UPDATE 2-Luxury cosmetics boost fourth-quarter sales at L'Oreal [Reuters]
Sanofi - American Depositary Shares (SNY)
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Source: Reuters
Luxury cosmetics boost fourth-quarter sales at L'Oreal | Reuters 4 Min Read PARIS (Reuters) - Strong demand in Asia for L‘Oreal’s ( OREP.PA ) luxury cosmetics like Lancome fueled sales growth in the fourth quarter, as the world’s biggest beauty products maker faces more muted appetite for its mass market labels, especially in the United States. Make-up brands around the world are tapping into booming demand from a growing Chinese clientele and from young consumers often influenced by trends they spot on social media. Demand for premium skin or hair care products is also on the rise alongside a broader revival in the luxury goods industry equally driven by Asian consumers. L‘Oreal and major rivals like U.S.-based Estee Lauder ( EL.N ) are reaping the benefits even though the French firm makes most of its money from its lower-end consumer products, like Garnier shampoo and Essie nail varnish. L‘Oreal’s mass market business grew three percent in the fourth quarter, year-on-year, crim
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