July 29, 2021
PARIS (Reuters) – Maybelline owner L’Oreal on Thursday said sales growth had accelerated in the second quarter, as the cosmetics group joined fashion labels in benefiting from booming demand from Chinese and U.S. consumers as COVID-19 lockdowns ease.
The French group, which also owns brands like Lancome and makes Armani make-up, posted comparable sales growth of 33.5% in the April to June period, when stripping out currency swings and acquisitions.
That was up from 10.2% like-for-like sales growth a quarter earlier, when L’Oreal said it was already benefiting as people began to socialise more and get dressed up to go out.
(Reporting by Sarah White; editing by Christian Lowe)