In what could be stated as yet another feather on the cap, L’Oreal made it into the Fast Company’s list of “50 Most Innovative Companies in the World”, for 2015. The companies that showcase exemplary achievements in business and innovation gets a chance to feature its name in the list. The list is updated annually and this year L’Oreal was the only company from the consumer goods sector who have made into the list - “A Pioneering Legacy in Scientific Innovation”.
On the occasion of this glorious achievement Frederic Roze, President and CEO, L’Oreal USA said that, the company is driven by a strong spirit of innovation which has been attracting business success to the company for more than a hundred years now. He further added that they were proud of the achievement since they have worked really hard to develop newer models and evolve modern technologies to pace up with the present day digitally connected consumers.
In lines with its objective of promoting the spirit of innovation the company opened doors to Connected Beauty Incubator, a U.S. based beauty company, as a division within the research arm of the company that is dedicated to technological innovation. On June 2014, Incubator launched its first project named Makeup Genius, “a virtual reality makeup experience” in collaboration with L’Oreal Paris. The app has already registered millions of downloads internationally in less than one year.
Guive Balooch, Global VP, L’Oreal’s Connected Beauty Incubator said that L’Oreal is solemnized to offer beauty across millions internationally by developing innovative and high end technologies and promoting cross-industry partnerships to complement the company’s inherent scientific expertise to offer value-added services to the consumers.