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Comment BW Confdential 4 avenue de la Marne 92600 Asnières sur Seine France Tel: +33 (0)1 74 63 49 60 Fax: +33 (0)1 53 01 09 79 contact@bwconfdential.com www.bwconfdential.com Subscribe on page 72 Publisher Nicolas Grob A tough frst half ngrob@bwconfdential.com Editorial Director Oonagh Phillips ophillips@bwconfdential.com he frst part of 2014 has turned out Deputy Editor Alissa Demorest Tto be challenging for many beauty ademorest@bwconfdential.com companies. The string of second-quarter Contributors and frst-half results published over Tina Clark, Claire Duffy, Alex Wynne, Renata Ashcar, Raphaëlle Choël, the summer shows that the market Tina Milton, Naomi Marcoulet, remains tough. Mayu Saini Most companies have been hit by Editorial Coordinator & Assistant Katie Nichol volatile currencies, and many more knichol@bwconfdential.com are seeing weaker growth in emerging Art Direction countries. Both French group L’Oréal APSC Design Cover art direction: Kaïs Brahmi and Anglo-Dutch company Unilever said they had witnessed a Marketing Director slowdown in developing markets, while conglomerate LVMH Nicolas Leclerc reported that its frst-half net proft fell by 4%, partly due to slower nleclerc@bwconfdential.com business in Asia. Advertising advertise@bwconfdential.com As for developed countries, the US mass color market continues Subscriptions to be weak, with both L’Oréal and US group Revlon underlining 1 year: electronic publication (20 issues) + the tough situation in this sector. On Europe, however, L’Oréal print magazine (4 issues) + daily news: €499/US$699 was more optimistic, reporting a sales increase of 2.4% for the Price per issue region in its second quarter—its strongest growth there since Electronic publication: €25/US$35 Print magazine: €125/US$175 2007. Unilever, however, said it sees no sign of recovery in North subscribe@bwconfdential.com America nor in Europe. BW Confdential is published by Noon Media Despite all this, beauty remains a strong category and one with 513 746 297 RCS Nanterre Printed in France much growth potential. The market may still be diffcult, but many by Imprimerie de Champagne players are looking forward to a better second half, and for the full Copyright © 2014. All rights reserved. Reproduction in whole or in part without year growth in the industry is expected to be along the same lines permission is strictly prohibited. as last year at around 4%. It could be much worse. Cover image credit: istock BW Confdential est édité par Noon Media SARL 4 avenue de la Marne, 92600 Asnières sur Seine Oonagh Phillips Directeur de la publication : Oonagh Phillips Imprimeur : Imprimerie de Champagne Editor in Chief ZI Les Franchises 52200 Langres ISSN 2109-3350 ophillips@bwconfdential.com Abonnement annuel: publication électronique (20 n°) + magazine imprimé (4 n°)+news quotidiennes: 499€/699US$ Prix de vente au numéro Publication électronique : 25€/35US$ Magazine imprimé : 125€/175US$ Dépôt légal à parution BW Confdential magazine n°19 septembre-octobre 2014 n° CPPAP 0512 T 90373 September-October 2014 - N°19 - BW Confidential 5