L’Oreal SA, the world’s largest cosmetics maker, will be cautious in raising prices in the U.K. to make up for the slump in the pound, Chief Executive Officer Jean-Paul Agon said in the wake of a pricing dispute between Unilever and Tesco Plc. “We will be very cautious to respect both consumers and our relationships with retailers,” Agon told Francine Lacqua at the technology conference 'Hello Tomorrow' taking place in Paris, adding it’s not the fault of customer that some production costs are rising.