10/26/2021 | Press release | Distributed by Public on 10/26/2021 09:04
Clichy, 26th October 2021 - Responding to consumer desire for greater ingredient disclosure to make more informed purchasing decisions, the L'Oréal Groupe announced the latest of its industry-advancing transparency initiatives. The company's new global model for fragrance ingredients disclosure will progressively provide an unprecedented level of information to consumers in an understandable and accessible way across its entire portfolio of brands and products.
As the only pure beauty player in all distribution channels and all product categories, L'Oréal needed to design a disclosure model that not only worked for its consumer mass-market products, but also for its collection of luxury fine fragrances.
As industry leader, L'Oréal has built a unique scientific expertise in fragrance, providing the highest standards of safety and quality based upon the latest advances in health & environment, consumer knowledge, and analytical sciences. The journey to create this disclosure model started three years ago with the analysis of more than 20,000 fragranced formulas. Each fragrance formula is a very complex and unique composition created by an expert based on the associations of the best of natural extracts and enhancing synthetic ingredients. Some fragrance compositions can include many ingredients of synthetic or natural origin. The challenge, therefore, was to provide the highest level of transparency while preserving the know-how and confidentiality relating to the uniqueness of specific fragrances. To develop this disclosure model, L'Oréal worked hand in hand with its suppliers being the four international leaders in fragrance creation: Firmenich, Givaudan, IFF & Mane.
The new voluntary disclosure model is far more than a list of ingredients. Built with the consumer experience in mind, the aim of the model is to also promote understanding about the origin of ingredients, their olfactory values, and how they work together to create the fragrances in their products.
This announcement is a further step in the Group's commitment to transparency, following the launch of Inside Our Products website in 2019 to inform consumers about the ingredients in its product formulas, the Product impact Labelling initiative in 2020 to provide information about the social and environmental impact of its products, and a Transparency Summit focused on L'Oréal's Green Sciences commitments held in March 2021.
L'Oréal will roll out the new fragrance disclosure model in phases, beginning first in the United States with Atelier Cologne, Garnier and Yves Saint Laurent, which are already live. The Group will then progressively deploy the model throughout all of its global markets and brands.
"Our commitment to rigorous scientific research and standards is what built our longstanding trust with our customers. Now, with this new voluntary fragrance disclosure model, we are letting our customers know we hear their desire for not only more information about already available ingredients but also for their deep understanding," said Barbara Lavernos, Deputy Chief Executive Officer L'Oréal, in charge of Research, Innovation and Technology. "Transparency is at the heart of the trust consumers establish with our brands and we are proud to continue to respond to their desires and provide them with the information necessary when making purchasing choices".
As a responsible beauty leader, L'Oréal intends to make its voluntary fragrance disclosure model available to be open and replicable by other product manufacturers and retail partners, reflecting its commitment to leading the industry's movement towards greater transparency.
L'Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 35 diverse and complementary brands, the Group generated sales amounting to 27.99 billion euros in 2020 and employs 85,400 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 salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 4,000 people, are at the core of L'Oréal's strategy, working to meet beauty aspirations all over the world. L'Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
More information on https://www.loreal.com/en/mediaroom
"This press release does not constitute an offer of sale or solicitation of an offer to purchase L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website www.loreal-finance.com.
This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements."
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