Stella McCartney switches from L'Oréal to P&G
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Saturday 15 June 2013
Expect no more air-kissing between Stella McCartney and L'Oréal boss Jean-Paul Agon.
The British fashionista yesterday switched the licence to make her perfume from Mr Agon's French beauty group to Procter & Gamble, the giant behind Head & Shoulders shampoo and Gillette razors.
Ms McCartney's fashion and accessories business made a record £3m profit last year, and she took a similar amount as a salary and dividend package.
News of her departure from L'Oréal emerged in May, and there had been speculation that she would join the fragrances giant Coty.
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