L’Oréal is betting big on India’s next wave of consumers, with the French beauty major estimating that 150 million more Indians will enter its addressable market over the next five years, making the country central to its global growth strategy.

“Today, we consider that our products can be purchased by around 300 million Indians,” said Jacques Lebel, country manager, L'Oréal India. “The wealth creation in this country means that in the next five years, 150 million more Indians will have the buying power and the desire to buy L’Oréal products. That’s a quarter of all the new consumers L’Oréal will recruit worldwide.”

That scale is already reshaping the company’s global outlook. India has entered the top nine beauty markets globally and is expected to break into the top three within five years, alongside the US and China. “If winning in India was optional up until now, it’s an absolute must-have,” Lebel said at Nasscom's Global Confluence.

Also read: Fortune India Boardroom: India’s beauty market comes of age as ecommerce and D2C brands redraw the landscape

The company’s India play is no longer just about selling products - it is increasingly about building from India for the world. Lebel pointed to a shift from local innovation to global impact, driven by R&D and consumer insights rooted in Indian conditions.

Take skincare and haircare. Products developed to address pollution, oily skin, and specific hair stress patterns such as braiding and oiling have not only scaled domestically but are now being exported across Southeast Asia. “It starts with understanding consumer needs and developing products for that,” Lebel said.

More significantly, India is emerging as a source of core scientific innovation. Lebel highlighted Melasyl, an anti-pigmentation molecule developed in the company’s Bengaluru labs, now deployed globally. “This is a technology we believe is the most competitive for this specific need,” he said, underscoring India’s role in L’Oréal’s global research pipeline.

Also read: Fortune India Boardroom | Beyond the metros: How tier-2 India and global trends are redefining the country’s beauty market

To deepen this push, L’Oréal is also investing in technology. The company is setting up a Global Capability Centre (GCC) in Hyderabad focused on AI-driven Beauty Tech, backed by an investment of ₹3,500 crore (about $383 million). Announced in January 2026, the hub will drive data analytics and digital engineering for global operations and is expected to create 2,000 tech jobs by 2030.

Lebel framed this as a natural evolution. “We see ourselves as a beauty tech company,” he said, adding that India’s scale and digital ecosystem make it a strategic fit.

With rising incomes, a growing consumer base, and increasing innovation capabilities, India is no longer just a high-growth market for L’Oréal, it is becoming one of its most critical global engines.