Saks Inc is cutting 116 jobs in the cosmetics and fragrance departments of its flagship Fifth Avenue store in New York as it moves to get outside vendors such as Chanel, Lancome and Clinique to fully staff their Saks ...
L'Oreal shares jumped after the world's biggest beauty products group posted forecast-beating first-half profits and said it believed the worst of retailers' order trimming of luxury products was over.
German fragrance and food-flavours maker Symrise said second-quarter net income dropped 44 percent on high feedstock costs and as demand for high-margin fragrances for luxury cosmetics and perfumes declined.
L'Oreal sees the world cosmetics market flat or growing slightly this year and is forecasting the group's trading to improve in the quarters ahead, the French beauty products giant said on Thursday 4 June.
L’Oréal, celebrating its centenary on Thurday 4 June, has risen to the top of the global cosmetics markets through acquisitions and innovations, but the economic crisis could weaken a well-oiled strategy.