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The case discusses in detail the brand management strategies of the global cosmetics industry leader, L''Oreal, over the years. L''Oreal''s brand portfolio included brands from different cultural backgrounds like Europe, America and Asia. The case explores L''Oreal''s expansion of its business through the acquisition, makeover and worldwide marketing of relatively unknown brands from different countries. In addition, the case takes a look at the way in which the company consciously worked towards straddling all the segments of the cosmetics business and building successful brands in each of these segments. The case is designed to help students analyse and understand L''Oreal''s brand management strategies. Through the case, students should develop a general understanding of: (1) the brand management strategies of a large cosmetics company with a global presence and a large portfolio of brands; (2) the rationale for acquiring culturally diverse brands and marketing them to consumers with differing cultural backgrounds; (3) the rationale for encouraging competition among different brands owned by a company; and (4) the strategic decisions that a company needs to take when transforming itself from a relatively unknown brand into a globally popular brand. The case is targeted at PGDBA students as part of the marketing curriculum. The teaching note does not contain an analysis of the case.