THE WHAT? L’Oreal CEO Nicolas Hieronimus has admitted that the French beauty giant continues to operate in Russia, albeit in a ‘limited’ capacity. The manufacturer of Maybelline operates a plant south of Moscow, which manufactures shampoos, hair dye, and hygiene and baby products.
THE DETAILS In an interview with France Inter, reported by Fashion Network, the L’Oreal boss claimed ‘we can’t stop the economy’ and that its continued operation of the Kaluga plant helped safeguard its assets and employees in the country.
THE WHY? L’Oreal closed its Russian store network in March 2022 following the invasion of Ukraine. Hieronimus told France Inter, per Fashion Network, “This, I believe, allows us to avoid seizures or actions that could be taken against our assets and above all against our employees.”