Adbrands Weekly Update 28th Nov 2013:
L'Oreal promoted Marc Speichert, its Americas marketing chief, to the role of global chief marketing officer.
Adbrands Weekly Update
31st Oct 2013:
Beauty giant L'Oreal reported a dip in 3Q revenues, which also
slipped by just under 1% for the quarter to E5.5bn (or around $7.3bn), mainly as
a result of currency fluctuation. On a like-for-like basis, revenues were up 4%.
CEO Jean-Paul Agon said it had been "a pretty good quarter everywhere, in terms of regions and divisions,
except in one spot, which is the consumer division in the United States"
where retailers executed big cuts in inventory as a result of a slowing market.
Adbrands Weekly Update 5th Sep 2013: L'Oreal said it was on course to report a good, though not a great, year in 2013. Revenues for the first half were up almost 5% to E11.7bn, with net profits rising 5% to E1.7bn. Chairman & CEO Jean-Paul Agon refuted suggestions made by French business paper Les Echos that he
was preparing to buy back the minority stake in L'Oreal owned by Nestle, currently worth around E22bn, though he did point out that the beauty giant currently has more than E570m in cash in the bank. "We will see what the opportunities are to use it," he said."...I am confident there will be
Adbrands Weekly Update 22nd Aug 2013: L'Oreal strengthened its operations in China with a deal to acquire Magic Holdings, which markets a range of full-face cosmetic and cleansing masks under the MG brandname. L'Oreal will pay around $840m for the business, the equivalent of over four times last year's sales.
Adbrands Weekly Update 15th Aug 2013: Slipping sales at Procter & Gamble's mammoth beauty division prompted fashion trade bible WWD to relegate the group to third place in its annual Beauty 100 ranking, slipping behind the revitalised
Unilever. WWD estimated total beauty revenues of $20.08bn for P&G in calendar
2012, compared to $20.7 for Unilever. L'Oreal remains firmly at the top of the table with $28.9bn. Rounding out the top five were Estee Lauder and Shiseido, some way behind at $10bn and $8.4bn respectively.
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