International cosmetics giant L'Oreal has announced it is ploughing £1.8m into setting up a key marketing relationship with the Said Business School.

The money will be used to set up a permanent chair in marketing with a specialist professor being appointed.

The aim is to bring an added dimension to the research and teaching of marketing disciplines at the Oxford University school for both MBA Students and undergraduates.

Students are likely to benefit from placements and will be well placed when the company is looking for fresh talent for its marketing department.

Business school director Prof Anthony Hopwood said: "L'Oral is widely recognised as a leading company in the area of consumer marketing. Such a combination of practical and academic expertise will enable us to provide a knowledge base for the development of new practice and understanding of marketing."

L'Oral chairman and chief executive Lindsay Owen-Jones said: "We have enjoyed consecutive double-digit growth for almost two decades through the excellence of our people, our research and our marketing innovation.

"The creation of the chair in marketing provides us, as well as other companies, with a great opportunity for reaching the best international talent to help sustain this track record into the future."

L'Oral has a total workforce of 50,000 people, from 86 different nationalities, spread across 130 countries.