The account is currently split between Interpublic's Universal McCann and Publicis-owned ZenithOptimedia.
The move follows the recent consolidation of L'Oreal's U$70 million US media buying account into Universal McCann, also following a pitch against ZenithOptimedia. In India, ZenithOptimedia again lost out during a pitch process in July that saw Maxus clinch agency-of-record.
The brand works with Mindshare in Hong Kong where the agency managed to keep hold of the account following a statutory review and pitch against UM, ZenithOptimedia and Carat at the end of last year.
In the UK, ZenithOptimedia continues to handle L'Oreal's US$115 million media planning and buying account.
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 most admired companies in the world.
L'Oreal Australia could not be reached for comment at the time of publication