Plastic Economy @ Largest Cosmetic Brand
The world’s largest cosmetic company, L'Oréal is hosting Brainstorm 2020 and inviting students to accept the challenge to create an innovation that reduces/eliminates the use of plastic by inventing new circular business solutions. Learn more about the challenge here!
About L’Oréal Group and Ellen MacArthur Foundation:
L'Oréal S.A. is a French personal care company headquartered in France. It is the world's largest cosmetics company. For more than a century, L'Oréal has devoted our energy and our competencies solely to one business: beauty. It has chosen to offer our expertise in the service of women and men worldwide, meeting the infinite diversity of their beauty desires. L'Oréal is committed to fulfilling this mission ethically and responsibly.
The Ellen MacArthur Foundation was established in 2010 with the aim of accelerating the transition to the circular economy. Since its creation the charity has emerged as a global thought leader, establishing the circular economy on the agenda of decision-makers across business, government, and academia. With the support of its Core Philanthropic Funder, SUN, and Knowledge Partners (Arup, IDEO, and SYSTEMIQ), the Foundation’s work focuses on five interlinking areas: education, business and government, insight and analysis, systematic initiatives, and communications.
Our planet is currently facing increasing environmental threats, with waste disposal being one of the severe issues.
Studies have shown that on average, 50% of the environmental footprint of a product is linked to its packaging. This is why plastic, which represents close to 60% of the material used by the L’Oréal Group to produce its packaging (104,000 Tons in 2018), proves to be a major issue for L’Oréal.
The L’Oréal Consumer Products Division, company’s biggest business unit, consumes around 81,000 Tons of plastic per year. Although this number is marginal in comparison to global plastic consumption, we know that we can do better. In 2018, The L’Oréal Group has joined the Ellen Mac Arthur “New Plastic Economy” Alliance as a core-member (we worked with EMA for several years), committing to enter a circular economy model. The key goal is to reach 100% recyclable, reusable or compostable plastic packaging by 2025.
How to enter the challenge:
Build an amazing team of 3 superheroes to solve the mission.
Come up with the most innovative idea, sharpen it throughout the selection process and become the champion of your country.
Fly to Paris, immerse yourself at L’Oréal’s headquarters and pitch your innovation to top L’Oréal executives.
L’Oréal will pay for the top team of each country to fly to the World Finals in Paris, France. Each team will present their innovation to top L’Oréal executives. The winning team will be chosen based on the following criteria: innovation, usefulness, feasibility, scalability.
The winning team will get the opportunity to work at Station F, the largest startup campus in the world, and at L’Oréal as L’Oréal employees. There will be a deadline to begin the program before October 1st 2020.
Winners will become the pioneers of their Brandstorm idea and transform it into a real business model. Over a period of 3 months, they will boost their idea with the constant coaching and guidance from L’Oréal experts and finally defend their business model to top executives and internal investors.
Additionally, winners will gain the opportunity to participate in One Young World summit: A global forum for young leaders and a unique platform to network with other young individuals from every country and sector, sharing ideas to develop solutions to address urgent global issues and create positive change.
*This challenge is limited to undergraduate and graduate students in participating countries.
Location: Challenge remote. Winning teams are flown to Paris.
Deadline: December 1
APPLY HERE and let them know that Next Gen sent you!