After a period of flagging sales, Nestle investors may have been hoping the food giant would offload its stake in L'Oreal to fund a programme of share buybacks. In fact, the company has decided to only trim its L'Oreal stake and, in the process, gain full control of a skin health venture between the two sides - a move that underlines Nestle's wise longer-term strategy to target health and wellness in its broadest sense.