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May 15, 2006
L'Oreal Receives International Corporate Diversity Innovation Award
Award for leadership in providing products adapted to the needs of global consumers.
L'Oreal, one of the world's leading cosmetics companies, received the World Diversity Leadership Council's Corporate Diversity Innovation award for product innovation. This is the first time that L'Oreal has received an international recognition for the cultural diversity of its products.
L'Oreal was among four companies honoured for innovation in diversity management during the World Diversity Leadership Summit held in Prague. L'Oreal was selected by a peer group of respected corporate diversity executives who recognised its excellence in leveraging diversity to offer innovative products adapted to a wide range of global consumers, including people of African and Asian origin. The three-day forum was attended by 200 senior corporate, government and non-governmental organisation officials from around the world.
L'Oreal has 18 international brands of American, European and Asian origin including Soft-Sheen, Carson, Shu Uemura, Lancome, Maybelline and Giorgio Armani. L'Oreal has 14 research centres and 13 evaluation centres throughout the world including The L'Oreal Institute for Ethnic Hair and Skin Research in Chicago and the newly inaugurated Pudong L'Oreal Research Centre for Asian hair and skin in China. In 2005, L'Oreal dedicated almost $600 million to cosmetic and dermatological research.
L'Oreal USA, headquartered in New York City, with 2005 sales of over $4 billion and 7,900 employees, is a wholly-owned subsidiary of L'Oreal SA.
L'Oreal's impressive portfolio of brands includes Lancome, Giorgio Armani, Shu Uemura, L'Oreal Paris, Garnier, Vichy, Biotherm, La Roche-Posay, L'Oreal Professionel and Kerastase. The U.S. is the base for the product development, international marketing and advertising for L'OreÌals eight American brands: Maybelline New York, Soft-Sheen.Carson, Kiehl's Since 1851, Ralph Lauren, Redken 5th Avenue NYC, Matrix, Mizani and SkinCeuticals.
Launched in 2004, the World Diversity Leadership Summit has become a high-profile forum for addressing the challenges and opportunities related to diversity management. Douglas Freeman, Co-Chair Selection Committee for the World Diversity Leadership Council said: “L'Oreal has distinguished itself amongst the other candidates in leveraging diversity to offer innovative products to a wider range of global consumers.”
“What makes this award unique is that it really fits with the core of L'OreÌal's business, creating innovative products that address the needs of global consumers,” said Ed Bullock, L'OreÌal USA's Vice President of Diversity, receiving the award on behalf of Sir Lindsay Owen-Jones, President and CEO of L'OreÌal. “We are truly delighted to receive this recognition for our long standing efforts and commitment to the cultural diversity of our products, brands, workforces and communities,” he added.
L'Oreal SA, headquartered in Paris , maintains a diverse, yet complementary, portfolio of 18 international brands, sold in 130 countries. In 2005, L'Oreal reported consolidated sales of $17.53 billion. The group has a global workforce of 52,000 employees.
L'Oreal is the cosmetics industry's largest investor in research with a hi-tech industrial approach that guarantees innovative, high-value-added products.
Edited & Posted by the Editor | 11:18 AM | Link to this Post
