PARIS — Liliane Bettencourt has passed the L’Oréal torch to the next generation.
In reporting an 8.9 percent increase in net profits for 2011, the world’s largest beauty company said Monday that the 89-year-old Bettencourt would step down from the board and her seat would be taken by her 25-year-old grandson, Jean-Victor Meyers. The move will be submitted for approval at the next annual general meeting of shareholders. The Bettencourt family is the largest single shareholder in L’Oréal, with a 31 percent stake.
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?"