Even when times are tough, women still buy lipstick.If you’re Clarins, maker of fancy French beauty products, that sentiment may be outdated.
On Wednesday, June 26, Financiere FC–the family holding company which controls 64.9% of the cosmetics brand–suspended public trade of the stock at 43.72 euros ($68.90) midday. That’s a 14.47 euro ($22.79) drop from its year high of 58.19 euros ($91.65) on February 1, 2008.
Financiere FC will hold a press conference on Monday, June 30, to discuss the future of Clarins. According to French financial newspaper La Tribune, the family would like to buy out minority shareholders and remove Clarins from Euronext Paris, the second biggest stock exchange in Europe after the London Stock Exchange. Read more…
According to Lauren Sherman