L'Oréal becomes France's top valued company
L'Oréal, the cosmetics group, topped the Paris Stock Exchange with a market value of 203 billion euros, surpassing LVMH, the owner of the Louis Vuitton brand. This comes amid a decline in the luxury goods sector and the effects of "lipstick" on consumers. This achievement follows years of declining luxury sales, as consumers now prefer small products and cosmetic items like lipstick to boost their mood, rather than purchasing luxury bags and shoes. Since 2017, for the first time, L'Oréal has led the Paris stock exchange, while shares of LVMH decreased by 2.3%, and its market value fell after a slump in demand and slowing economic growth in China. This resulted in LVMH losing its position as the largest luxury company in Europe and dropping out of the top 10 companies by market value on the continent.
Notice: This Is an AI-Generated Summary
Comments (0)