L’Oréal today received the prize for "Innovation and Consumer Intelligence" in the annual Best Innovator competition.
This award was presented that evening to Jean-Paul Agon, L'Oréal CEO, by Valérie Pécresse, then Minister of Higher Education and Research. L'Oréal was selected by a panel of independent experts from 700 French companies with a turnover exceeding 300 million euros. The jury judged L'Oréal on both quantitative and qualitative criteria, from the number of patents filed per year to the amount of resources devoted to R & D and the implementation of innovation strategy and management. Jean-Paul Agon, CEO of L'Oréal, said: "Innovation has always been a key factor in the success of L'Oréal and we are proud to be honored today for our ability to anticipate the needs and expectations of consumers. Our 3,000 researchers around the world are working to develop new products for all types of beauty."