L’Oreal’s Asian sales overtake Europe for first time
China factor: A L’Oreal employee checking the solidity of a lipstick at the Pudong L’Oreal Research Centre in China. The shift for the maker of products like Maybelline mascara and Acqua di Gio Armani cologne is the latest example of how French companies have become increasingly dependent on Asia - and particularly China - to maintain growth.
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L’Oreal SA got more revenue from Asia than from western Europe for the first time last quarter as the region’s surging demand for luxury products continued to resist the drag of a slower Chinese economy.
The shift for the maker of products like Maybelline mascara and Acqua di Gio Armani cologne is the latest example of how French companies have become increasingly dependent on Asia - and particularly China - to maintain growth. Ten years ago, L’Oreal’s Asian sales were less than a third of those in its home market of western Europe.
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