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La Prairie Group Posts Fiscal 2009
Posted: April 14, 2010
After a weak start in the first two quarters due to the economic downturn and retailer stock reduction, the La Prairie Group showed steady growth throughout 2009. In the fourth quarter, the company saw an upswing with growth of +10.5% compared with the previous year. With net sales of -8.0%, adjusted to exchange rate effects, the Swiss company, according to its press release, achieved stronger growth than the market average. Total net sales amounted to CHF 375.2 million. Thanks to substantial innovations in the pipeline and focused brand communication, Dirk Trappmann, CEO of the La Prairie Group, is expecting continued growth in the coming months.
"The past year has been really tough for the entire luxury segment," said Trappmann. "The La Prairie Group results exceed the forecasts of our revised 2009 plan, with sell-through figures above the market average. In 2010, the La Prairie Group will once again target growth in a slightly shrinking cosmetics market."
The La Prairie Group is represented internationally in the premium cosmetics segment by 11 affiliates in Europe, the U.S., Asia and Australia. The company sells products in more than 70 markets worldwide, including the Laboratoires La Prairie and Juvena of Switzerland brands.