PARIS — The Bettencourt scandal has ignited a media firestorm in France and engulfed President Nicolas Sarkozy and one of his key ministers — but L’Oréal is likely to emerge unsinged.
Industry experts say the saga, which dates back to December 2007 and concerns the daughter of the French beauty giant’s founder and its largest single shareholder, Liliane Bettencourt, has so far had no impact on L’Oréal’s operations and hardly any negative effect on its image. However, it does raise the specter of a possible change in ownership in the long term and that more unforeseen variables could pop into an already complex equation.
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?"