In a recent fireside chat, David Greenberg, CEO of L’Oréal USA, emphasized that despite evolving dynamics in the industry, the core focus remains on creating products that resonate with consumers. Greenberg highlighted the shift in the beauty business landscape, noting that traditional boundaries no longer exist, and innovation is key to staying relevant in a limitless market. He emphasized the importance of nurturing a culture of entrepreneurship, creativity, and resiliency within L’Oréal, stating that the company’s size does not hinder its ability to adapt and innovate.
Despite L’Oréal’s strong heritage and emphasis on culture, Greenberg acknowledged the rapid evolution of the company, particularly in embracing technology and digital advancements. He spoke about L’Oréal’s strategic focus on Beauty Tech, a holistic approach to leveraging technology to enhance business operations, from development to formulations. Greenberg highlighted the global reach of L’Oréal’s Beauty Tech initiatives and the company’s commitment to leveraging new technologies through initiatives such as venture funds to propel innovation and brand building efforts. Greenberg also expressed optimism about the new generation of consumers entering the market, emphasizing the need to understand and cater to their evolving needs while hinting at potential expansion into men’s beauty products to further broaden L’Oréal’s portfolio.
