Industry Today
The worldwide annual expenditures for cosmetics is estimated at U.S. $18 billion.[4] Of the major firms, the oldest and the largest is L'Oréal, which was founded by Eugene Schueller in 1909 as the French Harmless Hair Colouring Company (now owned by Liliane Bettencourt 26% and Nestlé 28%, with the remaining 46% are publicly traded). The market was developed in the USA during the 1910s by Elizabeth Arden, Helena Rubinstein, and Max Factor. These firms were joined by Revlon just before World War II and Estée Lauder just after.
Like most industry, cosmetic companies resist regulation by government agencies like the FDA, and have lobbied against this throughout the years.
source:Wikipedia
