I-SHOU UNIVERSITY

INTERNATIONAL STRATEGIC MANAGEMENT

L’OREAL, L’OREAL PARIS

IN USA, CHINA, VIETNAM
AND HOME COUNTRY - FRANCE

Instructor: Dr. Sladjana Cabrilo

Student: Yuki – 10882166M
Lucile – 10882140E
Dzung – 10882153M
Chang – 10882181M
James – 10882182M

June 2020

1
 TABLE OF CONTENT
I. INTRODUCTION 3
A. General information about beauty and personal care industry
B. L’Oréal Group 3
1. Mission, Vision, Values 3
2. L’Oréal structure 4
3. Key facts and figures 5
C. Consumer products division 5
II. INTERNAL AND EXTERNAL ANALYSIS 7
A. Porter’s Five Forces 7
B. SWOT 9
C. PESTLE Analysis 13
1. France 13
2. Vietnam 13
3. China 14
4. USA 14
III. STRATEGIES 15
A. Global level 15
B. Corporate level strategy 15
C. Business level strategy 17
1. Division level 17
2. Brand level 18
D. Functional level strategy 18
1. Home country strategy 18
a. Research and development 18
b. Operational marketing 19
c. Human resources: an original and ambitious policy 20
2. USA strategy 21
a. Entry modes 21
b. Research and development 21
c. Corporation social responsibility 21
d. Operational marketing 22
e. Human resources 22
3. Asia strategy: China 23
a. Entry modes 23
b. Five key strategies to explain L’Oréal China success 23
4. Asia strategy: Vietnam 24
a. Entry modes 24
b. Operational marketing 25
c. Distribution channel 26
CONCLUSION 27
RECOMMENDATION 28
BIBLIOGRAPHY 29

2
 I. INTRODUCTION
A. General information about beauty and personal-care industry
The beauty and personal-care industry is a massive field that still remains as one of the most
attractive CPG industries globally. Global beauty and personal care products market is
segmented by personal care products (hair care products, facial care products, shower gels, oral
care, men's grooming products, and deodorants and antiperspirants); by cosmetics/makeup
products (facial cosmetics, eye cosmetic products, lip and nail make-up products, hair styling
and coloring products); by distribution channel (specialist retail stores,
supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels,
others); by category (mass products and premium products), and by geography.
According to the Personal Care Products Council, a trade
association for the cosmetics and personal-care products
industry that has more than 6a00 member companies. As of
2016, the United States is the largest consumer of personal
care products with China and the United Kingdom following
in second and third place. In the U.S. the personal care
products industry accounts for almost $237 billion toward
the national gross domestic product (GDP) and employs or
supports 3.6 million workers, generating more than $140
billion in wages.
According to a report of Mordor intelligence, during 2019-
2024, global beauty and personal care products market is
projected to grow at a CAGR of 7.2%.
B. L'ORÉAL
L’Oréal is a multinational company in manufacturing and selling of beauty and hair products
which was founded in 1909 by French chemist Eugène Scheuller. Over the past few decades,
L’Oréal SA has performed enormously well considering its diverse consumer groups all across
the globe. Recently, L’Oréal leads to global beauty and personal care.
1. Mission, Vision, Values
For more than a century working in the world, L’Oréal set their mission with four main points
related to beauty:
Beauty is a language.
L’Oréal 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
to others.
Beauty is universal.
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. It pursues this goal by
meeting the infinite diversity of beauty needs and desires all over the world.
Beauty is a science.
Since its creation by a researcher, the group has been pushing back the frontiers of
knowledge. Its unique Research arm enables it to continually explore new territories and
invent the products of the future while drawing inspiration from beauty rituals the world
over.

3
 Beauty is a commitment.
Providing access to products that enhance well-being, mobilizing its innovative strength to
preserve the beauty of the planet, and supporting local communities. These are exacting
challenges, which are a source of inspiration and creativity for L’Oréal.
Beauty for all.
By drawing on the diversity of its teams, and the richness and the complementarity of its
brand portfolio, L’Oréal has made the universalization of beauty its project for the years to
come.
The current vision is that L'Oréal has chosen to integrate the principles of sustainable
development into its business model to build sustainable growth both responsible and united.
L’Oréal maintained six founding values during all the time, including: Passion, Innovation,
Entrepreneurial spirit, Open-mindedness, quest for Excellence, Responsibility with 4 main
ethical principles: Integrity, Respect, Courage and Transparency.
With the current values, their goals for the coming years is to win over another one billion
consumers around the world by creating cosmetic products that meet the infinite diversity of
their beauty needs and desires. This means they will focus on diversity to innovate.
2. L'Oréal Structure: (ANNEX 1)
With their headquarters in France, their products are available in over 150 countries in all five
continents including well-known brands such as Lancôme, NYX, Maybelline, Garnier, Redken,
and Matrix. With an increasing amount of competition in the market, L'Oréal SA has retained its
position in the long run while acquiring new brands along the way. The company's market
ranking continuously stands at number one globally even while exclusively focusing on beauty
and personal care products. Today with nearly 500 brands and thousands of products under their
belt, their diverse portfolio makes up of nearly half of the consumer and professional cosmetics
market.
Their channels of distribution can be found in drugstores, hair salons and various beauty outlets
which aids in 80% of their sales. They continue to acquire professional and retail beauty brands
to market under the L'Oréal umbrella. Until now, L’Oréal SA own a number of best-selling
brands including Maybelline New York, IT Cosmetics, Garnier, Lancôme, Helena Rubinstein,
NYX Cosmetics, BioMedic, Vichy, Biotherm, Shu Uemura, Kiehl’s, Soft Sheen-Carson,
Redken, Matrix, Kerastase, Urban Decay, Giorgio Armani, Inneov, Sanoflore, CCB Paris,
Dermablend, Skinceuticals, Ralph Lauren, La-Roche-Posay, and Yves Saint Laurent.
L’Oréal is very large and complex structure. Hence, to manage their company effectively and
promote innovation, L’Oréal follows the organic organizational structure with wide span of
control, only 4 levels. This kind of structure is more free-flowing and adaptive that will help the
organization compete competitively in the
marketplace. As the shown chart, the chain
of command in L´Oréal is the continuous
line of authority that extends from upper
organizational levels (committee and board
of directors) to the lowest levels (interns) and
clarifies who reports to whom. It is obvious
that beauty industry is fast-changing
industry, so in order to not waste time as well
as money into management and decision
making, L’Oréal would choose flat structure
with high
4
specialization, rigid departmentalization, narrow spans of control, high formalization.
Besides, L´Oréal has a very clear range of departments. The most outstanding is Product
departmentalization by grouping jobs by product line. L’Oréal has a portfolio of international
brands that cover all the lines of cosmetics: hair care, coloring, skin care, makeup, and perfume.
These brands are managed within the group by divisions that each have expertise in their own
distribution channel, which would be an example of cross-functional teams. This organization is
one of L’Oréal's major strengths.

