PARIS (Reuters) – L’Oreal, the French company behind Maybelline cosmetics and Garnier shampoo, said on Thursday it was back to revenue growth in the third quarter as it performed well with Chinese customers and kept up its product launches.
Like companies in the luxury goods sector, L’Oreal was hit hard by coronavirus lockdowns earlier this year when stores and airport retailers shut down. It was also hurt by hair salons having to close temporarily, as it sells professional products.
But revenues have since recovered in most divisions, including in the mass market unit that produces ranges like Garnier for sale in supermarkets.
Overall sales came in at 7 billion euros ($8.27 billion), for the July to September period, rising 1.6%