L’Oréal India Makes First Acquisition

L’Oréal India recently announced its first acquisition of Cheryl’s Cosmeceuticals, a pioneer in professional skin care products and treatments in beauty salons across the country. Headquartered in Mumbai, Cheryl’s Cosmeceuticals was created in 1986 by Oscar and Cheryl Pereira. In 2012, the brand had a distribution network spanning more than 10,000 salons in India and a turnover of nearly $3 million. Jean-Christophe Letellier, managing director, L’Oréal India said, “This is an attractive opportunity for L’Oréal in India as it broadens the product offering of our Professional Products Division in this country to also include skin care products and services. It will further enhance our leadership position in the very dynamic professional products market where we are present with our brands L’Oréal Professionnel, Matrix, and Kerastase.”