LONDON — A L’Oréal spokesman said he had nothing further to comment beyond press reports that L’Oréal had ceased shipping products to L’Etoile, a Russian retailer, due to lack of payment.
This story first appeared in the February 11, 2009 issue of WWD. Subscribe Today.
The French beauty giant reportedly ceased delivering products to the 500-door chain, which has a partnership deal with LVMH Moët Hennessy Louis Vuitton-owned Sephora, at the end of last year. Georges Chichmanov, L’Oréal’s general secretary in Russia, and Kirill Muradov, general manager of L’Etoile, were quoted by Reuters as saying they are in negotiations.
In 2007, L’Oréal had 7.8 percent market share of the Russian beauty market, which weighed in at $10.55 billion, according to tracking firm Euromonitor.