Welcome to the shareholders' magazine To share the L’Oréal adventure from every angle

SHAREHOLDER PORTRAIT An interview with Amélie Fournier Amélie Fournier, L’Oréal shareholder and member of the Individual Shareholder Consultation Committee

RESEARCH AND INNOVATION Visionnaire by Lancôme The first advanced skin corrector

SHAREHOLDER PORTRAIT Actionaria 2011 : 5 reasons to take part in the L'Oréal adventure For the 8th consecutive year, the L’Oréal financial communications team participated in this unique event in Paris.

BEAUTY PLANET L’Oréal’s worldwide performances In 2011, the group made significant progress in North America, particularly in the United States, and continued its New Markets conquest, with Asia and Latin America leading the way

SUCCESS STORY How The Body Shop cultivates its difference In 2011, TBS accelerated and prepared for the future

RESPONSABILITY Giving solidarity sourcing its place Started up in 2010 in the Purchasing Department, the Solidarity Sourcing programme forged ahead in 2011, and already includes around a hundred initiatives in more than 40 countries.

RESPONSIBILITY The rise of the Green Academies Madrid, Santiago de Chile and Strasbourg in 2011, soon to be followed by Brussels and Hamburg: the number of Green Academies is rising fast

BEAUTY PLANET Beauty for all pushes back frontiers Spearheading the quest to conquer a further billion consumers, the Consumer Products Division is winning over new markets and consumers.

BEAUTY ROOM L'Oréal Paris Elvive Triple Resist shampoo Enriched in Arginine, the 3 in 1 reinforces, nourishes and leaves hair feeling stronger