L'Oréal - 2018 Registration Document
Corporate Governance RISK FACTORS AND CONTROL ENVIRONMENT
RISKS TO WHICH THE GROUP BELIEVES IT IS EXPOSED:
Image and reputation
128
Product quality and safety
128
Responsible communication
128
2
Seasonal nature of business
129
Geographic presence and economic and political environment
129
Distribution network
129
Competition
129
Business risks
Innovation and consumer expectations
130
External growth transactions
130
Risks related to Human Resources management
130
Safety and Security
131
Employee health and safety
131
Information systems
132
Data
132
Risk of an Internal Control failure
132
Intellectual property: trademarks, designs & models, domain names
133
Industrial property: patents
133
Legal risks
Regulatory changes
134
Other legal risks and litigation
134
Production and supply chain
135
Industrial and environmental risks
Sourcing
135
Environment and safety
136
Counterparty risk
136
Customer risk
137
Liquidity risk
137
Interest rate risk
138
Currency risk
138
Risk relating to the impairment of intangible assets
138
Financial and market risks
Shareholding risk
138
Risk with regard to assets financing employee benefit commitments (plan assets)
139
Risk relating to changes in tax regulations
139
Core commodity risk
139
The Group’s overall insurance policy Integrated worldwide programmes
140 140
Insurance
REGISTRATION DOCUMENT / L'ORÉAL 2018
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