Cosmetic brands target the male market to diversify their business

A newly created market in South Asia, the Pacific and the Middle East will account for most of L’Oreal’s new business over the next decade, and men will make up a large part of that, announced the French cosmetics firm.

The combined geographic area, internally named SAPMENA, will cover 35 markets in South Asia Pacific, the Middle East and North Africa. Based in Singapore, the new zone emerges in response to consumer trends shared and growth opportunities.

The president of the region, Vismay Sharma told CNBC that “this region, or SAPMENA as we call it, will be an important growth engine for us. This is where we will acquire the most consumers in the next decade . ”

The move also makes sense demographically, Sharma said. As a whole, the region is home to the 40% of the world population with a mean age of 28 years. “More than 80% of consumers have less than 25 years, ”he said. “That makes it exciting for us and a very strategic market for the future.”

The company of 112 years is trying to adapt to changing consumer habits and new markets even though it has held up well during the pandemic.

Sales increased by 10, 2% in the first quarter of 2021, returning to levels close to the pandemic. The company representative said that the coronavirus crisis had boosted certain categories, including health and wellness and the demand for sustainable products .

The Male cosmetics have also seen an increase in demand lately. Japanese beauty company Shiseido posted a double-digit growth of one of its men’s makeup lines in 2020 .

This is because male consumers became more self-aware of their appearance during daily work video conferences induced by the pandemic.

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