L’oréal: Practical Application of Theory, Concepts and Analytical Tools in the Context of the L’oréal Group
L’Oréal
Practical application of theory, concepts and analytical tools in the context of the L’Oréal Group
May 16, 2011
Company description
Before analyzing and evaluating the international business activities of the L’Oréal Group, we first provide you a short overview of the firm, in which covers the most essential aspects are covered.
History
In 1907, a young chemist named Eugène Schueller developed the first synthetic hair dyes and sold it to hair salons in Paris under the brand name Auréole. Two years later, he registered his company as Société Française de Teintures Inoffensives pour Cheveux, which later became L’Oréal, a company with a strong focus on research and innovation for beauty products. From that moment until 1984, the company was on the road to greatness as it began to grow rapidly. The firm reached its peak in the period 1984-2000 and today, the L’Oréal Group markets more than 500 brands, including The Body Shop, Maybelline, Biotherm, Cacharel, Giorgio Armani Perfumes & Cosmetics, Vichy, and Ralph Lauren Fragrances. While the company started off with solely producing hair products, it now offers thousands of different products around the world, varying from make-up to perfumes to skin and hair care products, making it the leader in the global cosmetics market.
Current status The firm’s total revenues accounted for 19.5 billion dollars in 2010, with net profits being 2.24 billion dollars. With their 66,000 employees and ranking 353 in the Fortune Global 500, the L’Oréal Group is the largest cosmetics and beauty firm in the world.
The company became market leader in nearly every country it operates in. Their strong commitment to research and development has greatly contributed to this, as it led to increasingly safe and effective products. Having reached a stable growth rate and worldwide recognition, L’Oréal currently puts increasingly more focus on ethics, social and environmental responsibility. Not only did they win several
Practical application of theory, concepts and analytical tools in the context of the L’Oréal Group
May 16, 2011
Company description
Before analyzing and evaluating the international business activities of the L’Oréal Group, we first provide you a short overview of the firm, in which covers the most essential aspects are covered.
History
In 1907, a young chemist named Eugène Schueller developed the first synthetic hair dyes and sold it to hair salons in Paris under the brand name Auréole. Two years later, he registered his company as Société Française de Teintures Inoffensives pour Cheveux, which later became L’Oréal, a company with a strong focus on research and innovation for beauty products. From that moment until 1984, the company was on the road to greatness as it began to grow rapidly. The firm reached its peak in the period 1984-2000 and today, the L’Oréal Group markets more than 500 brands, including The Body Shop, Maybelline, Biotherm, Cacharel, Giorgio Armani Perfumes & Cosmetics, Vichy, and Ralph Lauren Fragrances. While the company started off with solely producing hair products, it now offers thousands of different products around the world, varying from make-up to perfumes to skin and hair care products, making it the leader in the global cosmetics market.
Current status The firm’s total revenues accounted for 19.5 billion dollars in 2010, with net profits being 2.24 billion dollars. With their 66,000 employees and ranking 353 in the Fortune Global 500, the L’Oréal Group is the largest cosmetics and beauty firm in the world.
The company became market leader in nearly every country it operates in. Their strong commitment to research and development has greatly contributed to this, as it led to increasingly safe and effective products. Having reached a stable growth rate and worldwide recognition, L’Oréal currently puts increasingly more focus on ethics, social and environmental responsibility. Not only did they win several
Bibliography: * Kumar, S 2004, ‘Exploratory analysis of global cosmetic industry: major players, technology and market trends’ Technovation, vol. 25, no. 11, pp. 1263-1272, viewed 12 May 2011, retrieved from Science Direct database.