Friday, February 11, 2022

g-f(2)923 THE NEW WORLD (2/11/2022), yahoo!news, WWD, L’Oréal’s CEO Addresses Beauty Industry Transformation




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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageThe New World, Beauty Industry Transformation (2/11/2022)  g-f(2)426 


Lessons learned, yahoo!news, WWD  

EXCEPTIONAL “Full Pack Golden Knowledge Container”



L’Oréal’s CEO Addresses Beauty Industry Transformation



Golden knowledge (GK) Juice



  • L’Oréal chief executive officer Nicolas Hieronimus: “Beauty is an offer-driven market powered by innovation, technology and by intuition and creativity; beauty is a brand-powered market, where consumers in their infinite diversity relate to brands that come with a personality….Beauty is a market where scale matters: big brands, big renowned star products, win.”
  • The global beauty market grew by 8 percent last year, according to estimates from L’Oréal. “After a decline of 8 percent in 2020, 2021 was the year of the rebound,” Hieronimus said.
  • As reported, in 2021 the maker of Lancôme, Kiehl’s and L’Oréal Paris products achieved sales of 32.28 billion euros, a 15.3 percent increase on a reported basis and a 16.1 percent rise like-for-like, compared with 2020.
  • L’Oréal’s uptooling of and investment in technology is impacting its business on every level, not just in terms of consumer-facing initiatives. “What truly makes L’Oréal future-proof is our transformation around beauty tech and sustainability,” Hieronimus said.


Genioux knowledge fact condensed as an image



L’Oréal CEO Nicolas Hieronimus On The Beauty Industry And The Company's Role in Expo 2020 Dubai







References




ABOUT THE AUTHORS


Women's Wear Daily (WWD)



Women's Wear Daily (also known as WWD) is a fashion-industry trade journal often referred to as the "Bible of fashion". It provides information and intelligence on changing trends and breaking news in the men and women's fashion, beauty and retail industries. Its readership is made up largely of retailers, designers, manufacturers, marketers, financiers, media executives, advertising agencies, socialites and trend makers.

WWD is the flagship publication of Fairchild Media, which is owned by Penske Media Corporation. In April 2015, the paper switched from a daily print format to a weekly print format, accompanied by a daily digital edition. In 2017, it announced it would ramp up its focus on digital, reducing its regular print schedule further and opt instead to publish print issues only during fashion weeks and certain other events.



Extra-condensed knowledge



Lessons learned, yahoo!news, WWD


“What this year tells us is that the appetite for beauty is huge, universal and that beauty is essential for humans” 


Golden knowledge (GK) Juice



  • In what it described as “a historic year,” the group registered its strongest growth since 1988, and outgrew the market by a multiplier of two. 
  • The global beauty market “was driven by skin care and fragrances, while makeup is progressively recovering,” Hieronimus said. 


Condensed knowledge




Lessons learned, yahoo!news, WWD


AI-powered revenue growth management


Golden knowledge (GK) Juice



  • By channel, e-commerce increased 6 percent, brick-and-mortar by 6 percent and travel retail by 16 percent, largely driven by ongoing growth in Hainan, China. “Travel retail has experienced a significant rebound but is still far from the pre-pandemic levels, and we can bet on the further recovery of travel retail in 2022,” Hieronimus said.
  • For its own operations, “the crisis has allowed us to move away from the long tail of unproductive stores and to focus on growing the best ones, which remain essential to our strategy,” Hieronimus said. This has been a cornerstone of L’Oréal Luxe’s strategy in the U.S. over the past few years, for example, and it has closed 1,300 underperforming doors there.
  • As well as through the premiumization of its offer, the company is mitigating cost inflation using AI-powered revenue growth management, mixing price increases, promotions and format strategies, most of which have already been agreed with retail partners, he said.



Some relevant characteristics of this "genioux fact"

  • Category 2: The Big Picture of the Digital Age
  • [genioux fact deduced or extracted from yahoo!news, WWD]
  • This is a “genioux fact fast solution.”
  • Tag Opportunities those travelling at high speed on GKPath
  • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
  • Type of validity of the "genioux fact". 

    • Inherited from sources + Supported by the knowledge of one or more experts.


References


“genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)923, Fernando Machuca, February 11, 2022, blog.geniouxfacts.comgeniouxfacts.comGenioux.com Corporation.


ABOUT THE AUTHORS


PhD with awarded honors in computer science in France

Fernando is the director of "genioux facts". He is the entrepreneur, researcher and professor who has a disruptive proposal in The Digital Age to improve the world and reduce poverty + ignorance + violence. A critical piece of the solution puzzle is "genioux facts"The Innovation Value of "genioux facts" is exceptional for individuals, companies and any kind of organization.




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