L’Oréal pursues its commitment to build sustainable and responsible relationships with its suppliers. On February 11 2010, L’Oréal Group signed the Charter of the Credit Mediation with 19 other Large Companies.
On February 11 2010, about 20 Large French Companies together signed the Charter of Good Practices between Key Accounts and Suppliers. L’Oréal was one of these large companies that were involved from the beginning of the initiative and signed the Charter.
This event was organized by the "Médiation du Crédit aux Entreprises" (French governmental Organization) et de la "Compagnie des Dirigeants et Acheteurs de France" (French Purchaser Association) and was sponsored by Mrs. Christine Lagarde, the French Minister of Economy, Industry and Employment.
Named "10 commitments for Responsible Purchasing", the Charter aims to demonstrate the commitment of the signatory companies to respect Good Purchasing Practices, especially as they relate to Small and Medium Enterprises.
These practices are fully aligned to L’Oréal’s values and commitment to its suppliers: mutual respect, long-term relationships based on objective criteria and relationships with a broad diversity of suppliers.