3 – ‘Remarkable’ rebound: China’s strong Q1 results shows appetite for beauty ‘remains intact’ despite COVID-19 – CEO
French cosmetics company L’Oréal reported in April that its sales in China saw progressive signs of recovery since the country was hit by the COVID-19outbreak, potentially signalling that the cosmetics market was headed for a quick recovery post-pandemic.
L’Oréal was able to rebound quickly to achieve growth in China in March, leading to a positive first quarter for the company.
Chairman and CEO of L'Oréal Group, Jean-Paul Agon highlighted that the company’s performance in China was “remarkable”.
“China was able to close the quarter at plus 6% which is pretty amazing when you think about the difficulty that they had due to the pandemic.”
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