Source: L’Oréal Annual Report, 2019.

L’Oréal Luxe
L’Oréal Luxe opens a unique world of beauty. Its international brands incarnate all the phases of
elegance and purification in three major specializations: skin care, makeup, and fragrances. Their
products are distributed through a selective distribution channel.
L’Oréal Consumer Products
The Consumer Products Division offers the best in accessible cosmetics innovation to a wide
customer around the world, in every continent. Its brands are available in mass-market channels
(hypermarkets, supermarkets, drugstores, and traditional stores).
L’Oréal Professional Products
The objective is to be the leader in each professional beauty category: hair care, nail beauty, and
skincare and distributed in worldwide beauty salons. They believe that more and more people
can take advantage of the highest standards of quality and expertise from beauty salon
professionals all over the world.
L’Oréal Active Cosmetics Products
Thanks to its highly complementary brands, developed and endorsed by health professionals -
dermatologists, pediatricians, cosmetic doctors, their brands are distributed from pharmacies,
drugstores, to medi-spas.
The second one is geographical departmentalization, which is very well organized, from the
top managers to factories. As we saw in the introduction the board's committee is formed by
managers of different geographical zones in which L´Oréal is located. In addition, in the field of
innovation and research, which is strategically spread in different countries, with very
specialized employees (another example of cross-functional teams divided into the disciplines of
biology, chemistry, physics, optics, microbiology, statistical analysis, bioinformatics, ethnology,
sociology, dermatology: functional departmentalization), we can also find a wide division.

5
The last one is customer departmentalization. One of the ambitions of L´Oréal is to make
customized products for all the diverse customers that we find worldwide depending on the
country they live, the lifestyle ...They think the diversity of the teams is one of the success
factors. Fostering the values of all forms of multiculturalism and respect for differences, the
group is enriched by employees from various horizons that enable it to gain a better
understanding of the diversity of its consumers and markets. The huge variety of brands we saw
and its products is a testimony to its commitment to enhancing every type of beauty.
3. Key facts and figures:
Until now, L’Oréal operates in over 150 countries by 87,974 employees with 7 distribution
channels. It has about 36,000 patents granted in total and nearly 500 patents newly registered
every year. It has 21 cosmetics research centers, 13 evaluation centers and 4100 employees
around the world. In 2019, L’Oréal became the 1st Beauty Player Worldwide with EPS~€7.74,
market capitalization ~ €15O billion. According to Forbes summary, L’Oréal ranked in the 31st
of World's Most Valuable Brands 2019 and the 38th of Top Regarded Companies 2019.
C. Consumer Products Division and L’Oréal Paris Brand
Consumer Products Division is known as an important division of L’Oréal. They offered the best
in accessible cosmetics innovation to a wide customer around the world and distributed in mass
retail channels. Compared to the previous year, the profitability of the Consumer Products
Division was stable at 20.2%. It can be seen that the Consumer Products division still gained the
largest profit with around €m2400 from 2018 to 2019.

L’Oréal’s portfolio of brands is organized by Division, which each develop a specific vision of
beauty by consumption universe and distribution channel. L'Oréal Paris is a powerful brand that
belonged to Consumer Products Division. As the top beauty brand sold in retail outlets,
L’Oréal Paris makes the most innovative products accessible to everyone. With 50 products sold
every second worldwide, L'Oréal Paris offers from all continents male and female beauty
products of all types (makeup, skincare, haircare, styling, hair color, and men), from the
excellence of its Research Laboratories. The worldwide success of legendary franchises such as
Color Riche lipstick, Revitalift skincare, Elnett hairspray, Elsève hair care, Preference hair color,
or Men Expert Hydra Energetic skincare for men, reflect the brand’s unique expertise from the
greatest beauty experts. Including Christophe Robin for hair color, Stéphane Lancien for hair
care and styling, and Val Garland for make-up.

6
 Brand identity prism
Comparatively, the whole market increases by 4% while the consumer division increases by
2.5%. Therefore, in the battle for market share and growth rate, there are some challenges for
L’Oréal to improve its results for the next coming years.

II. INTERNAL AND EXTERNAL ANALYSIS:

A. Porter’s Five Forces

7
 Risk of entry by potential competitors (Low) Threat of substitution (Low)
The risk of entry by potential competitors is low. Due to the nature of this industry, consumers
Consumers are fairly quality sensitive, and the decide to use a brand based on familiarity
beauty personal care industry is not very highly more than preference. They want specific
competitive. The whole industry because it is products that can fit their skin. The switching
controlled by a small number of large companies cost does not seem to be high. Young
because it is a consolidated industry with high brand consumers are very easy to change their
recognition and multiple barriers to entry such as interests, but it is difficult to change the habit.
economies of scale, absolute cost advantage In contrast, innovation can make their product
(superior production processes), brand loyalty, and more superior.
product quality. Moreover, this market requires high On the other hand, more and more consumers
initial capital investments. have a tendency to buy natural products
However, there are some opportunities for people to (coconut oil, aloe Vera, henna for coloration).
break into the market through the niche market. As a leader in the beauty industry, L’Oréal
seems like does not disturb by any potential
substitute that comes into this market.
Bargaining power of buyers (Medium) Bargaining power of suppliers (Low)
In the current economic environment, consumers can L’Oréal is a giant in the industry and has a
buy products everywhere. The appearances of huge capacity that its production is exceeding
numerous powerful competitors cause higher 45 billion units every year. Therefore, the
bargaining power of buyers. Because of the usability suppliers will have little opportunity to put
of different companies with different products is pressure on L’Oréal because of power
high, potential customers have the choice to go for implications.
other companies. L’Oréal creates and develops solid and
Besides wholesaler’s distribution, L’Oréal owns sustainable relationships with its suppliers
many other distribution channels such as: hair salons, around the world, based on trust, mutual
mass-market retailers, department stores, drugstores, interest, and high standards. With an
e-commerce, travel retailing… And as President' enormous account of suppliers always
presentation this year, they have 8 winning assets. available for all factories around the world,
One of them is E-commerce leadership with 15.6% L'Oréal easy to switch from one supplier to
group sales, especially in the Asian market. Hence, another if anyone of their suppliers does not
they don’t have many impacts from wholesalers who satisfy its conditions. Therefore, the suppliers
normally will have big power of negotiation. have few or simply do not need to bargain
with L’Oréal.
Rivalry among established companies (High)
The beauty and personal care industry is highly competitive due to the presence of numerous domestic
and international players involved in the business.
As reported, there are 6 main worldwide players in sales in this industry: L’Oréal, Unilever, P&G,
Estée Lauder, Shiseido, and Coty

In addition, various companies’ competitiveness pushes L’Oréal into a more elevated amount of
rivalry in the current business of skincare products. They also attempt to increase their market share
by keeping various strategies. Therefore, L’Oréal needs nonstop innovation for every production line
in order to guarantee survival in the industry.

