L’Oreal is a multinational company that is renowned for its cosmetics and personal care products. The company is one of the largest in the beauty industry, and its products are sold worldwide. We will explore the history of L’Oreal, its growth, revenue, ownership, and the various brands under its umbrella.
The History of L’Oreal
L’Oreal was founded in 1909 by Eugène Schueller, a French chemist. The company was initially called “Société Française de Teintures Inoffensives pour Cheveux,” which translates to “French Society of Inoffensive Hair Dyes.” The company’s name was later changed to L’Oreal in 1939. Schueller started L’Oreal in his apartment, and the company’s first product was a hair dye called Aureole. The product was an immediate success, and Schueller continued to innovate and develop new products.
They grew to be a giant in the cosmetics industry due to its innovative products, marketing strategies, and acquisitions. The company is known for its scientific research and development, and it has consistently been at the forefront of product innovation. In the 1950s, L’Oreal launched a new hair dye product called Oréal, which revolutionized the industry. The company continued to expand its product line, and it introduced new skincare and makeup products.
How Much Does L’Oreal Make in a Year?
L’Oreal is now one of the largest cosmetics companies in the world, with a revenue of €29.87 billion in 2020. The company operates in over 150 countries and has more than 90,000 employees worldwide. L’Oreal’s success can be attributed to its global presence, strong brand recognition, and diversified product portfolio.
Who Currently Owns L’Oreal?
L’Oreal is currently owned by the Bettencourt family and Nestlé. The Bettencourt family owns a 33% stake in the company, while Nestlé owns 23%. The remaining shares are publicly traded on the stock market. The Bettencourt family has been involved with L’Oreal since its founding, and they have played a significant role in the company’s growth and success.
The late Liliane Bettencourt was the daughter of L’Oreal’s founder, Eugene Schueller, and inherited the majority stake in the company upon his death. She was one of the richest women in the world and was involved in various philanthropic efforts throughout her life.
However, in later years, Liliane’s relationship with her daughter Francoise Bettencourt Meyers became strained, leading to a highly publicized legal battle over Liliane’s estate. The legal battle ultimately resulted in Liliane’s grandson, Jean-Victor Meyers, being named as the chairman of the board of L’Oreal, as well as inheriting Liliane’s stake in the company.
Family is everything pic.twitter.com/IDPl5VQdx0— Jean Victor Meyers (@JeanVMeyers) May 24, 2016
Today, the Bettencourt family still holds a significant stake in L’Oreal, with Francoise Bettencourt Meyers and her family being the largest shareholders. They continue to be involved in the company’s management and strategic decisions. In addition to their involvement in L’Oreal, the Bettencourt family is also known for their philanthropic efforts through the Bettencourt Schueller Foundation, which supports scientific and cultural initiatives in France and around the world.
Which brands does L’Oreal own?
L’Oreal owns a vast array of brands, including some of the most recognizable names in the beauty industry. Some of the most prominent brands under L’Oreal’s umbrella include Lancôme, Maybelline, Kiehl’s, Garnier, Essie, and Redken. The company’s brand portfolio is diverse and includes products for every skin type, hair type, and age group.
Their acquisition strategy has been instrumental in its growth and success. The company has acquired many brands over the years, including The Body Shop, Urban Decay, and It Cosmetics. L’Oreal has also formed strategic partnerships with other companies, such as Armani Beauty and Yves Saint Laurent Beauty.
L’Oreal is a global beauty industry leader that has grown significantly since its founding in 1909. The company’s success can be attributed to its innovative products, marketing strategies, and acquisitions. L’Oreal is currently owned by the Bettencourt family and Nestlé, and it owns a diverse range of brands, including some of the most recognized names in the industry. L’Oreal’s revenue of €29.87 billion in 2020 highlights the company’s massive global presence and its strong brand recognition.