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Bettencourt Meyers family
How L'Oréal's founding family manages its billion-euro dividends

The Bettencourt Meyers' family office has built up cash reserves of €7.7bn thanks to its L'Oréal dividends.
The Bettencourt Meyers' family office has built up cash reserves of €7.7bn thanks to its L'Oréal dividends.© Photomontage Glitz – Sources : Philippe Blanchot (AFP)

The Bettencourt Meyers family gets over €1bn a year from its nearly 35% stake in the cosmetics giant. These sums stay on the accounts of the dynasty's family office, following a model also used by other major French luxury families.

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Houses

Kering
Alexander McQueen temporarily deserts the world's fashion capitals

Kering boss Luca de Meo plans to drastically downsize the network of Alexander McQueen stores.
Kering boss Luca de Meo plans to drastically downsize the network of Alexander McQueen stores.© Photomontage Glitz – Sources : RLI, Thomas Samson (AFP)

Despite an expensive extension in 2023, McQueen's biggest flagship of all, located in Paris's Rue Saint-Honoré, closed down this summer with barely a murmur. In Milan, London and New York, it's the same story as the ailing Kering label beats a retreat on every front.

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Louis Vuitton
Legal tussle with Molly Tea forces early shop closures in China

The fallout from the Molly Tea dispute has cost Louis Vuitton dear in China.
The fallout from the Molly Tea dispute has cost Louis Vuitton dear in China. © Photomontage Glitz – Sources : Molly Tea

LVMH's flagship brand won its case against Molly Tea, which it had accused of copying its floral logo, but its lawsuit against the Chinese brand sparked a backlash. Chinese consumers are boycotting Louis Vuitton such an extent that the French brand has had to close shops in China ahead of schedule.

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Estée Lauder
Sued for inflating its figures in China, Estée Lauder survives… thanks to China

Nearly 70% of Estée Lauder's growth is now in China, where it nearly came to grief three years ago.
Nearly 70% of Estée Lauder's growth is now in China, where it nearly came to grief three years ago.© Photomontage Glitz – Sources : Estée Lauder

Three years after being dragged down by China, Estée Lauder is bouncing back thanks to its sales there. Its annual report shows the US luxury beauty giant has placed its fate in the hands of the very market that nearly brought it down, even as legal proceedings are still ongoing.

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Entourage

Max Mara
Italian ready-to-wear giant plunges into AI after quiet test run

On the Max Mara website, the visuals for the Studio line feature both real and AI-generated models.
On the Max Mara website, the visuals for the Studio line feature both real and AI-generated models.© Photomontage Glitz – Sources : Max Mara

Max Mara plans to replace models, photographers and stylists with artificial intelligence for much of the imagery accompanying its next autumn-winter collection, keeping humans only for its main campaign. This is a radical decision that is shaking up the brand's entire ecosystem of suppliers.

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