L’Oreal sees over 17% sales growth in North Asia

Sales reached €9.86b in December 2021.

Cosmetics company L’Oreal reported its sales in North Asia grew 17.6% like-for-like to €9.86b in December 2021 despite health restrictions and drops in footfall.

In particular, the company saw a strong double-digit growth in 2021 in mainland China, which was twice the beauty market. In the last quarter L’Oreal China also saw a growth of over 50%, which was linked to the double 11 festival.

“L'Oréal broke all records and reported further market share gains, confirming its brands’ appeal to Chinese consumers,” the report read in part.

“The iconic consumer event established L'Oréal Paris and Lancôme as the beauty market No.1 and No.3”

Moreover, Yves Saint Laurent led in makeup, whilst Kérastase led the field in hair care.

The South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa, meanwhile, saw a 13.9% like-for-like growth.

Sales in Southeast Asia returned to pre-COVID levels in the fourth quarter driven by the “remarkable performance” in Vietnam due to online sales boom.

Pacific countries also recovered, which L’Oreal attributed to stimulate demand. India and Pakistan continued to deliver solid performance. The Gulf region also maintained growth momentum.