L'Oreal, the world's largest cosmetics group, announced its sales in the first half of this year on July 14, 2011. According to the financial report, as of June 30, L'Oreal achieved global sales of 10.15 billion euros, an increase of 5% over the same period last year. At a constant exchange rate, the increase was 5.9%. The company believes this growth is largely due to strong growth in the Asian and Latin American markets and the steady growth of the North American market.
Compared with the sales in the first quarter of 2011 as of the end of March, this year-on-year growth rate declined slightly. It is reported that in the first quarter of 2011, L'Oreal achieved global sales of 5.16 billion euros, an increase of 9.3% over the same period last year. If calculated by the same company structure and constant exchange rate, the comparable increase is 5.8%. However, analysts said that this is mainly related to the early stage of the economic crisis in early 2010, and the relatively low base.
In the first half of the year, Mr. An Gong, Chairman and CEO of L'Oréal Group, said: “The performance in the first half of 2011 reflects the Group's good growth vigor in the market environment with obvious distribution channels and geographical differences.†Mr. An Gong was appointed as the new chairman and CEO of L'Oreal Group on the board of directors in February 2011 to replace the previous Sir Owen.
An Gong also said that with the overall trend of the global market, plus the intensive market activities of the four major business sectors in the second half of the year, it is full of confidence in the second half of 2011. “We can confirm that we achieved a higher than average market growth target in 2011 and achieved double growth in sales and profits in the new year.â€
According to the semi-annual report disclosed this time, brands such as Lancome and Armani Cosmetics of the Group's high-end cosmetics division have achieved remarkable growth and performed well. The popularity of the Maybelline New York and Paris L'Oreal brands in the global market has enabled the mass cosmetics division to continue to grow steadily. The Professional Hairdressing Division and the Active Health Cosmetics Division are moderately active in relatively inactive markets.
An Gong said L'Oreal is continuing to work on key strategic markets in Asia and Latin America. In Western Europe, where the contrast between countries is more obvious, the group is further consolidating its market position. However, the company also acknowledges that sales trends in the Eastern European market are disappointing, especially in the Russian and Ukrainian markets.
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