French cosmetics maker L'Oreal on Tuesday reported its China sales rose 30 percent to 523 million euros (777.4 U.S. million dollars) in 2007, the seventh consecutive year of double-digit growth.
The rapid increase pushed L'Oreal's global sales up 8 percent to 17.1 billion euros last year. In Asia, its sales rose 14 percent to 1.6 billion euros.
"Compared with the mature European and American markets, Chinese people have spent much less on cosmetics every year," said L'Oreal China President Paolo Gasparrini. "The great market potential here will make China the biggest market of L'Oreal in the future."
L'Oreal entered the Chinese mainland market in 1996 and its has since become one of its top-10 markets globally. Currently, 14 of its 19 global brands, as well as two local brands, are on the domestic market.
Source:Xinhua
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