L’Oreal Opens Global Flagship Store in Shanghai Amidst Global Pandemic

It is an open secret that many businesses, particularly those in retail, have been struggling since the beginning of this pandemic. Even some of the most sought after conglomerates and moguls had to make adjustments to their existing business plans to keep their companies afloat. As for L’Oreal, it seems to be business as usual as one the brands under its umbrella, Yves Saint Laurent (also commonly known as YSL) just opened their global flagship store in Shanghai. As you may already know – Shanghai is one of major cities in the rising economic powerhouse that is China. Yet again, L’Oreal proves that is is one of the world’s biggest names when it comes to beauty and personal care for a reason. 

On the first of June 2020, L’Oreal’s upper scale cosmetics brand, Yves Saint Laurent, opened its global flagship store in Xintiandi Plaza after the said brand’s positive turnout in sales despite the pandemic. Interestingly, there has been abut a 6.4% increase in the first quarter from an earlier year in L’Oreal revenue in the Chinese market. This is contrary to the brand’s performance globally. There has been a decline in their overall sales of about 4.8 percent. This is according to the French conglomerate’s most recent earnings report. 

Yves Saint Laurent is L’Oreal’s high-end cosmetics brands. Since YSL’s creation more than 50 years ago, as the brand’s profile puts it : “has produced true olfactory sociological markers”. Their make up products hold the highest standard of technology. Its premium quality is not only reflected in the quality of the makeup itself but even in its sleek packaging. The YSL Beauté makeup icons include Touche Éclat, Mascara Volume Effet Faux Cils, Rouge Pur Couture and Rouge Pur Couture Vernis à Lèvres glossy stain. On the other hand, YSL Beaute’s skin care products unite cutting edge technology with glamour to provide users with the best experience. Their beauty principle is quite simple : “skincare plus makeup equals a multitasking hybrid of pre and post-makeup solutions for all complexions.” 

As for China, YSL aims to take advantage of China’s population which accounts for 20 percent of the world and attempt to make the most out of their perfume consumption which is only at about 1%. The latest global trends reflect that Chinese customers have already been moving towards the international beauty market for their cosmetic and skin care needs. According to Xing Xiachun, the general manager of YSL’s arm in China, the newly opened city store shall be mainly focused on introducing perfumes and fragrances to the Chinese market. 

Among YSL Beaute’s best fragrances are Mon Paris, Parisienne, Cinéma, Elle, n Love Again Fleur De La Passion and Black Opium. L’Oreal has yet to release the official list of fragrances that will be made available to Chinese consumers. 

Over the last 5 years, L’Oreal has opened several global flagship stores in different countries. It opened its world-first travel retail in the King Power Downtown II Sriravaree in Bangkok, Thailand. It also opened the doors to its global flagship stores in Beijing as well as in the city of Love, Paris.