The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — Maybelline make-up manufacturer L'Oreal on Thursday posted a 5% fall in comparable first-quarter revenue, after lockdowns in China and elsewhere to fight the coronavirus pandemic hit demand and sparked store closures.
The French firm — the world's biggest cosmetics company, which is also home to brands like Lancome — said sales in the January to March period stood at €7.2 billion (about $7.8 billion), down 4.3 percent on a reported basis from a quarter earlier.
That marked a 4.8 percent drop like-for-like, which strips out the effects of acquisitions and currency swings, and broadly in line with L'Oreal's latest guidance.
The company said online sales had surged in the first quarter, while demand in China had begun to pick up again as coronavirus restrictions there are eased.
By Sarah White; Editor: Richard Lough
The line, which makes up more than half of the designer’s total business, is revving up its ambitions, with new retail partners and a new category launch: fragrance.
In New York City, leaders from Shiseido, Victoria Beckham Beauty, Aēsop and Glossier joined The Business of Beauty’s executive editor, Priya Rao, to hear her insights on the evolving opportunities in the sector.
Designer collaborations with beauty lines can offer shoppers status, but it’s unclear which party benefits more.
In August, the brand began teasing the launch of its three upcoming scents, Closeness, Rivulets and Bright, Hot, with peel-off fragrance strip samples in customers’ e-commerce orders. The scents, which will launch in October, were made in partnership with natural fragrance maker Robertet.