“Going through a crisis makes us stronger together,” says Rinderknech.
Stéphane Rinderknech is a man of many metaphors, and the jigsaw puzzle is one of his favorites. For him, the act of reconstructing a thousand little pieces into a single cohesive image represents the complexity of running — and building — a business.
Rinderknech assumed his role officially on Jan. 1, 2020, but has been in the U.S. since September, traveling across the country and assembling his vision for the future. A lot depends on Rinderknech being able to fit together the many disparate elements of the North American beauty scene — not least of all which is to help restore L’Oréal to significant growth in a market that had stagnated even before the coronavirus crisis.If anyone seems up for the challenge, it is Rinderknech.
“Going through a crisis makes us stronger together,” says Rinderknech, of the company’s 11,000-strong workforce. “Sharing this experience makes us so much closer. I see everyone’s homes, their dogs, their kids. This would never happen in a normal context. “Stéphane is one of the most energetic men I have ever met, and he always keeps pushing in order to achieve his goals,” says Agon.
“There is going to be an acceleration of the digital transformation, an acceleration within the acceleration,” says Rinderknech. “What we are going to learn is to adjust the content, build the capability, bring the consumer experience.” “The market is not growing that quickly, for sure,” says Rinderknech. “But I think anybody in this market can grow very, very fast. There are different forces, different changes, different habits, and we have a responsibility to find the dynamism in the market by putting the right innovations, right quality, service, experience and products that can perfectly fulfill the demands and desires of consumers, which are changing.
Three years later, he moved to Japan, first as head of Biotherm and then was quickly promoted to run Lancôme, a brand he revitalized in that market. In 2008, he was named head of L’Oréal Luxe in South Korea, where he launched Kiehl’s and helped propel it to the number-one skin-care brand in the market. In 2011, he moved to China, first as general manager of the Luxe division, then as head of the Consumer Products Division, and finally, in 2016, he was named ceo of L’Oréal China.
L’Oréal’s top brass hope he can have the same impact here. “You’ve got the two biggest economies in the world and the two leading countries in terms of digital,” says Nicolas Hieronimus, deputy chief executive officer. “The ability to learn from one another is very important and Stéphane will definitely help our U.S. business benefit from some of the best practices and learnings that he got from a fast accelerating Chinese digital world.
As for his “aha” moment that weekend? “I think our new products are amazing, but sometimes not visible enough or educational enough for consumers,” Rinderknech says. “Consumers want to be informed. How do you tell them about the ingredients, the routine? We have a tremendous opportunity to educate them.”
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