L'Oréal has reported sales of 5.93 billion Euros for the first quarter, 2013. Overall, the figures showed strong growth in the Consumer Products, L'Oréal Luxe and Active Cosmetics divisions - and a weakness in the Professional Products market.
Jean-Paul Agon, chairman/CEO, L'Oréal stated: "L'Oréal has made a solid start to the year, with good organic growth, along with really significant market share gains. The Consumer Products, L'Oréal Luxe and Active Cosmetics divisions are growing strongly, driven by major innovations such as Olia by Garnier, L'Oréal Paris Advanced Haircare, La Vie est Belle by Lancôme, or Idéalia by Vichy."
Agon continued, "All our brands are on the offensive, and this has enabled the group to post new records for market shares, especially in Western Europe and North America. Growth trends in the New Markets are homogeneous and sustained. The Professional Products Division meanwhile is still being held back by the very difficult market context, particularly in Southern Europe."
Here's how each division posted at the end of March, 2013:
- The Professional Products Division posted -0.4%.
- The Consumer Products Division achieved growth of +6.5% like-for-like and +5.5%, which was driven by the success of its major product initiatives and significant market share gains in key countries.
- The L'Oréal Luxe division has advanced by +7.2% like-for-like and +8.1%. This included the first time consolidation of the Urban Decay brand.
- The Active Cosmetics Division clearly accelerated at +7.2% like-for-like. This is due to the recovery of Vichy and the continuing strong growth of La Roche-Posay.
Agon also commented that the company's recent strategic advances, together with the quality of initiatives across all divisions, will enable L'Oréal to achieve another year of growth in both sales and profits.