Zalando Launches AI Shopping Agent as Discounts Squeeze Margins
Zalando reported a 0.9 percentage-point drop in its third-quarter gross profit margin to 38.7%, missing market expectations, according to analysts at Jefferies and JPMorgan.
Clichy, France
Beauty
L’Oréal Names Nicolas Hieronimus as Next CEO
The 33-year L’Oréal veteran is currently deputy CEO and will take over on May 1.
Beauty
L’Oréal to Close Some Stores, Cut 400 Jobs Amid Luxury Shift
The cosmetics maker's Luxe Division plans to shift investment to e-commerce over the next six months.
Workplace & Talent
L’Oreal Is Set to Name New CEO Soon. Here’s a Shortlist
Current chief executive Jean-Paul Agon, who is stepping down next year when he turns 65, told Bloomberg that the cosmetics giant will announce his successor “pretty soon.”
Beauty
L’Oréal Considers Cut to Ad Spend on TikTok Over Privacy Issues
The cosmetics company said it is 'monitoring the situation very closely' and that it will adjust its policy accordingly.
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Beauty
L'Oréal Cancels 10.4% Dividend Increase
The beauty group will instead stick to the same payout per share it made in 2019.
Beauty
L'Oréal Banks on Post-Lockdown Rush to Hair Salons
The cosmetics company has so far seen a 4.8 percent fall in comparable first-quarter sales.
News & Analysis
Californian Start-Up Born in a Garage Beats L’Oréal in Patent Feud
After Olaplex accused L’Oréal of stealing trade secrets in 2015, the french beauty company may now face charges up to $91.3 million.
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The News in Brief
Unilever Plans €1 Billion in Savings to Ramp Up Turnaround
The conglomerate is focussed on sharpening its positioning as a pure-play beauty and personal care organisation.
Indian Jeweller Giva Raises $100 Million to Fuel Retail Expansion
The Bengaluru-based company plans to use the mammoth funding round to boost manufacturing and more than double its store count to over 1,000 locations.
Bangladesh Garment Workers Stage Fourth Day of Wage Protests
The unrest has intensified despite the government forming a wage board to review pay levels, with violent clashes shuttering factories and injuring dozens of people.
Retail Still a Weak Spot as Reliance Profits Beat Expectations
The Indian oil-to-telecom giant saw its market value jump by a record $19 billion as earnings surged, but its retail division continues to lag.
Hugo Boss Cuts Outlook Citing Weak Demand, Higher Costs
The German fashion house, recently taken over by Britain’s Frasers Group, is in the midst of a second turnaround effort under CEO Daniel Grieder.
Diotima’s Rachel Scott, Ralph Lauren Take Home Top Prizes at CFDA Awards
Colleen Allen won the emerging designer of the year award; Tory Burch, Linda Fargo and more take home honours.
Ye Announces ‘Yeezy Season 01’ Runway Show in Los Angeles
The show will unveil the brand’s first-ever flagship store and mark Ye’s first full-scale runway presentation in four years.