Word: owens
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...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...
...Owen-Jones accepts that L'Oreal might have the odd off year, but in the long term, he sees no reason why all the markets shouldn't keep on growing, even the most developed ones. Take Sensation Totale, a skin-soothing lotion designed to go under the moisturizer that is Lancome's hottest product in the U.S. Does a premoisturizer moisturizer seem like a fanciful idea? Perhaps not in the American market, where women put an average of seven products on their face each morning. And certainly not in the Korean market, where L'Oreal also has a presence...
...aging is more about losing one's hair than losing one's skin tone--making skin care a tougher sell. And men who moisturize often grab whatever is in the bathroom cabinet--even if it belongs to their wives. "Men are huge cadgers," says L'Oreal CEO Lindsay Owen-Jones. "They don't buy too much stuff for themselves." Owen-Jones loves to sail--a pastime that takes its toll on the complexion. So which moisturizer does he use? Er, two, actually--one from Lancome's Homme line and one from Vichy's Thermal S2 range (both L'Oreal brands...