Let L'Oréal drive the transformation of Vietnam's beauty industry

L'Oréal Vietnam General Director Ahmed Wagih shared the group's vision in creating the beauty industry at the golden time of Vietnam.

Mr. Wagih commented that Vietnam’s beauty market is not only among the fastest growing in the region, but also the fastest in the world. Not only that, Vietnam is where innovative technology, sustainable development and engagement with local culture come together to create a more inclusive, humane and responsible beauty industry.

A colorful picture

As the economy strengthens, Vietnamese consumers are willing to pursue beauty and self-care, which are essential needs that help them feel more confident and happy. Mr. Wagih said that all the areas that L'Oréal operates in, from skin care, makeup, hair care, hair coloring to perfume, have grown impressively. Among them, the strongest segment is skin care and perfume, and L'Oréal is proud to bring the most exquisite fragrances on the market.

One of the changes driving growth comes from consumers increasingly shopping online. In particular, the rise of Gen Z is profoundly changing the way L'Oréal approaches the market and creates products in Vietnam. The group has drawn the following formula: combining connection, curiosity, the need for value and the joy of experience. "With Gen Z, brands do not just sell products, but also need to tell stories, create emotions and bring real value," he emphasized.

Faced with this trend, the group is pushing its digital marketing strategy and multi-channel experiences to create new, exciting and personalized touchpoints for young consumers. As one of the leading brands in global e-commerce, L'Oréal has created strong momentum with livestreaming, which the group also calls "retainment", a new form of entertainment that accompanies shopping and provides opportunities to interact directly with the brand. In particular, for brands that need to raise awareness and educate consumers, L'Oréal also focuses on education and raising awareness so that consumers can use the products properly.

Another prominent trend noted by L'Oréal is makeup combined with skin care. "This is a new trend where makeup products not only help you look more beautiful and confident, but also contain active ingredients similar to those in skin care products, helping to nourish and protect the skin while applying makeup," he explains.

The future and the right support

In the coming years, Mr. Wagih believes that the next big growth driver for the Vietnamese beauty industry will come from the in-store shopping experience. In the near future, he predicts that the beauty industry will enter a phase of development that combines digital and in-store experiences, fueled by the explosion of brand new shopping centers. With a companion mindset, L'Oréal is ready to support retailers in the next phase of market development and continue to bring more brands to Vietnam.

In addition, L'Oréal, a global pioneer in Beauty Tech, is realizing its vision in Vietnam with smart, convenient and personalized beauty experiences. In Vietnam, L'Oréal has deployed a number of Beauty Tech services, with plans to introduce more beauty technology products in the coming years, aiming to bring breakthrough experiences closer to consumers, especially Gen Z.

In the process of business development, Mr. Wagih said that the group highly appreciated the efforts of the Vietnamese Government in harmonizing regulations with the ASEAN Cosmetic Standards. "However, some current regulations and administrative procedures still pose challenges, we want clear, unified and predictable regulations, accompanied by strong enforcement," Mr. Wagih shared.

In addition, Mr. Wagih also appreciated the authorities' recent strong handling of the inspection, supervision and handling of counterfeit goods, hand-carried goods and smuggled goods, ensuring a healthy competitive environment where businesses that do the right thing are protected and consumers are absolutely safe. This helps protect Vietnamese consumers, ensure product safety and encourage innovation and sustainable investment in Vietnam's beauty industry.

Sustainable development and talent nurturing

According to L'Oréal Vietnam General Director Ahmed Wagih, the group believes that beauty is not just about great products, but also about responsibility for the environment and society. In the process of business development, the group always balances with sustainability, from reducing _CO2 , saving water, controlling waste, to projects to help disadvantaged women learn hairdressing, creating opportunities to change their lives. L'Oréal also nurtures young talent through management training programs, internship programs and the Brandstorm creative competition, so that young people can develop their skills and become future leaders. As someone who participated in the Brandstorm competition 12 years ago while studying for a master's degree at the University of Manchester (UK), he believes that his greatest legacy is not revenue or growth, but the people trained by L'Oréal to bring real value and inspiration to the community and society.

Source: https://thanhnien.vn/de-loreal-thuc-day-su-chuyen-minh-cua-nganh-lam-dep-viet-nam-185251107104915.htm