[PARIS] French cosmetics and sweetness merchandise big L’Oreal mentioned Wednesday (Feb 9) that its gross sales soared final 12 months, surpassing pre-pandemic ranges, as luxurious manufacturers grew to become its prime sellers.
Gross sales rose by 15.3 per cent from final 12 months to 32.3 billion euros (S$49.6 billion), marginally above the analyst consensus figures compiled by Bloomberg and Factset.
“It’s the biggest progress in 33 years,” chief government Nicolas Hieronimus instructed AFP.
Whereas he famous 2021 was a little bit of an distinctive 12 months given the market was rebounding from the pandemic, L’Oreal’s gross sales have grown 8 per cent from 2019, outperforming the general magnificence market which is simply returning to pre-pandemic ranges.
Hieronimus expressed confidence that L’Oreal would be capable of proceed to outperform the general magnificence market by way of progress. He put progress at 4-5 per cent for this 12 months, L’Oreal’s pre-pandemic progress price.
In the meantime, web income hit 4.6 billion euros, up by greater than 1 / 4 from 3.6 billion euros in 2020 and three.8 billion euros in 2019.
Luxurious merchandise together with fragrances helped drive the gross sales positive aspects, with its top-line labels like Lancome, Yves Saint-Laurent and Giorgio Armani for the primary time beating the mass-market division which incorporates manufacturers Garnier, Maybelline and L’Oreal Paris. AFP