French beauty giant L'Oreal is attempting to raise its street cred with the acquisition of edgy makeup brand Urban Decay.
The financial details were not disclosed but it is thought L'Oreal paid USD300-400m for the California-based company, which is owned by private-equity firm Castanea Partners.
Urban Decay crashed on to the beauty scene in the mid-90s with eye-catching packaging and products with names like Stray Dog, an ash-brown eye-shadow, and the pale purple Asphyxia.
Two European beauty companies, L'Oreal and Eucerin, enjoyed tremendous sales growth in the first half of the year in Thailand.
Umesh Phadke, managing director of L'Oreal (Thailand), announced that it achieved 16 percent sales growth in the first six months of 2012, ahead of the overall cosmetic market growth, which was 8.7 percent.
L'Oreal, the world's biggest cosmetics maker, posted an 11.4 percent increase in its first-half operating profit helped largely by its luxury products and still expects to outperform the market and grow profits and sales this year.
L'Oreal earlier reported slower sales in the second quarter sales with like-for-like growth slowing across all regions in the luxury segment, which includes the Cacharel and Lancome brands.
French cosmetics giant L'Oreal Paris is expected to build a USD50 million plan to build a factory in West Java that will make Indonesia its production base in Asia, Indonesia's trade minister said.
L'Oreal, which produces Garnier hair products and Maybelline cosmetics, aims to produce 500 million units in Indonesia by 2015, according to Trade Minister Gita Wirjawan.
France's L'Oreal is interested in buying soap and baby products company Cadum in a deal that could be worth EUR200 million (USD264.16m), Les Echos reported on Monday. L'Oreal's CEO Jean-Paul Agon is looking to open exclusive negotiations with Milestone capital, a Franco-British investment fund that owns Cadum, the newspaper reported.
L'Oreal, the world's largest cosmetics maker, said its sales in China last year rose 18 percent annually to CNY10.7 billion (USD1.7b) with a wider product offerings and deeper penetration into low-tier cities.
L'Oreal China doubled its revenue in the past five years and also consolidated its position as the third largest market for the group's global business operations, behind the US and France, the company said in a statement on Tuesday.
The world's leading retailer Walmart worked together with the famous cosmetics brand L'Oreal and announced its charity program for the Chinese city of Wenchuan, Sichuan Province on its work preparation meeting for 2012 in China. Under the program, Walmart China and L'Oreal will each donate CNY0.10 (USD2 cents) to Wenchuan, which was hit by a devastating earthquake in 2008, when they sell one L'Oreal product (including skincare for men and women, makeup, haircare and haircolour) during the London Olympics this year.
The Body Shop enjoyed a 4.2 percent increase in like-for-like sales growth in 2011 following a "militant" approach to innovation.
The cosmetics and beauty retailer – owned by L'oreal – said the like-for-like performance for the year to 31 December was "solid" while total retail sales rose 3.8 percent to EUR767.6 million (USD1 billion).
Parent company L'Oreal said there was a "sharp acceleration" in the fourth quarter with likes-for-likes up 7.6 percent.
French cosmetics giant L'Oreal on Monday reported a solid increase in sales and profit for 2011, driven by growth in emerging markets, which the company said would surpass western Europe as its most important region this year. Separately, the cosmetics giant announced the end of an era, saying 89-year-old L'Oreal heiress Liliane Bettencourt, France's wealthiest woman, is being replaced on the board by her 25-year-old grandson, Jean-Victor Meyers.
French court has fined perfume giants including Chanel, Christian Dior and L'Oreal a total of EUR40 million (USD53m) for colluding to keep prices high.
A Paris appeals court upheld the fine imposed in 2006 by the French competition watchdog, which said the companies involved had reached illicit agreements on price fixing, enforced by procedures to monitor prices in outlets and backed up by commercial threats for non-compliance.