Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Home » Business » Manufacturing
L'Oreal says China looks beautiful
By Pan Xiaoyi |
March 4, 2009, Wednesday
|
Online Edition
Online Edition
L'OREAL said yesterday sales in China last year jumped almost 30 percent on a year ago and it will increase investment in the country as China outperformed markets in the United States and Europe.
The world's largest cosmetics maker said full-year sales rose 27.7 percent year on year in 2008 to 6.95 billion yuan (US$1.02 billion) in China, after rising 30 percent in 2007.
It is the eighth consecutive year the company witnessed double-digit growth in China, making China the seventh largest market for L'Oreal and the largest in the Asia-Pacific. Its market share in China lifted to 10.5 percent last year from 9.3 percent in 2007.
"2008 was a challenging and eventful year. Despite an adverse economic environment, we managed to achieve an honorable growth in sales and market share. This shows the strongly adaptable and sustainable nature of our business model in China," said Paolo Gasparrini, president of L'Oreal China.
The French company said it would develop more mass-consumer goods to grab a bigger market share and boost sales during the downturn.
Mass-market products better weather the economic recession -- women apparently spend on affordable luxuries as a substitute for more expensive items like clothing and jewelry during times of economic uncertainty.
L'Oreal will introduce its high-end pharmaceutical and herbal brand Kiehl's into China this July.
The world's largest cosmetics maker said full-year sales rose 27.7 percent year on year in 2008 to 6.95 billion yuan (US$1.02 billion) in China, after rising 30 percent in 2007.
It is the eighth consecutive year the company witnessed double-digit growth in China, making China the seventh largest market for L'Oreal and the largest in the Asia-Pacific. Its market share in China lifted to 10.5 percent last year from 9.3 percent in 2007.
"2008 was a challenging and eventful year. Despite an adverse economic environment, we managed to achieve an honorable growth in sales and market share. This shows the strongly adaptable and sustainable nature of our business model in China," said Paolo Gasparrini, president of L'Oreal China.
The French company said it would develop more mass-consumer goods to grab a bigger market share and boost sales during the downturn.
Mass-market products better weather the economic recession -- women apparently spend on affordable luxuries as a substitute for more expensive items like clothing and jewelry during times of economic uncertainty.
L'Oreal will introduce its high-end pharmaceutical and herbal brand Kiehl's into China this July.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
