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L’Oréal

 

Metrics

Leadership

Sustainability

CSR & Impact

Talent/People/Culture

Innovation

Digital Transformation

Economic Priorities

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      Summary

      What began as French chemist Eugène Paul Louis Schueller developing a hair dye formula in 1909 transformed into the world’s leading beauty conglomerate, The L’Oréal Group.

      History

      In 1909, French chemist Eugène Paul Louis Schueller developed a hair dye formula named Oréale, which he then sold to Parisian hairdressers. The vision of the brand, which later became The L’Oréal Group, was research and innovation in the field of beauty. In 1920, the company employed three chemists although it has evolved to an 88,000- strong team today. L’Oréal’s famous advertising slogan, “Because I’m worth it”, was created by a twenty-three year-old art director and introduced in 1973 by model and actress Joanne Dusseau. In the mid-2000s, it was replaced by “Because you’re worth it”. In 2009, it changed again to “Because we’re worth it” to create stronger consumer involvement. For L’Oréal Kids, the slogan is “Because we’re worth it too”.

      Schueller provided financial support for French fascist-leaning and anti-communist group La Cagoule at L’Oréal headquarters. Its leader formed political party Mouvement Social Révolutionnaire which in Occupied France supported the Vichy collaboration with the Germans. In the aftermath of WWII, L’Oréal hired several members of the group as executives such as Jacques Corrèze, who served as CEO of the US operation. L’Oréal currently markets over five hundred brands and thousands of individual products including hair color, permanents, hair styling, body and skincare, cleansers, makeup and fragrance.

      Under the management of Lindsey Owen-Jones, the conglomerate became the leader in cosmetics through the worldwide presence of its brands and strategic acquisitions. L’Oréal has six research and development centres in France, U.S.A, Japan, China and India. The company acquired Synthélabo in 1973. Synthélabo merged with Sanofi in 1999 to become Sanofi-Synthélabo, which in turn merged with Aventis in 2004 to become Sanofi-Aventis. On 17 March 2006, L’Oréal purchased cosmetics company The Body Shop for reported £562 million.

      In January 2014, it acquired Chinese beauty brand Magic Holdings for reported $840 million. The following month, L’Oreal bought back eight per cent of its shares for a reported €3.4bn from Nestlé. Few know Nestlé owned a stake in L’Oreal since 1974 when it bought into the company at the request of Liliane Bettencourt, daughter of the founder of L’Oreal, who was trying to prevent French state intervention. In February 2014, Shiseido agreed to sell Carita and Decléor to L’Oréal for reported €227.5 million. In June, L’Oréal acquired NYX Cosmetics. In September, it purchased Brazilian hair care company Niely Cosmeticos. The following month, it acquired multi-cultural brand Carol’s Daughter. In July 2016, L’Oréal acquired IT Cosmetics for reported $1.2 billion. In March 2018, it acquired beauty augmented reality company ModiFace. The same year, L’Oréal announce a new beauty and fragrance partnership with Valentino.

      With Jean-Paul Agon as iChairman and CEO, L’Oréal has a clear mission statement: Beauty for All. ‘What makes us unique? The passion for innovation transmitted by our founder, a researcher. We have an obsession with superior quality, efficacy, sincerity, and safety of our products. Respect for diversity with strong brands that meet all needs and desires’ he stated in a company release. In 2020, chief digital officer Lubomira Rochet reported the growing importance of e-commerce for the company, explaining that e-commerce accounted for twenty four per cent of their turnover in the third quarter.

      Vision

      L’Oréal’s vision encompasses several key aspects that guide its business operations and strategic decisions. Firstly, the company aims to maintain its position as a global leader in the beauty industry. This entails being recognized as the go-to brand for consumers seeking innovative, high-quality, and reliable beauty and cosmetic products. L’Oréal strives to set trends rather than follow them, staying ahead of the curve by anticipating and understanding consumer preferences and needs.

      Central to L’Oréal’s vision is the belief that beauty should be inclusive and accessible to all. The company endeavours to develop products that cater to a diverse range of skin tones, hair types, and beauty preferences, ensuring that everyone can find products that resonate with their individuality. L’Oréal embraces the concept of self-expression and empowers individuals to embrace their uniqueness through beauty.

