French Cosmetics brand L’Oréal has made its first acquisition in India by taking over the assets of Mumbai-based Cheryl’s Cosmeceuticals.
Cheryl’s Cosmeceuticals, which has expertise in professional skin care products and treatment, was founded in 1986 by Oscar and Cheryl Pereira. In 2012, the firm had a distribution network spanning over 10,000 salons in India and a turnover of about Rs 20 crore.
Jean-Christophe Letellier, Managing Director, L’Oréal India, said in a statement, “This is an attractive opportunity for L’Oréal in India as it broadens the product offering of our Professional Products Division in this country to also include skin care products and services. It will further enhance our leadership position in the dynamic professional products market where we are present with our brands L’Oréal Professionnel, Matrix, and Kerastase.’’
Oscar Pereira, director, Cheryl’s Cosmeceuticals, said, “It has been a great adventure to bring to market a truly unique brand that has captured the hearts and minds of many.”
L’Oréal, present in over 130 countries with 66,600 employees across the world, is one of the world’s largest cosmetics companies. The company had a turnover of 19.5 billion euros in 2010.
The company has been present in India for close to 20 years. Currently, L’Oréal India is one of L’Oréal’s fastest growing subsidiaries and employs over 1,000 people.
In India, L’Oréal brands are present in the following four categories: consumer products, luxury products, professional products and active cosmetics.
In addition to the head office in Mumbai and regional offices in New Delhi, Bangalore, Chennai and Kolkata, L’Oréal India operates a manufacturing plant and distribution centre located in Chakan, Pune. Set up in 2004, the Chakan plant specialises in the manufacture of hair colour, hair care and skin care products, producing 190 million units.
(Edited by Joby Puthuparampil Johnson)