L'Oreal's Marketing Award Competition Offers Real-Life Brand Management Experience and Career Opportunities
Eight U.S. Teams Compete in the Global Competition
NEW YORK, Feb. 12 /PRNewswire/ -- Imagine -- you are given the opportunity of a lifetime -- to be a Brand Manager for L'Oreal, the world's leading cosmetic company, placed in charge of creating innovative new products and developing a dynamic international marketing strategy to support the product launch. The responsibility rests in your hands, and it's up to you to oversee every aspect of the launch from the packaging design to the communications campaign. That's exactly what will happen with the start of the 12th edition of the L'Oreal Marketing Award which is currently underway. Undergraduate students from 90 leading universities in 26 countries will assume the role of Brand Managers for one of the most innovative companies in the world. These aspiring brand managers will have the opportunity to put their classroom theories into practice in a "real life" marketing experience. Comprised of teams of three, students will work closely with an actual world-class communications agency that will help them bring their ideas to life, set their imaginations free and unlock their creativity. This year, students will focus their attention on L'Oreal's hot Biotherm Homme brand, representing the promising and fast-growing men's cosmetic market. Students will have an opportunity to impress senior L'Oreal executives -- at both local and international levels -- as well as the company's top brand managers and recruiters Last year the U.S. competed for the first time with three teams selected from leading partner schools representing the Fashion Institute of Technology (FIT), the University of Pennsylvania and New York University (NYU). The winning team from NYU went on to compete in the International Finals in France and presented in front of an Executive Panel of judges. This year the U.S. has raised the bar and increased the number of competing schools to a total of eight teams that include three leading Historically Black Colleges and Universities -- Spelman, Morehouse and Clark Atlanta -- along with teams from top ranked Princeton University, University of Michigan, Fashion Institute of Technology, University of Pennsylvania and New York University. On February 18th, selected teams from these Universities will meet in New York for a special briefing session with the Biotherm brand in preparation for the National finals. The best teams from each of the 26 countries represented will be selected from each market's National finals to be held in Spring 2004, and will represent their country in the International finals held in Paris in June. These finalists will compete for top honors and prizes. One of the prizes is a unique travel experience that allows the winning team to pick and visit three major artistic capitals from a list of 14 recognized as leading centers of creativity. Since its launch in 1993, the L'Oreal Marketing Award has offered unparalleled real-life professional experience to some 11,000 students worldwide. The competition process is an educational forum that gives students the opportunity to demonstrate their talent to beauty business professionals and meet face to face with L'Oreal executives. In 2003, L'Oreal recruited 72 students globally as a result of the competition. According to Francois Vachey, Executive Vice President for Human Resources at L'Oreal, "To us, all of the students who compete are winners. The caliber of talent we experience is exceptional. This is a win-win proposition for the students and for L'Oreal. The students experience what it would be like to work for a major global cosmetics company. And we have the opportunity to put their creativity to the test and perhaps have the opportunity to hire from a very talented pool of international students." Note to Editors L'Oreal's credentials as the organiser and arbitrator of the L'Oreal Marketing Award are undisputable. The Group is the world's number one cosmetics company with an impressive portfolio of 17 international brands, sold in 140 countries, comprising L'Oreal Paris, Garnier, Laboratoires Vichy, La Roche-Posay, L'Oreal Professionnel, Lancome, Biotherm, SoftSheen-Carson, Maybelline, Matrix, Redken, Kiehl's, Shu Uemura, Helena Rubinstein, Giorgio Armani cosmetics, as well as Cacharel and Ralph Lauren perfumes. The Group is also one of the world's most successful businesses ever; having reported its 18th consecutive year of double-digit growth for 2002. For further information visit: www.loreal-marketing-award.com
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