      Innovation is a cornerstone of L’Oréal’s vision. The company is committed to continuous research and development, seeking cutting-edge technologies and breakthrough formulations that deliver superior results. L’Oréal invests heavily in scientific research, collaborating with experts, dermatologists, and haircare professionals to create innovative solutions that address specific beauty concerns. By constantly pushing boundaries, L’Oréal aims to shape the future of the beauty industry and pioneer new beauty trends.

      Sustainability is also a fundamental part of L’Oréal’s vision. The company recognizes its responsibility to contribute to a more sustainable and environmentally conscious future. L’Oréal has set ambitious sustainability goals, including reducing its environmental footprint, implementing sustainable sourcing practices, and promoting ethical and responsible business practices throughout its supply chain. L’Oréal is committed to minimizing its impact on the environment, supporting local communities, and promoting diversity and inclusion within its workforce.

      Mission Statement

      L’Oréal’s mission revolves around empowering its customers by providing them with mission-critical solutions, services, and products that help them achieve their evolving goals and meet their needs. The company is committed to understanding the desires and aspirations of its customers in the dynamic world of beauty and cosmetics.

      L’Oréal aims to be a trusted partner to individuals, hairdressers, professionals, and beauty enthusiasts worldwide. It strives to create innovative and effective solutions that cater to diverse cultures, styles, and preferences. By staying attuned to the ever-changing beauty landscape, L’Oréal ensures that it consistently delivers products and services that meet the evolving demands and expectations of its customers.

      Through extensive research, cutting-edge technologies, and a deep understanding of beauty trends, L’Oréal is dedicated to developing mission-critical solutions. These solutions not only enhance the beauty and well-being of individuals but also address specific concerns and challenges faced by professionals in the industry.

      L’Oréal’s mission extends beyond providing exceptional products and services. The company recognizes its responsibility to contribute to the sustainable development of the beauty industry and the communities it serves. It strives to integrate social, environmental, and ethical considerations into its practices, promoting responsible innovation, and actively participating in initiatives that support the well-being of people and the planet.

      By embracing its mission, L’Oréal aims to inspire confidence, self-expression, and personal fulfillment for individuals, while fostering a positive impact on society as a whole.

      Products And Services

      L’Oréal offers a diverse range of products in various sectors of the beauty industry. The company has an extensive portfolio of brands that cater to different needs and preferences, ensuring there is something for everyone. Some of the key product categories offered by L’Oréal include:

      Skincare: L’Oréal provides a wide array of skincare products, including cleansers, moisturizers, serums, masks, and treatments. These products are formulated to address different skin concerns such as hydration, anti-aging, brightening, and blemish control. L’Oréal’s skincare brands include L’Oréal Paris, Garnier, La Roche-Posay, and Vichy.

      Haircare: L’Oréal is renowned for its expertise in haircare. The company offers a comprehensive range of shampoos, conditioners, hair treatments, and styling products. L’Oréal’s haircare brands cater to different hair types, textures, and concerns, providing solutions for nourishment, repair, volume, colour protection, and styling. Some popular haircare brands under L’Oréal include L’Oréal Professionnel, Matrix, Redken, and Kerastase.

      Hair Color: L’Oréal is a leader in the hair colour industry, providing a wide range of options for hair dyeing and colouring. Whether it’s permanent, semi-permanent, or temporary colour, L’Oréal offers an extensive selection of shades and formulas to suit various preferences. L’Oréal’s hair color brands include L’Oréal Paris Excellence, Feria, Preference, and INOA.

      Makeup: L’Oréal offers a comprehensive range of makeup products, including foundations, concealers, lipsticks, eyeshadows, mascaras, and more. The company’s makeup brands cater to diverse skin tones and preferences, allowing individuals to enhance their natural beauty and express their unique style. Some popular makeup brands under L’Oréal include Maybelline New York, NYX Professional Makeup, Lancôme, and Urban Decay.

      Fragrances: L’Oréal also has a presence in the fragrance industry, offering a wide selection of perfumes and colognes for both men and women. The company collaborates with renowned perfumers and designers to create captivating scents that evoke different moods and emotions. L’Oréal’s fragrance brands include Lancôme, Giorgio Armani, Ralph Lauren, and Yves Saint Laurent.

      References