L'Oreal creates new travel retail division

L’Oréal is creating a worldwide Group Travel Retail Division, according to the company.  Based in Paris, this new division will oversee the sale to travelers of L'Oreal's luxury products such as Lancome creams and Yves Saint Laurent make-up as well as brands such as La Roche Posay and L'Oreal creams and Kerastase shampoo.

"This market, present around the world, could be considered as a 'sixth continent'," L'Oreal Chief Executive Jean-Paul Agon said in a statement on Thursday. "L'Oreal has high ambition for the future of the channel."

Already present at airports and duty-free shops, L’Oréal claimed a 21.6 percent share of the travel retail market in 2012, which was worth $55.8 billion, according to L'Oreal - but, the company says that the market should double over the next 10 years, to reach $100 billion.
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