8
Distinctive competences
L’Oréal has several core competencies that create value, giving it a competitive advantage to its
competitors. In terms of resources, tangible resources are L’Oréal financial, physical, and
organizational resources. The first one is mostly related to capital, equity, debt, assets, and
earnings. L’Oréal physical and organizational resources include a vast number of locations
where the company operates, since its headquarters, industries, hubs, and R&D centers are
strategically distributed to have an optimized coverage, establishing exceptionally successful
distribution channel. The intangible resources include critical factors for the company such as its
branding strategies and acquisitions, reputation, history, customer experiences, and brand
loyalty, patents, and copyrights. Throughout its history, L’Oréal has worked hard in order to
build a trustful relationship with its customers and construct its reputation as one of the most
respected and reliable beauty brands. Moreover, L’Oréal’s strength stems from combinations of
skilled and qualified employees. This is considered as the key point to business success.
In terms of capacities, there are 8 main core competencies which are: innovation, marketing
campaign, acquisition management, negotiating capability, the efficiency of the supply chain,
responsiveness to market trend, partnerships, the responsibility to society (CSR). L’Oréal
achieves product innovation by creating new and innovative products at its advanced
dermatological research facilities. In 2019, the company invested €985 million of its sales in
research and development and also to introduce one or two new products each year. Another core
competency is achieved within their marketing campaign by using high profile celebrities in ad
campaigns. L’Oréal is able to greatly enhance its global image through marketing. Practical
evidence is that L’Oréal products are always in the favorite position on shelves in supermarkets
or attractive locations in department stores in comparison with other rivals’ products. L’Oréal
has a complex supply chain, but very efficient by using an integrated information system.
Corporate social responsibility is the most impressive capability when saying about L’Oréal.
They are reducing carbon dioxide emissions, zero deforestation, tracing back the source of
ingredients, etc. Besides, L’Oréal also cares about women's position in our society. It is
surprising that many mid-level managers are women and the number of women here accounts for
a large number. It promotes women's role in the company.
B. SWOT

STRENGTH WEAKNESS
GLOBAL Market Position Lawsuits
L’Oréal’s strong market position has built Legal proceeding, regardless of the
its brand equity and helped the company to outcome, could drain the financial
establish itself as a leading provider in the resources and divert the time and
beauty market. Its leading market position effort of any management. In June
also helps the company to attract a larger 2018, a UK High Court has ruled in
customer. favor of Olaplex, a US-based
The company has developed a strong brand cosmetics manufacturer, in a patent
portfolio of 36 international brands. infringement lawsuit filed against
The Consumer Products division offers L’Oréal. In its lawsuit, Olaplex
products in all mass-market retailing alleged that L’Oréal Smartbond Step
channels. Strong market presence and 1 product formulation infringed its
brand portfolio lend better visibility and patented hair care product. However,
presence in all distribution channels which L'Oréal said to file an appeal with the
enables. UK High Court. Such lawsuits could
affect the company’s brand value and
result in huge penalties.

9
R&D Low profit margin
Focused R&D activities nurture new The company has got a numerous
growth platforms and enable the company rivals, and to compete in the
to deliver sustainable growth for the future. challenging market, the product
This provides it with ‘first mover’ pricing is considerably low compare
advantage by launching products ahead of to the other companies, and many
the competition. There are some figures for times the profit does not meet the
R&D activity: expectation of their own margin. To
 L’Oréal employed 3,993 researchers of a great extent advertising and
various disciplines for research and marketing of a high-end nature is
product development highly a reason to a low return.
 Expertise in the fields of hair biology, Lack of control.
photobiology, scientific computing, hair The company has grown enormously
styling, chemistry, biophysics, green big, and there are various division
chemistry, skin stem cells and robotics. and sub-division of the organisation,
 In 2019, the company registered 497 this has made the organisational
patents and spent €985 million on sector a bit decentralised one, owing
R&D. to its gigantic size. The co-ordination
 Research and Innovation stated around and the control of L’Oreal is
six regional platforms (Europe, United somewhat lacking due to its gigantic
States, Japan, China, Brazil, India). size. This is again observed as a
 21 cosmetics research centers, 13 negative point and as a setback.
evaluation centers, and 4.100 employees
around the world. Conscious Consumer Trends
Distribution channel With the booming of the internet era,
Not stopping at this point, they also focus conscious consumers are on the rise
on improving distribution channels, which and many consumers are starting to
may include e-commerce, and travel retail. prefer buying products that are vegan
Financial Performance and/or cruelty-free. With L’Oréal’s
Strong financial performance helps the market in China (where the
company gain investors’ confidence and requirement is animal testing prior to
improves its ability to allocate adequate entering a market), not all of
funds for future growth initiatives. L’Oréal’s products will be entirely
cruelty-free. In addition, not all of
Liquidity Position L’Oréal’s acquisitions and mergers
The company’s current ratio was 1.23 at operate and produce completely
the end of FY 2018. Compared to FY vegan or cruelty-free products. This
2018, at the end of FY 2019, the current is a weakness because consumers
ratio was will look for alternatives for L’Oréal
1.28. The company’s current ratio was products since it does not meet their
higher than that of its major competitors, product preferences.
Unilever (0.78), P&G (0.7x) L’Oréal Paris also has many products
Human Resources More and more niche brand based on
HR is a core value of each company to gain traceability (Customer is hard to
the target trace origin)
Total employees: 87,974
 Top 5 of gender equality in the workplace Conflicting Mergers
 94% of the Group’s permanent employees Acquiring other companies is the
have access to healthcare coverage way that L’Oréal chooses to expand
reflecting the best practices in their their product lines as well as the
country of residence market. But not all the acquisitions
 91% of the Group’s permanent employees are a good
have access to financial protection in the
10
11
 event of a life-changing accident, match with L’Oréal’s organizational
including death or permanent disability. values. For example the L’Oréal and
 90,635 people from underprivileged Body Shop acquisition.
communities gained access to
employment.
Strategy
To implement a sustainable commitment,
L’Oréal chooses to focus on CSR strategy
with the aim of reducing its environmental
impact and increasing its social
commitments, while sharing its growth
with the surrounding communities by:
 Innovating sustainably
 Producing sustainably
 Living sustainably
 Developing sustainably

