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Is L’Oreal Luxe still viable in the current climate?

Models for L'Oreal Luxe
L’Oreal is restructuring its luxury division after a tough first half in the US. Image: L’Oreal.
With changes to consumer behaviour turning luxury retail on its head, the world’s largest cosmetics company is having to rethink its luxury strategy.  According to Bloomberg, L’Oreal SA plans to close some of its retail locations as part of a restructure of its US luxury operations. At the company’s half year results in July, the L’Oréal Luxe Division reported a 16.8 per cent drop in like-for-like sales, in a luxury beauty market that contracted by some 23 per cent. L’Oréal