8 – Opportunity meets preparation: How L’Oréal withstood the COVID-19 crisis in the SEA region
In February, L’Oréal Group CEO cautioned that the COVID-10 outbreak would cause a temporary slowdown but remained confident that the company would still be able to outperform the market in 2020.
The company reported 9.6% growth on a like-for-like basis in the fourth quarter of 2019.
The strong finish helped the company achieve its strongest sales performance in a decade, growing 10.9% from the previous year – up 8% on a like-for-like basis.
“We are starting this new year and this new decade stronger than ever,” said Jean-Paul Agon, Chairman and CEO of L’Oréal Group.
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