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    OR   FR0000120321

L'ORÉAL

(OR)
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L'Oreal says has resolved Singles Day shopping spat

11/18/2021 | 01:54pm EST
Staff members work at a counter of cosmetics brand L’Oreal at a shopping mall in Beijing

BEIJING - French cosmetics giant L'Oreal on Thursday said it had reached a "constructive and satisfactory solution" following a dispute about prices during Alibaba Group's Singles Day shopping promotion early this month.

In the Chinese retail industry, companies have become increasingly reliant on popular culture personalities to market products in live streams followed by millions of fans.

China's top two livestreaming sales stars Li Jiaqi and Viya in social media posts on Wednesday said ties with L'Oreal had been suspended after some followers said facial products they had promoted as carrying the biggest discounts of the year during Singles Day could be bought for less days later on L'Oreal's own platform.

In an emailed statement from L'Oreal's head office in Paris, it said both of the livestreamers had communicated the solution to address complaints from customers related to the Singles Day promotion.

According to Chinese media, the two livestreamers pre-sold a combined 18.9 billion yuan ($2.96 billion) worth of goods on Oct. 20 in promotions ahead of Singles Day.

They said they would offer compensation to followers and had given L'Oreal 24 hours to come up with a plan.

The spat became one of the most viewed topics on China's Twitter-like Weibo social media network on Thursday, with 450 million hits.

($1 = 6.3750 Chinese yuan renminbi)

(Reporting by Sophie Yu and Brenda Goh; additional reporting by Mimosa Spencer in Paris; Editing by Kenneth Maxwell and Barbara Lewis)

By Sophie Yu and Brenda Goh


© Reuters 2021
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Financials
Sales 2021 31 847 M 36 308 M 36 308 M
Net income 2021 4 504 M 5 135 M 5 135 M
Net cash 2021 6 043 M 6 890 M 6 890 M
P/E ratio 2021 46,7x
Yield 2021 1,20%
Capitalization 212 B 242 B 241 B
EV / Sales 2021 6,45x
EV / Sales 2022 5,84x
Nbr of Employees 85 392
Free-Float -
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L'Oréal Technical Analysis Chart | OR | FR0000120321 | MarketScreener
Technical analysis trends L'ORÉAL
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 379,40 €
Average target price 399,95 €
Spread / Average Target 5,42%
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Managers and Directors
Nicolas Hieronimus Chief Executive Officer & Director
Christophe Babule Chief Financial Officer
Jean-Paul Agon Chairman
Barbara Lavernos Deputy CEO-Research, Innovation & Technology
Antoine Vanlaeys Chief Operating Officer
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