L'Oréal Named to Top 50 on Fast Company's 2024 100 Best Workplaces for Innovators

Fast Company announced L’Oréal’s placement in the Top 50 on its 2024 Best Workplaces for Innovators list, honoring organizations and businesses that demonstrate an inspiring commitment to encourage and develop innovation at all levels. Fast Company also named L’Oréal winner of the Beauty and Fashion category.

 L'Oréal’s recognition comes from its dedication to fostering a culture of innovation across all levels of the organization, including its:

Collaborative Approach to Innovation

L'Oréal's commitment to collaborative innovation is exemplified by its internal group, L'Oréal Open Innovation, and its venture capital fund, BOLD. These entities actively seek partnerships with startups, tech companies, academics, and incubators to drive groundbreaking advancements in the beauty industry. One such partnership, with hardware startup Zuvi, resulted in the creation of AirLight Pro, a revolutionary hair drying tool which was unveiled at CES 2024 by L'Oréal CEO, Nicolas Hieronimus.

Investment in the Future of Beauty

L'Oréal's dedication to innovation extends beyond financial investments to encompass strategic collaborations that address key areas such as sustainability and biotechnological advancements. The company's venture capital arm, BOLD, actively partners with disruptive startups in tech, science, beauty brands, and platforms. Recent examples include the acquisition of Gjosa, a Swiss company specializing in water-saving technology, and an investment in Debut, a biotechnology platform revolutionizing the development of sustainable beauty ingredients.

Beyond financial investments, L'Oréal actively collaborates with leading universities like UC Berkeley's Bakar Labs to provide its R&I teams and startups with access to cutting-edge technologies and research opportunities. These collaborations focus on leveraging L’Oréal's expertise in microbiome science and Bakar Labs' biotech knowledge to develop innovative beauty solutions that cater to individual needs and address specific skin concerns.

Commitment to Inclusivity

L'Oréal firmly believes that a diverse and inclusive workplace is crucial for fostering innovation. The company's Research and Innovation (R&I) division embraces intrapreneurship, encouraging employees to contribute their unique perspectives and ideas. L'Oréal's newly renovated R&I facility in Clark, NJ, serves as a hub for showcasing employee innovation through programs like the Research Symposium, where employees present their latest breakthroughs and inspire co-creation.

Furthermore, initiatives like Beauty Shakers, L'Oréal's internal innovation program, celebrate the creativity and ingenuity of its employees.

L'Oréal's recognition as one of Fast Company's 100 Best Workplaces for Innovators is a testament to the company's unwavering dedication to driving progress in the beauty industry and beyond. By empowering its employees, investing in groundbreaking research, and embracing a collaborative spirit, L’Oréal continues to shape the future of beauty.

The 2024 Best Workplaces for Innovators list ranks 100 winners from a variety of industries, including entertainment, biotech, consumer packaged goods, marketing, education, healthcare, and many more. To earn Best Workplaces for Innovators recognition, all of this year’s winners (as well as dozens of additional finalists that appear online) completed an application that addressed questions about projects, investment, companywide programs, and workplace culture. Fast Company editors evaluated applications and conducted additional research to generate a score for each company. A separate judging panel then reviewed the top 125 companies to reach a consensus on the overall winner. 

To see the complete list, go to https://www.fastcompany.com/best-workplaces-for-innovators/list.