Garage Clothing Owner Rides Y2K Fashion to $5.3 Billion Fortune
Andrew Lutfy, CEO and majority owner of Groupe Dynamite, saw his net worth surge to $5.3 billion after a sharp rise in shares following the company’s 2024 IPO.
Clichy, France
Beauty
L’Oréal Names Nicolas Hieronimus as Next CEO
The 33-year L’Oréal veteran is currently deputy CEO and will take over on May 1.
L’Oréal Names Nicolas Hieronimus as Next CEO
The 33-year L’Oréal veteran is currently deputy CEO and will take over on May 1.
Beauty
L’Oréal to Close Some Stores, Cut 400 Jobs Amid Luxury Shift
The cosmetics maker's Luxe Division plans to shift investment to e-commerce over the next six months.
L’Oréal to Close Some Stores, Cut 400 Jobs Amid Luxury Shift
The cosmetics maker's Luxe Division plans to shift investment to e-commerce over the next six months.
Workplace & Talent
L’Oreal Is Set to Name New CEO Soon. Here’s a Shortlist
Current chief executive Jean-Paul Agon, who is stepping down next year when he turns 65, told Bloomberg that the cosmetics giant will announce his successor “pretty soon.”
L’Oreal Is Set to Name New CEO Soon. Here’s a Shortlist
Current chief executive Jean-Paul Agon, who is stepping down next year when he turns 65, told Bloomberg that the cosmetics giant will announce his successor “pretty soon.”
Beauty
L’Oréal Considers Cut to Ad Spend on TikTok Over Privacy Issues
The cosmetics company said it is 'monitoring the situation very closely' and that it will adjust its policy accordingly.
L’Oréal Considers Cut to Ad Spend on TikTok Over Privacy Issues
The cosmetics company said it is 'monitoring the situation very closely' and that it will adjust its policy accordingly.
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Beauty
L'Oréal Cancels 10.4% Dividend Increase
The beauty group will instead stick to the same payout per share it made in 2019.
L'Oréal Cancels 10.4% Dividend Increase
The beauty group will instead stick to the same payout per share it made in 2019.
Beauty
L'Oréal Banks on Post-Lockdown Rush to Hair Salons
The cosmetics company has so far seen a 4.8 percent fall in comparable first-quarter sales.
L'Oréal Banks on Post-Lockdown Rush to Hair Salons
The cosmetics company has so far seen a 4.8 percent fall in comparable first-quarter sales.
News & Analysis
Californian Start-Up Born in a Garage Beats L’Oréal in Patent Feud
After Olaplex accused L’Oréal of stealing trade secrets in 2015, the french beauty company may now face charges up to $91.3 million.
Californian Start-Up Born in a Garage Beats L’Oréal in Patent Feud
After Olaplex accused L’Oréal of stealing trade secrets in 2015, the french beauty company may now face charges up to $91.3 million.
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The News in Brief
Danone Acquires Protein Drinks Maker Huel in €1 Billion Deal
Huel, which counts actor Idris Elba and TV presenter Jonathan Ross among its investors, has agreed to be acquired by the French consumer goods group in a deal worth about $1.2 billion.
Qatar Investment Authority Eyes 10% Stake in Golden Goose
Qatar’s sovereign wealth fund is preparing to buy a stake in Italian sneaker maker Golden Goose, Corriere della Sera reported Saturday.
Retailers Push UK to Join US and EU Ending Shein Parcel Loophole
British retailers are pushing the UK government to end a tax loophole that has helped online giants Shein and Temu make significant inroads and gain market share.
Exclusive: Deciem to Relaunch The Chemistry Brand
The Estée Lauder-owned beauty company and The Ordinary parent will relaunch one of its original brands as it moves to rekindle its reputation for incubation.
De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.