Speaker 1: This is Bloomberg Business Week with Carol Messer and Bloomberg
Speaker 1: Quick Takes Tim Stinovic on Bloomberg Radio. So Loyal Paris
Speaker 1: has been highlighting remarkable and inspiring women through its Women
Speaker 1: of Worth program. Let's find out a little bit more
Speaker 1: about it. Lucky to have with us Ali Goldstein. She's
Speaker 1: Loreal Paris USA President and she's joining Tim and me
Speaker 1: in our Bloomberg Interactive Broker's studio. First of all, so
Speaker 1: great to have you here. How are you good? Thank
Speaker 1: you Carol and Tim for having me. It's a pleasure
Speaker 1: to be here to talk about this program. And it's
Speaker 1: been going on for several years. Remind our audience what
Speaker 1: it's all about. So this is the sixteenth year that
Speaker 1: we are doing this program, so it's been quite a
Speaker 1: long time. So this is the program is called the
Speaker 1: Loyal Paris Women of Worth Program. It's our signature philanthropic
Speaker 1: event where we recognize extraordinary women who are doing things
Speaker 1: in their communities, giving back and helping those that are
Speaker 1: less fortunate. Um and and it's often women who have
Speaker 1: gone through some incredible tragedies. For the majority of the women,
Speaker 1: their causes and these are causes and foundations that they
Speaker 1: create their nonprofit organizations, and for many of them, they
Speaker 1: come from personal stories, so tragedies or problems that they
Speaker 1: or their family have experience have experienced, and that becomes
Speaker 1: the root of creating a program to give back to
Speaker 1: others and helping people like them to get through these
Speaker 1: sometimes terrible events. How does the selection process go? So
Speaker 1: the way it works is at the beginning of each year,
Speaker 1: we do a call for nominations, so we invite the
Speaker 1: public to nominate. Women can nominate themselves, or women can
Speaker 1: nominate people can nominate other women. We have an application
Speaker 1: process that's available through our website. This year we received
Speaker 1: over almost two thousand applications, so we get quite a
Speaker 1: range of of applications, and then we invite our employees
Speaker 1: and our partners that we work with to go through
Speaker 1: those applications and then we narrow them down to a
Speaker 1: short list of you know, a smaller set. Then we
Speaker 1: have a panel of judges of which I'm part of.
Speaker 1: It Prior honorees are part of it UM industry leaders
Speaker 1: that we work with that Lorial Paris works with. So
Speaker 1: there's about ten of us who vet through the finalists,
Speaker 1: if you will, and we select the final ten honorees,
Speaker 1: so each year it's ten honorees. So because it's sixteen
Speaker 1: years and we're now up to a hundred and sixty
Speaker 1: women that we recognized UM in the last sixteen years,
Speaker 1: and they're pretty fantastic women well and full transparency pre
Speaker 1: pandemic I I got. I was honored to be involved
Speaker 1: with it and was able to present UM for a
Speaker 1: couple of the dinners that you used to do to
Speaker 1: honor these women. But what really struck me is that
Speaker 1: these were individuals, as you said, like tragedy or something
Speaker 1: happened in their lives and they were able to turn
Speaker 1: that tragedy into awareness and to helping others. Give us
Speaker 1: an idea of some of the women. There's Brianna, There's Natalie,
Speaker 1: like and and some of their causes. So this year,
Speaker 1: the range of causes is quite diverse, and we actually
Speaker 1: look for a diverse range of philanthropies that they work.
Speaker 1: So this year UM, some of the things that we
Speaker 1: some of the women we recognize, for example, a woman
Speaker 1: named Natalie Wilson who leads an organization called Black and Missing,
Speaker 1: the Black the Black and Missing Foundation, and and it's
Speaker 1: she helps bring awareness to locate missing Black women UM,
Speaker 1: and what we have understood is that black women who
Speaker 1: have gone missing UM have a much lower likelihood of
Speaker 1: being found because of how the structure of our country works.
