This week, I head for L.A. (at least mentally) and check in on Twitter Spaces.
Last Wednesday, L’Oréal, the No. 1 cosmetics company in the world, announced its second company headquarters for L’Oréal USA in El Segundo, California outside of Los Angeles. The 100,000-square-foot indoor and outdoor office space is expected to open in early 2022, and will be the home of the company’s first West Coast L’Oréal Professional Products Academy. With the move, the company’s California brands, NYX Professional Makeup, Urban Decay and Pulp Riot, will receive unprecedented new attention. The announcement obviously gives L’Oréal USA more access to celebrities, influencers and cultural events in L.A. and California. But beyond the internal ramifications, it underscores L.A.’s growing importance to the global beauty market.
“As the worldwide beauty leader and the USA leader, to be the first company to set foot in this very important region of the United States [with a headquarters] shows the commitments that we have to a consumer ecosystem — to trends, to new behaviors, to new innovation and that great creativity that’s coming from California,” Stephane Rinderknech, president and CEO of L’Oréal USA, told me over a video call last week.
The beauty customer is certainly there. According to Rakuten Intelligence, of the 116 million people that made beauty purchases online during the pandemic, 6.3 million were from Los Angeles, Riverside and Orange counties, up 27%…