L’Oreal looking good thanks to emerging markets
The company behind Maybelline cosmetics and Garnier hair products said it pulled in €5.6 billion (£4.6bn) in revenue from January to March. It marks a 9.4 per cent increase over the same quarter last year.
L’Oreal’s reliable revenue growth stems in part from its success in pushing into fresh markets to make up for a slowdown in Europe.
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Hide AdThe quarter marked the first time that the firm’s revenue from those markets – Africa, Asia, Eastern Europe, Latin America and the Middle East – was higher than from Western Europe. Sales in new markets totalled €2.1bn, a 14 per cent increase. Western Europe came in at €1.95bn.
News of the sales growth came a day after L’Oreal signed a product-placement deal with Channel 4 TV series Hollyoaks.