We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

L’Oréal Posts Slower Sales Growth In China, Faces Increased Competition

March 1, 2013: 12:00 AM EST
L’Oréal reported its revenue in China grew 12.4 percent to 12.05 billion yuan ($1.91 billion) in 2012, down from 18 percent in 2011. L’Oréal China chief executive officer Alexis Perakis-Valat said the drop in sales growth rate was due to the slowdown in the country’s cosmetics market. He said, however, that the company will continue growing, particularly in the country’s smaller cities, as well as in the cosmetics market and men’s skincare segment. At present, L’Oréal holds 14 percent of the cosmetics market in China; however, other cosmetics companies have been aiming at the market. Among these companies are Procter & Gamble, which has launched new cosmetics brands in the country, and Estee Lauder, which plans to launch a new brand.
Xu Junqian , "L'Oreal scents success despite slowed growth", China Daily, March 01, 2013, © China Daily Information Co (CDIC)
Domains
China Business
Focus Areas
Sectors
Personal Care
Marketing
Geographies
Worldwide
Asia-Pacific
China
Categories
Companies, Organizations
Earnings Release
Developed by Yuri Ingultsov Software Lab.