NEWS
In September, L’Oréal announced an agreement to make a minority investment in SHINEHIGH INNOVATION, an innovation-led biotech company in China, to establish a long-term partnership for the co-development of novel and sustainable beauty solutions. This is L’Oréal’s first open innovation investment in China, backed by its venture capital fund, BOLD (Business Opportunities for L’Oréal Development).
HAPTA is the first smart makeup device designed for people with limited arm mobility. Created by L’Oréal for Lancôme, this innovation has been included in the Best Inventions 2023 by TIME magazine under the accessibility category.
L’Oréal innovations have been selected for five consecutive years in the annual TIME Best Inventions list, underlining the Group’s belief that the future of beauty lies at the intersection of science and technology.
The Group announced a new €15 million L’Oréal Climate Emergency Fund to support vulnerable communities through partnerships with both local organisations and international NGOs. The fund builds on L’Oréal’s longstanding commitment to address growing humanitarian and environmental challenges, bringing the Group’s total investments to more than €200 million.
L’ORÉAL RECOGNISED FOR ITS ESG PERFORMANCE
L’Oréal ranks third in the “Top 25 Most Diverse & Inclusive Companies”, a list compiled by Refinitiv, which assesses companies based on a series of Diversity & Inclusion criteria. The Group is now the number one French company featured in the index.
L’Oréal was also awarded the EcoVadis Platinum medal for its environmental and social performance, with a score of 83 out of 100. This once again puts the Group in the top 1% of the world’s best-performing companies on issues including the environment, ethics and human rights (out of 100,000 assessed).
L’ORÉAL GROUP APPOINTMENTS
L’Oréal has announced a number of important moves within the Groupe’s Executive Committee, in addition to the creation of the new role of Deputy CEO in Charge of Divisions - L’Oréal China.
These appointments will take effect in the first trimester of 2024.
Fabrice Megarbane will be appointed Chief Global Growth Officer. He will succeed Frédéric Rozé, and will be in charge of accelerating growth, leading transformation projects and animating the Group’s five Zones.
Vincent Boinay will succeed Fabrice Megarbane as President of the North Asia Zone and Chief Executive Officer of L’Oréal China. Laurence Ma, currently General Manager of L’Oréal Luxe China, will be appointed Deputy Chief Executive Officer in Charge of Divisions - L’Oréal China, a position newly created in light of the increased complexity of the Chinese market.
Emmanuel Goulin will succeed Vincent Boinay as President of Travel Retail and will join the Group’s Executive Committee.