L’oreal’S China sales gain 10.2%
L’Oreal, the world’s largest cosmetics group, yesterday said sales in China grew 10.2 percent last year, down from 12.5 percent in 2012, as consumption growth slowed in China and globally.
The French company’s total sales in China were 13.28 billion yuan (US$2.17 billion) last year, as the country remained its the third-largest market. But Alexis Perakis-Valat, CEO of L’Oreal China, expects China to overtake France to become its second-largest market due to wealthier Chinese and a stronger yuan.
It was also the 13th year the firm’s sales in China grew by double digits.
He said he didn’t see consumption to slow sharply in China this year. He added that the firm will invest more in research and development, boost e-commerce sales and expand to smaller cities.
L’Oreal China’s US$843 million takeover of face mask firm Magic Holdings is set to complete in the second quarter.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.