First-quarter sales at three of L’Oréal’s four businesses have exceeded levels from before the Covid-19 pandemic, putting the world’s biggest cosmetics maker on track for recovery this year.
The French company benefited from strong growth in China, where consumers have put the pandemic behind them to push sales up 38 per cent in the quarter, continuing a years-long run that has made the country its second-largest market after the US.
But the consumer products division, which sells mass-market brands such as Maybelline make-up and Garnier shampoos and is L’Oréal’s biggest, had lower quarterly revenues than a year ago. It has been penalised by consumers turning away from elaborate grooming rituals as they spend more time at home.
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