Business
January 30, 2005
L'Oreal doubles sales value in China
L'Oreal, one of the world's largest beauty products firms, doubled its annual sales on the Chinese market last year, the fastest growth of all L'Oreal companies in various parts of the world.
The global sales of L'Oreal came to 14.5 billion euros last year, up by 6.2 percent over the previous year, according to the company's latest sales report.
Since its landing on the Chinese market in 1997, L'Oreal has invested 120 million US dollars to expand its market share. By taking over the Mini-nurse, a popular Chinese cosmetic brand made in Shenzhen, and Yuesai, another Chinese cosmetic brand, L'Oreal sells its products, such as Maybellione and Garnier, to customers though the outlets built by Mini-Nurse and Yuesai.
Driven by a good performance in China, L'Oreal's sale in Asia rose 17 percent last year to reach 1.27 billion euros last year. Its sale in north America rose 8.1 percent to 3.7 billion euros.
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