Founded in 1909, the L'Oréal Group has devoted itself solely to one business: beauty. It is a business rich in meaning, as it enables all individuals to express their personalities, gain self-confidence and open up others. L’Oréal has set itself the mission of offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy and safety. Providing access to products that enhance well-being, L’Oréal has made the universalization of beauty its project for the years to come.
The L’Oréal Group has become the largest cosmetics and beauty company in the world. In 2016, L'Oréal was the leading personal care brand in the world with a brand value that amounted to 23.52 billion U.S. dollars. Once again, 2016 was a good year for L'Oréal on many fronts. The Group achieved strong sales growth and once again demonstrated its ability to outperform the beauty market, and to gain market share, even in the more difficult markets of Western Europe and the United States. In 2016, L'Oréal also continued to reflect the integration of the Group's internationalization, as the "new markets" segment remained to be the company's number one geographic zone in terms of sales.
The company's cosmetic branch is primarily focused on skin care, hair care, make-up, hair colorants and perfumes. In 2016, skincare generated almost 30 percent of L'Oréal's global cosmetic sales; amounting to over seven billion euros.
The company did have a void in terms of addressing young consumers looking for affordable yet exciting color cosmetics, which Urban Decay is expected to fulfill. However, it needs to address its presence in the affordable natural/organic segment going forward.