Beauty boom: L’Oreal sales rebound after lockdowns ease

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.

FILE PHOTO: Vials of L’Oreal’s luxury range Kerastase Fusio-Dose hair treatment products are displayed at Cuttour hair salon in Jewel Changi Airport in Singapore, May 24, 2019. REUTERS/Loriene Perera/File Photo

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%

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UPDATE 1-China’s Sept property investment growth quickens, sales ease

* Sept property investment +12% y/y, fastest in over a year

* Sept property sales +7.3% y/y vs +13.7% y/y in August

* Sept new construction starts -1.9% vs 2.4% in August

BEIJING, Oct 19(Reuters) – China’s September real estate investment rose at the fastest pace in nearly 1-1/2 years, supported by robust construction activity as the economic recovery picks up steam after the coronavirus crisis.

Real estate investment in September rose 12% from a year earlier, the biggest jump since April last year when it also increased by the same amount, and quickening from 11.8% seen in August, according to Reuters calculations based on data from the National Bureau of Statistics on Monday.

For the January-September period, property investment grew 5.6% on an annual basis, picking up the pace from a 4.6% gain in January-August.

China’s property market was among the first to recover from the pandemic thanks to

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