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☆ L'Oreal tells workers to come to the office on Fridays twice a month
▼ + stars: | 2024-02-05 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

L'Oreal wants staff globally to work in the office on Fridays at least twice a month. The beauty company currently requires employees to work in the office three days a week. AdvertisementCosmetics giant L'Oreal has told employees to come to the office at least two Fridays a month to tackle diminishing attendance at the end of the week, The Times reported Sunday . L'Oreal employees are currently expected to be in the office three days a week. The company's CEO Nicolas Hieronimus recently reaffirmed the company's firm stance on in-person working while speaking at the World Economic Forum in Davos last month.

Persons: —, Rinderknech, Nicolas Hieronimus Organizations: L'Oreal, Service, Times, Business, Economic, LinkedIn Locations: Davos

☆ Many remote employees have 'no attachment' to their work, and no passion or creativity, the CEO of cosmetics giant L'Oreal says
▼ + stars: | 2024-01-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Read previewL'Oreal's CEO had some harsh words for remote workers , saying they lack attachment, passion, or creativity in their roles, during the World Economic Forum in Davos, Switzerland. L'Oreal USA's former CEO Stephane Rinderknech called the company's 11,000 employees back to the office in a staggered process in July 2020. "It's vital for the company, and it's vital for the employees. CEOs have changed their tune on remote work since the pandemic saying that employees are more productive and efficient in the office. AdvertisementNumerous firms including Google, Meta, Starbucks, and JPMorgan have walked back their remote working policies as a result, and are requiring workers to come back to the office .

Persons: —, Nicolas Hieronimus —, Hieronimus, L'Oreal USA's, Stephane Rinderknech, It's Organizations: Service, Economic, Business, Daily Telegraph, L'Oreal, Google, Meta, JPMorgan Locations: Davos, Switzerland, French, California

The world's biggest shopping event happens in China each year - and it's called Singles Day. WHEN DID THE IDEA OF SINGLES DAY ORIGINATE? The idea for Singles Day had originated at China's Nanjing University back in 1993 and was originally called "Bachelor's Day." Cyber Monday immediately follows Black Friday, which falls on the day after the U.S. Thanksgiving Day holiday, the busiest shopping day of the year in the United States. "The presale period of Tmall and particularly on -- in general, the Singles Day, confirms a softer trend versus a year ago," said Estee Lauder CEO Fabrizio Freda last week, adding that the company was more optimistic about the next part of the Singles Day events in November.

Persons: it's, Bain, Jacob Cooke, Pinduoduo, Cooke, Estee Lauder, Nike, JD.com, Fabrizio Freda, Nicolas Hieronimus, Hieronimus, Granth, Aditya Soni, Diane Craft Organizations: China's Nanjing University, Adobe Analytics, U.S, Reuters, Technologies, Cyber, HK, PDD Holdings, Adobe, Bain, HOPE, Nike, Procter & Gamble, Apple, L'Oreal, Thomson Locations: China, United States, Beijing, Greater China, Bengaluru

☆ How 3 stocks tied to China's economy are navigating its uneven post-Covid recovery
▼ + stars: | 2023-10-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

But looking at quarterly numbers and commentary from multinational companies doing business there, the road back for the world's second-largest economy remains uneven. Club name Procter & Gamble (PG) flagged weakness in China when it reported its fiscal first quarter 2024 earnings. SBUX YTD mountain Starbucks YTD Given P & G's remarks, we hope Starbucks is still able to keep its China numbers moving in the right direction. Starbucks' growth in China, its second-largest market after the U.S., is still in its early stages. WYNN YTD mountain Wynn Resorts YTD Commentary from Las Vegas Sands gives us hope that Wynn Resorts might be able to continue last quarter's momentum in gross gaming revenue in Macao.

Persons: China — Estee Lauder, —, Nicolas Hieronimus, Andre Schulten, Let's, Estee Lauder, Lauder YTD, Estee, We're, there's, Wells, WYNN, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Starbucks, Wynn Resorts, Vegas Sands, L'Oreal, Procter, Gamble, Deutsche Bank, Wynn, HSBC, CNBC, Wuhan International Plaza, Getty Locations: China, Sands, Macao, Asia, Hainan province, U.S, Dubai, Wynn Macau, Wuhan, Hubei province

☆ L'Oreal beats expectations with strong sales in U.S., Europe
▼ + stars: | 2023-04-19 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

PARIS, April 19 (Reuters) - L'Oreal reported a 13% rise in first quarter sales, beating expectations thanks to strong business in the United States and Europe as shoppers shrugged off rising prices, but said it had not benefited yet from the end of COVID-19 curbs in China. Sales of the French cosmetics group, which sells brands ranging from Maybelline to Lancome, came to 10.38 billion euros ($11.37 billion) over the first three months to the end of March. The 13% increase on an organic basis beat analyst expectations for 8.1% growth according to a consensus estimate cited by Barclays. Sales in Europe and North America grew by 16% and 16.6% respectively, with the company flagging a strong performance from its consumer products, which has been moving upmarket, as well as its dermatological beauty division, which sells CeraVe skincare. In mainland China, where the company said luxury sales were flat due to low inventories, consumer demand and store traffic resumed from February.

