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Within this report I have chosen to talk about a business which Paper

Words: 1561, Paragraphs: 14, Pages: 6

Paper type: Report , Subject: Accounting

Within this report I have chosen to talk about a business which trades within the European Union and the effects of the environment on the business, the business which I have chosen to talk about is L’Or?al. Within the report, I will be analyzing the environment in which businesses operate in examining business markets.

L’Or?al is a French based company, which produces hair products, makeup, perfume and skin care. Their headquarters is based in Clichy, Hauts-de-Seine in Paris. L’Or?al has set itself the mission of offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy and safety. It pursues this goal by meeting the infinite diversity of beauty needs and desires all over the world.

Loreals origins go back to 1907 when a young chemist named Eugene Schueller decided to experiment and formulate one of his first hair dyes. He named his brand oreal and his dyes stood out from the rest of the markets as they provided a subtle range of colours unlike the other businesses, which used henna or mineral salts, which would create an artificial bright look. On March 24, 1908, he filed for a patent. Through his determination scheuller convinced Paris hair stylists to use his dyes, Eugene had many ideas for his therefore he brings in representatives to sell his products all throughout France. Additionally set up a hair-colouring school. He realised that his success is very closely linked to a hair stylist’s so he set out to go in the path of the profession and his like for it grew stronger over time. As the war finished women began caring more about their appearance and finding ways to get rid of their grey hairs. Therefore oreal became very famous in Italy in 1910 and then Austria in 1911 and the Netherlands in 1913. Then it started reaching places such as the United States, UK etc. As his business grew, he continued to present new items in the beauty industry, introducing L’Or?al d’Or an incredible hair-lightening product that gave you gold tints and made women with darker hair have a ‘natural’ looking blonde look.

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Schueller then decides to take over a company named Savons Fran?ais, which was discovered in 1920. The product site of the company, which was in Rue Martre in Clichy, later became the L’Or?al’s headquarters. Eug?ne Schueller then began working on modernizing the business, mainly focusing on improving the quality of products. He also restyled the advertising campaign of monsavon the famous soap brand. People still around this time rarely washed their hair, Eau Capillaire the shampoo that earned its name from the French term “hair lotion” therefore put shampoo on the market this was to give people an awareness towards personal hygiene and Eugene did this with an educational approach. 1929, Eugene schueller worked to create subtle and longer lasting hair colors. His aim was to create an organic dye able to penetrate hair fibers. Competitors marketed their products in large containers, which caused high risk of oxidization whereas Schueller packaged Im?dia products in individual doses to increase safety and comfort for both hair stylists and end customers. After eugeune schueller died in 1957 and Fran?ois Dalle takes over the company. In addition, in 1963 the company was listed on the Paris Stock Exchange, which means access to new financial resources. In 1965 loreal buys on of the biggest company’s on the market today and that is lancome, lancome sells perfumes, makeup and skincare and loreal wanted to involve themselves in the perfumery channel. Synthelabo is one of the leading lights in the French pharmaceutical industry. L’Or?al’s research teams reached beyond cosmetics and got closer to remedial dermatology, this purchase of synthelabo in 1973 gave the Group the opportunity to develop its dermatological and dermopharmaceutical activities.

In the 1980s, L’Or?al achieves the title of world’s number one cosmetics company, largely through purchases such as Helena Rubinstein and an investment in Lanvin. In 1988 under the leadership of this highly individualistic director, the Group undergoes a complete and intense transformation. Lindsay Owen-Jones miraculously changes French Export Company and transforms it into an international group, operating in over 130 countries and present in all issuing networks. From a company producing primarily haircare products, he creates a broader range of activities, centred on five core businesses: hair colour, haircare, skincare, make-up, and perfume. From an abundance of national brands, he created a portfolio of 23 international megabrands, designed to meet the needs of both women and men throughout the world. Moreover, from a group with an utterly “made-in-France” vision of beauty and elegance, he establishes a standard of diversity that embraces all types of ethnic needs, all levels of purchasing power, and all cultural expectations in the realm of beauty.

