Beauty Packaging Staff08.03.20
L’Oréal reported sales of €13.07 billion ($15.35 billion) in the first half of 2020, a decrease of 11.7% like-for-like compared to the prior period.
The consumption of beauty products over the period was strongly impacted by the closure of millions of points of sale (hair salons, perfumeries, department stores, airport stores, etc.) which caused a real crisis of supply, rather than demand, with consumers temporarily unable to purchase products and services, said the company.
Despite this, Jean-Paul Agon, chairman and CEO of L’Oréal commented that the company demonstrated great business resilience. He noted that L’Oréal has seen its activity accelerate month after month since April, and is progressively returning to growth. According to Agon, sales rose in July for the first time since January.
“This business resilience was made possible by several key strengths of the Group,” Agon explained. “First of all, our lead in the field of digital and e-commerce, which proved to be crucial during the crisis and is now even bigger, with e-commerce growing by +64.6% over the first half. L’Oréal's performance in mainland China was also decisive, with growth in the second quarter of +30%.”
In the second half of the year, L’Oréal says it is embarking on an aggressive plan of new product launches and business drivers to stimulate, in partnership with its retail partners, the return of the consumption of beauty products.
The consumption of beauty products over the period was strongly impacted by the closure of millions of points of sale (hair salons, perfumeries, department stores, airport stores, etc.) which caused a real crisis of supply, rather than demand, with consumers temporarily unable to purchase products and services, said the company.
Despite this, Jean-Paul Agon, chairman and CEO of L’Oréal commented that the company demonstrated great business resilience. He noted that L’Oréal has seen its activity accelerate month after month since April, and is progressively returning to growth. According to Agon, sales rose in July for the first time since January.
“This business resilience was made possible by several key strengths of the Group,” Agon explained. “First of all, our lead in the field of digital and e-commerce, which proved to be crucial during the crisis and is now even bigger, with e-commerce growing by +64.6% over the first half. L’Oréal's performance in mainland China was also decisive, with growth in the second quarter of +30%.”
In the second half of the year, L’Oréal says it is embarking on an aggressive plan of new product launches and business drivers to stimulate, in partnership with its retail partners, the return of the consumption of beauty products.
