PARIS, France — Online sales of L'Oréal makeup and skincare products had picked up in China in February and were even stronger than a year earlier, Chief Executive Jean-Paul Agon said on Friday.
China is the Maybelline and Lancôme maker's single-biggest market, and like rivals in the luxury goods industry, L'Oréal is bracing for a hit on demand due to the coronavirus health crisis as shops shut down and Chinese customers face travel bans.
L'Oréal has so far offset some lost business through e-commerce sales, Agon said, adding that platforms like Alibaba and JD.com appeared to be "finding solutions" to counter delivery problems in some parts of China.
"Even in February (online) sales were really good," Agon said at the CAGNY consumer analyst conference in Florida. "Sales of beauty products on e-commerce sites are stronger than last year."
By Sarah White; editor: GV De Clercq.