L'Oréal Retains Double-Digit Sales Growth In China Despite Economic Slowdown

L'Oréal reported sales in China grew 12.4 percent to 12.05 billion yuan, or $1.94 billion, in 2012 compared with 2011. Although the company posted its 12^th consecutive year of double-digit sales growth, sales growth in 2012 slowed down by 5.6 percentage point from the previous year's 18 percent. China, which has been the Paris-based cosmetics company's third largest market by sales since 2010, saw its GDP growth slow down to 7.8 percent in 2012.