L'Oreal is still struggling to kickstart sales growth at its mass market unit that makes products like Garnier shampoo. Such challenges hit the company's shares on Friday even as its luxury brands posted strong revenues.
Booming demand for L’Oreal’s luxury cosmetics brands like Lancome, particularly in China, helped boost the company’s first-quarter sales, offsetting a more wobbly performance in the group’s mass market division.
L‘Oreal, the world’s biggest cosmetics company, beat third quarter sales expectations on Thursday thanks to surging demand from Chinese consumers and strong appetite for Lancome and its other luxury brands.
L'Oréal , the world's biggest cosmetics company, on Thursday posted slightly higher-than-expected sales in the third quarter as luxury brands such as Lancôme and a surge in demand in China drove growth.