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Latest From L'Oreal SA
This fall, Robb Akridge’s Opulus Beauty Labs will be launching stripped-down, “peak potency” skin-care formulas in the form of Opoules that users warm and blend in an Activator appliance, providing fresh, single-dose treatments. The system bears similarities to Swiss startup Réduit’s Hairpods and applicator device, as well as L’Oreal’s AI-powered Perso, slated to debut in 2021.
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.
“How well do we understand the complex sector that supports every facet of our life?” asks Cosmetics Europe’s website for the “Essentials for Daily Life” film series co-developed with the trade association’s members in partnership with BBC StoryWorks Commercial Productions.
The beauty giant says it is selling its Professional Beauty and retail hair-care businesses to global investment firm KKR and targeting $700m in cost reductions over the next two and a half years. Coty already was in transformation mode prior to COVID-19, which drove a 23% decline in its third-quarter net sales, and it does not expect revenue levels to normalize anytime soon.
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