L’Oreal Powering Down Clarisonic After 16 Years Of Innovation, More Than 15 Million Devices Sold
The decision to close Clarisonic follows a €234m impairment charge recorded in 2016 and comes as L’Oreal faces tough strategic decisions in a global economy ravaged by the COVID-19 crisis.
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“It's unfortunate, but it's the Darwinian side of this industry,” L’Oreal CEO Jean-Paul Agon said on 16 April while discussing newer players’ prospects for survival through the COVID-19 crisis and L’Oreal’s own first-quarter results – down 4.8% like-for-like, but ahead of the market.