L’Oreal changes forecast after disappointing third-quarter results
CLICHY, France Cosmetics maker L’Oreal reduced sales and profit forecasts for the third time in four months—once in July, once in August—and is preparing for a tough upcoming year. Third-quarter sales rose 3.4 percent to 4.27 billion euros, while Eastern Europe showed a 30 percent; Asia, a 14 percent increase; Latin America, a 6.9 percent increase; and Western Europe a 3.9 increase.
“Since September, we have noted a clear slowdown in some markets in western Europe and North America, and have been confronted with a contraction of purchasing by some distributors in the current economic crisis,” said chief executive officer Jean-Paul Agon in a statement. “[L’Oreal] distributors in the United States and some European countries are being very cautious and are reducing inventories.”
The company predicted in August “close to a 6 percent” rise in organic revenue and are now saying approximately 4 percent for the year. Organic sales are already slowing, showing an increase of 2.7 percent this quarter, compared with a 5.1 percent increase in the second quarter.
L’Oreal is the third major cosmetics to cut its predictions in three days. Estee Lauder Cos. announced their changed forecast Tuesday, and Avon Products Inc. lowered their forecast Thursday.
German company releases details of Playboy men’s fragrance bottle design
DUSSELDORF, Germany Gerresheimer, a company that supplies specialty products made of glass and plastic, has introduced the details of the new men’s fragrance bottle for the Playboy brand.
In February, Coty Inc. announced that it had entered into a license agreement with Playboy Enterprises to develop the new, global men’s fragrance line under the Playboy brand name.
The new fragrance is scheduled for global distribution beginning fall 2008 with initial plans to launch in Europe, North America, Latin America and Asia.
According to Gerresheimer, the flat, clear bottle with its subtle elixir embodies discretion. There is not a word on its front or even the product name. Instead, a broad sleeve strip encircles the greater part of the body.
The eye is then drawn to the Playboy trademark symbol, the bunny with the dapper bowtie, located on the lower right of the bottle.
P&G releases Olay Professional Pro-X skin care line
CINCINNATI Procter & Gamble has developed a new line of skin care products, dubbed Olay Professional Pro-X, that is being positioned as a professional line for the mass market.
The line is comprised of an Age Repair Lotion with SPF 30, Wrinkle Smoothing Cream, Hydra Firming Cream, Deep Wrinkle treatment, Eye Restorative Complex and Discoloration Fighting Concentrate.
In addition to the six product offerings, the collection also includes an Anti-Aging Starter Protocol, Olay’s first-ever product regimen recommendation. This three-step regimen is a cost-effective way for women to experience the line. It includes two primary solutions: Age Repair Lotion SPF 30 and Wrinkle Smoothing Cream, and one specialized treatment, Eye Restorative Complex.
The line will be available beginning February. The suggested retail price is $42. The Olay Professional Pro-X Anti-Aging Starter Protocol is available beginning in December and where Olay products are sold in January. The suggested retail price is $62.
To develop the line, P&G Beauty Scientists explored how skin-related genes function, interact with one another and, more importantly, respond to aging and environmental stress at the molecular level. Using this insight and genomics tools, P&G Beauty Scientists have learned a healthy, strong stratum corneum moisture barrier is important to allowing maximum inner skin performance. With this knowledge, the company identified combinations of cosmetic ingredients and formulated them into cosmetic moisturizers that promise to protect and strengthen the stratum corneum in aged skin.
“For the first time in history, scientists can capture the complete gene profile of younger skin and compare it to that of older skin,” Greg Hillebrand, P&G Beauty Science said. “Genomics gives us a global picture of what is happening with skin aging and allows us to understand the complexity of differences between young skin and aged skin at the most fundamental levels.”