Makeup softness isn’t the problem, per se, in L’Oreal’s sluggish US business, which is fixable with sharper innovation and execution driven by a newly instated leadership team, CEO Jean-Paul Agon says. L’Oreal’s overall global sales in fiscal 2019 to date are up 7.5%, like-for-like, after continued strong momentum in its fiscal 2019 third quarter.
L'Oreal SA is looking to new leadership to energize its US business, where makeup overexposure has dragged on its North American sales – virtually “the only weakness in the picture,” the beauty giant says.
Sales in North America slipped 1.3%, like-for-like, to roughly €1.9bn ($2.1bn) in the fiscal 2019 third quarter, according to the...