Jean-Paul Agon, Chairman and CEO of L’Oréal, visited the Indian Institute of Management (IIM-A) in Ahmedabad to speak to students and faculty about the universalization of beauty and responsible leadership in a globally connected world. The event was attended by more than 100 students and will also be shown to other network IIM institutions in the country.
In his maiden address to Indian students Jean-Paul Agon shared his vision for L’Oréal and the company’s strong commitment to continue the heritage of being the number one beauty company in the world through sustainable business practices.
From a L’Oreal India perspective, he emphasized how instrumental the company had been in transforming the Indian beauty market, and were committed to staying the course through accelerated expansion across the business. The achievement of these goals was through a simple commitment: ‘L’Oréal Makes in India’, with its increased footprint, 90% local product manufacturing, two Research & Innovation (R&I) centers and two manufacturing facilities. Jean Paul Agon also highlighted the importance of L’Oréal’s commitment to “Sharing Beauty with All” – a program where 100% of the company’s products will have an environmental or social benefit, making a positive contribution to the world – one that is quantifiable, measurable and verifiable by 2020.
He also spoke about the weight of Indian talent and their potential significance to Indian economic prosperity. At L’Oréal, he mentioned Indian talent as being adaptable, entrepreneurial, cultural and high on human sensitivity. Over 200 international managers of Indian origin work in L’Oréal globally across the world. Some of the leadership positions are filled with Indian talent, including key global positions such as country managers.
“At L’Oréal, we believe that people make the difference. India’s wealth is its great young talent, passionate inquiring minds, and budding entrepreneurs, and I am confident they will play a major role in catapulting India to be a far bigger economic powerhouse on the global stage,” said Jean-Paul Agon in his keynote address at IIM-A.
Jean-Paul Agon also touched on L’Oréal’s universalization strategy, a cornerstone of his vision, where L’Oréal India with two R&I centers in Mumbai and Bangalore play an important role.
“Mr. Agon has inspired students at IIMA with his insightful and passionate views on leadership in today’s world. Our students have been motivated by his clear vision and learnt some valuable lessons stemming from his rich experiences in the business environment.” said IIM-A Director, Prof. Ashish Nanda. “We are honored he was able to visit IIM-A,” he added.
L’Oréal has devoted itself to beauty for over 105 years. With its unique portfolio of 28 international, diverse and complementary brands, the Group generated sales amounting to 23 billion euros in 2013 and employs 77,500 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair styling salons, travel retail and branded retail. Research and innovation, and a dedicated research team of 3,600 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world and attract one billion new consumers in the years to come. L’Oréal’s new sustainability commitment for 2020 “Sharing Beauty with All” sets out ambitious sustainable development objectives across the Group’s value chain.
About L’Oréal India:
L’Oréal India has been present in the country as a wholly owned subsidiary of L’Oréal S.A. since 1994. Today L’Oréal India is present in all distribution channels with 15 international brands, available in mass market channels (L’Oréal Paris, Garnier, Maybelline New-York), in hair salons (L’Oréal Professionnel, Matrix, Kérastase, Kéraskin Esthetics), in selective distribution (Lancôme, Kiehl’s, Yves Saint Laurent, Giorgio Armani, Ralph Lauren, Diesel) and in pharmacies (Vichy, La Roche-Posay). L’Oréal India employs over 1475 people across four regional offices, two factories in Chakan, Pune and Baddi, 2 Research and Innovation facilities, and the headquarters in Mumbai. www.loreal.co.in