Why Pernod Ricard, L'Oreal are sending their global heads to India
Pernod Ricard and L'Oreal are flying in their global leaders to India this week, hoping to shake things up as growth slows down.
With competition heating up from digital-first brands, L'Oreal is rethinking its strategy—Pernod Ricard's chairman Alexandre Ricard is set to announce a restructuring plan (which could mean layoffs), while L'Oreal's CEO Nicolas Hieronimus is meeting with his board in Mumbai to focus on an India-specific game plan.
India is a big deal for these French firms
India isn't just another market for these French firms—it's a big deal.
For Pernod Ricard, India brings in 13% of global sales, so they're investing in a new distillery in Nagpur even after recent job cuts.
L'Oreal has seen its growth here drop to 5% for FY2025, prompting them to appoint Jacques Lebel as the new country manager for sharper local focus.
Both brands are doubling down on India as they try to stay ahead of fast-moving rivals and keep their edge.