For the first quarter of 2014, L'Oreal posted a 2.2 percent decline in sales to 5.64 billion euros ($7.8 billion). According to reports, demand for mass market products are slipping for the international company.
According to Jean-Paul Agon, chairman and CEO of L'Oréal, the divisions have posted contrasted performances. L’Oréal Luxe and the Active Cosmetics Division are maintaining a “very good momentum.” The Professional Products Division is confirming its recovery and has returned to growth in Western Europe and the US.
“Lastly, the Consumer Products Division is, as we had forecast and announced, being held back by North America, because of a high comparison base in the first quarter of 2013, linked to two major launches, and a sluggish trend in the mass-market channel over the first few months of the year,” summed up Agon.
In geographic terms, Western Europe, L’Oréal’s historic foothold, is confirming its renewed vitality, particularly in the countries of Southern Europe, which are in growth for the first time in six years, but also in countries such as Germany, where the Group has posted a good performance. In the New Markets, L’Oréal is recording good growth, particularly in Africa, Middle East and in Latin America.