STORY: To invest in China is to invest in the future, says L'Oreal executive
SHOOTING TIME: recent footage
DATELINE: May 29, 2024
LENGTH: 00:01:43
LOCATION: SHANGHAI, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of the L'Oreal's factory in China
2. SOUNDBITE 1 (English): VINCENT BOINAY, President of L'Oreal North Asia Zone and CEO of L'Oreal China
3. various of the L'Oreal's factory in China
4. SOUNDBITE 1 (English): VINCENT BOINAY, President of L'Oreal North Asia Zone and CEO of L'Oreal China

STORYLINE:

Investing in China is investing in the future, according to a senior executive of French cosmetics giant L'Oreal.

Vincent Boinay, president of L'Oreal North Asia Zone, made the remarks during a recent interview with Xinhua following recent expansions by his company in China.

SOUNDBITE 1 (English): VINCENT BOINAY, President of L'Oreal North Asia Zone and CEO of L'Oreal China
"Indeed, we are investing in China because we strongly believe that investing in China is investing in the future. Therefore, you are mentioning Suzhou. It's a very good example. One of the most amazing, most modern, and probably most equipped through AI and technology of the fulfillment centers we have. I think it's a good sign of our belief and strong belief in the future of China."

L'Oreal China's Suzhou Smart Fulfillment Center, the very first smart fulfillment center of L'Oreal Group, was put into operation last month. 

Equipped with advanced automation and IT systems, the 46,000-square-meter facility is capable of producing over 7,000 direct-to-consumer parcels every hour.

Boinay said L'Oreal China's sales increased by 6.2 percent in the first quarter of 2024. He hopes to make L'Oreal China the largest subsidiary of L'Oreal Group.

SOUNDBITE 2 (English): VINCENT BOINAY, President of L'Oreal North Asia Zone and CEO of L'Oreal China
"I see to move from big to gigantic. When you look at the sheer size of the population, the sheer size of China, the potential we have, this is what we want to be and maybe to be one of the biggest, if not the biggest subsidiary of the L'Oreal world."

Xinhua News Agency correspondents reporting from Shanghai, China.
(XHTV)