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L'Oréal posted sales of €10.15 billion for the first half of 2011, reporting strong growth in Asia and Latin America, sustained growth in North America and strong dynamism of its luxury products division.
“Performance in the first half of 2011 confirms the group’s good growth dynamics, in a market that reflects contrasts across distribution channels and geographic zones," said Jean-Paul Agon, chairman and CEO, L'Oréal. "Luxury products are performing well, bolstered by Lancôme, Giorgio Armani and Kiehl’s, which are all proving remarkably robust. Consumer products are recording solid growth, with the global conquests of Maybelline and L’Oréal Paris. The professional products and active cosmetics divisions are posting more modest performances in less positive markets.
"In geographic terms, L’Oréal is continuing to make inroads into the major strategic markets of Asia and Latin America, and is achieving sustained growth in North America. In Western Europe, where there are contrasting trends in different countries, the group is consolidating its positions. After several years of growth, the sales trend in Eastern Europe is disappointing in all the countries of this zone, particularly in Russia and Ukraine. With an overall favorable global market trend, and with a rich program of initiatives in the second half across all divisions, we are tackling the second half of the year with confidence. We can confirm our goal of outperforming the market in 2011, and achieving another year of growth in both sales and profits.”
The complete report is available on L’Oréal's website.