Alibaba and L'Oréal sign an agreement for more circularity in the beauty industry in China

By

Sarah Ahssen

Translated by
Cassidy STEPHENS

Published
Apr 12, 2023

On April 6, the Chinese e-commerce giant Alibaba and the French group L'Oréal, signed a partnership to promote the circular economy in the beauty industry in the Middle Kingdom, according to a statement issued by Alibaba Group.

Signed by Daniel Zhang, the CEO of Alibaba Group and Jean-Paul Agon, the chairman of L'Oréal, this memorandum of understanding, which runs until 2025, aims to "establish greener and low-carbon standards, develop new products and create measurable circular economy solutions in China's beauty and hygiene industry," a market that is currently worth $87 billion (€79 billion).

In 2018 L'Oréal and Alibaba had already signed an agreement to make the use of eco-designed packaging widespread for all L'Oréal products sold in China.

According to Alibaba, more than 5,000 French brands are sold via its various e-commerce platforms. These labels generate around 14.5 billion dollars in sales.