L’Oreal announces sales increase

L’Oreal has recorded a “slight increase” in sales for the first quarter of 2009.

The company announced it had experienced “resilience” in the consumer products and active cosmetics division, as well as the Body Shop.

However, the luxury product arm was strongly impacted by the economic crisis.

Overall, a sales growth of 0.3 per cent was confirmed.

Chief executive officer Jean Paul Agon attributed this partly to the acquisition of YSL Beaute and the strength of brands together with innovations in quality.

“Performances across the divisions are extremely differentiated,” he said. “The group should gradually improve its performances in the course of 2009.”

Five “major strategic thrusts will now be implemented by L’Oreal to get through this period, it said.

These include opening up new product categories, ensuring sustained advertising and reducing costs.

L’Oreal has developed cosmetics for almost a century.