Lancome owner L'Oreal defies Chinese slowdown fears [Reuters]
L'OREAL UNSP/ADR (LRLCY)
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loreal-finance.com/eng
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Source: Reuters
Lancome owner L'Oreal defies Chinese slowdown fears - Reuters 3 Min Read PARIS (Reuters) - Robust demand across Asia and especially in mainland China lifted sales at cosmetics maker L’Oreal ( OREP.PA ) in the third quarter, countering fears of a slowdown in the region as young shoppers gravitated towards the French firm’s high-end brands. The group beat revenue forecasts for the period by a large margin and confounded expectations for a slowdown from a quarter earlier, even though momentum in Hong Kong faltered as street protests there put off tourists and consumers. L’Oreal, home to pricier skincare and make-up brands such as Lancome as well as more mass-market labels such as Garnier shampoo, said demand within mainland China was still thriving, and it did well in India and Japan too. “We still see a very strong appetite from the young generation (in China) for luxury beauty products, so we’re confident,” Chief Executive Jean-Paul Agon told a conference call. “Of course it was not
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