L’Oreal Paris has opened a new boutique in Madrid for fashion-conscious Spanish consumers.
The first of its kind in the south of Europe, the boutique is designed as a “laboratory” where consumers can get advice on the latest trends and where they will be able to try out the latest technologies, formats and products.
L’Oreal Paris has been active in Spain for over 50 years, and the country represents the company’s 10th largest market. According to Ins Caldeira, CEO of L’Oreal Spain, “we want to support and boost consumption in the Spanish market and position ourselves as a world leader through what we do best: innovating and meeting the needs of Spanish consumers”.
The new store will be 100 square metres in size, and 70% of the surface area will be devoted to makeup. Spending on cosmetics in Spain was reported to have been around €800million ($1.09 billion) in 2013, with 115million units sold at an average price of around €7 ($9.6).
The remainder of the store’s selling space will be split between skincare (15%) and haircare (5%), as well as 10% for accessories and the L’Oreal Paris Men Expert range.