Developed, produced, and launched exclusively for AS Watson Group, the L'Oréal Paris Infallible Setting Mist Cherry Edition is a limited-edition innovation of L'Oréal Paris' best-selling, viral product, designed to capture the fast-growing setting spray segment. The product combines L'Oréal Paris' proven hero formula with a bold cherry-inspired twist and distinctive pink packaging, purpose-built to resonate with Gen Z beauty consumers. As a brand committed to making beauty accessible to all, this partnership and innovation are exciting opportunities for L'Oréal Paris to connect with an even wider audience.

The product is currently live in the UK, with further rollout planned across 14 additional global markets, including nine in Europe, five in Asia and the GCC.

Malina Ngai, Group CEO of AS Watson Group, said, "This co-creation with L'Oréal Paris reflects how we are redefining the role of the retailer—from distributor to true innovation partner. By combining our deep consumer insights, omnichannel execution strength and L'Oréal Paris' world-class R&D and brand power, we are creating products that are culturally relevant, commercially powerful and truly differentiated."

The Infallible Setting Mist Cherry Edition is supported by a full end to end O+O (Offline plus Online) strategy, spanning:

1. Social first teaser campaigns and creator-led content to fuel desirability
2. High impact in store theatre and online dominance to drive conversion
3. O+O activation models that ensure seamless consumer journeys from discovery to purchase

With 75% of consumers more likely to buy limited edition packaging, the launch positions the product as a collectible must have, transforming a daily beauty essential into a social and cultural statement.

"Co-creation at this level, with a trusted retail partner, represents a new frontier for L'Oréal Paris and the Consumer Products Division," said Fabrice Megarbane, president of L'Oréal's Consumer Products Division. "The Infallible Setting Mist Cherry Edition is proof that when category leadership meets retail excellence, the result is innovation that is culturally resonant and commercially compelling. We are truly honoured to make history with AS Watson. This is only just the beginning."

Scaling Beyond Europe

Following strong early momentum in Europe, the Infallible Setting Mist Cherry Edition will expand into GCC and Asia, with launches planned in Malaysia, Thailand, the Philippines and Singapore later in the year. The rollout will be supported by localised social activation, in store maximisation and immersive brand experiences under the theme "Cherry Fix Summer Soirée."

This exclusive co creation underscores both L'Oréal Paris and AS Watson's commitment to building next generation beauty ecosystems—where data, creativity and operational excellence come together to deliver stronger value for consumers, brand partners and stakeholders.

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About AS Watson Group

Established in 1841, AS Watson Group is one of the world's longest-standing and most recognised retail companies with roots in Asia. Today, the company operates over 17,000 stores across 12 retail brands in 31 markets, employing 130,000 people globally. This makes AS Watson Group the largest international health and beauty retailer in the world.

In the fiscal year 2025, AS Watson Group reported revenue of over US$26 billion. The company's technology-enabled O+O (Offline plus Online) platforms serve over 6 billion shoppers annually, seamlessly integrating physical and digital retail experiences.

AS Watson Group supported over 180 charitable and non-profit organisations every year, dedicating over 40,000 hours of volunteer work to serve over 370,000 people in need in our operating markets.

AS Watson Group is also a member of the world-renowned multinational conglomerate CK Hutchison Holdings Limited, which has four core businesses ‐ ports and related services, retail, infrastructure and telecommunications in over 50 countries.

Please visit www.aswatson.com/our-company/o-and-o-strategy/ for more information.

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