Speaker 1: And so she brings awareness. So she uses social media
Speaker 1: to get out awareness and help UM find these missing individuals.
Speaker 1: So that's one organization. We have another organization called Sore
Speaker 1: Overheat or so We're over Hate. A woman named Nancy
Speaker 1: Tran has founded that and that organization is helping UM
Speaker 1: older Asian Americans UM protect themselves against xenophobia and we
Speaker 1: know that's become so prevalent through covid A specially UM.
Speaker 1: So there's quite a range. We're dealing with issues. Some
Speaker 1: are dealing with issues of mental health among teenage teenagers.
Speaker 1: A woman who started that organization her son unfortunately committed suicide,
Speaker 1: so now she's helping UM other families who are facing
Speaker 1: that that issue. UM. We have causes ranging from cancer, support,
Speaker 1: food insecurity. So it's quite a range UM, and we
Speaker 1: look for a diversity, and I feel like it's like
Speaker 1: so many of the issues that we've some of them
Speaker 1: that we've talked about, certainly over the year UM and
Speaker 1: certainly under the pandemic. Tim was noticing that you've been
Speaker 1: at Loreal a long time. So this is my twentieth
Speaker 1: anniversary with Loreal. I started my career following business school
Speaker 1: with Loreal, and I've been there the whole time, twenty years. Um,
Speaker 1: grown up through the marketing ranks. Um, what's your first
Speaker 1: job there? My first job was assistant brand manager on
Speaker 1: Preference Hair Color, which is actually so it's actually very
Speaker 1: infamous that it's that because Preference Hair Color is the
Speaker 1: brand that started the tagline because You're worth it. So
Speaker 1: it's really very emotional for me to have started there
Speaker 1: and now twenty years later to be leading this business. Well,
Speaker 1: it's so interesting to look at the experience you've had
Speaker 1: because you were also part of Florial, Paris Facial Skincare,
Speaker 1: Mabeling Garnier. Then you were part of the consumer products
Speaker 1: division and New Ventures. And I'm wondering what you would
Speaker 1: say to to somebody who's early in their career, perhaps
Speaker 1: just graduating from business school right now, and they see
Speaker 1: a company they want to spend their career with. How
Speaker 1: do they work their way up? Yeah? So I think
Speaker 1: for me, and people ask me this all the time,
Speaker 1: how how are you still here, and I think clearly
Speaker 1: they're sort of the fundamental It's hard work, you know,
Speaker 1: build your relationships, um be collaborative, listen. I think a
Speaker 1: lot of it is have some humility and be flexible
Speaker 1: so the path that you think you're going to take
Speaker 1: is never the one that actually happens. And be open
Speaker 1: to ideas. You know. One of the reasons why I've
Speaker 1: stayed at Loreal is because every time I sort of
Speaker 1: was board or I had plateau, there was always a
Speaker 1: new opportunity, which is why I was able to move
Speaker 1: around and work on different businesses and take more responsibility.
Speaker 1: But it was never what I thought it was going
Speaker 1: to be. It was like you had to have a
Speaker 1: leap of faith a little bit and trust the organization
Speaker 1: and sort of be flexible, be open to try new
Speaker 1: things and and see where it goes. So each each
Speaker 1: move was almost like a new having a new opportunity
Speaker 1: at a new company within the security of a big organization.
Speaker 1: It almost has like an entrepreneurial nature that you're able
Speaker 1: to try something new, sit tight. We're gonna come back
Speaker 1: and talk more with Ali Goldstein, President of Loreal, Paris, USA.
Speaker 1: This is Bloomberg. I want to get back to Ali Goldstein.
