The event focused on future beauty through co-creation in technology and innovation.
The Summit took place during the China International Import Expo (CIIE) and was attended by key stakeholders from different industries and markets. Speakers included experts from beauty, green sciences, AI, digital and medical sectors as well as institutions including Business France and Shanghai Institutes for International Studies.
Fabrice Megarbane, president of L’Oréal North Asia & CEO of L’Oréal China, said: “The North Asia region represents more than one third of the world’s total beauty market. It has a unique eco-system of what we call the Beauty Triangle of C-beauty, J-beauty and K-beauty. There are a lot of cultural relevance and commonalities in beauty needs in the region while each market brings unique strengths. This dynamic is what makes the North Asia region special, not only as a growth engine but also an inspiration for technology advancement and innovation empowering beauty. The purpose of this event is to bring together the different wisdoms and accelerate technology and innovation through co-creation in the region.”
Consumer Trends in the Beauty Triangle
During the Summit, L’Oréal decoded the latest consumer trends in the Beauty Triangle around four key themes including “self-expressive beauty,” “supercharged efficacy,” “skinification” and “sensorial matters.” The company also illustrated key innovation breakthroughs echoing these trends, such as 3CE’s New Color Effects, Lancôme’s Dual LED Youth Treatment, YSL’s Touche Eclat Glow-Pact, Prada’s Paradoxe Fragrance and Shu Cleansing Oil’s “Shu Purifying Ritual.”
Maxime De Boni, vice president, L’Oréal R&I North Asia and China, said: “We have the open R&I strategy to lead us into the world of ‘Co,’ a world of co-llaboration, co-creation and co-operation to shape the future of beauty. Internally, we maximize the synergies across our local R&I centers in Shanghai, Tokyo and Seoul in North Asia. Externally, we detect, select and transform with the best academics, suppliers, start-ups and vendors in the region, from upstream to downstream, to invent breakthrough and superior innovations. This summit is exactly about our belief in the power of ‘Co’ and accelerating our ‘Open.’”
The event featured a panel discussion that included leading experts from beauty, AI & digital, and R&D specialties in different markets. A recent example of cross-industry co-creation was showcased where L’Oréal Japan partnered with Morishita Jintan to develop its first capsule made of plant-derived active cosmetic ingredient through cutting edge “active delivery capsule” technology.
During the discussion, all experts called for more cross-industry, cross-market collaboration to bring new technologies and new innovations to consumers. On AI & digital, experts raised the pressing need to strengthen AI infrastructure to facilitate collaboration. On medical beauty, panelists pointed out the importance of bringing together start-ups with new ideas, companies with resources and medical professionals with expertise to bolster the innovation journey.
“At L’Oréal, our sense of purpose is to create the beauty that moves the world. We believe that together with our partners and stakeholders, we can co-create the future of beauty with game-changing technologies and innovation that truly inspire our consumers in North Asia and beyond,” continued Megarbane.