L’Oréal Paris is emerging from the economic crisis with strong first-half results. According to the Chief Executive Officer, Jean-Paul Agon, L’oreal Paris, “We have returned to organic growth and are conquering global markets at a faster pace. The results for the first half have been extremely positive from every point of view. Once again, the world cosmetics market is growing. It is developing by about 4 percent and will continue to do so at about the same rate for the rest of this year. We want to win market share in the consumer segment. We are having significant market share wins in make-up and are doing very well with Wal-Mart. In luxury too, we are confident as all the big initiatives that produce the success of that division in Western Europe are now going to be rolled out in North America, and for professional products we are positive because Inoa will be the driving growth with Matrix already doing well.” L’Oréal’s first-half net profits rose 21.2 percent to 1.32 billion euros, or $1.75 billion at average exchange, for the period ended June 30.
Source: www.wwd.com
