L’Oreal hailed for its innovation policy

L’Oréal won the "Prix des Décideurs" for its innovation policy.

Clichy, 28 August 2007 L’Oreal’s strong commitment to innovation was recognised today as the world’s leading beauty company was awarded the “Prix des Décideurs” at the launch of a new prize recognising world-leading organisations in the field of innovation.

The prize, jointly awarded by the French monthly business magazine L’Expansion, management and technology consultants, BearingPoint and l’Ecole des Ponts, was initiated by the Observatoire du Management de l’Innovation, whose aim is to encourage exchanges on issues linked to innovation for large companies operating in France.

The ‘Prix des Décideurs’, granted by a jury of independent experts, is awarded to the most innovative company according to the opinion of 100 major French and international companies who completed the survey.

By awarding this prize to L’Oreal, the Observatoire du Management de l’Innovation acknowledges the essential role of the Group in the field of research.

L’Oréal spent €533m, or 3.4% of its turnover, on innovation in 2006, to continue to find new molecules and breakthrough technologies that will satisfy the beauty dreams of tomorrow. In 2006, L’Oréal, which has 16 research centres and 13 evaluation centres, patented 569 innovations throughout the world.

Jean-Paul Agon, Chief Executive of L’Oréal, said, “Innovation has always been at the heart of L'Oréal’s strategy and we believe that it is a decisive factor in our success. This prize, which we are very proud to have received, recognises the extraordinary work carried out by our 3,000 researchers coming from 61 different countries in 31 disciplines connected to research and development across the world. This prize will encourage us to continue to pursue our efforts to remain at the forefront of research and development to transform consumers’ dreams into safe, innovative products.”