PARIS, France — L'Oréal, the world's largest cosmetics group, has offered to acquire Chinese skincare company Magic Holdings International for HK$6,538 million ($840 million).
Today, we bring you the first instalment of The China Edit, a weekly curation of the most important must-read fashion business news and analysis from and about the world’s largest luxury market.
LONDON, United Kingdom — The Savigny Luxury Index (‘SLI’) increased by almost 3 percent in November, while the MSCI World Index (‘MSCI’) slipped nearly 1 percent for the month. From mid-November, global markets and the SLI enjoyed a strong rally on better economic news from China and hopes that the US might avoid the feared fiscal cliff. Big news A flurry of positive economic newsflow has lifted investors’
In pursuit of beauty (The Economist) Nestlé, the Swiss food giant, may take over L’Oreal. From capitalism to communism (IHT) “From rampant capitalism to sober communism in a single year – that is the trajectory of menswear for the 2009/10 Paris season.” Proenza Schouler Stays The Course (WSJ) “While fashion labels have been trying to figure out what needs to be changed in order to survive this