French beauty company L’Oréal has announced that Axel Dumas, CEO of luxury fashion house Hermès, is no longer a member of the company’s board of directors because the upcoming launch of Hermès’ own cosmetics line may represent “a possible conflict of interest”.
Hermès confirmed that it is working on a full range of beauty products, including skin care and cosmetics, to be launched in 2020. Best known for its handbags, including the extremely coveted Birkin, Hermès already operates a successful fragrance business.
In the long term, it will be necessary for them to be present the brand in all three segments of the markets for cosmetics, perfume, makeup and personal care products. The company intends to manufacture all its beauty products in France and Italy rather than licensing out production. Dumas joined L’Oréal’s board in 2018. He will be succeeded by Fabienne Dulac, CEO of French telecom company Orange.