L’Oreal is the most well known as well as the largest company of cosmetics and beauty across the world. TheHeadquarters of the company is situated in the Paris suburb of Clichy, France. The major fields in which the company focuses are cosmetics, skin care, sun protection, make-up, perfumes, hair color and hair care. L’Oreal is also active in the field of dermatology and pharmaceutical businesses. More than a quarter of the shares and voting rights of the company is controlled by the founder’s daughter and the food company, Nestle. It is also a top nanotechnology patent-holder in the US.
The origins of the company go back to 1907 when Eugene Schueller, the founder of the company was a young chemist. He developed a formula for hair-color. To this improved hair dye he gave the name Aureole. Initially the product was manufactured and formulated by Eugene Schueller but after some time he sold out the company to Parisian hairdressers. In the year 1909 the company was registered as Société Française de Teintures Inoffensives pour Cheveux which was the original name of the company.
In the beginning this company was very small and did not have many employees in it. In year 1920 there were only three chemists while by the year 1950 the strength was 100. By the year 1984 strength was increased to the number 1000 and presently the company has 2000 employees. The owners of the L’Oreal always wanted to make cosmetics products and beauty to be within the reach of every man and woman. They wanted that none of the available portfolio in the market should be equal to L’Oreal’s brand portfolio. Each and every employee of this company always works keeping this aim in their mind.
Sanofi-Aventis which is the world’s 3rd and Europe’s number 1 pharmacy company has 10.41% of its shares held by L’Oreal. A joint venture with Nestle for nutritional cosmetics resulted in the formation of Lab Inneov. The lab has been benefited by the knowledge of L’Oreal in Nutrition as well as food safety. Yet another joint venture between L’Oreal and Nestle in the field of dermatology is Galderma. In 2006 the ocmpany bought The Body Shop in a £652 million deal.
There are many products which are produced by the L’Oreal. Though the company began its work in the hair-color buisness it diversified into beauty as well as cleansing products as well. The company now sells more than 500 brands as well as a plethora of individual products in almost every sector of the cosmetics business. The company’s foucs on research as well as innovation have helped the company to stand a good position in the market. It is one of the biggest names in the cosmetics secotor and aims to live up to the highest standards.
- The headquarters of the company is located at Clichy, France.
- As of 2007 the company had 63,360 employees.
- The company earned revenue of €17.06 billion in 2007.
L’Oreal, cosmetics, products, company, beauty