Word: oreal
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Until she discovered L'Oreal's ethnic-beauty institute on Chicago's South Side, Regina Hatcher had dry, strawlike hair--the price she paid for chemically straightening it. But one Sunday, the African-American security officer, 35, received a tip from a friend whose daughter had turned to the center, formally called the L'Oreal Institute for Ethnic Hair and Skin Research, for help following a disastrous perm. "They got her hair back more healthy and shiny," said Hatcher, who promptly booked an appointment for herself--hoping that L'Oreal's stylists and researchers, armed with a vast array...
...answer could be worth a pretty penny for L'Oreal. Over the past decade, the world's largest cosmetics concern has transformed itself from a French company focused on white women into a global titan whose skin, hair and cosmetics products are tailored to consumers from Dallas to Delhi. L'Oreal has a strategic gift for taking cosmetics brands, giving them an innovation injection and a marketing makeover, and then rolling them out across the world: antiaging potions for American boomers or lipsticks for young Chinese. L'Oreal is even working on beauty from the inside out: how about...
...Oreal is turning its attention to the rapidly expanding ethnic-beauty market, projected to be worth up to $14.7 billion annually by 2008. Ethnic-beauty care in the U.S. has been dominated by black-centered companies that are close to their customers. Over the past five years, L'Oreal bought two of them, SoftSheen and Carson, and integrated them into a single entity that the company sees as a worldbeater. Researchers at the Chicago institute will help develop products that SoftSheen/Carson can take well beyond the U.S. "You can't pretend to be No. 1 in the world," says Alain...
...global $60 billion beauty industry, being first feels familiar to L'Oreal. Analysts expect that 2003 sales, to be released this week, will hit $18.2 billion, allowing the company to achieve its 19th consecutive year of double-digit earnings growth. According to Morgan Stanley, L'Oreal is the only cosmetics company over the past five years to have maintained or grown its market share in categories like cosmetics and hair care, both globally and in the U.S. Consider Maybelline, the U.S. mass-market cosmetics house that L'Oreal acquired in 1996. The French giant revamped the brand's drab packaging...
Although L'Oreal takes a global approach, the company is keyed to the chronological and cultural differences of its consumers. The result of this market segmentation: a long-term global-beauty jigsaw, coming together piece by piece. "We're going to have to imagine things that appeal to both ends of the age spectrum and to very different ethnic consumers," says Lindsay Owen-Jones, 57, the Brit who has been at L'Oreal's helm for the past 19 years. "There used to be one ideal consumer. Tomorrow there are going to be many different ideal consumers...