L'Oréal boosted by China sales

 
 

The company was clear about the positive impact that its business in China is having. Photo credit -  L'Oréal

 

French cosmetics giant L'Oréal has revealed strong financial results, boosted by its business in China.

 

Over the third quarter of 2017, the company reported a global overall sales rise of over 5 percent, when compared with the same period last year.

In a press release, the company was clear about the positive impact that its business in China is having:

''In Northern Asia, China is achieving sustained growth, driven by L'Oréal Luxe, and by the strong vitality of e-commerce sales.''

Speaking about the results, Chairman and Chief Executive Officer of L'Oréal Jean-Paul Agon said:

''The highlight of the quarter is the acceleration of our sales in the New Markets, which posted double-digit growth, with strong performances in Asia Pacific, particularly in China, but also in Latin America and Eastern Europe. Western Europe is continuing to deliver a solid performance.''   

''The growth in sales continues to be boosted by our digital lead, particularly with the sustained expansion of e-commerce sales at +31.6%.''

''These good performances strengthen our confidence in our ability to once again outperform the cosmetics market in 2017, and to achieve growth in both our sales and profits."





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