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Nestle’s stake in L’Oreal is a financial investment, Nestle CEO says

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Reuters

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December 23, 2025

Nestle views its stake in L’Oreal as a financial investment, and while it is regularly reviewed, there is nothing new to report on the matter, Nestle CEO Philipp Navratil was quoted as saying on Tuesday.

Nestle has a stake in L’Oréal – L’Oréal

“This stake is a financial investment ⁠for us,” Navratil told Swiss newspaper Finanz und Wirtschaft in an interview, when asked about the stake. “We ⁠review it time and again with the board of directors, but there’s nothing new to say.”

Navratil, who took the helm in September after a ‍period ‌of unusual turmoil at the company, said Nestle intended to reach its ⁠goal of 4% ‌organic growth as fast as possible. 

“I’m not asking myself what else we need to acquire. What we need are innovations to ‍accelerate growth,” Navratil said. Nestle is sticking to plans to review its water business- for which it is looking for a ‌strategic ⁠partner- ​and its mainstream vitamins and nutritional supplements division, Navratil ⁠added.

“We’re working ​to finalise these deals as quickly as possible, but also with the right details. Both are complex separations,” he said.

The ​CEO said the planned divestitures would help reduce Nestle’s debt levels, noting the firm is also ⁠reviewing its balance sheet to see ⁠what other measures are possible. Ideally, Nestle wants to bring cash flow back towards 10 billion Swiss francs, Navratil said.

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M&S still ‘most trustworthy retailer in UK’ despite devastating cyberattack – GlobalData

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December 23, 2025

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December 23, 2025

It appears M&S can do little wrong in the popularity stakes. A week on from scoring top when it comes to providing AI-assisted Christmas gift inspiration, the high street giant has now been ranked as the UK’s most trusted retailer in 2025.

M&S

Even that summer cyberattack appears to have worked in its favour, proving one thing: “The difficulty shoppers faced in finding comparable alternatives elsewhere during the outage, reinforced perceptions that Marks & Spencer offers products that are genuinely hard to replace”, according to analytics company GlobalData, which surveyed 2,000 consumers. 

By restoring service and offering customers discounts in the aftermath, “the retailer further strengthened its reliability and value proposition”, it added.

“To protect its lead, Marks & Spencer must continue investing in cyber resilience, while ensuring that its quality and value messaging remain a priority”, noted the report.

As a further endorsement for British brands, John Lewis & Partners was placed second while Tesco and Sainsbury’s completed the top five most trusted retailers, with Amazon the only non-UK brand. 

Their inclusion suggests that heritage brands “benefit from familiarity and perceived accountability to UK shoppers”.

It was consistent quality and clear value for money that underpins consumer trust, with 84% and 81% of consumers, respectively, citing these factors as the leading drivers of trust in retailers. 

“These factors reassure shoppers that a retailer is reliable, fair, and worth returning to. Trust is enhanced when retailers deliver consistently positive experiences across stores and channels, backed by reliable customer service”.

Aliyah Siddika, associate retail analyst at GlobalData, added: “Marks & Spencer’s narrow lead in consumer trust over John Lewis & Partners is not guaranteed to remain in 2026. John Lewis & Partners has the infrastructure to communicate its quality and value-for-money message more clearly with its revived ‘Never Knowingly Undersold’ promise, which could help it overtake Marks & Spencer in the future. Notably, John Lewis ranks second despite a smaller store footprint, indicating the strength of its proposition and the potential for further momentum. Marks & Spencer must ensure that it remains committed to its focus on security and promoting its unique, quality-focused own-brand to retain shoppers’ trust.”

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Losses continue for Dunhill but buyer praise hints at possible profits to come

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December 23, 2025

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December 23, 2025

Global luxury giant Richemont reported its UK results earlier this month and now one of its brands, Dunhill (actually, Alfred Dunhill Ltd) has done likewise and what did we find? Ongoing losses for the year to the end of March.

Dunhill

It’s worth pointing out that individual reports such as those filed for an owned company headquartered separately from its parent organisation don’t always tell the full picture for a brand that operates around the world. But with that caveat in mind, here are the figures.

The company reported revenue of £38.6 million, down from £43.8 million in the previous year. And the operating loss was bigger at £59.3 million compared to £47.1 million. The net loss for the financial year was £45.2 million, also a bigger deficit than the net loss of almost £38.5 million 12 months earlier.

While being owned by Richemont, the UK-registered company noted that it’s responsible for the overall maintenance of the brand including determining its global marketing brief and the design of its products.

It said that during the year it received an additional investment of £130 million by way of a share issue to its immediate holding company Richemont Holdings (UK) Ltd. It noted this was to “further invest and develop the Alfred Dunhill brand”.

Frustratingly, there wasn’t much more detail given in the report but it did say that the strategy of the company is to continue to “reinforce the positioning of Dunhill as a leading luxury brand for men”. 

And other developments show that it’s been just doing that in the year in question and in the months since that year finished. 

Back in September, it announced Matthew Ives as its new CEO. He’s a Dunhill veteran but has more recently been SVP chief commercial officer of a non-Richemont business, De Beers London.

He replaced Andrew Holmes, Dunhill COO and CFO, who’d been interim CEO since the beginning of last year. Previous Dunhill chief Laurent Malecaze had been moved to CEO’s chair at Richemont’s Chloé brand.

Dunhill may have been loss-making but it’s been receiving plenty of praise for its recent collections. In June, Harrods’ fashion buying director Simon Longland called it out as one of the strongest collections in that month’s men’s fashion month.

In fact, it has been widely praised since Simon Holloway took the design helm in spring 2023.

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RM Williams arrives in Edinburgh for first Scottish store

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December 23, 2025

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December 23, 2025

Australian bootmaker RMWilliams has opened its first store in Scotland, “marking a significant milestone in the brand’s UK journey” with the Edinburgh store deemed as its first opening of 2026.

RM Williams

Situated in the heart of the city centre, the new George Street store “brings nearly a century of Australian craftsmanship to one of Scotland’s most established and prestigious retail addresses… sitting among architecture defined by endurance, precision and longevity, which are values long shared by RM Williams”.

Designed by Melbourne-based design studio ACRD, the space “balances restraint, craftsmanship and timeless design, with a focus on quality and subtle references to both Australian and Scottish traditions of making”.

The Edinburgh store  “presents a considered expression of the RM Williams world”, offering a range of key services including boot fitting, ongoing repair and restoration processes, complimentary boot polishing, plus embossing or debossing to personalise purchases.

Conceived as a “craft space”, the store offers insight into RM Williams’ approach to “making, highlighting materials, construction and finishing details, and reinforcing the brand’s belief in physical retail as a place for craftsmanship, service and storytelling”.

Karl Wederell , general manager of UK & Europe, said: “Customers from Scotland, and Edinburgh in particular, have supported RM Williams for many years so strategically, it feels right to be opening our first Scottish store.”

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