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The L’Oréal Group Euronext: FR0000120321, headquartered in the Paris suburb of Clichy, France, is the world's largest cosmetics and beauty company. L’Oréal has developed activities in the field of cosmetics, concentrating on hair color, skin care, sun protection, make-up, perfumes and hair care. L’Oréal is active in the dermatological and pharmaceutical fields. L’Oréal is also the top nanotechnology patent-holder in the United States. THe CEO of L'Oreal SA in France is Jean-Paul Agon. L'Oréal is a listed company, but the founder's daugher Liliane Bettencourt, who is one of the richest people in the world, and the Swiss food company Nestlé each control over a quarter of the shares and voting rights.
History
In 1909, Schueller registered his company, the Société Française de Teintures Inoffensives pour Cheveux ("Safe Hair Dye Company of France"), the future L’Oréal. The guiding principles of the company that would become L’Oréal were put into place from the start: research and innovation in the interest of beauty. During the early twentieth century, Schueller provided financial support and held meetings for La Cagoule at L’Oréal headquarters. La Cagoule was a violent French fascist-leaning and anti-communist group. L'Oréal hired several members of the group as executives after World War II. In 1920, the small company employed three chemists. By 1950, the research teams were 100 strong; that number reached 1,000 by 1984 and is nearly 2,000 today.
L’Oréal has five worldwide research and development centers: two in France: Aulnay and Chevilly; one in the U.S.: Clark, New Jersey; one in Japan: Kawasaki, Kanagawa; and in 2005, one was established in China, Shanghai. L’Oréal purchased Synthélabo in 1973 to pursue its ambitions in the pharmaceutical field. Synthélabo merged with Sanofi in 1999 to become Sanofi-Synthélabo. Sanofi-Synthélabo merged with Aventis in 2004 to become Sanofi-Aventis. On 17 March 2006 L'Oréal made a £652 million agreed takeover of ethical cosmetics company The Body Shop. BusinessCorporate governanceBoard of directorsCurrent members of the board of directors of L’Oréal are: Francisco Basco, Werner Bauer, Liliane Bettencourt, Peter Brabeck-Letmathe, Jean-Louis Dumas, Xavier Fontanet, Bernard Kasriel, Marc Lacharrière, Françoise Meyers, Jean-Pierre Meyers, Lindsay Owen-Jones, Franck Riboud, and Louis Schweitzer. Management committeeThe management committee includes:
Stockholders
EarningsIn 2003, L’Oréal announced its 19th consecutive year of double-digit growth. Its consolidated sales was €14.029 bn and net profit was €1.653 bn. 96.7% of sales derived from cosmetic activities and 2.5% from dermatologic activities. L’Oréal has operations in over 130 countries, employing 50,500 people, 24% of which work in France. 3.3% of cosolidated sales is invested in research and development, which accounts for 2,900 of its employees. In 2003 it applied for 515 patents. It operates 42 manufacturing plants throughout the world, which employ 14,000 people.
Joint ventures and minority interestsL’Oréal holds 10.41% of the shares of Sanofi-Aventis, the world's number 3 and Europe's number 1 pharmaceutical company. The Laboratoires Inneov is a joint venture in nutritional cosmetics between L’Oréal and Nestlé; they draw on L’Oréal's knowledge in the fields of nutrition and food safety. Galderma is another joint venture in dermatology between L'Oréal and Nestlé.
BrandsBrands are categorized by their targeted markets, which are mass market, professional, luxury, and active.
Trivia
External links to the brandsMass market productsProfessional productsLuxury products
Active cosmetics
See also
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