☆ L'Oreal plans to buy luxury skincare brand Aesop — known for its $90 serums and $40 hand wash that wealthy millennials can't get enough of — in a $2.5 billion deal
▼ + stars: | 2023-04-04 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

French cosmetics giant L'Oreal plans to buy Aesop for $2.5 billion. Aesop is an Australian skincare brand, known for its simple marketing and gender-neutral products. Aesop is an Australian brand that dates back to 1987 when founder Dennis Paphitis opened a Melbourne hair salon and began mixing essential oils into hair products. Today, it's known for luxurious home fragrances, hair oils, and skincare products, which are served up in apothecary-style brown bottles. It has become an aspirational brand for wealthy millennials who are happy to spend $40 on its hand wash to make their bathrooms look more upmarket.

☆ L'Oreal buys luxury brand Aesop from Brazil's Natura for $2.5 billion
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: +1 min

Aesop products sit on display for sale at their store on Abbott Kinney Blvd. French cosmetics group L'Oreal struck a deal with Brazil's Natura & Co to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion, both firms said on Monday. The deal expands L'Oreal's presence in the luxury cosmetics market, while marking a financial relief for the Brazilian firm, burdened by shrinking margins and heavy debt. "Aesop taps into all of today's ascending currents and L'Oreal will contribute to unleash its massive growth potential, notably in China and travel retail," L'Oreal CEO Nicolas Hieronimus said in a statement. For Natura, the deal adds to a broader organizational shakeup that saw former chief executive and executive chairman Roberto Marques step down in June last year, handing over the reins to Fabio Barbosa.

☆ L’Oréal buys Aesop in $2.5 billion deal, its biggest acquisition ever
▼ + stars: | 2023-04-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant. The sale was announced Monday by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop, which is known for its luxury skin and body care products, under the same umbrella as brands such as Garnier and Maybelline. The deal would be L’Oréal’s largest acquisition of another brand on record, followed by its $1.7 billion purchase of YSL Beauté in 2008, according to data from Dealogic. “Aesop taps into all of today’s ascending currents,” L’Oréal CEO Nicolas Hieronimus said in the statement.

☆ L'Oreal buys luxury brand Aesop from Brazil's Natura for $2.5 bln
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of French cosmetics group L'Oreal in the western Paris suburb of Levallois-Perret, France, February 7, 2020. REUTERS/Gonzalo FuentesSAO PAULO, April 3 (Reuters) - French cosmetics group L'Oreal (OREP.PA) struck a deal with Brazil's Natura & Co (NTCO3.SA) to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion, both firms said on Monday. The deal, L'Oreal's largest ever brand acquisition according to Dealogic data, expands the firm's presence in the luxury cosmetics market, while also providing the Brazilian company with some financial relief amid shrinking margins and heavy debt. The acquisition is also the third largest on record of an Australian company in the consumer products sector, the data showed. "Aesop taps into all of today's ascending currents and L'Oreal will contribute to unleash its massive growth potential, notably in China and travel retail," L'Oreal CEO Nicolas Hieronimus said in a statement.

"Most luxury retailers don't think Hong Kong will return to the dizzy levels of 2014 when the market here peaked," said Simon Smith, Savills' senior director of research and consultancy in Hong Kong. Morgan Stanley (MS.N) forecast Hong Kong visitor numbers this year will reach just 70% of 2018 arrivals. It estimates retail sales will grow 15%, holding at around 80% of retail trade from the pre-COVID year. That outstripped total Hong Kong retail sales from a peak hit in 2013 at HK$494.5 billion ($63.0 billion), according to the city's statistics department. ($1 = 6.8510 yuan)($1 = 7.8498 Hong Kong dollars)Reporting by Farah Master, Jessie Pang, Anne Marie Roantree, Angel Woo and Donny Kwok in Hong Kong, Sophie Yu in Beijing, and Mimosa Spencer in Paris; Writing by Miyoung Kim; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. demand boosts L'Oreal fourth-quarter sales, China weighs
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +1 min

L'Oreal posted 8.1% sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China. The cosmetics company, which sells Maybelline mascara and CeraVe skincare, recorded sales for the last three month of 2022 of 10.3 billion euros ($11.1 billion), in line with analyst expectations, according to Refinitiv data. The 8.1% growth rate for the three months to end-December compared with a 9.1% increase in sales in the third quarter. Overall revenues were boosted by 9.4% like-for-like growth in the United States and 8.1% growth in Europe, although the company said it saw a "drastic slowdown" in China in the second half of the year. L'Oreal grew faster than the market average across all its regions, Chief Executive Nicolas Hieronimus told CNBC's Charlotte Reed in Paris, with Europe proving a "pleasant surprise."

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