Word: owen
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Dates: during 2000-2009
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...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 ... and we're going to have to be good at guessing what they want...
...firmness of your skin will improve. By the end of the year, consumers may be able to buy Inneov pills to thicken hair and tackle cellulite. On the horizon: a pill to enhance sun protection. "We started with a product that demonstrably shows you have firmer skin," Owen-Jones says. "This is not snake...
...that its manufacturing is less efficient than that of its competitors. Says Citigroup's Smith: "L'Oreal has the cost structure of a prestige cosmetics house, yet only 25% of its products are in the prestige category. The rest is mass market." Such criticisms draw a scathing response from Owen-Jones. "Analysts work like politicians," he sniffs. "They spend their time justifying that they've always had a point of view." He refuses to restructure. There are "so many other places you can invest if what you want is bloodletting," he says...
...Owen-Jones has the good fortune to run a company that is not entirely beholden to analysts. Because of a complex arrangement, just over half of L'Oreal's stock is controlled through a holding company that includes Nestle and Liliane Bettencourt, Eugene Schueller's only child and--thanks to her L'Oreal stake--one of the wealthiest people in Europe...
More than eight-tenths of a second out in front after the first quarter of the race, Cromwell narrowly increased his lead before the halfway point before placing his endurance on display in the final 100 yards, adding 1.89 seconds to his lead over UNC's Reid Owen for a 2.88-second victory...