L'Oreal Group has announced that its 2008 sales in China showed an increase of 27.7% year-on-year.
The company said although 2008 was a hard year, it had still realized growth in sales volume, market share, and net profit. In addition, the group achieved double-digit growth in the Chinese market over eight consecutive years.
Statistics show that in 2008, L'Oreal Group made revenues of EUR17.5 billion, of which, CNY6.952 billion were contributed by the Chinese market, making China the seventh largest market for the group. Meanwhile, its market share in China increased from 1.2% in 2007 to 10.5% in 2008.
At present, L'Oreal Group has 42 plants around the world. Three of these are in China and cosmetics products produced in the three plants mainly target Chinese local market as well as foreign markets such as Japan, South Korea, and Southeast Asia.