The consumer products division of L’Oréal USA continues to meet the global downturn head-on.
For one, advertising spending by the U.S. division was increased 10.9 percent for the fourth quarter — and the spigot remains open. Joseph Campinell, president of the Consumer Products Division, says ad spending for the first half has been increased by 2 or 3 percent, since it comes on top of a hefty outlay last year. He predicts that advertising spending for all of 2009 will probably be 5 percent above the level of last year. In terms of sales, as measured in retail sell-through, he expects the division’s volume to be up by 4 to 5 percent for the year.
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?"