L'Oreal Q3 sales
This article was originally published in The Rose Sheet
In response to rumors that Avon is on the firm's acquisition radar, CEO Jean-Paul Agon told analysts during a third-quarter sales call that he would not give a direct answer but acknowledged "we have huge opportunities in existing channels." Rumors began circulating last week that the French firm may be interested in the direct seller as a means to increase its exposure in developing markets and enter the direct-selling channel (1"The Rose Sheet" Oct. 18, 2010). In the third quarter, consumer products sales advanced 6.5%, based on comparable structure and exchange rates, to €2.4 billion, due in part to "very strong dynamism" of Maybelline, the firm says. Luxury products were up 5.7% to €1.14 billion, driven by strong sales of Yves Saint Laurent fragrances. Geographically, North America generated sales of €1.13 billion, representing growth of 3.8%, boosted by consumer and luxury products. L'Oreal is seeing its biggest gains in new markets, including Asia Pacific (up 11.5%) and Latin America (up 18.2%). Net sales in the third quarter rose 5.5% to €4.53 billion. To stay abreast of changes in marketing and the digital world, the firm has created a strategic marketing group led by Marc Menesguen, former president of Lancome
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