The global cosmetics industry is now worth an estimated $197 billion, and is growing by about 4% annually. In 2014, so-called new markets (anything outside North America and Western Europe) accounted for 39.6% of L’Oréal’s $29.9 billion in sales. To take an even bigger slice of that international pie, the company is investing in products tailored to the diverse skin tones of women in places like South Africa and the Middle East, as well as in the United States.
Read more in Fast Company
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