Business Wars Estée Lauder vs L'Oréal | Lipstick Lockdown | 6
Feb 22, 2021
In 2007, L'Oréal faces a scandal when heiress Liliane Bettencourt’s family accuses a friend of exploiting her dementia. Meanwhile, both L'Oréal and Estée Lauder scramble to boost sales through savvy acquisitions, turning to YouTube influencers' burgeoning power. As the pandemic hits, the beauty industry must pivot toward skincare and technology to survive. The rise of IT Cosmetics showcases the importance of innovative products, while the emotional connection to beauty remains strong despite the challenges.
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L'Oréal Heiress Lawsuit
- Françoise Bettencourt Myers, L'Oréal heiress, sued François-Marie Banier in 2007.
- She accused him of exploiting her mother, Liliane Bettencourt's, dementia to obtain over a billion dollars in gifts.
Acquisitions and Growth
- Estée Lauder acquired MAC and Bobbi Brown, while L'Oréal acquired Maybelline.
- L'Oréal became the top beauty brand globally through rebranding and new product launches.
Prescriptives Closure
- William Lauder proposed closing Prescriptives' stores due to the recession.
- Leonard Lauder agreed, acknowledging the changing landscape of the beauty industry and the rise of online sales.