Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%
LVMH, the world’s biggest luxury goods group, said sales momentum picked up in June and had especially improved in China, after store closures sparked by the pandemic tore a hole in the Louis Vuitton owner’s Q2 sales.
Incnut Digital, an e-commerce start-up, has raised around $4 million (Rs 30 crore) funding in Series A from RPSG Ventures, an early stage consumer-centric venture capital fund, backed by RP-Sanjiv Goenka Group.
An Indian court has directed Emami Ltd to give bigger rival Hindustan Unilever Ltd seven days notice before initiating legal proceedings over the ‘Glow & Handsome’ trademark, according to a July 6 order.
Gender equality platform Mixx has launched an online clothing and lifestyle pop-up shop ‘Pride Drop’ to showcase up-and-coming brands and support the LGBTQIA+ community during international pride month.
Coty Inc on Thursday named former top executive of L'Oreal, Sue Nabi, as chief executive officer, its third CEO in this year, sending the shares of the cosmetics maker up about 4% in premarket trading.
The Indian arm of Unilever said it would rebrand its skin-lightening cream ‘Fair & Lovely’ to ‘Glow & Lovely,’ after facing backlash that the name promoted negative stereotypes towards darker skin tones.