L'Oreal named one of Fast Company's '50 Most Innovative Companies in the World'

NEW YORK — L'Oréal has been named one of Fast Company's "50 Most Innovative Companies in the World" for 2015.



The annual ranking honors enterprises and rising newcomers that exemplify the best in business and innovation.



The beauty company stated that it 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'Oréal's business success for more than 100 years," stated Frederic Roze, president and CEO of L'Oréal 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'Oréal 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'Oréal Paris brand. The app has already won top beauty and technology awards and honors, and has garnered millions of international downloads in less than a year.



"L'Oréal 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," stated Guive Balooch, global VP of L'Oréal'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."