E-comm in India is a fantastic revolution, says L’Oréal CEO

Mumbai: L’Oréal, the world’s largest cosmetics company, said e-commerce is turning out to be a game changer in India, a market where rivals have been historically stronger due to dominance of kirana stores.

India has an estimated 10 million kirana stores, which account for an estimated 90% of overall consumer products sales. A large number of these are in the hinterland where the French firm L’Oréal has a minuscule presence.

“Now with e-commerce in India, any Indian lady, young lady, in any part of the country, even a village, can order online. It changed completely the paradigm of deep distribution that was always a limitation to our business,” L’Oréal global CEO Jean-Paul Agon said in an investors call.