4 – ‘Remarkable’ rebound: China’s strong Q1 results shows appetite for beauty ‘remains intact’ despite COVID-19 – CEO
In April, French cosmetics company L’Oréal reported that its sales in China had seen progressive signs of recovery since the country was hit by the novel coronavirus (COVID-19) outbreak, 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.”