L'Oreal CEO Discusses Middle East Conflict Impact and Future Plans
L'Oreal's CEO addressed shareholders, highlighting a 100 million euro impact on first-quarter turnover due to the Middle East conflict. Additionally, the CEO projected this year's tariff impact to be double that of last year's. Plans are in motion to work on Gucci before their Coty license expires in 2028.
L'Oreal's CEO informed shareholders that the ongoing conflict in the Middle East has resulted in a financial impact of around 100 million euros on their first-quarter turnover.
The CEO further indicated that the company expects the financial impact of tariffs this year to be approximately double that of last year's 100 million euros.
Plans to begin working on projects with Gucci before the existing license with Coty expires in 2028 were disclosed, with hopes of negotiating an earlier start date.
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