As an avid sailor, Jean-Paul Agon has learned from weathering past storms to keep an eye trained on the horizon.
It’s a particularly apt lesson for these times. The impressive profit and sales increases of his first two years as chief executive officer of L’Oréal were swept away by one of the worst beauty markets in decades. For 2006, profits jumped 11.9 percent to 1.83 billion euros, or $2.3 billion, on a sales gain of 8.7 percent to 15.79 billion euros, or $19.84 billion. And 2007 was another banner year. Then came 2008, when L’Oréal posted net profits that fell 26.6 percent year-on-year to 1.95 billion euros, or $2.87 billion at average exchange. The company’s full-year revenues came in at 17.54 billion euros, or $25.81 billion, up 2.8 percent. The first quarter of 2009 eked out a 0.3 percent sales gain.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"