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“Nobody Told Me I was a Nano-Consumer:” How Nanotechnologies Might Challenge the Notion of Consumer Rights



Incorporated in France as a “Société Anonyme” with registered capital of e119,689,042 632 012 100 R.C.S. Paris Headquarters: 41, rue Martre 92117 Clichy – France Tel.: +33 1 47 56 70 00 Fax: +33 1 47 56 86 42 Registered office: 14, rue Royale 75008 Paris – France 2008 Annual Report 20 08 A nn ua l R ep or t Contents Chairman’s message 02 Chief Executive Officer’s message 04 Board of Directors 07 Executive Committee 08 Centenary 10 100 years of inspiration and creativity, the adventure of beauty continues SuStainable Development 14 Tangible commitments for responsible growth Commitments 16 Corporate governance 18 Ethics 20 Philanthropy 21 Environment 22 l’oréal finanCial highlightS 24 Group results over one, five and ten years StoCk market anD ShareholDerS 30 Individual shareholders: a stronger relationship marketS 32 branDS 36 A wealth of brands for all kinds of beauty in the world buSineSSeS 38 Offering the best of our brands in all our distribution channels Professional Products 40 Consumer Products 46 Luxury Products 54 Active Cosmetics 62 The Body Shop 68 Dermatology 71 international 72 Seizing the potential in all markets Western Europe 74 Eastern Europe 76 North America 78 Latin America 80 Asia 82 Africa, Orient, Pacific 84 expertiSe 86 Making today’s resources a strength for tomorrow Research and Development 88 Operations 92 Human Resources 94 Administration and Finance 98 Contacts and 2009 calendar 100 Kate Winslet for Trésor by Lancôme. This is a free translation into English of the L’Oréal 2008 Annual Report issued in the French language and is provided solely for the convenience of English speaking readers. In case of discrepancy the French version prevails. Published by the Administration and Finance Division and by the Corporate Communications and External Affairs Division of L’Oréal group. Photograph credits: Abacapress (p.21), Ruven Afanador (p.36, 49

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