L'Oreal says sales up 17.7% in China in 2009

11:28, March 07, 2010      

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L'Oreal, the world's largest cosmetics maker, said its sales in the Chinese mainland grew 17.65 percent last year to 8.18 billion yuan (1.2 billion U.S. dollars), a double-digit increase for the ninth straight year in the country.

Sales in China had increased by nearly 14 times between 2001 and 2009, meanwhile the company was gaining more market share, at 11.7 percent in the country last year, up 0.7 percentage points compared to the year before, said L'Oreal China president Paolo Gasparrini Friday in a press conference in Shanghai.

Gasparrini said the company's performance last year in China was better than the average 9-10 percent growth in the cosmetics industry in the country despite the global financial crisis.

He attributed the gain to successful innovations, new product launches and deepening of sales distribution and expansion of new consumer groups by the company.

The company expects L'Oreal customers to increase by 1 more billion in the next five years across the globe with China being an important market.

Earlier the Paris-based L'Oreal Group said its sales worldwide remained flat in 2009 compared to the year before, at 17.473 billion Euros.

Source: Xinhua
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