L'Oreal's Global Branding Strategy
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In 2005, the $18.89 billion L'Oreal group was the largest and the most successful cosmetics company in the world, with over 17 international brands. L'Oreal was ranked 49th by the Business Week Interbrand survey conducted in August 2004. Its brands were valued at $5902 million ($5600 million in 2003). L'Oreal sold makeup, perfume, and hair and skin care products to both men and women in 150 countries. The group reported its 18th consecutive year of double-digit growth in December 2004. Since 1989, L'Oreal's sales had grown at a compounded annual rate of 12% to $1.7 billion.
As an analyst put it, "L'Oreal is the only real global leader in every segment of the industry."2 Whether it was selling Italian elegance, New York street smarts, or French beauty through its brands, L'Oreal had reached out to a wide range of customers across incomes and cultures. Under Lindsey Owen-Jones (Owen-Jones), L'Oreal's CEO for 17 years, L'Oreal had fine-tuned its global branding strategy.
1] Morais, Richard C. "How do you make consumer brands work overseas?" Forbes, 27th November 2000, Vol. 166, Issue 14, pp.170-176.
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