Daily-use brand L'Oreal Shanghai Pudong Relocation

L'Oreal (China) Co., Ltd. and Shanghai Jinqiao Export Processing Zone Joint Development Co., Ltd. signed a land use rights transfer agreement yesterday. L'Oreal said that it will further expand investment in Shanghai and China. This is another investment initiative of L'Oreal Group in Shanghai Jinqiao following the official launch of the L'Oreal China R&D Center in Pudong in September last year.

The land area transferred was 20,000 square meters, located in Pudong Jinqiao Export Processing Zone, adjacent to L'Oreal Group's local R&D center and factory. L'Oreal said that the newly acquired land is used for the later expansion of L'Oreal China R&D center. And the feasibility of production and testing.

Not long ago, L'Oreal officially launched its China R&D center, investing 6 million euros in the first phase to study the skin and hair of people in China and Asia. This is the first R&D center established by L'Oreal in China and the 14th R&D center in the world. The new center is located in Jinqiao, Pudong and covers an area of ​​3,000 square meters. It includes several product laboratories and several product evaluation centers specifically targeting the Asian market. In the early days of its establishment, a laboratory for makeup, skin care and hair care products will be set up; this year will expand the biological laboratory centered on tissue biology and a chemical laboratory for the study of plant raw materials; by the end of the year, the staff of the center will reach more than 60 people. More than 90% are Chinese employees.

The previous few days, L'Oreal Group just announced its global performance last year, in 2005 sales of 14.53 billion euros, an increase of 6.5%, of which the fourth quarter soared by 12.2%.