The Success Story of L’Oreal Heiress & family
François Bettencourt Meyers is a French novelist and board member of the personal care company L’Oréal SA. Head of Bettencourt Schueller Foundation, a family foundation that has a net worth of approximately $700 million. François Bettencourt Meyers (L’Oreal heiress) is the richest woman in the world, but her life hasn’t been easy.
François Bettencourt Meyers
|Net Worth:||$66.3 Billion|
|Born:||July 10, 1953|
|Country of Origin:||France|
|Source of Wealth:||Heiress to L’Oreal fortune|
Françoise Bettencourt Meyers is among the world’s wealthiest women. She is also the president of the Bettencourt Schuller Foundation (which aims to contribute to a better French society and boost France’s influence on the international stage), which she founded with her family. Françoise Bettencourt Meyers’ net worth is expected to be $66.3 billion in 2022, making her one of the world’s richest women.
Eugene Schueller was a young French chemist who developed a hair dye formula called Oréale. He sold it to hairdressers in Paris, along with other products he created. He founded the Société Française de Teintures Inoffensives pour Cheveux in July 1919, which in English means Safe Hair Dye Company of France. Eventually, he changed the name of his firm to L’Oréal.
L’Oréal has expanded into various areas of the beauty industry. Hair colour, cosmetics, body and skin care, cleansers, and fragrances are among the company’s more than 500 brands and thousands of items. L’Oréal has six R&D facilities across the world: two in France, one in the United States, one in Japan, one in China, and one in India. A second proposed facility in the United States is now being developed. L’Oréal is the world’s largest and most successful cosmetics company.
Françoise Bettencourt Meyers was born in Neuilly-sur-Seine, France, on July 10, 1953. She is the only child of Liliane Bettencourt, a multimillionaire entrepreneur, and André Bettencourt, a French politician. François Bettencourt Meyers married Jean-Pierre Meyers, the grandson of a rabbi who had died at Auschwitz. After the wedding, Meyers decided to bring up her children in the Jewish faith. Their marriage caused controversy as a result of the trial of their grandfather, L’Oréal founder Eugene Schueller, for association with the Nazi government.
Some Interesting Facts
- Francoise Bettencourt Meyers is the world’s richest woman and the granddaughter of L’Oreal’s founder.
- Bettencourt Meyers and her family own around 33% of L’Oreal shares.
- She has been a member of the L’Oreal board of directors since 1997 and is also the chairperson of the family holding business.
- She became the L’Oreal heir to the reign of France in 2017 when her mother, Lillian Bettencourt, who was then the world’s richest woman, died at the age of 94.
- Françoise Bettencourt Meyers married French businessman Jean-Pierre Meyers in 1984, and the couple has two children: Jean-Victor, 35, and Nicolas Meyers, 32.
- Françoise Bettencourt Meyers married a Jewish man and chose to raise their children as Jews, despite her Catholic upbringing. She is known for writing religious commentaries comparing Catholic and Jewish scriptures.
- Françoise Bettencourt Meyers filed a lawsuit against her mother in a fight over money management during the last years of her mother’s life, especially when she thought her mother was suffering from dementia (which affects the ability to think, remember and behave normally).
- Françoise Bettencourt Meyers administers the family’s charitable foundation, which promotes French science and the arts, in addition to chairing L’Oréal.
- While Françoise Bettencourt Meyers only inherited $39.5 billion from her mother in 2017, she has managed to boost her wealth that her current net worth approaches $86.2 billion, as of July 2021.
About L’Oreal’s Growth in India
The company has been in India for nearly three decades. It first set up offices here in 1994. According to the company, 90 percent of its product line is now sourced and manufactured locally at its plants in Pune and Baddi. In several product areas, it competes with companies like Procter & Gamble and Unilever.
Lancôme, Maybelline, NYX Cosmetics, Garnier, Matrix Essentials, and other brands are among the company’s global subsidiaries.
India’s cosmetics industry was worth roughly $11.16 billion in 2017, according to Goldstein Market Intelligence, and is expected to rise at a CAGR of 5.91 percent through 2030. It predicts annual retail sales of cosmetics and other personal care goods to expand by 15-20% annually, with domestic demand in India being one of the fastest-growing in the globe. It further said that total demand has increased by 60% since 2015.
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