OPPORTUNITIES THREAT

Asia  The demand for cosmetics in Vietnam is  L’Oréal’s cosmetics market in

Vietnam very large with about 17% growth per Vietnam is almost dominated by
year portable products (imported goods
 L’Oréal has traditionally been selling carried in hand luggage) and fake
goods through traditional channels. But in goods with over 60%
the last 3 years, e-commerce in Vietnam  In the current process of
has been developing very fast. globalization, L’Oréal has to face
 Business France assists French businesses many companies from china, japan,
like L’Oréal in finding potential and Korea.
customers and partners, organize market
research trips, informs businesses about
market access conditions and advises to
promote activities in Vietnam.
Asia  China is the world’s most populated  The currency exchange rates
China country with average economic growth of fluctuate complicatedly
around 9% a year in the last three  “Guanxi” is a cultural value that
decades, and that makes it to become the defines the complex concept of
biggest cosmetics market in the world relationship in China. cultural soft
from 2018. power. Building relationships with
 Chinese consumers are eager to buy stakeholders is one of the most
foreign goods because they believe that important activities to minimize
foreign products are of higher quality and risks when doing business in China.
are less likely to be counterfeit.  The booming of E-commerce in
 “Mianzi” means “The face” is one of the China has completely changed the
most important cultural values in China. shopping behavior in China.
The face represents honor, influence as  Environmental protection has
well as human values become a top concern for people as
well as the Chinese government.

12
Europe  Increase of men and senior product  Growth is declining in developing
demand in Europe market such as France, Germany,
 Acquisition of niche brand with high Italy, Spain
specificity and diversification (ex: (-0.3% in 2019 on Europe market)
acquisition of niche brand: African beauty  Very high competition between
brands, Maison Margiela, Atelier distributors over price, which
Cologne, Roger&Gallet) means that dragging down prices in
 Taking the turning point of new trends for supermarkets.
example naturality and sustainability  Very high exposition to rate
before its main competitors (P&G, Estée exchange between € and $
Lauder,...)  New use of social media, niche
brands have broken down the
barriers to entry into the sector. (No
need to have a big investment in
advertising)

USA  Social: the US has great diversity with a  Competition is becoming more
wider range of racial, ethnic, and cultural intense. There are many big players
types. Moreover, it is the third most in the US market such as P&G,
populous country in the world which Estee Lauder, etc. who
makes it a big market with different continuously invest in R&D to
variety of demands and customers. create constant innovation.
 According to statistics in Jan 2020, with a  Currently, coronavirus pandemic
population of nearly 330 million people strongly affected the global
and mobile phone connections account for economy. The United States is the
107% population, internet user proportion largest economy with the number of
is up to 87%, this is a really huge market cases infected at the top of the
for mobile digital marketing strategy. world, leading to increase
 There are opportunities for L’Oréal to unemployment. Then, spending on
further tap into natural/organic. It could beauty and personal care products
even consider an acquisition in this area will be significantly affected.
because natural and “cruelty-free”
products are the most popular trend in the
US currently.

13
C. PESTLE ANALYSIS
1. France

2. Vietnam

14
3. China

4. USA

15
 III. STRATEGIES
A. GLOBAL LEVEL
The definition of L’Oréal’s strategy is: “Universalization means globalization that respects
differences. Differences are at desires,
needs, and traditions”. Looking at the
product portfolio of L’Oréal, it can be seen
that they targeted many segments with
different customer groups, also spread in
many countries. Hence, they would be borne
both pressures from cost reduction and local
responsiveness. L'Oréal would be plotted
between localization and transnational
strategies. Due to the high intensity of
rivalry, they faced pressure to be locally
responsive (from medium to high) but cost
pressures are increasing so a transnational
strategy would be appropriate. Here is
L'Oréal responsiveness- cost reduction framework:

The regard of localization, L'Oréal divided the product portfolio based on some characteristics as
follows:
- Demographic: Age, marital status, gender
- Geographic: Global, hemispheric, national, state, city, postal code, climate, rural, urban.
- Socioeconomic: Income, class, vocation, education, religion, ethnicity.
- Lifestyle/personality Attitudes/opinions, interests, tastes, and preferences.
On the other hand, as mentioned above, L’Oréal still competes with many key players such as
P&G, Unilever… as well as they also serve low to mid-level customers in some segments,
hence, they need to lower prices to gain more market share.

B. CORPORATE STRATEGY:
L’Oréal corporate-level strategies involve horizontal integration, vertical integration, and
strategic alliances, combining the advantages of each strategy to build a stronger image in
different geographic markets.
A horizontal integrated corporate-level strategy can be seen through L’Oréal’s strategy in
acquiring many companies that are industry competitors building up its competitive advantage in
the scope it operates.

Examples of this are the acquisitions of Magic Holdings in China or Nicely Cosmetics in Brazil
or on January 2016 when L’Oréal acquired key assets from Rayon Corporation, a wholesale
distributor of salon professional products, strengthening its professional products segment and
distribution coverage in the USA.
L’Oréal used to implement forward vertical integration which is noticed on the strategies used on
The Body Shop and throughout the organization's integrated research, development, and
production facilities. Although The Body Shop outsources are raw materials for use in product
manufacturing, they also participate in vertical integration by selling their products in their retail
stores. However, this acquisition was not very successful because Body Shop’s core values were

16
lost due to being absorbed by a larger corporate identity. The Body Shop’s consumer loyalty and
appeal decreased after the acquisition and gave L’Oréal an overall loss in profit. Finally, L’Oréal
decided to sell off Natural Beauty Brand The Body Shop in 2017.
 Horizontal Integration
In particular, to gain external growth, L’Oréal chooses acquisitions and alliances as a long-term
strategy. Purchases of more companies allow L’Oréal approach closer to the critical size needed
for expanding economies of scale both in R&D activities and in marketing and distribution
channels. The acquisitions also promote L’Oréal to enter into new markets and develop its
market segments. The actual portfolio of many prestigious brands stems from a series of
acquisitions or outstanding agreements that began many years ago, which is described in the
table below.