Speaker 1: She's Loreal Paris USA President. She's here in our Interactive
Speaker 1: Broker studio. We've been talking about, uh, the Women of
Speaker 1: Worth program. As you say, it must be hard to
Speaker 1: select because you have to whittle it down to ten
Speaker 1: because so many of these causes, whether it's education, whether
Speaker 1: it's um, food, insecurities. I mean, they are all dealing
Speaker 1: with such important issues. Yeah, and it is hard, and
Speaker 1: we so we spend a few we we spend hours actually,
Speaker 1: you know, vetting the women. We read all of their bios,
Speaker 1: We look at websites, We really investigate and do our
Speaker 1: research to understand and we try to measure the impact
Speaker 1: they're having. We look, you know, it's it's it's also
Speaker 1: it's what are the women doing, What are the impact
Speaker 1: that they're having. How do we ensure we have a
Speaker 1: diverse range of causes. We also look for diversity of
Speaker 1: the women themselves, you know, age, ethnicity, geography, to make
Speaker 1: sure that we can recognize arrange because we have so
Speaker 1: many consumers and we have so many employees, and everyone's
Speaker 1: passionate about a different thing, and so that's also part
Speaker 1: of it is you know, I guess you could say,
Speaker 1: as a as a company, Laureal Paris had a choice
Speaker 1: do we stand for one cause or do we find
Speaker 1: a way to reach many people across different causes, and
Speaker 1: we chose the latter route, which we're pretty proud of.
Speaker 1: You bring together extraordinary women from all over the country
Speaker 1: each and every year, and I'm wondering how they're able
Speaker 1: to use this as a way to network with people
Speaker 1: who have had similar experiences, people who run similar organizations,
Speaker 1: and then they take that experience and then move on
Speaker 1: and create this network that that last year's absolutely so
Speaker 1: the way it works is as Loreale Paris, we try
Speaker 1: to provide more than just a financial reward for these women,
Speaker 1: So we actually as a company bring our resources as
Speaker 1: a company to give them education and mentorship. And we
Speaker 1: also we like to keep the alumni of the program
Speaker 1: as a network. So it's not one and done. It's
Speaker 1: these women. These hundred and sixty women are now part
Speaker 1: of this very special group called the Women of Worth,
Speaker 1: and we try to keep in touch with them and
Speaker 1: and see how they're doing throughout as the years progress
Speaker 1: and partner women with similar types of causes, because some
Speaker 1: are more advanced in their in their philanthropies, some are
Speaker 1: just starting and they can learn from each other. So
Speaker 1: each year we also do an educational summit where we
Speaker 1: bring the current years honorees together and we we provide education,
Speaker 1: but we also bring back some of our alumni as
Speaker 1: well and provide support. So it's it's much more than dollars.
Speaker 1: It's also lots of networking. As you said, education, UM,
Speaker 1: and of course awareness. What what's the impact of the
Speaker 1: platform that you give these individuals and all of the
Speaker 1: women over the last what fifteen sixteen years? What's been
Speaker 1: the result of you know, their connection with you and
Speaker 1: the platform that you provide them. And I know you
Speaker 1: guys have now you now do a program, a television program.
Speaker 1: Tell us a little bit about that. So UM last
Speaker 1: year we shifted how we brought awareness to these women.
Speaker 1: UM partly was linked to COVID, but in the end
Speaker 1: we feel it was absolutely the right thing to do
Speaker 1: UM and we really wanted to bring some scale and
Speaker 1: broad awareness to these fantastic women. So we partnered with
Speaker 1: NBC to create a one hour primetime TV spec where
Speaker 1: we worked with our Loreal Paris spokespeople UM to interview
Speaker 1: the women and showcase what they do in their communities.
