Video: (CIIE Story·High-end Dialogue) Creating beauty in China and impressing the world Source: China News Network
China News Service, Shanghai, November 4, Title: Fei Borui: Create beauty in China and impress the world
Author Pu Fan Kang Yuzhan
Fei Borui, President of L’Oréal North Asia and CEO of China, came to Shanghai in 2019 and fell in love with it at first sight. Now, he has lived here for more than four years. He believes that China can always bring him endless surprises and beautiful inspiration.
In four years, L’Oréal upgraded Shanghai to its North Asia headquarters, established its first investment company in China, and launched its first regional market open innovation project from China to the world… Faber has witnessed much of L’Oréal’s history in China sexual moments.
He said: “China is becoming the source of global innovation for L’Oréal. We are creating beauty in China and moving the world.”
(CIIE Story·High-end Dialogue) Poster on the theme of creating beauty in China and impressing the world
Reporter from China News Service: How many CIIEs has L’Oréal participated in? How did L’Oréal get involved?
Fei Borui: We have participated in all five CIIEs in the past years. This year is the 6th time and the 4th time we have served as the chairman of the exhibition alliance. This role is very important, and it also aims to promote the CIIE to exhibitors, and also demonstrates that the CIIE is an important platform to promote cooperation.
L’Oréal’s approach to the CIIE continues to evolve. First, we launch a new brand and showcase best-selling products. We have launched many new brands that have been very successful in the Chinese market.
Recently, we have also changed from exhibitors to investors. This is an important step. We will also use the CIIE platform to showcase L’Oréal’s work in the Chinese market, and also to showcase China’s innovation ecosystem to the world.
Reporter from China News Service: What signals do you think the CIIE will send to the current global economic environment? How does it benefit the development of China and the world?
Fei Borui: I have participated in four CIIEs, and this year will be my fifth. I have witnessed with my own eyes the entire process of the CIIE developing into a platform for cooperation and collaboration. The CIIE opens the world to China, and it also opens China to the world. Over the past few years, I have participated in many industry forums. At L’Oréal, we are proud to advocate the concept of new consumption and good consumption. We firmly believe that China’s economy needs consumption to support it, but more importantly, high-quality consumption.
We have been working hard and are grateful to the CIIE and many partners, retailers, consumers, media partners, and industry partners. Thank you all for jointly advocating good consumption. Without the CIIE as a platform, everything would be impossible. With the help of the CIIE, we can work together to send a strong signal to the Chinese market during this week, and at the same time, China’s inspiration also brings inspiration to the world.
Reporter from China News Service: The CIIE can serve as a platform for international procurement, investment promotion, cultural exchanges, and open innovation. Which feature impressed you the most?
Faberry: I think open innovation is becoming the key to the success of the CIIE. As early as 2020, we promoted the “BIG BANG Beauty Technology Creation Camp” at the CIIE. We’re seeing the project gradually achieve deeper engagement and become bigger. For open innovation investment, the CIIE is an efficient amplifier. In 2023, the winners of the “BIG BANG Beauty Technology Creation Camp” will also appear at the CIIE, and we have expanded the scope of the ecosystem to North Asia, including South Korea and Japan.
I firmly believe that the CIIE is an excellent platform because it can bring together so many industries from around the world in such a short period of time. It allows everyone to have full and in-depth exchanges on many issues in terms of innovation and sustainable development, and jointly create a better economic environment.
Only full communication and a strong willingness to be open can make this work. L’Oréal seizes this opportunity to create open innovation in 2023 at our booth.
Reporter from China News Service: How does L’Oréal plan to use the CIIE to enhance its strength?
Faberry: China is L’Oreal Group’s second largest market. More importantly, China is a key engine for L’Oreal Group’s business growth. The group’s growth is due to the growth of brands in the Chinese market, and we are always introducing more new brands. This is especially true in recent years.
The CIIE is a great opportunity for us to introduce more brands to China. Every year, L’Oreal almost launches 3 to 4 brands. In the past few years, we have launched 10 to 12 brands in response to different new trends in the Chinese market.
Thanks to the CIIE, we are able to bring multiple fragrances and different brands to the market, but this is only part of it. Recently, we have also developed some beauty technology solutions, because beauty is not limited to products, but also includes personalized services. At the same time, we have also transformed from an exhibitor to an investor to promote beauty technology. Investment is also crucial at the CIIE, because we can take this opportunity to fully demonstrate L’Oréal’s confidence in China’s ecosystem and build the beauty of the future.
L’Oréal was one of the first participants in the first CIIE in 2018, and at that time, we got the largest booth. Therefore, we have been very optimistic about the CIIE from the first day. Over the years, we have witnessed the development of the CIIE, which has also allowed us to introduce more brands to China and bring innovation to China in the simplest way.
At the same time, we have also seen that the CIIE has gradually become China’s window to the world. Through continuous development, the CIIE has become a platform that can bring together partners and stakeholders from all walks of life and promote cooperation. We have also seen that the CIIE vigorously advocates responsible consumption.
The CIIE is a symbol of China’s development and China’s role in global development. As a multinational company like L’Oréal, we must play the role of a middleman to introduce the world’s top products and services to China, and at the same time, let China’s top products and services go to the world. (over)
Editor: Shu Mengqing