Acquisition and Alliances Timeline from 1964 to 2019

Sources: Annual Report 2019 of

L’Oréal Group

17
All acquisitions and agreements of L’Oréal had been decided strategically. The target firms
usually have ideal characteristics:
 Keep stability in the shareholder structure is the main purpose of L’Oréal when they
decided to take over the Gesparal holding company.
 Diversifying products and entering into new different geographical markets. On the other
hand, they also set a strong foothold in the new market.
For example: L’Oréal acquires US brands Soft Sheen and Carson, which made hair care
products for African American consumers. They exported the brand to South Africa and
Senegal. The result is that it was deriving 30% of its revenues from these new markets.
 Using agreements to gain full support from other companies. For example: In 2014,
L’Oréal and Nestle sign a strategic agreement. In which, L'Oréal knows that it has the full
support of its two biggest shareholders, Nestlé and the Bettencourt family, whilst Nestlé
has benefited from very good returns on its investment over the long term. Moreover,
Nestlé and L'Oréal have benefited from their cooperation through two successful joint
ventures – Galderma and Laboratories Innéov as well as joint efforts in research.
 Using strong capacities of other companies. For instance, in 2012, L'Oréal signed an
agreement to acquire Urban Decay, a specialty makeup brand in the USA. Thanks to this
acquisition, the Group strengthened its position in two very dynamic distribution channels
in the USA, i.e. assisted self-service and e-commerce.
C. BUSINESS LEVEL STRATEGIES
1. Division level strategy
In the group L’Oréal we can define two different business levels: the first one is the division
level which categorized brands by their targeted markets (mass market, luxury, active cosmetics,
professional product). We chose to focus our work on the consumer product division which
gathers all brands mass-distributed like L’Oréal Paris, Maybelline, Garnier, LaSCAD, ...
Actually,
The Consumer Products Division is very
interesting because it accounts for 43% of
turnover but achieved a growth rate of “only”
+3.0% like-for-like (based on a comparable
structure and identical exchange rates) at the
end of September (see below). The Division is
winning market share in Europe and growing
rapidly in Asia, especially in China, India,
Korea, and Indonesia, especially thanks to the
acquisition in 2018 of 3C by Stylenanda the
Korean lifestyle make-up and fashion
company
founded by Kim So-Hee in Seoul in 2004. L’Oréal Finance at 30 September 2019

Competitive advantage:

18
The strategy for mass-market products is really different than the other divisions as the price is
quite low, products are for everyday life they meet needs and not just desires as a luxury perfume
could do it.
For L’Oréal, the competitive advantage of the mass-market division is cost leadership. Because
of the mass-production, they can achieve economies of scale which enable a company to
undercut rivals on price, gain market share, and maintain or increase profitability.
Moreover, as in the L’Oréal Group, the Research and Development and manufacture are not
divided between division but between products (makeup, shampoo, shower gel, cream,...), the
mass-market division can enjoy formula, innovations and packaging design from luxury or
cosmetic active which makes their products very qualitative compared to their competitors
(P&G, Estée Lauder, Unilever).
2. Brand level strategy

The second business-level strategy is the brand level and we chose to focus on L’Oréal Paris, the
iconic and the more profitable brand of the group L’Oréal. As the top beauty Brand sold in retail
outlets in the world, L’Oréal Paris creates the most innovative products affordable and accessible
to everyone and everywhere. Its ambassadors embody a certain beauty ideal summed up in the
legendary signature: “Because you’re worth it.”
In order to clearly understand the brand L’Oréal Paris, we need to go back in history. L’Oréal
Paris is one of the original brands of L’Oréal Group, in 1909, Eugene Schueller created the first
safe hair color, fist designed for hairdressers. In 1955, L'Oréal launched Colorelle, the first
coloring shampoo created for all consumers and not only hairdressers, but it also marked the
launch of L’Oréal Paris, the brand designed for mass-market consumers. In the following year,
L’Oréal launched two very famous franchises: Elnett, the most famous hairspray, internationally
known, and Elsève the hair shampoo range. With Elsève, the shampoo no longer served only to
clean the hair but became beauty care for the hair. It is only in 1975, that the brand L’Oréal Paris
is officially registered in France as "all perfumery and beauty products, care and hair products”.

D. FUNCTIONAL STRATEGY
1. Home country strategy (France)

As L’Oréal Paris is a French brand, we can distinguish two levels in France:

 The DMI (Development marketing international) which is the global headquarter where
the products are developed in link with the Research and development, the manufacturing,
the labs according to countries’ feedbacks and desire.
 The France operational offices where the strategy is reworked and adapted to the French
market mainly in the marketing part in terms of distribution, prices, animation,
communication, etc.
a. Research and development
In L’Oréal Paris, the R&D is concentrated in Paris, products are designed and formulated in
France in link with the Global Headquarters. There are some Research Centre in other countries,
products designed especially for one country has to been validated by the Global Office.
Recently, a department specializing in performance evaluation methods has been created at
L'Oréal in Paris. It is at the heart of evaluating product performance on all skin types from the
early stages of each new product launch. The researchers work tirelessly to develop better
performing skincare products, integrating formulation technologies and active ingredients with
proven efficacy through
19
in vitro and in vivo tests, instrumental biophysical methods, and clinical tests conducted by
independent institutes for 100% objective results.
For Sonia EYRAUD, the head of the L'Oréal Paris Laboratory, as each region and countries has
its own specificities and culture, for example in Asia, skin aging is mainly expressed by
hyperpigmentation, while in Europe it is expressed by the first wrinkles. That is why, L’Oréal
Paris creates research centers in different regions of the world (Europe, USA, South America,
India, China, and Africa).
As L’Oréal is known to be the most innovative beauty brands, R&D has a prominent place, in
the coming years, the challenge will be the personalization of skincare with digital technology
the new constraints of daily life (pollution, etc)
b. Operational marketing:
 Product & Price:

L’Oréal Paris offers a lot of different products in a different segment (skincare, haircare,
makeup, and hair color). The promise of the brand is to make beauty affordable for everyone.
That is why prices are quite low compared to makeup in luxury or to skincare in active cosmetics
or even to hair color that people could make in the hair salon.
Makeup Haircare Skincare Haircolor

Source: https://www.loreal-paris.fr

 Promotion:
Transparency for beauty with confidence: “Without makeup and without mask: our products
tell you everything”, in a world where more and more transparency on the product is asked,
L’Oréal talked on its website about its non-animal tested products since more than 30 years and
especially about components, efficiency and the method they use to measure it and safety.
Protect our planet: For L'Oréal Paris, sustainable development is concrete and daily
commitment. The path to protecting our planet goes through how they innovate, how they
product, and finally how we consummate. The brand participates in the “Trions en Beauté”
(Sorting with style) program to promote the sorting and recycling of hygiene and beauty
products. Concretely, where are they today? The average biodegradability rate of shampoos sold
by the L'Oréal Group worldwide in 2017 is 91%, and that of shower gels has been increased to
89% (compared to 87% in 2016). This is also about production, In France, in 2018, L'Oréal has
reduced the transport- related CO2 emissions of its products by 17% compared to 2011.
Share the growth and promote women: In 2018, the L'Oréal group's actions in France will
have enabled more than 2,000 people in difficulty to access employment. Because you are worth
it, L’Oréal is also fighting for women’s rights and empowerment. Since 2012 in France, L'Oréal
Paris, through the Elle Active Forum, has been supporting women's careers and boosting
women's working lives.

