PARIS, France — L’Oréal’s Chairman and Chief Executive Jean-Paul Agon said on Tuesday he expected the cosmetic group’s nominations committee to propose a candidate to succeed him by the autumn as his mandate expires. Agon told a shareholder meeting that the board of the French group, which is behind brands including Garnier and Lancôme, had […]
How Successful Beauty Founders Are Managing the Crisis
LONDON, United Kingdom — For beauty entrepreneurs, the pandemic leaves little room for error. Without the support of well-capitalised conglomerates, most independent brands have a limited cash runway to work with while they navigate changing consumer sentiments, tricky marketing pivots and the widespread closure of crucial distributors like beauty salons and wholesale partners. The beauty […]
Gucci Just Left the Fashion Calendar Behind. Who Will Follow?
THE CHEAT SHEET Gucci to Go Seasonless, Show Twice Per Year Backstage at Gucci Autumn/Winter 2019 | Source: INDIGITAL.TV “I will abandon the worn-out ritual of seasonalities and shows to regain a new cadence,” wrote designer Alessandro Michele in a diary entry posted to Gucci’s Instagram The Italian megabrand is planning a virtual press […]
Coty to Sell Majority Stake in Hair Businesses to Investment Firm KKR in $4.3 Billion Deal
NEW YORK, United States — Cosmetics maker Coty Inc on Monday said it had agreed to sell a majority stake in its professional beauty and retail hair businesses, including Wella and Clairol brands, to investment firm KKR in a deal valued at $4.3 billion. Shares of the company rose about 11 percent in premarket trading. […]
'Revenge Buying' in China Won’t Save Luxury
SHANGHAI, China — The term “revenge buying” has become a hot topic in China as the country begins to emerge from the worst of its coronavirus outbreak. Since February, when much of China was under some form of quarantine measures, local social media platforms began filling with tales of real or imagined “revenge buying.” In general, […]