New York, NY (CNS) – L’Oreal Paris is celebrating the company’s 100th Anniversary this week. The company’s original name was The Safe Hair Dye Company of France, but later changed the name after Eugene Schueller created a safe hair dye called ‘L’Aureale’ in 1909, named a popular hair style of the times.
Schueller started out making deliveries on his bike, selling the dye to hair salons. He eventually developed new products. The L’Oreal Group is now the largest beauty company in the world and boasts over 500 brands, selling in 160 countries. The company currently employs around 67,500 employees.
Jean-Paul Agon, L’Oreal’s CEO, commented on the milestone saying, “Our centenary is an opportunity to reaffirm our commitment to our vision and our values: a robust scientific approach, a constant quest for innovation; a taste for real challenge; respect for diversity. And of a deep rooted belief in the valuable role that beauty plays in society.”
Schueller’s daughter, Liliane Bettencourt, is currently the top shareholder of the company. She has an estimated personal worth of 14 billion dollars and is considered to be one of the richest women in the world.