Speaker 1: We brought film crews to their community so they could
Speaker 1: see the people that they were impacting and really showcase
Speaker 1: their work. UM. So that was last year was the
Speaker 1: first year we're doing it. We're super excited that we're
Speaker 1: doing it again this year. So if I could plug
Speaker 1: the show this year is UM will be aired on
Speaker 1: December sixteen, eight o'clock on NBC. If if you like
Speaker 1: to watch it, I encourage whoever is interested to to
Speaker 1: UM tune in. It's a fantastic program. And this year
Speaker 1: actually we were able to bring all of the honorees
Speaker 1: to Paris UM to film the show in the heart
Speaker 1: of the city where a Loreal Paris was founded. So
Speaker 1: what a special experience for the women UM and they
Speaker 1: were able to meet our spokespeople and have a very
Speaker 1: special experience UM you know from Loreal Paris. So they
Speaker 1: were able to meet each other and that work and
Speaker 1: have this special trip to Paris. We filmed the show
Speaker 1: and now it's it's all being put together, so it's
Speaker 1: pretty fantastic. But it's really about bringing awareness to the
Speaker 1: women and their causes and giving them a national stage
Speaker 1: UM and and in the past for some of these
Speaker 1: women they've really gone on to do amazing things or
Speaker 1: their causes. We've had one woman received a Nobel Peace Prize.
Speaker 1: We've had two women received presidential medals. We've had women
Speaker 1: go and and and and work with their senators to
Speaker 1: create legislation through Congress. So we think we have a
Speaker 1: pretty good track record. The women have really done some
Speaker 1: outstanding things well. And it's interesting too, and you talk
Speaker 1: about I know some of these causes, right, I mean,
Speaker 1: women have have gone on to raise lots of money
Speaker 1: for their cause and really whether it's you know, cancer
Speaker 1: progress with kids and sons of like, it's really remarkable.
Speaker 1: And as you say, like there's a lot of things.
Speaker 1: Sometimes you think there's attention or time spent on something,
Speaker 1: but there's no payoff. It's really wonderful to see that
Speaker 1: by raising these women up and giving them the platform
Speaker 1: connected with you guys, that they're able to then make
Speaker 1: some significant in rows. Let's have some and this for
Speaker 1: us is really important. So over the last sixteen years,
Speaker 1: we've we've contributed over two million dollars towards these women's organizations.
Speaker 1: This year we actually decided to double the investment because
Speaker 1: we believe it's that important. So um. So historically we've
Speaker 1: given it's not a huge amount of Each year we've
Speaker 1: given each woman ten thousand dollars. This year we've doubled
Speaker 1: it to twenty dollars. The National honor we had another
Speaker 1: two dollars, and hopefully with the spotlight of the NBC
Speaker 1: special will have support from consumers as well and others. Okay,
Speaker 1: so don't judge me, but I'd be like killed by
Speaker 1: my producers to have you in here and not ask
Speaker 1: about kind of the environment. Okay, how is like the world? Like,
Speaker 1: how do you see the world right now? Like we're
Speaker 1: we have lots of like volatility within the markets and
Speaker 1: so on and and so forth. Does it feel right now?
Speaker 1: So it's still very volatile right every day? Who knows
Speaker 1: what we're going to face. Um, But I'm I'm optimistic,
Speaker 1: you know, within the beauty industry, we're optimistic. It's the
Speaker 1: holiday season. People are back using makeup, buying makeup. We
Speaker 1: just went through, you know, the Thanksgiving weekends. People are shopping, um,
Speaker 1: which isn't very encouraging. And I'm optimistic that people are
Speaker 1: seeing the light at the end of the tunnel tunnel
Speaker 1: whatever that light. Maybe it's a it's a new normal
Speaker 1: that we don't know yet, um, but I'm optimistic that
Speaker 1: things are getting better at least week. Can we see
Speaker 1: our consumers wanting to get back to some normal life. Um.
Speaker 1: And so it's it's volatile, as I said, every day
Speaker 1: can be challenging, lots of issues of course that we're
Speaker 1: all facing. Um, But but we are excited and our
Speaker 1: offices are open and we're happy to be back engaging
Speaker 1: with people live. When does this special again? And December
Speaker 1: eight pm? Alright, good. These are remarkable women. Take my
Speaker 1: word for it, take Allie's word really for it, um,
Speaker 1: because it's been year after year of them doing incredible stuff.
Speaker 1: Thank you so much. Ali Goldstein, she's president of Lorial
Speaker 1: Paris USA, talking about their Women of Worth program,