Russian Car Market Shifted Due to Export Ban

Cosmetics company L'Oréal reported a loss, contrasting with Golden Apple's profit increase. L'Oréal's net profit turned into a loss of one billion, while Golden Apple's net profit grew nearly twofold to almost 7.5 billion. L'Oréal's issues are attributed to sanctions, empty shelves, and a business model reliant on luxury brands, leading to sales cannibalization. The Russian Perfume and Cosmetics Association reports a slump among retailers. This comes as China dominates the global EV market and showcases AI technology, while German parties struggle to define their economic identity. Cosmetics retailer L'Occitane will close seven out of every ten stores, representing one in seven of its total locations. This decision comes as the company's net profit has turned into a loss of one billion, while competitor Zolotoye Yabloko's net profit has doubled to nearly 7.5 billion. L'Occitane's problems are attributed to sanctions and empty shelves, stemming from its historical business model. Previously, fresh cars were imported, but now the focus is on vehicles that are profitable for resale within Russia. The costs for importing premium or cheaper cars are similar, but resale prices allow for higher profit margins.