L'oréal - Building a Global Cosmetic Brand
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Case Details:
Case Code : MKTG062
Case Length : 12 Pages
Period : 1993-2003
Pub Date : 2003
Teaching Note :Not Available
Organization : L'Orèal
Industry : Cosmetics
Countries : France
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"It is a strategy based on buying local cosmetics brands, giving them a facelift and exporting them around the world."
- One Brand at a Time: The Secret of L'Oréal's Global Makeover, www.fortune.com, August 12, 2002.
L'oréal Makes Waves
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In November 2002, L'Oréal, the France-based leading global cosmetics major, received the 'Global Corporate Achievement Award 2002,' for Europe by 'The Economist Group.'
Awarded by the publisher of the world's leading weekly business and current affairs journal 'The Economist,' the honor was given in appreciation and recognition of the 'depth, breadth, and diversity of L'Oréal's management team.'
In the same month, L'Oréal's Chairman and CEO, Lindsey Owen Jones (Jones) was honored with the 'Best Manager of the Last 20 Years' title by the French Minister of Finance and Economy, Francis Mer.
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This award instituted by the leading French business publication, Challenges, was in recognition of Jones' outstanding achievements in transforming L'Oréal from a French company into a global powerhouse.
Jones also received the
prestigious 'Manager of the Year 2002' award from the French Prime Minister, Jean-Pierre Raffarin. Jones was the first foreign head of any French company to receive this award, which was sponsored by the leading French business publication, Le Nouvel Economiste.
These honors were not just a 'cosmetic' eulogy; L'Oréal deserved them, for it was the only company in its industry to post a double-digit profit for 18 consecutive years (Refer Exhibit I for L'Oréal's key financials).
L'oréal - Building a Global Cosmetic Brand
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