PARIS, France — Cosmetics maker L’Oréal mentioned on Friday it had reached a settlement with French tax authorities concerning three of its subsidiaries, together with one linked to its luxurious Lancôme model, leading to a cost of round £282.4 million ($351.3 million).
The world’s largest magnificence producer, behind labels like Maybelline and Armani lipsticks, gave no additional particulars in regards to the foundation of the dispute, solely saying it corresponded to a 5 yr interval between 2014 and 2018.
L’Oréal was not instantly out there for additional remark.
The settlement could be mirrored in its 2019 outcomes as an distinctive cost, and would “haven’t any vital recurrent impression sooner or later,” the corporate mentioned in an announcement.
By Matthias Blamont and Matthieu Protard; editors: Sarah White and Chizu Nomiyama.
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