L’Oréal Paris has experienced the makeup comeback.
“Makeup is definitely having a resurgence. It’s no surprise. People are going out more, so they’re back into needing to dress up,” said Ali Goldstein, L’Oréal Paris USA’s brand president, in an interview with Glossy at the brand’s annual Women of Worth event on December 1.
When asked about the state of the beauty market amid recession talk, Goldstein said, “L’Oréal is a very well diversified company. We sell around the world, plus we have products that cost $10 and products that cost $100. That allows us to meet the needs of all kinds of consumers, and it helps us manage through whatever kind of economic market we’re in.”
Regarding the “lipstick effect” concept that consumers invest more in makeup during a recession, she added, “Historically, when there’s a recession, we see women maybe save a little bit and buy some of the less expensive products. At the same time, women will actually buy that one splurge luxury product. I don’t know what is going to happen. But our broad portfolio allows us to have options to meet whoever she or he is wherever they are in their economic situation.”
This year’s Women of Worth ceremony marked the 17-year-old event’s first full in-person return since the pandemic began, after L’Oréal held special tapings for it over the last two years. The event featured appearances by L’Oréal celebrity brand ambassadors Helen Mirren, Camila Cabello, H.E.R., Aja Naomi King, Katherine Langford and Jaha Dukureh. It also honored 10 nonprofit founders selected by L’Oréal Paris to receive a $20,000 grant for their organization. The program was featured on NBC last year and will be highlighted on HBO Max this year.
Discussing the Women of Worth program, Goldstein said that the areas of focus for founders being honored have changed to reflect current pressing issues over the past nearly two decades.
“There are trends, in terms of themes of what people are dealing with,” she said. “We saw an increase in applications around three main causes,” including America’s mental health crisis, socioeconomic issues and children in crisis.
For mental health, Covid was a heavy factor in submissions this year, with the organization Operation Happy Nurse, which provides support for nurses’ mental health, among those honored.
On socioeconomic issues, “We’re seeing a [large focus] on challenges around employment and getting back to work,” said Goldstein. Honoree Susan Burton was selected for her organization A New Way of Life, which helps formerly incarcerated people re-enter world and find employment and housing.
At the end of the night, one honoree — Susie Vybiral of the organization Room Redux, which redesigns the bedrooms of abused children — was awarded the 2022 National Honoree award for an additional $25,000.
