L'Oréal sees ‘strong double-digit’ growth in all zones except North Asia

This is due to a reduction of stock-in-trade in mainland China. 

L'Oréal started the year strong after recording double-digit growth across all geographical zones, except in North Asia. 

The company reported a 30.6% growth in Latin America, followed by SAPMENA-SSA (26.7%), and North America (16.6%). Europe posted a 16% growth, whilst North Asia recorded only 1.9%. 

L'Oréal linked this to the reduction of stock-in-trade in mainland China at the beginning of the year. 

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“L’Oréal has maintained strong growth momentum and posted an excellent first quarter, with sales up +13.0% like-for-like1 and +14.6% reported. Boosted by valorised innovations in all Divisions and the engagement of our teams around the world, L’Oréal has outperformed the market in all geographic Zones and strengthened its leadership position,” Nicolas Hieronimus, CEO of L'Oréal, said.

“This performance, which has yet to benefit from China’s reopening, demonstrates the strength of L’Oréal’s balanced multipolar model.”