China, Ukraine And Supply Chain Pain: L’Oréal Shines In Q1 Despite Macro Challenges
Executive Summary
L’Oréal SA says recovery in makeup sales helped drive overall first quarter sales up 13.5%, despite COVID-related lockdowns in China, the Ukraine invasion and continued drag on the US supply chain. The Clichy, France-based company remains optimistic about China, given beauty demand among Gen Zers, and bullish about global skin care as younger consumers flock to the category and brands they can trust.