1992 the death of Former chairman Jacques Correze occurred during an investigation into his Nazi war activities, He had served five years in prison.1994 L’Or?al buys control of Cosmair from Nestl?, Bettencourt. Then in 1995 L’Or?al obtains two generic drug companies, in both Germany and in France. Which later becomes the number two US cosmetics maker (behind Procter & Gamble) by buying Maybelline for $758m. 1996 L’Or?al adds branches of their company in Japan and China. L’Or?al’s 57pc-owned Synth?labo subsidiary merged with Elf Aquitaine’s pharmaceuticals unit, Sanofi. L’Or?al retains19.5pc stake.Loreal then in 2000 obtains ethnic beauty products maker Carson, Cosmetics Company Kiehl’s since 1851, and Matrix Essentials.

In 2001, many events occurred for loreal such as opening a new skin bioengineering center in Lyon (France), allowing the use of this wonderful technology on an industrial scale. loreal had grew an interest in “reconstructing of skin” since 1975 and have worked on it since then. L’Or?al has also joined the “World Business Council for Sustainable Development,” an independent international association of over 150 companies from all major industries. Its mission is to encourage the exchange of expertise in environmental, economic and social matters. L’Or?al has bought Biomedical, an American brand of professional corrective cosmetic products, sold and used by dermatologists. Based mainly on non-invasive acts combining safety and efficient cause, Biomedical has joined the Group brand la roche-posay a brand with the greatest dermatological valence. L’Or?al acquired one of softsheens subsidiaries in 1998, mizani and it was repositioned to a premium brand and soon after re-launched.

In 2002 in association with Nestl?, L’Or?al entered the market for nutritional supplements for the purposes of cosmetics with the creation of Inn?ov. The result of interaction between L’Or?al Research (knowledge of skin, evaluation methodologies) and Nestl? Research (bio-assimilation, nutritional ingredient stability), the brand is counting on scientific breakthroughs in order to develop this flourishing market. L’Or?al subscribes to the ten principles of the Global Compact (along with 10 other businesses), an able to be maintained development launched by the UN in 2000. The alliance with Mr. Shu Uemura, a magnificent make-up artist and beauty expert, also enables L’Or?al’s Division to enter the Japanese market, which occurred in 2003.2004, L’Or?al’s dedication to exhibit the diversity of its employees, customers, suppliers and models of beauty earns it the first Diversity Leadership Award for a company from the Diversity Best Practices organization. According to its president also its founder Ms. Edie Fraser “L’Or?al’s efforts to make diversity a business imperative as much as a social one are not just worthy of recognition, they are an extraordinary example for other companies to follow.”

In 2005 loreal opened a new research center in china pudong near shanghai, this being the 14th research center of theirs to open. L’Or?al main purpose by opening the new research center in china was to flourish in Asian skin and haircare.

2006 was the opening of the loreal hairdressing academy this being the largest hairdresser training center in the world. The academy based in rue royal also known as the heart of Paris. The idea of the academy was inspired by didier Gomez. In 2007, L’Or?al Paris makes a crucial discovery with Derma Genesis, the first ever skincare range to encourage skin cell growth. In the formula it included Pro-Xylane and hyaluronic acid, these products help create an environment to care for new skin cells, visibly reviving the skin. Derma Genesis has produced two new lines since then – a range of intense smoothing care for women who wish to reduce fine lines and visible pores. L’Or?al creates its Corporate Foundation. This is devoted to supporting education, promoting scientific research and helping people. L’Or?al makes a compelling statement of social responsibility, and takes a crucial step onwards as a corporate citizen.

In 2009 loreal celebrated its 100th anniversary of the company.later on in 2011 after 20 long years at the head of loreal sir Lindsay owen jones handed over the chairmanship position to his ceo jean paul agon.

3rd September 2015 loreal was determinded to fight climate change therefore; they announced that they aspire to become a “carbon balanced” company by the year 2020.

In 2018, for the third year in total, L’Or?al achieved an ‘A’ score in all three of the rankings managed by CDP, for its attempts on climate protection, sustainable water management and fighting against deforestation. L’Or?al is the only company in the world to have been recognised for achieving the highest level of performance for three consecutive years.

Loreal claimed “96% of the Group’s permanent employees benefit from health cover in line with best practices in their country” In 2018. Assuring people it is one of the best company’s in the market.

About the author

This paper is written by Sebastian He is a student at the University of Pennsylvania, Philadelphia, PA; his major is Business. All the content of this paper is his perspective on Within this report I have chosen to talk about a business which and should be used only as a possible source of ideas.

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