“INNOVATION THROUGH DIVERSITY” IS NOVEL THEME OF L’ORÉAL USA–SPONSORED PRESENTATIONS BY STUDENTS GRADUATING FROM FIT’S COSMETICS AND FRAGRANCE MARKETING AND MANAGEMENT MASTERS PROGRAM
The 10th Anniversary of L’Oréal USA’s Office of Diversity and Inclusion Serves as Inspiration for FIT’s 2012 Capstone Theme
New York, NY (May 14, 2012) - The Fashion Institute of Technology’s Cosmetics and Fragrance Marketing and Management Program’s Master of Professional Studies (MPS) candidates will have their Capstone projects sponsored this year by L’Oréal USA. The sponsorship celebrates the 10th anniversary of L’Oréal USA’s Office of Diversity and Inclusion. Recognizing that diversity is a critical leadership imperative in the 21st century, FIT chose Innovation Through Diversity in the Beauty Industry as this year’s theme. This event will take place on Thursday, May 17, at FIT’s Katie Murphy Amphitheatre.
The 2012 graduating students in the Cosmetics and Fragrance Marketing and Management MPS Program will explore the topic of increased globalization and diversity as key business strategies in three presentations:
- Diversity and Global Leadership/Corporate Culture will look at the impact an increasingly diverse workforce and consumer population will have on leadership in global corporations, as well as on creating effective talent development and retention in global firms.
- Diversity and Global Marketing will explore how the principles of diversity and inclusion might be applied to create more innovative and successful global brands and global messaging to consumers, and how a more diverse corporate culture can contribute to more meaningful communication and consumer engagement.
- Diversity and Global Product Development will delve into how we might harness a true understanding of diverse cultures and shifting demographics to create more inspiring product concepts, and how these might better align with the values of an increasingly global and diverse consumer population.
“On the 10th anniversary of L’Oréal USA’s office of Diversity and Inclusion, we are proud to partner with FIT to highlight the importance of diversity as the theme for this year’s capstone presentations,” said Angela Guy, senior vice president of Diversity and Inclusion, L’Oréal USA. “The ability to build effective global brands is very much dependent on embracing and respecting various cultures, ethnicities, and age groups as well as different values and points of view, all of which are critical to the innovation and sustainability of global companies.”
“Diversity is a fact of life—a powerful source of enrichment, a vital tool in a competitive marketplace, and a cause for celebration,” said Dr. Joyce F. Brown, president, Fashion Institute of Technology. “It is a critical element in fulfilling FIT’s mission to prepare students with the global, open-minded perspective they will need for both professional and personal success.”
Creating global corporate cultures, brands, brand imagery, and concepts requires the ability to decode the diversity of cultures and learn from their differences. This is a necessity for those doing business on a worldwide scale. In order to be truly legitimate in countries around the world, companies must be able to quickly grasp various cultures, psychologies, consumption habits, and sensibilities. Currently, major areas of growth for consumer product companies can be found in emerging markets, including BRIC (Brazil, Russia, India, and China), countries where differing cultural values and habits have a direct impact on beauty. Changing demographics in mature markets also reflect a more diverse universe of consumers. Understanding these differences is an important challenge and has a direct effect on consumer messaging and product development.
About L’Oréal USA
L'Oréal USA, headquartered in New York City, with 2011 sales of $5 billion and 9,800 employees, is a wholly-owned subsidiary of L'Oréal SA, the world’s leading beauty company. In addition to corporate headquarters in New York, L'Oréal USA has research and innovation, manufacturing and distribution facilities across six other states including New Jersey, Kentucky, Arkansas, Illinois, Ohio, and Texas.
L'Oréal's impressive portfolio of brands includes Lancôme, Giorgio Armani Beauty, Yves Saint Laurent Beauté, Viktor & Rolf, Diesel, Cacharel, L'Oréal Paris, Garnier, Vichy, La Roche-Posay, L'Oréal Professionnel, Kérastase and Shu Uemura Art of Hair. The U.S. is the base for the product development, international marketing and advertising for L'Oréal’s twelve American brands: Maybelline New York, Soft-Sheen. Carson, Kiehl’s Since 1851, Ralph Lauren Fragrances, Essie Cosmetics, Redken 5th Avenue NYC, Matrix, Mizani, Pureology, SkinCeuticals and Dermablend. For more information, visit www.lorealusa.com. Follow us on Facebook at L’Oreal USA – Corporate Facebook Page and Twitter @LOrealUSACorp.
About the Fashion Institute of Technology (FIT)
The Fashion Institute of Technology’s Master of Professional Studies (MPS) in Cosmetics and Fragrance Marketing and Management program provides advanced education for outstanding mid-level professionals in the cosmetics and fragrance industries. The program was developed in collaboration with leading multinational corporations in the industry to prepare students for senior management positions.
The two-year program is designed for individuals working in cosmetics, fragrances, and related areas who have been recommended by their employers because of their strong management potential. In this program, students master the core skills of a business degree along with the creative and technical skills specific to the cosmetics and fragrance fields.
FIT is a leader in career education in art, design, business, and technology, with a wide range of programs that are affordable and relevant to today’s rapidly changing industries. A college of the State University of New York, FIT offers more than 45 majors leading to the AAS, BFA, BS, MA, MFA, and MPS degrees.