Paris, 18 September, 2007 - L’Oréal kicks off the 2008 Business Games season with its increasingly popular recruitment business competitions. L’Oréal continues to target students from various disciplines such as marketing (L’Oréal Brandstorm), engineering (L’Oréal Ingenius), business management (L’Oréal e-Strat Challenge) and it will have new additions in R&D and Sales. With these two new projects, L’Oréal now covers a range of key fields to adapt to the diverse student profiles, depending on their training and their professional interest.
Overall, L’Oréal, as part of its dynamic Human Resources policy, invests heavily in recruiting the best talents in diverse professions. These business games are innovative recruitment tools developed to attract the best talent from around the world by offering students first-hand, a unique professional experience with the world’s leading multinational cosmetics company.
Geoff Skingsley, L’Oréal’s Executive Vice-President Human Resources, said: “Diversity is fundamentally in the Group’s DNA – from diverse brands in our international portfolio, to diversity in the workplace, to diverse business models and leaders worldwide – it is absolutely in keeping with our line of thinking that we created distinct business games targeted to students with different aspirations covering a range of disciplines.”
Skingsley added “We require a highly diversified workforce across the Group because we operate in the most diverse of environments where we need to cater for every consumer imaginable, so these international business games provide us with the ideal tools to seek diverse, creative and innovative talent across the globe.”
L’Oréal Brandstorm 2008 – Vichy Capital Soleil case study targets sun protection:
For the first time, L’Oréal Brandstorm engages potential marketers in a health educational approach at sun protection amongst the youth population.
This year’s 16th edition of L’Oréal Brandstorm focuses on Vichy Capital Soleil. The case study challenges students to: “Create a new protective sun care product range to specifically address the teen and young adult market, as well as develop a marketing mix that puts VICHY in the position of authority as the public health advocate for protecting teens and young adult skin against skin damage and skin cancers”, by taking on the role of a marketing brand manager.
Vichy Capital Soleil is positioned as the market leader and pioneer in both scientific research and product innovation for advanced sun care technology and advance sun protection for women, men and children.
Launched in 1993, L’Oréal Brandstorm has, to date, an impressive total of more than 27,000 students from over 200 schools from 35 countries around the globe participating in this unique marketing competition.
L’Oréal Ingenius 2008 – engineers committed to sustainable development:
L’Oréal Ingenius is an international premier selective recruitment tool dedicated to targeting engineering and supply chain students. This year’s 4th international edition turns towards one of L’Oréal’s core values, which is the commitment to sustainable development. L’Oréal is dedicated to achieving excellence in safety, health and environment (SHE policy) and constantly aims to reduce the impacts on the environment. Following this commitment, L’Oréal Ingenius 2008 demands potential engineers to take into account the importance of being a responsible global industrial player through sustainable development.
This year selected students are invited to participate in a three-day plant diagnostic assessment in order to discover and analyse the plant, interview with Operations staff and to present their ideas on energy efficiency.
Launched solely in China in 2001, L’Oréal Ingenius became an international event in 2005 and has since been successfully growing across the continents, with further new additions this year to include India, Belgium, UK and Spain. Last year, six countries participated and now this year, L’Oréal Ingenius 2008 has doubled to 12 countries.
L’Oréal e-Strat Challenge 8 – initiatives in diversity and equity:
This year’s 8th edition of the most popular virtual business strategy competition for undergraduate and MBA students worldwide, L’Oréal e-Strat Challenge, puts students to the test in developing a long-term strategy in Sustainable Performance. Under this new scheme, students are challenged to implement “Employee Benefits”, “Environmental” and “Diversity & Equity” Initiatives. The idea is to build on Diversity and Equity in their business plans for the first time.
Launched in 2000, L’Oréal e-Strat Challenge has been recognised as an international quality learning tool and was awarded the CEL accreditation (Technology-Enhanced Learning Programme by EFMD (European Foundation of Management Development - an international institution). To date, 177,000 students from 2,200 schools in 128 countries have participated in the game.
The aim of the challenge is to manage, in a team of three students, a portfolio of beauty brands, assuming the role of General Manager, making strategic decisions on all aspects of running a cosmetics firm - the firm’s revenues, pricing, production volume and capacity, research and development, brand market shares, marketing, advertising and brand positioning and achieve the highest Share Price Index (SPI). With the new Sustainable Performance initiatives, students consider Diversity & Equity, Environmental and Employee Benefits as part of a long term strategy that will ultimately impact the Share Price Index.
This year, L’Oréal e-Strat Challenge 8 has new partnerships with internet giant Google, who is providing e-commerce and web management tools in addition to its expertise in this domain; and a sustaining partnership with AACSB International – an institution which aims at promoting and improving collegiate education for business administration and management and accredits the best Business and Accounting schools around the world. In addition, L’Oréal e-Strat Challenge continues its strategic partnership with Business Week (targeting emerging markets such as Indonesia, Russia, China and Turkey), Strat-X (the expert in on-line simulation strategy business games) and EFMD-CEL accreditation.
New L’Oréal Business Games on the horizon - R&D and Sales: In view of the growing need for attracting the best talent from diverse fields of study, L’Oréal launches this year two new business games in the domain of ‘Research & Development’, “L’Oréal Innovation Lab” and ‘Sales’, targeting scientific and commercial student profiles respectively.
“L’Oréal Innovation Lab”, the game for R&D, is for now going to be launched only in France. This innovative concept allows students to discover the R&D profession with L’Oréal, the leader in the industry for R&D investment, whilst at the same time giving the Group the opportunity to observe potential candidates in an active situation.
The questions are geared towards hair coloration, with workshops in L’Oréal laboratories for Hair Color, Evaluation, Texture and Fragrance, as well as a presentation of a scientific / technical dossier.
To date, recruitment in research has recorded 55 newly recruited researchers in France in 2006 and 120–130 internships every year in France.
The concept of the L’Oréal Salesgame is an evaluation and training selection tool – unlike the other business games - whereby individual students are evaluated on their knowledge and skill in Sales, as well as work with a consultant from Centre Européen de Negotiation (CEN) on negotiation techniques.
For now, L’Oréal Sales pilot test will be launched only in the UK and France, but there are plans for the game to be launched worldwide with a focus on the BRIMC countries.
To date, recruitment in Sales for 2006 has recorded 587 sales executives of which 82 come from Brazil, Russia, India, Mexico and China (BRIMC) and 1172 sales assistants of which 377 come from BRIMC countries. There has been a 10% every year since 2004 in the number of sales recruitment.
Telephone: +33 (0)1 47 56 76 88.
Further information on:
L’Oréal Brandstorm: http://www.brandstorm.loreal.com
L’Oréal Ingenius: http://www.ingenius.loreal.com
L’Oréal e-Strat Challenge: http://www.e-strat.loreal.com
L’Oréal R&D business game: http://www.inlab.loreal.com (launch in October)
Futher information on L’Oréal Group available at: http://www.loreal.com