Kellogg Team Bests Top Rivals
NEW YORK--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Apr 2, 2004--A team of three business students from Northwestern University`s Kellogg School of Management has beaten rival contenders from top business schools a cross the country, including some from Purdue, MIT, University of North Carolina and Stanford, all of whom competed in the fourth edition of L`Oreal`s e-Strat Challenge. The Kellogg team, (called Chabozu), emerged victorious in the MBA division of the competition and will travel to Paris to face-off against other MBA global finalists from the highest ranked universities around the world including countries such as Spain, Poland, Russia, Brazil, China and Singapore, in the final round of competition to be held on April 22nd.
''This is a tremendous achievement for Northwestern`s Kellogg School of Management,'' said Celica Thellier, Vice President, Corporate Strategic Recruitment & Career Development, L`Oreal USA. ''This year`s Challenge was particularly daunting and Kellogg beat some of the country`s best to make it to #1.''
The Challenge is a global online business simulation that gives student competitors a real opportunity to experience what it`s like to be at the helm of a global cosmetic business. Each team, comprised of three students, is taken through the paces and exposed to all of the different decisions that a general manager running a fast-paced business like L`Oreal, must make to be successful in today`s highly competitive, international business environment. ''The experience is as real as it gets,'' says Ms. Thellier. ''Students have to make decisions on advertising, formulation, product launches, distribution and production, all of the areas that impact their business''.
Students deal with the same challenges, pressures and rapid pace strategic thinking that make the pages of major business publications each day worldwide. In addition, students have the opportunity to interact with senior L`Oreal executives whose job it is to identify and recruit the next wave of business leaders at L`Oreal.
Now in its fourth year, the L`Oreal e-Strat Challenge has continued to evolve in size and sophistication, placing L`Oreal in touch with the best and brightest business students from around the world. This year was a record breaking year for the Challenge, attracting more than 30,000 applicants from over 100 countries and featuring both MBA and Undergraduate team competitions. The e-Strat community has continued to grow and now 57,000 students worldwide have actually signed up to play the e-Strat Challenge. In the last two years the company has hired 70 e-Straters from 32 different countries, making the Challenge an active recruitment tool.
This year, in addition to the online simulation portion of the e-Strat Challenge, teams had to develop a business plan that allowed them to demonstrate their abilities for written expression and strategy. At the international finals, communication skills and the power of persuasion will be key criteria, as the students present and defend their business plan before an executive board of directors comprised of senior L`Oreal personalities and key outside officials.
Final winners of both the MBA and Undergraduate divisions will be announced from Paris on the 22nd of April.
For more information on the competition log on to www.e-strat.loreal.com.
Note to Editors
L`Oreal is the world`s number one cosmetics company with an impressive portfolio of 17 international brands, sold in 140 countries, comprising L`Oreal Paris, Garnier, Laboratoires Vichy, La Roche-Posay, L`Oreal Professionnel, Lancome, Biotherm, SoftSheen-Carson, Maybelline, Matrix, Redken Fifth Avenue, Kiehl`s Since 1851, Shu Uemura, Helena Rubinstein, as well as Cacharel, Giorgio Armani Parfums and Cosmetics and Ralph Lauren Fragrances. The Group is also one of the world`s most successful businesses ever; having reported its 19th consecutive year of double-digit growth for 2003.
L`Oreal USA
L`Oreal USA`s 9 manufacturing plants, 10 distribution centers and 2 research and development facilities across the country and employs more than 8000 people and produces nearly 1billion units each year. Ninety-five percent of all products sold in the U.S. are made in the U.S.
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