The awards recognise “the extraordinary contribution made by Indian women in their respective fields”, according to the brand, with the categories drawn from across an array of fields, including sports, business, arts, social impact, education, science and innovation, and more.
“These awards are our small way to distinguish the achievements of such women who embody the spirit and values of the L’Oréal Paris brand. It is the ideal platform for us to salute them,” L'Oréal Paris India's vice president for marketing, Manashi Guha, explained.
The awards continue L'Oreal's efforts to establish a presence in India, as its hub within the wider Southeast Asia region.
L'Oreal in India
L'Oreal recently stated its aim of making India one of its top five markets in the next few years, and has already invested upwards of Rs 1,000 crore in developing its research facilities there, particularly in the segments of hair care and male grooming.
Its objective is to develop its trade in the country to the point that by 2020, its revenues will be up to Rs 7,000 crore.
While the multinational's market share is currently fairly limited to a small percentage in its target sectors, L'Oreal's investment into R&D and its focus on brand awareness through initiatives like the Women of Worth awards should stand it in good stead as it moves towards its targets in the country.
Driving brand awareness
The Women of Worth 2016 awards will be shown on national TV channel, NDTV, and a public vote will contribute to the selection of the winners - both of which will afford L'Oreal broad coverage throughout the process.
In February, one of the brand's celebrity ambassadors within the country, actress Sonam Kapoor, announced the awards’ launch, along with its categories and nominees. The winners are expected to be revealed in Mumbai in March.