L'Oreal is one of the largest cosmetics companies in the world. It produces and markets a range of make-up, perfume, hair and skin care products. The company's products are sold under well-known brands such as L'Oreal Paris, Garnier, Maybelline, SoftSheen Carson, CCB Paris, L'Oreal Professionel, Kerastase, and Redken. It markets 19 global brands through three divisions: cosmetics (comprising of skincare, haircare, make-up, hair colorants, perfumes and other products), The Body Shop (it has become a part of L'Oreal after its acquisition in March 2006) and dermatology (comprising of drugs for acne treatment and others). The cosmetics division of L'Oreal operates through four segments: professional products, consumer products, luxury products and active cosmetics. L'Oreal has a diversified geographic presence. The company currently has operations in over 130 countries across five continents. The different brands associated to the four divisions of l'Oréal are the following: -Professional products
On 17 March 2006, L'Oréal made a £652 million agreed takeover of ethical cosmetics company The Body Shop. There was a huge controversy surrounding claims that L'Oreal continues to test on animals, which contradicts The Body Shop's core value of Against Animal Testing. L'Oreal states the company has not tested on animals since 1989. This acquisition has been an important step in the L'Oréal Corporate strategy since The Body Shop has emphasized its support for a wide range of issues around the globe. Its slogans included: Against Animal Testing, Support Community Trade, Activate Self Esteem, Defend Human Rights, and Protect Our Planet. The Body Shop International plc, known as The Body Shop, has over 2,000 stores in more than 50 countries. Following O Boticario, brazilian company, The Body Shop is the second largest cosmetic franchise in the world. The company is known for its vegetable-based products ranging from Body Butter, Peppermint Foot Lotion, and Hemp. Source: Official Body Shop Main Site: www.thebodyshop.com/bodyshop/ L'Oréal Official Website : www.loreal.com
I Mission, Objectives & Statement of Values
The company's commitments and goals are set forth explicitly in the text of L'Oréal's Mission and statement of values which reads as follows:
The mission is an overriding purpose in line with the values or expectations of stakeholders.
a) Mission of l'Oréal: "Cosmetics Are Part Of The Universal Quest For Beauty". As a form of self expression, they are personal in the fullest sense - just as they are part of social life, serving a daily need for self confidence and contact with others. At L'Oréal, we are fully committed to meeting that need, putting all our expertise and research resources to work for the well-being of men and women, in all their diversity, around the world. That commitment is what gives meaning to our business.
L'Oréal lauds « The right to be beautiful day after day: L'Oréal strives to make this a reality within the reach of every woman and every man. This ambition is reflected in a brand portfolio unequalled anywhere in the world. Since its creation in 1909, the group has always considered this mission of prime importance.
The thousands of men and women who have built up the group across the world have made this their personal mission statement.
They use their intelligence and creativity, their innovative ability and all their expertise to further the cause of beauty the world over.
As well as meeting current consumer aspirations, L'Oréal anticipates their future expectations, being, as always, determined to promote an approach to beauty that is fun, affordable, fulfilling, genuine and generous.
None of this would be possible without L'Oréal's deep respect for human beings of all types and nationalities, and without its genuine commitment to a...