L'Oréal has designated Singapore to be its headquarters for South Asia Pacific, Middle East and North Africa (SAPMENA), naming Vismay Sharma as president of the region. L'Oréal was first established in Singapore in 1990, and subsequently set up a regional hub for its South Asia Pacific regions and travel retail Asia Pacific operations in 2013 and 2014 respectively.
Meanwhile, Sharma (pictured below) joined the Group in India in 1994, where he led both the consumer products and professional products divisions. In 2012 he was appointed CEO for L’Oréal Indonesia. Since 2016, he has been CEO for L’Oréal in the UK and Ireland and has relocated from London to Singapore for the new role. At the same time, APAC CMO Shelly Chiang is now CMO for SAPMENA. The SAPMENA leadership team and hub staff will also be based in Singapore.
"Our expansion in Singapore allows us to be strategically located in one of the world’s most innovative ecosystems. This will strengthen our culture of innovation as we capitalize on emerging tech to transform our consumer reach, while also attracting the best talent and partners," he said.
The establishment of SAPMENA represents a new and important chapter in L'Oréal’s global growth strategy and consumer acquisition plan. According to L'Oréal, SAPMENA is considered the world’s Millenial epicentre, with an average consumer age of 28 years and seven of the eight Millennial major hubs located in the region, the brand added.
"The new geographic zone SAPMENA is where the future of beauty will be shaped, with many of the world’s fastest-growing economies and populous markets in the region," Sharma said. He added that beauty innovation, new ways of working and sustainable development will be at the heart of its work to meet the expectations of its young, ambitious and connected consumers. MARKETING-INTERACTIVE has reached out to L'Oréal for additional information.
As part of its expansion in Singapore, L'Oréal will move to a new office space in One Raffles Quay. The office will accommodate over 600 people and the move is scheduled to take place in November 2021.
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