 |
||
|
|
||
| |||||||||||
History: Making sure the hair creams taste OK L'Oreal buffs, scrubs, and powders the world. The company's extensive line of beauty products is sold to American men and women through its main U.S. subsidiary, Cosmair. Based in Clichy, France, L'Oreal was founded by chemist Eugene Schueller, who coined the company's nonsensical name because he liked the way it sounded. He started L'Oreal in 1909 to market his hair coloring products, and soon expanded into shampoos and soaps. Under Schueller's watchful and eccentric eye - he was known to taste hair creams to ensure the chemical composition was correct - the company bloomed, beating competitors to the punch by advertising on radio in the 1920s. Following Schueller's 1957 death, his right-hand man Francois Dalle took the helm and sailed L'Oreal overseas to the growing market in America. The company went public in 1963. Diversification followed, with a string of cosmetics acquisitions, including that of French makeup maker Lancome. L'Oreal ventured into pharmaceuticals in 1973, with the purchase of Synthelabo, and bought a small stake in the fashion magazine Marie Claire in 1977. In 1999, Synthelabo merged with pharmaceutical firm Sanofi to form Sanofi-Syntehlabo, of which L'Oreal now owns a 20 percent stake. International expansion Continued expansion in the 1980s pushed L'Oreal to the top of the cosmetic bag. Major acquisitions included the cosmetics operations of Warner Communications, giving L'Oreal the rights to the Ralph Lauren and Gloria Vanderbilt brand names, U.S. beauty products maker Helena Rubenstein, and nearly half of Jeanne Lanvin perfumes. The company appeased animal rights activists in 1993, when it announced it would end all animal testing. In addition, L'Oreal's environment-conscious practices have garnered it a number of awards in the U.S. and Europe. In 1994, the company beefed up its U.S. presence with the purchase of Cosmair, formerly its U.S. licensee. A year later, it bought two generic drug companies, and reached the No. 2 spot in U.S. cosmetics with the $508 million purchase of Maybelline. Today the company operates more than 400 subsidiaries and 500 brands, with a market spanning 150 countries. The company created subsidiaries in Japan and China in 1996. Future plans include aggressive expansion into new markets, including developing countries like Romania and Slovenia. The $100 million acquisition of Kiehl's in 2000 brings to L'Oreal a cultishly popular and hip upscale brand, with a devoted following. The company hopes to extend the Kiehl's line to Europe and Asia, while maintaining exclusivity. Perhaps a more notable acquisition, the purchase of Matrix Essentials, maker of such hair care brands as Biolage and Opticurl, made L'Oreal the top U.S. professional hair product seller. South Americans are not immune to the effects of L'Oreal's growth; the acquisition of Laboratories Ylang S.A. made Argentina's largest producer of mass-market make up yet another part of L'Oreal's impressive line-up. The addition of 25 percent of Argentina's make up market confirms L'Oreal's position as a worldwide leader in the cosmetics industry. A L'Oreal for all peoples As it has expanded internationally, L'Oreal has consistently addressed the needs of different ethnic groups when developing its products; the company invests a great deal in research and development. For example, L'Oreal runs three research centers in Japan, where researchers monitor consumer habits and work to develop products specific to Asian skin and hair types. Recently, L'Oreal scientists conducted tests at the Jules Verne climatic wind tunnel (in Nantes, France), to study how skin reacts to different weather conditions. As a result, they have developed new formulas more suitable for customers in hot, humid climates like India - where the company has begun marketing aggressively. L'Oreal has also begun to market aggressively to men with its new Feria line of hair coloring products, and not just to graying ones either - a new ad campaign launched in 1999 has targeted the younger crowd. The coloring product is gender neutral as well, featuring both men and women on its boxes. Besides increasing the physical attractiveness of its customers, L'Oreal seeks to encourage and reward mental excellence. The cosmetics company teamed up with the United Nations Organization for Education, Science and Culture (UNESCO) on For Women in Science, a five-year agreement to carry out projects that promote women in science across the world.
L'Oreal has an expansive web site, complete with more recruiting and internship info than you can shake a kohl liner at. There are thorough descriptions of each department and different career paths within the company. You can only apply online, however. The company does not post a mailing address anywhere on the site. If you don't have an e-mail address, they advise you to get one – through one of the free e-mail services like Yahoo! or Hotmail. Insiders advise applicants to check out the web site, as well as L'Oreal products and advertisements. One notes, "The interviews are generally not technical, but it is helpful to have some kind of industry knowledge. It shows that you are really interested in working in the beauty industry." That contact continues, "I interviewed a woman last week for a position in our marketing department. She knew that our division was a professional division (selling to distributors who sell to salons only), so she went to her hairdresser and asked questions about the industry and how the professional side works. She brought this up during the interview, and when I was recapping it to the other interviewers, we were all impressed that she took this initiative." Some described the interview process as "rather informal," though the company's large size makes generalizations difficult. The typical process includes an initial human resources interview, a second interview with your potential manager, and a third interview with their superior. One insider reports: "The last interview was a little stressful."
Vive la France! "Fast-paced" and "ever-changing" describes L'Oreal, which many say reflects its French roots. "The company has some typical French characteristics," reports one former employee, "such as lots of political and influential games between people, lots of unproductive time spent in meetings, and more gossip than usual." That contact reports, "I had a great time working there, but I am more comfortable at a U.S.-influenced company." "The French believe in lifetime employment," notes another insider. "Unless you really screw up, you have a job here for life." This breeds remarkable loyalty among L'Oreal employees. One notes that "the company is very good to hard workers, and believes in promoting from within." Hours typically run 9 to 5, though one marketing insider reports: "We do work Saturdays when needed." Summer hours are 8:30 to 5:15 everyday except Friday, when employees leave at 1:30 PM. (Summer hours start in mid-May at L'Oreal.) Pay is described as "above industry standards." Business formal is expected Monday through Thursday, with business casual on Fridays. Vacation time starts at two weeks, and increases with tenure: three weeks after five years, four weeks after 12 years, and five weeks after 20 years. No worries about gender discrimination Insiders praise the company's female-friendly policies, on-the-job training, and "excellent" benefits package. "There is no discrimination of any kind," reports one insider, "There are women in excellent positions throughout the company- vice presidents, managers, etc." Another notes, "The majority of our work force, and customers are women - L'Oreal doesn't discriminate." And this is certainly the case in terms of ethnic diversity - the company is quite proud of its international flavor, and most employees are multilingual. In 1997 alone, L'Oreal hired 700 managers representing 45 different nationalities. You've got beautiful benefits! Benefits, described by one insider as "very good," include health insurance, a 401(k) plan, pension plan, and credit union. Another plus, "All employees receive $55 every two months to be used in the company store." All new hires go through a "basic training" program that lasts from three to six months.
Human Resources
Estee Lauder;Procter & Gamble;Shiseido More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
