Luxury Headlines – 22/04/2024
Luxury Headlines – 22/04/2024
-
L’Oréal's 2024 First Quarter Results Exceed Expectations
For 2024's first quarter, L’Oréal sales growth exceeded expectations, despite concerns about a slowdown in the beauty market, particularly in the United States and China. L'Oréal's sales rose 9.4%, due to strong sales in mass market beauty and dermatological skincare. In both North America and Europe, sales grew by more than 12%. The company's consumer products division, which includes L'Oréal Paris and Elvive, grew 11.1%, while the dermatological beauty unit, which sells La Roche-Posay and CeraVe, grew an impressive 21.9%. The luxury division that markets fragrances grew by 1.8%, beating expectations. Sales in China grew 6.2%, which is less than the broader market growth, but L'Oréal is still outperforming the market in China.
-
Puig Raising €2.6 Billion on Madrid Stock Exchange
Spanish beauty group Puig is following through on its plan for an IPO in Madrid and is looking to raise up to €2.6 billion, thus floating roughly 21-24% of its stock. This would represent the largest IPO in Europe this year with a valuation target of roughly €14 billion. Puig owns many well-known brands, including Paco Rabanne, Charlotte Tilbury, Byredo, Carolina Herrera, and Jean Paul Gaultier. The Puig family plans to sell Class B shares and will maintain a majority stake in the company following the IPO. Puig’s revenue rose 19% last year, and the company hopes to capitalize on growing momentum in the European equity markets.
-
Audemars Piguet Collaborates with Musician John Mayer
Swiss watchmaker Audemars Piguet and John Mayer have collaborated on a watch design, Audemars Piguet’s special edition Royal Oak Perpetual Calendar. The Grammy-winning singer John Mayer helped create the watch and, being a watch collector himself, designed the dial of the Royal Oak Perpetual Calendar “John Mayer” Limited Edition. This is the latest in a series of music-minded product collaborations by Audemars Piguet.
-
LVMH Board Joined by Frédéric and Alexandre Arnault
Bernard Arnault’s sons Frédéric and Alexandre have just been appointed to the LVMH board. Bernard Arnault's two eldest children, Délphine and Antoine, already hold seats on the board. His sons Frédéric and Alexandre were recently appointed LVMH Watches CEO and EVP of Product, Communications and Industrial at Tiffany, while Antoine is CEO and Vice Chairman at Christian Dior SE and Délphine is CEO of Christian Dior Couture. The Arnault family owns nearly 50% of LVMH's shares and controls voting rights. Bernard Arnault, the CEO, who is 75 years old had his retirement age raised to 80 in 2022.
-
Jimmy Choo Showcases Golf Inspired Capsule
Jimmy Choo has revealed a new golf-inspired capsule based on the collaboration between the luxury footwear brand and California-based Malbon Golf. The collection includes shoes, sandals, golf bags, and other accessories and targets a younger generation of golfers interested in style. This is part of a widespread trend of luxury brands collaborating with sports brands and engaging deeper with wider sport-minded audiences.
Related Insights
This Week in Luxury
Luxury Headlines – 22/12/2025
From strategic divestments to major acquisitions shaping the luxury landscape! Discover the hottest updates in the world of luxury!
This Week in Luxury
Luxury Headlines – 15/12/2025
From resilient performance in home furnishings to strategic bets in beauty and tech! Discover the hottest updates in the world...
This Week in Luxury
Luxury Headlines – 08/12/2025
From strategic investments in fine jewelry to leadership shifts shaping global fashion! Discover the hottest updates in the world of...
Let us partner for success.
Contact us and see how we can help your experience transformation goals.