Mission of L’Oréal is offering “Beauty For All” by provide the best in cosmetics innovation to women and men around the world with respect for their diversity. (L’Oréal, 2012) The company addition mission values are “beauty is a language”, “beauty is universal”, “beauty is a science” and “beauty is a commitment”, these mission values are set to achieve the goal by meeting all the beauty needs and desires.
PESTEL Analysis: External Influence on the market
Political / Legal Aspects
In 2009, E U (European Union) had implemented a ban on the sale of cosmetics with animal test no matter where the testing place and it went into effect on 11th March 2013. This ban has brought some impacts to the cosmetics industry such as the firms are facing the China’s animal testing regulation which is all the imported cosmetics must be tested on animals before sold in the market, and the cosmetics firms are required to pay for the tests. But it’s not including the soaps, shampoo and certain skin care products manufactured in China. It put the Europe cosmetics firms at a competitive disadvantage in global market.
After a long recovery from lingering recession, the World Bank indicated the global economic growth rate is forecast to accelerate from 2.4 percent to 3.2 percent in 2014from the U.S., China and other major developed countries. (U.S. News & World Report, 2014) Hence, many private analysts forecast consumer demand is increasing due to better off financially spending more for services and products. (Los Angeles Times, 2014)
In this day and age, men are started focus on their image appearance, the demand of cosmetic and skin care products become higher and higher. Particular in Asia, men’s grooming are one of the fastest growing areas in the personal care market, with sales predicted to exceed $39.1 billion in 2015. The strongest growth figures come from South Korea, Japan and China, revealing that men in these countries are becoming more and more beauty conscious. (Euromonitor International, 2013)
Beguiling fragrances, smoothing essences, lipsticks with both decorative and conditioning ingredients—the range of products offered by the cosmetics industry is vast, and the demands made on cosmetics packages are just as diverse.
Customers expect high-quality products that offer beauty, well-being and a certain image. The packaging must be a high-quality eye-catcher with a stylish look and, if possible, be equipped with additional functions. The Italian Coesia Group is pushing ahead energetically with machine innovations. Its Swedish subsidiary Norden Machinery, for example, which specializes in tube filling machines, is constantly at work to increase the flexibility and versatility of its systems. Among Norden’s most recent developments is an inspection system that ensures 100% detection of leaks in plastic and laminate tubes in-line and ejects defective tubes automatically with no...