June 22, 2018 / 6:50 AM / a month ago

Retailer Casino and L'Oreal team up to launch new beauty stores

PARIS, June 22 (Reuters) - French supermarket retailer Casino and beauty products group L’Oreal have teamed up to launch new beauty stores in Paris, in a further sign of retailers’ attempts to win customers in the face of competition from online rivals.

The two companies said in a joint statement on Friday that the new stores - dubbed “le drugstore parisien” - would cover various beauty products and other offerings such as over-the-counter pharmaceutical products.

The first two outlets will open later in June in the 9th and 6th districts of Paris.

Earlier this month, Casino said it aimed to complete 1.5 billion euros worth of asset sales by early next year to cut its heavy debt burden. (Reporting by Sudip Kar-Gupta; Editing by Matthias Blamont)

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