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REPORTONLOReAIGROUP1. IntroductionThisreportfocusesonasuccessfulinternationalcompanyinChina-theLOralGroup.eThetopicscoveredinclude“ThebasicinformationShouldthecompanyusee-commerceasthemaindistributionchannel?andSuggestionsunderthcurrentmacroeconomicsituationinChina”.2. ThebasicinformationPrimarily,theformofLOralGroupiscorporation.Itoperatesinmanycountriesintheworldandhasmanysuccessfulsubsidiaries.TwoofthebestknownareLanc?meandTheBodyShop.Asacorporationthecompanyhassomedistinctfeatures.FirstlyLOralGroupiseaseparatelegalentityandsecondly,theownersofLOralGroupareshareholders.CurrentlythemajorshareholdersaretheBettencourtfamily,internationalinstitutionalinvestors,Frenchinstitutionalinvestors,individualshareholders,treasurystockandemployees.Togetherwithothershareholders,theyowntheLOralGroupbuthaveonlylimitedliabilities.1) UndesirabledisadvantagesAsacorporationisthatitpaysincometaxestwice.Firstly,thecompanyisrequiredtopayincometaxforthecompanyearnings.Whenitdistributesdividendstoitsshareholders,theshareholdersneedtopayindividualincometaxesforthedividends.Asatransnationalcorporation,theboardofdirectorsandofficerscomprisethemanagementofLOralGroup.ThetopmanagerofLOralisJean-PaulAgon,whoisthechairmanandchiefexecutiveofficerofthecorporation.Intermsofwhatproductsorservicesprovided,LOralistheworld!largestcosmeticscompanyconcentratingonhaircolor,skincare,sunprotection,make-up,perfumeandhaircareaswellas,?,and?researchfields.Besides,theproductsitprovidescanbecategorizedasmass,professional,luxuryandactivecosmeticsmarkets.Respectively,themasscosmeticsbrandsareLOralParis,MaybellineNYandGarnier.TheprofessionalareLOralProfessional,KerastaseandMatrix.TheluxurybrandsareLanc?me,YSL,GiorgioArmani,Kiel,TheBodyShop,andShuUemura.Theactivecosmeticsbrandsarecosmeceuticals,suchasVichy,LaRoche-posay,SkinCeuticals,andINNEOV2) FourmajordistributionchannelsRetailing,franchisingande-commerce.Thesedistributionchannelshavetheirmeritsandshortcomings.First,retailinghassmalltransactionsizebuthightransactionfrequency.Additionally,retailsaleislargelyinfluencedbyconsumerbuyingbehaviors.Second,franchisinghasitsownmerits.Thefranchiseownerscanusefranchisingtomakelarge-scalesaleandachievelow-costexpansion,butfranchisecanonlyfocusononearea,andcantbeastrategicvictoryineverymarket.Thethirdise-commerce.Theupsideisthatusinge-commerceasadistributionchannelisconvenient,timesavingandcostsreducing.Butontheotherhand,forcustomerstobuyproductsonline,especiallycosmetics,takesriskbecausetheycannotcheckthequalityoftheproductsastheydoinaphysicalstore.3) LOrealshouldusee-commerceAseverydistributionchannelhasitsmeritsanddemerits,itneedstobefindingoutifLOralshouldusee-commerceasthemaindistributionchannel.Electroniccommercemakesitpossibletosellcommoditiesinacheap,efficient,easyandglobalway.InaccordancewiththeoperationandsalingsituationofLOral,e-commerceisanoptimaldistributionchannel.Foronething,LOralsellsmasscosmeticsbrandsproducts,thetargetcustomersofmasscosmeticsproductsareordinaryormiddleclasspeople,whoareincreasinglyinterestedinbuyingonlinewiththedevelopmentandconvenienceofe-commerce.Consequently,usinge-commerceasamaindistributionchannelmeetstheneedsofthesecustomersandisprofitable.Nevertheless,asfortheluxuryandprofessionalproducts,usinge-commerceasitsmaindistributionchannelisnotagoodchoice,becausesalesofluxuryandprofessionalproductsshouldprovideextraserviceandcustomerswillneedotherassuranceforbuyingtheproducts.Sincetheservicesystemofe-commerceisnotcompletelyperfecttosatisfytheneed,notalltheproductsandservicesofLOralshouldusee-commerceasthemaindistributionchannel.3. ConclusionAlthoughLOralGrouphasbeenagreatsuccessstorysince1909,improvementsarestillpossibleforLOralGrouptoremainitsprofitabilityinChinagiventhecurrentmacroeconomicsituation.InChina,themaineconomicindicatorsshowthattheChineseeconomyisgrowingslowerinrecentyears.However,theoverallconsumptiongrowthisbasicallystable.Specifically,forthefirst8monthsofthisyear,theaccumulativetotalretailsalesgrewby10.3%andthenationalcommodityonlineretailsalesincreasedby25.5%.ItcanbeseenthattheeconomyinChinaisstillexpanding.Withpeopleincomeincreasing,consumerswillcontinuetobuyluxuryproductstoimprovetheirqualityoflife.SoagreatmarketexistsforLOraltosellitsproductsinChina.AlthoughLOralpaysmuchattentiontoinnovationandresearchtokeeptheirproductsuptodate,toselltheirproductssuccessfullyinChinarequiresmoreattentiontoanyotherrespects.Firstly,Chinesegovernmentisstricttostandardizethecosmeticsindustry,andhasintensifiedthequalitysupervisionofthedomesticcosmeticproducts.Fromthisperspective,thequalityofrawmaterialsfortheproductionofcosmeticsmustbeuptothestandard.Toupgradethepackageoftheproductstoguaranteesealingandnon-pollutionisanotherwaytoachievethisobjective.Secondly,fromtheperspectiveofeconomy,thecosmeticsindustryinChinaisinthe?period?of?transition?fromgrowing?to?maturitywithcompetitionintensifyingandmarketpressureincreasing.Tofacethischallenge,LOralshouldmakefulluseofonlineretailinginChinaasasalesstrategysincethenationalcommodityonlineretailsalesinChinaincreasedby25.5%thisyear.Thirdly,fromtheperspectiveofbrandculture,onceconsumershavetheidentityofabrand,isnoteasytochange.Thatmeansbrandculturewillbringhighprofits.Itcanalsoplayaroleinhinderingorreducingthecompetitorsentryintothemarket.ButthebandcultureofLOralproductslacksofpublicityactivitiesinChina.Whatismore,therelationshipbetweenallbrandsofLOralissonotcloseenough,whichleadstoweakbrandcultureorwholesenseofthecompany.SoLOralshouldpromotetheirownbrandculture,andbaseontheLOraltargetmarketmarketingenvironmenttochoosetheirrepresentativespokespersoninChinatohelpimprovebrandculture.Fourthly,toimproveanti-counterfeiting?technologytodealwiththe?fake?merchandiseproblemalsocountsinordertoincreasesales.Thefakewillgiveabadreputationtothecompanyproducts,asaresult,willdecreasethesales.
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