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...That would be well below L’Oréal on 20 times and below the 12 times that Coty and L’Occitane trade at. Spain’s largest IPO in years is so far looking good. andrew.whiffin@ft.com...
...Bernstein analyst Bruno Monteyne said that in the short term “these changes by Unilever are about saving costs”....
...“Whatever the drag of travel retail, L’Oréal maintains its organic growth,” wrote Bruno Monteyne at Bernstein. “Whilst that is a drag, all other divisions and regions made up for this . . ....
...Bernstein analyst Luca Solca said that for the time being the partnership with L Catterton would “allow [Tod’s] to reap many of the benefits that being part of a conglomerate like LVMH could offer, but without...
...alan.livsey@ft.com...
...The likes of Nestlé, Unilever, Lindt and L’Oreal sport an average return on capital employed of about 15-20 per cent, says Bruno Monteyne at Bernstein. PepsiCo’s is 14 per cent....
...L&G said that it had written £13.4bn of pension transfer business globally so far this year....
...Sebastian Mallaby, ‘The Man Who Knew: The Life & Times of Alan Greenspan’ (2016) Favourite: The Money Game, by “Adam Smith”....
...“Encore de l’audace, toujours de l’audace!” as the French revolutionary Danton put it....
...Constructed in 1827 in an L-shape, connecting the city centre thoroughfares of Buchanan Street and Argyle Street, its hammerbeam roof is more reminiscent of a baronial castle than a shopping mall....
...But, to paraphrase the L’Oréal strapline, Aesop should be worth it. The brand has increased sales by almost 20 per cent a year since 2016, according to Bernstein Research. That is an impressive rate....
...“It would have been good to have an external [candidate] to bring some truth telling to the business,” said Bernstein analyst Bruno Monteyne....
...Schumacher, who replaced the company’s chief executive of five years Alan Jope, said his task ahead was to use Unilever’s “strong fundamentals” to drive improved performance and competitiveness....
...Consumer goods companies had a remarkably strong 2022 despite the sharp rise in raw material costs and the cost of living squeeze, with companies such as L’Oréal, Unilever and Diageo securing high double-digit...
...Chief executive Alan Jope, a 35-year veteran of the company, announced his retirement last September just months after Peltz joined the board....
...The Restless Vision’ will be published by Penguin on October 12 Find out about our latest stories first — follow @ftweekend Letter in response to this article: Making a bad impression / From R Victor Bernstein...
...A valuation topping $9bn would mark an impressive outcome for L Catterton, which is backed by the French luxury fashion house LVMH....
...L’Oréal purchased Aesop from Brazilian conglomerate Natura for $2.5bn last year, in a record deal that makes it the French beauty company’s highest-value acquisition to date....
...Deepa Venkateswaran, senior analyst at Bernstein, said that while investors’ reaction had been “too harsh”, confidence in Ørsted’s management had been damaged....
...Companies in the space hiked prices by 10 per cent on average in the fourth quarter of 2022, according to Bernstein analysis, with volumes only 2 per cent lower....
...It is now almost double the size in terms of market valuation of beauty group L’Oréal, the world’s largest cosmetics company and the next biggest French-listed group....
...Lubomira Rochet, former chief digital officer at L’Oréal, could be another contender, said Monteyne....
...The father of two had “a huge sentimental attachment” to Guinness, said Trevor Stirling, analyst at Bernstein, who also worked with Menezes at the start of his career....
...Schumacher, who takes the helm in July after current boss Alan Jope retires, will inherit an underperforming company....
...“Investors may [see] the hand of Trian here, usually focused on accountability,” said Bruno Monteyne, an analyst at Bernstein. “More management change may be coming.”...
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