20
The brand's face in France - muses: L’Oréal Paris is very famous thanks to its muses in other
words its different brand’s face that inspire men and women. These muses come from
everywhere in the world, they are icons in their countries, and they have a strong impact on
people, that is why L’Oréal Paris use their voices to convey
messages. In France we can find Celine Dion,
Eva Longoria, Isabelle Adjani for whom
"Freedom in beauty is what comes to mind when
I think of L'Oréal Paris: the freedom to dare to
express oneself aesthetically, the freedom to
embrace one's vision of beauty, without rules or
dictates”. But also, Leila bekhti and Louise
Bourgoin, famous French actresses, etc.

 Distribution:

In France, L’Oréal Paris is sold only in the mass market that is to say in French hypermarkets,
supermarkets, like Carrefour, Monoprix, Leclerc, etc. We cannot find L’Oréal Paris products in a
selective place like a pharmacy or beauty store (Sephora, etc). In 2016, the brand L’Oréal Paris
opened its first “boutique” in the heart of Paris. The aim was to make it a reference point for
masterclasses and monthly makeup meet-ups organized by the brand in order to exchange with
its consumers and build brand loyalty, that they are struggling to have and that represents a
challenge for the brand. A shop that wants to be digital and connected where customers will also
be able to test the augmented reality application Make Up Genius. This looks like a winning
strategy because they opened three other boutiques in Paris and one in Lyon.
Starting in 2013, L’Oréal Paris developed a big strategy on e-commerce. The L'Oréal Paris e-
shop offers 780 references, make-up, skincare, hair care, for men etc... and exclusive services for
the most loyal customers: samples, gifts... Also, an exclusive e-commerce range: Beauty Secrets
has been created.
c. Human resources: an original and ambitious policy

In a highly competitive international environment, attracting, developing, and above all,

retaining the best talent is a major challenge for L'Oréal. The HR policy has three key points:
firstly, to attract and recruit talent, secondly, to promote diversity, which is essential to the
Group's creativity, and thirdly, to maximize the development of our employees. They seek talent
above all and recruit candidates primarily on their personality, their personal qualities more than
their technical skills, such as leadership, entrepreneurship, sensitivity to our business, an ability
to manage generously, and to deal with complexity.
Very strong company culture: L’Oréal has built a very strong company culture based on
entrepreneurship, curiosity, and dynamic and ambitious profile, with a very strong corporate
spirit.
Development personal: In L’Oréal, they have a process for developing and evaluating the
performance of the employees based on an assessment carried out with them twice a year, which
results in a development plan for each employee. L'Oréal offers its employees three areas of
training:
 Vision and Culture gives them a better understanding of the Group and its identity
 Personal Development and accompanies the employee throughout his or her career; a
junior will develop communication skills and later management skills.
 Business Expertise offers the opportunity to deepen knowledge in one's field of activity.

21
Intern policy: The recruitment of interns is one of the strengths of L'Oréal's HR policy. This will
allow them to get to know L'Oréal from the inside, to find out if they want to work for the
company in the future and if they are interested in the profession. For the company, these
internships are part of our pre-recruitment policy and for example, 47% of the product managers
are former interns.
Social advantage: Finally, L’Oréal offers great social advantage and often more than the
national average. In terms of wages, the starting salary is higher than most other companies in
France and employees can have a bonus. Moreover, development and career prospects are very
important as you can move from one brand to another or one country to another very easily.
Finally, in-kinds benefits are also very attractive (holidays, benefits, etc)
2. USA strategy
a. Entry modes:
L’Oréal USA, based in New York, was established in 1953, is a subsidiary of the L’Oréal Group,
headquartered in Paris, France. Two third of the products sold in the US are produced in the US.
In 2018, L’Oréal USA attained the revenue of US $7.5 billion. There are more than 30 brands
and more than 11,000 employees, 470 US researchers, and scientists.

b. Research and development:

 Evaluating products and do consumer research studies.
L’Oréal USA has a separate website looking for men and women 18 and older to use and
evaluate their products and invite customers to participate in their consumer research studies.
There are several ways to participate:
- Many studies are conducted at our testing center located in Clark, New Jersey
- Some studies involve online surveys
- Other studies include products mailed to your home for testing and evaluation
Find the best skin cleansing solution by acquiring Pacific Bioscience Laboratories in 2011.
Clarisonic is rapidly becoming the skin cleansing
solution most recommended and used by more and
more professionals, including thousands of
dermatologists, salons, and spas. Added to the
millions of enthusiastic consumers who have already
adopted Clarisonic as their skincare solution is an
inspiration to continue to improve skincare routines
in new ways.

c. Corporate social responsibility:

Packaging solution:
Responsible for packaging policy with three important pillars: respect, reduce and replace.
Having better packaging solutions relies on responsible sourcing of the material used, especially
using resources from sustainably managed and preserved biodiversity. Likewise, they aim to
completely stop using PVC in its packaging.

Essential measures during a hard time of Covid-19:

 Corporate donation and employee match campaign to Feeding America: L’Oréal USA is
donating $250,000 to U.S. hunger-relief organization Feeding America. This is part of a

22
 company-wide giving campaign in which L’Oréal will match additional employee
donations dollar for dollar up to $25,000.
 Donation of personal care and hygiene products to Feed the Children: L’Oréal USA is
donating personal care products valued at more than $1 million (including cleansers and
moisturizers) to Feed the Children, a non-profit dedicated to alleviating hunger nationwide.
 Donation of surgical and N95 respirator masks to local hospitals: L’Oréal USA is donating
protective masks from its operations facilities in North Little Rock, Arkansas, and
Franklin, New Jersey to local hospital systems in each surrounding community.
d. Operational marketing:

 Focus digital revolution with Makeup Genius mobile apps.

The digital strategy adds value to L’Oréal Paris innovations by catching up to the latest trends
via Internet monitoring, introducing the new cutting edges mobile apps called Makeup Genius,
and creates an even closer relationship with consumers through their well-known brand
ambassadors with millions of fans following them on social networks.
 Offer free virtual consultations to customers.
Customers can book a free appointment with one of 7 highly qualified hair color specialists on
Mondays, Wednesdays, and Friday from 9:30am to 4:30pm depending on availability. Each
consultant will last approximately 15 minutes and will be conducted over video chat.
 Makeup partner of Cannes Film Festival.
L’Oréal Paris was the official makeup partner of the Cannes
Film Festival 2019, which was attended by many of
Hollywood’s emerging talent along with well-known stars.
Especially, L’Oréal Paris launched the “Worth It” show, about
women’s empowerment, live from the beach of the Grand
Hyatt Cannes Hotel Martinez.

