Cosmetics Industry Essay
This industry is still flourishing with growth in the past 5 years and always will for the sole purpose that people are very particular about the way the look and express themselves. The L’Oreal Group is the world’s largest beauty and cosmetic industry. It’s over all net worth is about $100 billion. L’Oreal specializes in hair color, skin care, sun protection, facial make up, perfumes and hair care. The company was founded in Paris, France by Eugene Schuler in 1909. Eugene was young chemists who use to manufacture and sell his hair products to local hairdressers.
He then started making profit, and developed his small business into a large corporation. In today’s day and age the CEO of L’Oreal is Jean Paul Agony. Agony Joined the company in 1978. He has a vast knowledge for marketing and cosmetics. The successful entrepreneur worked his way up through the top by creating new ideas, tackling massive challenges and economic crises toward the business. He also created new cosmetic lines such as L’Oreal studio line, which is a commonly popular line of products. In 2006 Agony was appointed to become CEO of the company and still promotes L’Oreal successes today.
Within the past year, L’Oreal sales have been booming. Jean Paul even quoted that L’Oreal has the means to buy out the famous Swiss chocolate company nestle by 2014. Since the company is at a $100 billion dollar shot, it is possible for this company to raise stock as much as 35 billion Euros. L’Oreal has come a long way, and will certainly keep soaring high if they invest smartly. Esteem Lauder was a company co founded by a woman named Josephine Esther Mentor in 1906 with her husband Joseph Lauder.
When Esteem was growing up, she eloped her uncle’s business; which was where she started selling beauty and skin care products to young women and friends. Lauder demonstrated and sold her different types of skin creams to local beauty parlors. Soon enough, Esteem created her own co-founded company called “Esteem Lauder” and is now one of the leading cosmetic and beauty companies in the world. Esteem Lauder products specialize specifically in makeup, nail care and skin care products. The current CEO of Esteem Lauder is Barrio Freed, who has been the CEO since 2009 of Esteem Lauder.
The many has a net worth of $8 billion and has grown rapidly since the year 2011. The years 2011 profits were consisted of 42% skin care, Make up 38%, Perfumes 14% and hair care 5%. This year, Este Lauder Jumped up to 84% fiscal profit this year which shows that Esteem lauder is still a very progressive company. These two well respected company’s represent the cosmetic industry in a positive Cosmetics Industry By Judiciousness important the cosmetic industry is to the average person. I hypothesize that the beauty industry will forever be successful because of the changes it could make on people’s lives.
