Digital Makeover

BÉATRICE COLLIN is Professor of Strategy and International Management at ESCP Business School. Her research focuses on digital innovation and transformation, and she is recognized as a leading global expert on L’Oréal.MARIE TAILLARD is Professor of Marketing at ESCP Business School. She has over thirty years of experience supporting small and large companies worldwide and teaches across continents in graduate and executive learning programs. Her research focuses on digital transformation and customer centricity.

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• Foreword: Permanent Reinvention in the Genes ixIntroduction: Building a Beauty Powerhouse xiiiPart I Four Foundational Pillars 11 Orchestrate Creativity 3The Importance of an Evangelist 4Time to Improvise 6From Creative Chaos to Orchestrated Rigor 13Enabling Resonance 162 Cultivate Healthy Doubt 21Productive Anxiety 22Challenging the Status Quo 23Permanent Questioning 24The Dual Innovation Channel 25Balancing Passion with Science 26Tensions and Achievements 27Market Leader and Challenger 283 Learn and Innovate with Rigor 37Innovators Are Most Valuable Players 39Do, Undo, and Redo 42Incubators as Promoters of Change 474 Listen with Curiosity 51Politeness of the Heart 54Seizing What’s Emerging 59L’Oréalization 60Full Color Palette 61Ban the Boring 64An Open Innovation Ecosystem 65Part II A Human-Centered Transformation 715 Centering Customers 73A Focus Shift 75Precision Marketing 80Seamless Customer Journeys 81The Strategic Use of Data 846 Becoming Social 89Social Centricity 92Friends Find Solutions 94Friends Give Advice 95Friends Take You Places 96Friends Share Their Looks 97Friends Shop with You 98Friends Stick Together 1007 Transforming Relationships with Partners 105From a Chain to an Ecosystem 106Ecosystems’ Key Attributes 108Ecosystems Perform in Times of Crisis 1148 Putting People First 119Teams Are the New Heroes 122Customer Satisfaction Is the New Product Performance 124Eat What You Cook Is the New Leave Before It Burns 125Frame and Trust Is the New Control 128Problem-Solving Together Is the New Meeting Behavior 130Empowerment Is the New Management 132Test and Learn Is the New Perfection 133Cooperation Is the New Confrontation 135Conclusion 139Acknowledgments 143About the Authors 147Appendix 1: L’Oréal’s History: A Timeline of Significant Dates 151Appendix 2: Timeline of L’Oréal’s Acquisitions and Strategies 153Appendix 3: A Selection of L’Oréal Brands by Category 2020 159Appendix 4: Global Beauty Industry Data 161Notes 167References 175Index 183