L'Oreal Named One of Fast Company's "50 Most Innovative Companies in the World"

Only Company in Beauty Industry to Earn Annual Accolade

News provided by

Feb 09, 2015, 12:40 ET

NEW YORK, Feb. 9, 2015 /PRNewswire/ -- L'Oreal has been named one of Fast Company's "50 Most Innovative Companies in the World" for 2015. The annual ranking honors leading enterprises and rising newcomers that exemplify the best in business and innovation.

L'Oreal, the global leader in beauty, has a pioneering legacy in scientific innovation dating back to its founding by a visionary French chemist who invented the first safe hair dye in 1907 and sunscreen in 1936.

"A strong spirit of innovation has been the driving force of L'Oreal's business success for more than 100 years," said Frederic Roze, President and CEO of L'Oreal USA. "We are proud of this achievement as we have worked to rapidly evolve with today's digitally connected consumer and explore new frontiers of technology."

In late 2012, L'Oreal opened the doors to its U.S.-based Connected Beauty Incubator, a division within the company's research arm dedicated entirely to technological innovation. This past June, the incubator unveiled its first project, Makeup Genius, a first of its kind virtual reality makeup experience with the L'Oreal Paris brand. The app has already won top beauty and technology awards and honors and has captivated fans around the world, with millions of international downloads in less than a year.

"L'Oreal is committed to offering beauty for all through the development of cutting-edge technologies, cross-industry partnerships that complement our scientific expertise and new experiences that add value to our consumers," said Guive Balooch, Global Vice President of L'Oreal's Connected Beauty Incubator. "Our vision for the incubator is to fuse the culture of a startup with the resources of a big company to transform the traditional notion of what a beauty company can be."

Fast Company's Most Innovative Companies issue (March 2015) is now available online at www.fastcompany.com/MIC as well as in app form via iTunes, and on newsstands beginning February 17.

L'Oreal USA is the largest subsidiary of the L'Oreal Group, the worldwide leader in beauty. L'Oreal USA manages a portfolio of 28 iconic global beauty brands, including Clarisonic, Essie, Garnier, Giorgio Armani Beauty, Kerastase, Kiehl's, Lancome, L'Oreal Paris, Matrix, Maybelline New York, NYX, Redken, Soft-Sheen Carson, Urban Decay and Yves Saint Laurent Beaute. In addition to its corporate headquarters in New York City, L'Oreal USA has research, manufacturing, distribution and retail facilities across thirteen other states including Arkansas, Kentucky, New Jersey, Ohio, Texas and Washington with a workforce of more than 10,000 employees. For more information, visit www.LorealUSA.com or follow on Twitter @LOrealUSA.