PARIS-Renaud de Lesquen is now heading up YSL Beauté, which L’Oréal acquired earlier this year from PPR for 1.15 billion euros, or $1.69 billion at current exchange, it was revealed during a financial analyst meeting held Friday morning at L’Oréal headquarters in the Paris suburb of Clichy.
De Lesquen, who was formerly international brand president of Giorgio Armani Parfums and Cosmetics, replaces Andrea Barbier in the role.
It could not immediately be learned who succeeded de Lesquen at Armani.
YSL Beauté, which includes beauty brands such as Yves Saint Laurent, Roger & Gallet, Boucheron, Stella McCartney, Oscar de la Renta and Ermengildo Zegna, registered first-half 2008 sales of 299 million euros, or $457.6 million at average exchange in the period, up 3.1 percent versus first-half 2007.
As reported, L’Oréal reported its net profits for first-half 2008 increased 6.4 percent versus the comparable prior-year period to 1.26 billion euros, or $1.92 billion. Its operating profits gained 3.9 percent to 1.5 billion euros, or $2.29 billion, representing 17.3 percent of sales, a 40 basis-point on-year gain – a company record.
L’Oréal’s first-half revenues were 8.65 billion euros, or $13.23 billion, up 1.6 percent.