The account is currently split between Interpublic's Universal McCann and Publicis-owned ZenithOptimedia and the move follows the recent consolidation of L’Oreal’s $70m (£44.7m) US media buying account into Universal McCann, also following a pitch against ZenithOptimedia. US media planning was not part of the review.
L'Oreal's £74 million UK media planning and buying account is currently handled by ZenithOptimedia.
In addition to the main L'Oreal Paris brand, L'Oreal also owns the Maybelline and Garnier brands. This year, Fortune magazine named L’Oreal as the only French company to be rated in its top 50 list of the "World's Most Admired Companies".
L’Oreal Australia could not be reached for comment at the time of publication.