L’Oreal SA plans to close retail locations as part of a restructuring of its U.S. luxury operations as the company grapples with severe changes to consumer behavior amid the pandemic. The Luxe Division of L’Oreal USA plans to shift investment to growth areas such as e-commerce as part of the reorganization over the next six months, the company said Thursday in a statement in response to inquiries from Bloomberg. L’Oreal didn’t say how many stores would close or whether there would be job impacts as part of the restructuring. “Modernizing its current distribution footprint is necessary for rebuilding the organization around the future of the consumer," the company said. “Luxury consumer behavior in the U.S. has fundamentally evolved, and L’Oreal USA will be evolving its business to meet these new consumer expectations and preferences."

Source: Mint October 08, 2020 23:15 UTC