Julia made the comments in response to a question from Ahram Online about the company’s future plans in the Egyptian market and how it is supporting the state’s green transition efforts.
This took place during a press conference held on Monday on the sidelines of the 11th edition of the Sustainable Development Forum in Cairo.
“Egypt is a strategic market for L’oreal, and that is why we established our factory, the only one in the Middle East and North Africa, which exports 80 percent of its production to the region,” Julia said.
Julia said that L’oreal is investing around $50 million in its factory in 10 Ramadan City.
Julia also noted that L’oreal is supporting Egypt’s green transition efforts under the country’s Vision 2030, with a target of using 100 percent renewable energy over the coming few years.
“We plan to produce more of our new brands here in Egypt. In addition, we are already expanding in bringing know-how strategies and technologies to the Egyptian market,” Julia said.
L’oreal has been operating in Egypt since 2009 and has brought 14 products to the domestic market.