 Partner with Disney to create a makeup line that

reflect the upcoming movie sensation.
The live-action remake of Beauty and The Beast was set to
hit cinemas and as Disney’s fan, L’Oréal Paris released a
limited-edition make-up line to coincide with the film.

e. Human resource:

 Invest in resources and training programs.

 Ethical principle shapes culture strengthen reputation.
 Acting in good faith is essential to build and maintain trust and relationships.

23
 3. Asia strategy: China
a. Entry modes:
L’Oréal, the world’s largest cosmetic company, entered China’s market in 1997. Since then,
L’Oréal Paris in China has expanded and become one of the nation’s most loved and purchased
brands, with China its second-largest market in the world.
For 20 years, China continued to receive investment and evolution as L’Oréal China built one
headquarter, one R&I Centre, one Academy, two plants, and five regional offices that housed 21
brands with about 9700 employees.
b. Five key strategies to explain L’Oréal China success
 Aspirational brands & products with high quality:
Aspirational Brands strategy is based on a deep understanding of consumers’ needs. In order to
satisfy Chinese customers’ lifestyles, L’Oréal not only performs cluster analysis in China,
focusing on all customers’ needs to optimize products and
brands but also adopts social listening to keep track
of brands’ performance and discover new
opportunities. L’Oréal China is riding on the waves
of consumption diversification: launching
complementary brands and products in various
categories. Since the 90s, L’Oréal Paris has chosen
famous actors representing Chinese beauty as the
brand's face to expand the brand's influence.

 Superior & Unique Innovation:

L’Oréal combines their scientific expertise of
worldwide research centers with their China
innovation hub (the Shanghai L’Oréal Research
Centre since 2005 with about 360 Experts). Due to
the efforts of Shanghai lab, L’Oréal is able to
create more region-specific products such as anti-
aging serums, whitening creams and pollution-
fighting cleansers for Chinese customers. The
technology such as skin reconstructions created in
the Shanghai-lab will help L’Oréal create
customized make-up and skincare for Chinese
consumers, and is thought to be a way for the
company to hold on to its position as the top-
selling beauty brand within China.

 New marketing:
L’Oréal well-thought-out digital marketing plan, o2o (online-to-offline) is important in China
and should include several traits: social media, e-reputation, KOL’s (key opinion leaders) or
influencers and diversity of content to keep the visitors/fans engaged. L’Oréal Paris has their
own official accounts on Weibo with a large number of followers. L’Oréal Paris announced
Yuan

24
Wang, an 18-year-old Chinese idol from boy band TFBoys, who has nearly 40 million followers
on Weibo, as its newest Chinese brand ambassador in 2018.

 New retail:
L’Oréal China launches the omni-channel retail together with partners like Alibaba, a Chinese
Internet giant. L’Oréal China was awarded the Grand ONE Business Award at Alibaba Group’s
ONE Business Conference. The award recognizes L’Oréal’s digital pioneering underpinned by
consumer-centricity in new marketing, new retail, data, and AI as well as digital talent, culture
and organization. L’Oréal China was awarded for its data-driven product innovation, omni-
channel marketing, and new personalized consumer
experiences, marked by several initiatives with
Alibaba.
With the help of Alibaba’s augmented-reality
technology, L’Oréal has installed an interactive
device at its Shanghai, Wuhan, and Changsha
boutique shops and several pop-up stores. With it,
visitors can “try on” different types of makeup by
simply looking into the screen and tapping on a
selection of hues that appears at the bottom.

 Social value:
In a country like China, contributing to making society a better place to live is very important for
consumers. L'Oréal's “Sharing Beauty With All” sustainability program announced by Jean-Paul
Agon in October 2013 sets out four strategic commitments:
- 100% of L’Oréal products have an environmental or social improvement
- Reduce greenhouse gas emissions in absolute terms, water consumption and waste per finished
product by 60%
- Raise consumers’ awareness of the environmental and social impacts of their consumption
- Developing sustainably to share growth to benefit collaborators, suppliers, and communities
around us
4. Asia strategy: Vietnam

Vietnam is a small market but has great potential with 14% growth per year however the issue of
counterfeiting is very serious in Vietnam with about 60% in 2015. In 2013, L’Oréal saw the
potential of the Vietnam market and decided to open offices in Vietnam (Direct sales). Through
5 years, L’Oréal Vietnam with a good social media and also the reputation of holding company
L’Oréal help them easily approaching Vietnam consumer.
a. Entry modes

Realizing the potential of the Vietnam cosmetic market, L’Oréal Paris came to the Vietnam
market via distributors in 1999.
In addition to traditional development such as Russia, China, Brazil, and India, L’Oréal Paris
underlined the growing important market such as Thailand, Vietnam, South Africa, Ukraine,
Indonesia, Philippines, and Turkey. Therefore, they officially established the representative
company in 2007.

25
 b. Operational Marketing

First, in the marketing of cosmetics, there is

the Makeup.com website of L’Oréal, a useful
source of content from the editorial board and
a vast network of vloggers. Famous celebrities
and YouTube beauty bloggers in Vietnam such
as Trang makeup, Diem My, Trinh Pham often
share branded content on their own channels,
increasing L’Oréal's coverage many times
Moreover, influential celebrities like Lan Khue
become L’Oréal’s brand ambassador in
Vietnam in 2016. Next, they invited Huong
Giang idols to Paris fashion week in 2019,
specifically
Le Défilé show. This attracted a large number
of fans to pay attention to the L’Oréal Paris
brand as well as to promote the celebrity's
image to the international community.
Cosmetics of the celebrities used at the event
also came from L’Oréal Paris as a commitment
to product quality to consumers.
In addition, L’Oréal also sponsors many
television programs in Vietnam such as the
face, DaPhaLe, and Brandstorm.

Each of these sponsorship campaigns always comes with a new product line of L’Oréal Paris
along with countless incentives to stimulate shopping and detailed information to introduce the
product.

L’Oréal Vietnam is also a company that implements CSR (corporate social responsibility) very
well recently they have celebrated the 10th anniversary of L’ORÉAL CITIZEN DAY

Besides, L’Oréal has many other community programs such as Beauty to live - Live to be
beautiful project, L’Oréal Vietnam - Beauty for All” scholarship and #L’Oréalactsofkiness
L’Oréal Vietnam are very proud to be voted into the list of Companies with the best working
environment in Asia by HRAsia in 2019. L'Oréal culture originates from the humanistic view of
the founder of the Group more than 100 years ago put the "Human-Human-Human" factor as the
focus of the Group's development and growth. Since then, L’Oréal has launched a global
program called "Share & Care" that provides employees with equitable welfare regimes and
culturally entertaining activities that are popular with employees. Achieving this title will create
more motivation for L'Oréal Vietnam Company to continue promoting, innovating and creating
new programs for 2020, emphasizing the flexibility and autonomy of each employee in choosing
benefits according to the needs of each individual; and training programs on each career
development roadmap at L’Oréal both at home and abroad.

