Description
Book SynopsisGet an insider's perspective intohow this 110-year old world leader in beauty built on its legacy to transform itself into a digital and tech powerhouse Digital Makeover: How L'Oréal Put People First to Build a Beauty Tech Powerhouse examines L'Oréal'ssuccessfulpeople-drivendigital transformation.Professors and authors Beatrice Collin and Marie Taillard set out exactly howL'Oréalturned itself into a digital and tech powerhouse bybuilding on its legacy toreimaginerelationships inside the company, and with its customers and partners. Digital Makeovercomprehensively describesL'Oréal'sstrategy,including: Maintaining market leadership in the face of disruptionBelieving in thetransformativepower of theorganization, its legacy and its peopleA social-centric approach to beauty tech, ecommerce and digital servicesThe company's successful play for market dominance in ChinaCase studies that showcase best practicesfor digital transformationacross sectors Digital Makeoveris perfect foranyone interested inbusiness strategy, marketing,or digital transformation, as well as businesspeopleand leaders frominside and outside the beautyindustry andbelongs on the shelves of anyone withan interestin organizational transformation, management, leadership, and digital strategies.
Table of ContentsForeword: Permanent Reinvention in the Genes ix
Introduction: Building a Beauty Powerhouse xiii
Part I Four Foundational Pillars 1
1 Orchestrate Creativity 3
The Importance of an Evangelist 4
Time to Improvise 6
From Creative Chaos to Orchestrated Rigor 13
Enabling Resonance 16
2 Cultivate Healthy Doubt 21
Productive Anxiety 22
Challenging the Status Quo 23
Permanent Questioning 24
The Dual Innovation Channel 25
Balancing Passion with Science 26
Tensions and Achievements 27
Market Leader and Challenger 28
3 Learn and Innovate with Rigor 37
Innovators Are Most Valuable Players 39
Do, Undo, and Redo 42
Incubators as Promoters of Change 47
4 Listen with Curiosity 51
Politeness of the Heart 54
Seizing What’s Emerging 59
L’Oréalization 60
Full Color Palette 61
Ban the Boring 64
An Open Innovation Ecosystem 65
Part II A Human-Centered Transformation 71
5 Centering Customers 73
A Focus Shift 75
Precision Marketing 80
Seamless Customer Journeys 81
The Strategic Use of Data 84
6 Becoming Social 89
Social Centricity 92
Friends Find Solutions 94
Friends Give Advice 95
Friends Take You Places 96
Friends Share Their Looks 97
Friends Shop with You 98
Friends Stick Together 100
7 Transforming Relationships with Partners 105
From a Chain to an Ecosystem 106
Ecosystems’ Key Attributes 108
Ecosystems Perform in Times of Crisis 114
8 Putting People First 119
Teams Are the New Heroes 122
Customer Satisfaction Is the New Product Performance 124
Eat What You Cook Is the New Leave Before It Burns 125
Frame and Trust Is the New Control 128
Problem-Solving Together Is the New Meeting Behavior 130
Empowerment Is the New Management 132
Test and Learn Is the New Perfection 133
Cooperation Is the New Confrontation 135
Conclusion 139
Acknowledgments 143
About the Authors 147
Appendix 1: L’Oréal’s History: A Timeline of Significant Dates 151
Appendix 2: Timeline of L’Oréal’s Acquisitions and Strategies 153
Appendix 3: A Selection of L’Oréal Brands by Category 2020 159
Appendix 4: Global Beauty Industry Data 161
Notes 167
References 175
Index 183
