According to a L’Oréal statement, after 30 years of working in the French and Asian markets and holding the position of longest serving COO at the brand, Dayal has moved on to create industry policy and benchmarks at the Indian Beauty & Hygiene Association (IBHA).
The cosmetics industry veteran is reported to have played an instrumental role in the brand's recent acquisition of Cheryl’s Cosmeceuticals as well as several sustainability programmes for L’Oreal India after leading the way on various projects during his six-year tenure in Paris.
"Today, L'Oreal India has evolved from a start-up to a market leader in beauty in various categories with a turnover of Rs 2000 crore," the company stated regarding the former COO's help to establish that presence in the country.
Commenting on his departure, Dayal said, "I was given a great degree of freedom to take on new projects, thanks to which I have been able to live my dream of an 'intraprenuer'."
While he will mainly be concentrating on his new position as president of IBHA, Dayal continues to work with L’Oreal India as a consultant.
L’Oréal India
The beauty behemoth made its first acquisition in India in 2013 with Cheryl’s Cosmeceuticals, headquartered in Mumbai and synonymous with skin care treatments and products across salons in the country.
At the time, the brand had a distribution network spanning over 10,000 salons in India and a turnover of approximately 200 million Rupees (3 million Euros).
"This is an attractive opportunity for L'Oréal in India as it broadens the product offering of our Professional Products Division in this country to also include skin care products and services,” South Asia Pacific MD, Jean-Christophe Letellier said at the time of the acquisition.
Regarding more recent movements, the company is looking to bridge a gap between hygienic products and 'treatment' and 'care' ranges as India is deeply rooted in traditional herbal or natural based cosmetics.
While the beauty industry is booming in Asia, consumers on each market have specific tastes.
What makes India unique is that it is rooted in traditional beauty recipes, particularly in the hair care segment - where oils and treatments are in high demand.
Market research firm Mintel confirms, stating that launches which bridge the gap between value and prestige products are likely to drive the growth in the country.