The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — French cosmetics maker L'Oreal says its sales edged up 1.8 percent in the first three months of the year to 6.55 billion euros ($7.41 billion) as gains in its main markets in Western Europe and North America offset a decline in Latin America.
Shifts in currency values weighed on the reported value of the sales. Not counting exchange rate changes, sales were up a much stronger 4.6 percent.
Chairman and chief executive officer Jean-Paul Agon said in a statement Monday that the company "made a solid start in the first quarter" and that online sales had grown by a strong 35 percent.
Agon added he was confident that L'Oreal would perform better than the wider cosmetics market this year, and confirmed the company target to increase sales and profit.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.