Shares in L’Oréal fell 0.12 percent Tuesday to 81.56 euros on the Paris stock market following rumors that the French cosmetics giant was about to make a $44 per share bid for the $10.4 billion direct-sales beauty company Avon Products Inc., which would value the latter firm at $19 billion. Avon shares rose more than 4 percent Tuesday, to close at $34.54.
Both a L’Oréal spokeswoman and an Avon spokeswoman declined to comment on the report, originally published in the U.K.’s Daily Mail.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)