Find in the news:
BY COUNTRY

L'Oreal closes stores - customers no longer need cosmetics



One of the world's largest cosmetics manufacturers, French company L'Oreal has announced its intention to close some stores in the U.S.
L'Oreal Depositphotos

The American market is the largest and one of the most important for brands. Nevertheless, the problems caused by the coronavirus pandemic forced L'Oreal to start reorganizing its retail business. The company will close some stores completely, while others will be converted into online ordering outlets. In total, the reorganization process will take about six months.

Closing some stores (the exact number is not yet known) will inevitably lead to employees' dismissal. It is called the number of 400 people. At the same time, the company states that some of them will be offered the option to move to other positions.

The funds released due to the reorganization will be used to develop e-commerce, the only area that shows stable growth. Thus, in the first half of 2020, online sales of L'Oreal grew by 65% at once. However, this was not enough to compensate for the losses caused by a general decline in consumer interest in cosmetic products.

Speakers of the company statted that buyers' behavior of luxury goods in the U.S. has changed dramatically, and L'Oreal USA will develop its business to meet these new expectations and preferences of consumers. The upgrade of the existing system is one step in that direction.

L'Oreal is not the only cosmetics brand that is going through difficult times. Under the pandemic conditions, consumers began to spend less money on expensive perfumes and cosmetics, which inevitably affected all manufacturers. Economic difficulties and a lack of current demand for cosmetic products in the face of a significant reduction in social contact caused a total decline in retail sales.

Photo credit: depositphotos.com.

More about shopping malls in the USA



May 14, 2021, USA:
The largest U.S. retailer is putting more effort into gaining a stronger foothold in the fashion market.
May 13, 2021, Italy:
Diesel has announced a new phase of its For Responsible Living sustainability initiative, Diesel Library.
May 12, 2021, USA:
L Brands does not intend to sell its women's lingerie brand Victoria's Secret and separate it into a separate public company.
May 11, 2021, USA:
Charlie and Dixie D'Amelio will be the faces of a new clothing brand for teens called Social Tourist.
May 11, 2021, USA:
There is something of a state of euphoria in the actions of shoppers who have had the opportunity to return to shopping malls.
May 11, 2021, USA:
The primary demand of the protests, scheduled for May 19, is an increase in the minimum wage.
Friend
and Follow
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us