26
 c. Distribution Channel
L’Oréal has traditionally been selling goods through traditional channels. Through 3 recent
years, e-commerce in Vietnam has been developing very fast. Therefore, L’Oréal, cannot miss
this overly developed market.
Online sales are divided into 2 areas: E-commerce and Social platforms. Facebook is one of the
favorite social networks for companies. Actually, Facebook is a compatible social network in
many countries. Moreover, all Facebook users will be more receptive to information than other
social networks like Twitter, Zalo, or Instagram. With the fan page of L’Oréal Paris on
Facebook, the company earned about 36 million likes with a high amount of interaction.

Zalo has great potential because it supports well interactive features such as chatting, calling ...
to meet the needs of very careful product advice from buyers. Besides, Zalo also has interesting
features such as sharing emoticons and product reviews. Interactive information in Zalo
multidimensional when users share, voice chat, Video Call, unlike other e-commerce channels.

27
CONCLUSION
L'Oréal- the pioneer for the future
From 2019 to 2020, the global economy is greatly affected by the outbreak of coronavirus,
especially in China and Europe Zone. This epidemic is like a global recession in the year 2008.
It affects a lot of professional product division as the hairdresser has to close their shop to
prevent the coronavirus. But it is also an opportunity for an era of
breakthroughs and improvements as well as innovation. In this
situation, hand sanitizer is becoming especially hard to come by
— even for those who need it most, L’Oréal is taking it upon
itself to respond to this shortage. As reported by WWD, the
label has begun using its facilities to produce both hand sanitizer
and hydro alcoholic gel, two things in short supply since the
outbreak of the virus. But that’s not all L’Oréal has planned to
help the fight against COVID-19. The brand announced its
intention to use its foundation to donate one million euros to
help the disadvantaged
during these times. The money will be distributed to several partner associations, who will also
be offered hygiene kits and hydro alcoholic gel intended for use by social workers, volunteers,
and beneficiaries. According to Reuters, Cosmetics group L’Oréal (OREP.PA) was launching a
150 million euros ($162.99 million) program of climate change initiatives and financial aid to
support vulnerable women hit hard during the coronavirus pandemic. Hence, L’Oréal’s strategy
is not only for fighting against Coronavirus, it is the fight against the future.

28
RECOMMENDATION

L’Oreal decision making process is decentralized which is not the right selection of
the company for decision making style so we recommend that the company should
review its decision making style and should alter it to centralized or in another
decision making style. Decentralized decision making style can be good for any
company but companies operating in diversified businesses this style may be
extremely difficult to control.
Secondly the company is mostly relying on third party retailers which do not give
the chance to company to control its sales 100% so company should try to have its
own outlets so that sales can be controlled and managed well.
Thirdly the company should focus on its customer services so that communication
can be improved within and outside the company.
Finally Digitalization is revolutionizing the way nearly every company in every
industry interacts with consumers. The race to digitally transform is more intense
than ever for manufacturers. Blockchain, Internet of Things, and Artificial
Intelligence are pioneering technologies that create competitive advantages for
L’Oréal in this race.

29
BIBLIOGRAPHY
1. https://www.loreal-finance.com/eng/news-release/sales-30-september-2019
2. https://www.loreal-paris.fr/la-marque
3. https://www.gbnews.ch/loreal-une-politique-rh-originale-et-ambitieuse/
4. https://www.loreal-finance.com/fr/rapport-annuel-2018/digital-4-3/e-commerce-
nouvelle-phase-developpement-4-3-5/
5. https://babuki.vn/thi-truong-san-pham-duong-da-viet-nam-2018/
6. https://moavn.com/marketing-online/nganh-my-pham
7. https://www.brandsvietnam.com/congdong/topic/3689-Thi-truong-my-pham-trang-
diem-tai-Viet-Nam
8. https://maybanhang.net/2017/03/kinh-doanh-pham-nhap-khau-thi-truong-ty/info-chi-
tieu-my-pham-cua-khach-hang/
9. https://qandme.net/vi/baibaocao/Thi-truong-my-pham-trang-diem-tai-Viet-Nam-
2016.html
10. https://www.brandsvietnam.com/16034-Giam-doc-Marketing-LOreal-Vietnam-Zalo-
la-kenh-chung-toi-khong-the-bo-qua
11. https://mordorintelligence.com/industry-reports/united-states-cosmetics-products-
market-industry
12. https://www.techsciresearch.com/report/united-states-cosmetics-market/1404.html
13. https://www.ibisworld.com/united-states/market-research-reports/cosmetic-beauty-
products-manufacturing-industry/
14. https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-
since-1990/
15. https://www.slideshare.net/jagadeeshtnv/loreal-report
16. https://www.fda.gov/cosmetics/cosmetics-laws-regulations/fda-authority-over-
cosmetics-how-cosmetics-are-not-fda-approved-are-fda-regulated
17. https://cosmeticsinfo.org/cosmetic-regulation-us
18. https://www.academia.edu/5132436/LOR%C3%89AL_COMPANY_PROFILE_SWO
T_ANALYSIS
19. https://www.loreal.com/brand/l%E2%80%99or%C3%A9al-luxe/clarisonic
20. https://www.cbinsights.com/research/report/beauty-trends-2019/
21. https://www.howandwhat.net/pestel-analysis-usa/
22. https://www.statista.com/statistics/1044012/usa-digital-platform-audience/
23. https://www.thinkwithgoogle.com/marketing-resources/loreal-mobile-digital-
marketing-strategy/
24. https://datareportal.com/reports/digital-2020-united-states-of-america
25. https://consumertesting.lorealusa.com/STLU/index-hp.html
26. https://www.lorealusa.com/group/discover-l'or%C3%A9al-
usa/l%E2%80%99or%C3%A9al-usa-at-a-glance
27. https://www.lorealparisusa.com/about-loreal-paris/covid.aspx
28. https://www.lorealparisusa.com/about-loreal-paris/overview.aspx
29. https://www.lorealparisusa.com/hair-color-hub/virtual-hair-color-consultations.aspx
30. https://www.loreal.com/media/news/2018/mai/cannes-worth-it
31. https://www.loreal-finance.com/eng/news-release/loreal-usa-acquire-pacific-
bioscience-laboratories-innovator-clarisonic-market-leader
32. https://www.comparably.com/companies/loreal/competitors
33. https://blog.tomorrowmarketers.org/phac-hoa-thi-truong-my-pham-viet-nam/
34. https://blog.marsal.edu.vn/cach-thuc-loreal-lam-trade-marketing/

30
ANNEX 1: L’OREAL STRUCTURE

31