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Euromonitor International predicts China will become the world's largest economy in 2017; emerging markets expected to overtake developed countries in their share of global economy in Purchasing Power Parity terms in 2013.
Chinese consumers have become more price-sensitive, reducing salon and spa visits, but are determined to tackle beauty concerns, and thus the professional market in China is seeing a steady increase.
The fragrance company's largest markets—North America, Western Europe and Asia—saw sales increases of 28%, 24% and 29%, respectively, while Eastern Europe, the Middle East, and Central and South America reported sales increases of 96%, 9% and 41%, respectively.
Estée Lauder’s good performance was broad based, generating local currency sales gains in each of its geographic regions and most product categories.
Nivea recorded sales growth of 5.7% as against the prior-year quarter, and Eucerin generated a 9.4% increase in sales as of the end of the period, while La Prairie saw an 8.2% increase.
Fragrance sales in Europe grew 33% (at constant rates) for the company during the quarter.
The results represent a 19% increase over the same quarter in 2012, and in greater China, Nu Skin's first quarter revenue increased 90% to $175.7 million, with mainland China's local-currency revenue growing 141%.
North America and Asia Pacific drop for Avon, but overall results better than expected.
For its beauty care division, the company recorded net sales of ¥38.559 billion, a 6.2% increase.
Unilever currently owns 52.48% of the company, looking to up that amount to 75%.