The French luxury group L’Oréal recorded this Thursday during the revelation of its quarterly results an increase of more than 20% of its sales in the third quarter of 2021, a figure that exceeded expectations.
The demand remains strong for the luxury field, and this has played in favor of L’Oréal. The group that owns Armani and Lancôme is enjoying very good results, up more than 20%.
It must be said that the brand has not been idle in recent months: they took advantage of the Covid-19 pandemic to expand their e-commerce channels, and then managed to make the reopening of their stores profitable.
However, the pandemic has not made things so simple : mainland China has suffered from some regional restraints on sales of hair and skin care products, areas dear to L’Oréal, which may have limited potentially even bigger numbers for the luxury group.
The company reported sales up 13.1% from July to September, which exceeded analysts’ forecasts. Deutsche Bank, for example, had expected growth of about 8%, fearing that demand would falter following a post-containment boom.
Sales had climbed 33.5% in the previous quarter, when L’Oréal benefited from booming Chinese and U.S. demand amid easing health restrictions.
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