Luxury market loses oomph

No 10 Lancôme

Lancôme is a French luxury perfumes and cosmetics house. Owned by L'Oréal since 1964, it is part of L'Oréal's Luxury Products division, which offers skincare products, fragrances, and make-up at higher-end prices. Founded in 1935 by Armand Petitjean in France, Petitjean's motive was simple: to create a beauty brand that would deliver French elegance around the world. The name “Lancôme” was inspired by the ruins of a castle, Le Château de Lancosme.

Lancôme cosmetics are seen for sale at a department store in Shanghai, China, October 9, 2009. [Photo/dfic.cn]