Rebound in China sales for L’Oreal

Source: Xinhua | 2018-03-01

BEAUTY and cosmetics giant L’Oreal said its China sales rebounded from mild growth in previous years, registering double-digit growth in 2017 thanks to strong momentum in its luxury beauty brands.

Stephane Rinderknech, CEO of L’Oreal China, said in Shanghai yesterday that he welcomes more imported beauty brands into China as more players would give a wider choice to consumers.

Globally, the group’s like-for-like sales increase was 4.8 percent with a total income of 26.02 billion euros (US$31.8 billion).

L’Oreal has consolidated its leading position in the luxury beauty division thanks to its Lancome and YSL brands.

Despite its success, Rinderknech said L’Oreal intends to boost online-to-offline strategy to drive new retail initiatives, including renovating brand boutiques and opening flagship stores on e-commerce sites such as JD.com and Alibaba’s Tmall.