London ( CNN ) -- L'Oreal harnessed the French reputation for elegance to become a global cosmetics giant -- and the company 's CEO says European economies should apply similar logic to escape their current woes . Jean-Paul Agon , L'Oreal 's chair and chief executive , said European countries need to identify areas of expertise to succeed in the global marketplace -- just like companies . `` You have to specialize yourself in some areas where you are going to be [ in ] the top league worldwide , '' he said . European countries had great potential if they could only find their niche , he added . `` Europe could be rich ( given ) the diversity of its countries , the diversity of its expertise , as long as each country is able to maximize its success , its potential in its own field . '' Agon has worked for L'Oreal since joining the company in 1978 , with stints heading its operations in Greece and Germany -- an experience he said had given him unusual insight into Europe 's current predicament . `` Based on this experience , I can see that it is very difficult for these two countries to live under the same currency , '' he said . `` I think the German economy is successful because they have found their role in the worldwide economy . I think Greece has also to define what they can be good at , and what they will be known for , and famous for around the world . '' Identifying France 's particular area of economic potential should be a priority issue in the upcoming election , he said . `` France has talents that no other country [ has ] ... in terms of luxury , in terms of technology . This is something the world needs and France has a great role to play . '' Other European countries needed to do the same thing -- then work in unison as a cohesive economic bloc . France and other countries of Europe needed to unite and define objectives and ambitions , he said . Each economy was now competing in a global marketplace , `` whether we like it or not , '' he said . `` If a country , like a company , wants to develop its business -- to grow -- it has to grab business from all around the world . '' To that end , Agon said he expected emerging markets would drive L'Oreal 's expansion in the immediate future . Growth is likely to come from China and Brazil , he said , where the middle classes are booming . `` You have hundreds of millions of consumers really want [ ing ] access to these products , '' he said .
L'Oreal 's CEO says that Europe 's economies need to find their global niche . Like companies , they need to find their area of expertise to survive . Comment: Identifying France 's role in the global marketplace should be an election issue .