L'Oreal CEO says no inflation impact so far on beauty product consumption


FILE PHOTO: Staff members work at a counter of cosmetics brand L’Oreal at a shopping mall in Beijing, China November 18, 2021. REUTERS/Tingshu Wang

DAVOS, Switzerland (Reuters) - French cosmetics group L'Oreal is not so far seeing any impact from inflation on purchases of beauty products, its chief executive told Reuters on Tuesday.

"So far we see no impact of inflation and price impacts on consumers' beauty consumption," L'Oreal CEO Nicolas Hieronimus said after speaking on a panel on responsible consumption at the World Economic Forum in the Swiss Alpine resort of Davos.

Companies making consumer products have been grappling with soaring costs, but L'Oreal said last month that it beat expectations for sales in the first quarter of 2022.

(Reporting by Jessica DiNapoli; Editing by Alexander Smith)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

Armenia, Azerbaijan trade new Karabakh accusations
Argentine central bank tightens access to forex market for importers
U.S. strike in Syria targets 'senior' militant -U.S. military
Germany to return stolen Ngonnso' statue to Cameroon
Russia's Medvedev says any NATO encroachment on Crimea could lead to World War Three
French health minister recommends mask use in public transport
EU Council adopts regulation on gas storage
Worst of inflation over, says Brazil's Central Bank president
U.S. reports nearly 330,000 child COVID-19 cases in past 4 weeks
U.S.-listed Chinese firms trade mostly higher

Others Also Read