L’Oréal Rides the Multicultural Beauty Wave

Courting the burgeoning multicultural market is expected to be one of the biggest topics at this week’s National Association of Chain Drug Stores Annual Meeting, and L’Oréal USA comes armed and ready. The company will unleash its newly minted Multicultural Beauty Division, melding together Carol’s Daughter with products from its SoftSheen-Carson portfolio during top-to-top meetings at The Breakers Hotel in Palm Beach, Fla. The size of the prize is appealing: African-American, Hispanic and Asian shoppers, over-index in virtually every beauty category in comparison to the general market. Although the multicultural population’s spending won’t reach fever pitch until 2043 — when today’s minority groups become the majority of the population — Nicole Fourgoux, general manager for L’Oréal Multicultural Beauty, said the time to develop bonds is now. “Multicultural consumers may only be 39 percent of the total population now, but in 12 out of the 20 top cities, multicultural consumers are the majority and are representing 27 percent of the beauty spend,” Fourgoux explained. “Everybody is talking about the evolution of the population, but it really is happening today.” To better understand these consumers, L’Oréal took a deep dive into shopping habits, uncovering gaps between desires and what’s on mass shelves. “We are starting by

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