×
350
Fashion Jobs
NIKE
India Logistics Partner Management Manager
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Chatra
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager (up)
Permanent · Mirzapur
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - wb
Permanent · Cooch Behar
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
MUTHOOT FINCORP LTD
Area Manager - Chennai
Permanent · Chennai
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
ZASHED FASHIONTECH PVT. LTD.
Head of Sourcing
Permanent · NEW DELHI
ZASHED FASHIONTECH PVT. LTD.
Head of Production & Merchandising
Permanent · NEW DELHI
SUHANIPITTIE
Assistant Marketing Manager
Permanent · HYDERABAD
VIJAY SYSTEMS ENGINEERS PVT LTD ( UMBERGOAN)
Production Manager
Permanent · Vapi
VIDVAS HR SOLUTIONS PRIVATE LIMITED
sr Manager - Production . Only Leather Bags Exp - Chennai
Permanent · Chennai
SHREE SADGURU MASALA & SPICES IND PVT LTD
Regional Sales Manager
Permanent · Navi Mumbai
MAGNATEK ENTERPRISES
Looking For Area Sales Manager
Permanent · Chennai
BANDHAN LIFE SCIENCE PRIVATE LIMITED
Area Sales Manager
Permanent · Kolkata
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Ludhiana
FIRST SOLUTION
Agency Development Manager/Recruitment Development Manager(Insurance)
Permanent · Pune
NCL INDUSTRIES LIMITED (BISON PANEL)
Area Sales Manager - Hyderabad (Boards Division)
Permanent · Hyderabad
LN GLOBAL CAREER SERVICES LLP
Required Regional Sales Manager For Pharmaceutical Company
Permanent · Chennai
LN GLOBAL CAREER SERVICES LLP
Required Zonal Sales Manager For Pharmaceutical Company
Permanent · Chennai
LEVI'S
Group Product Manager
Permanent · Bengaluru
By
Reuters
Published
Feb 7, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

L'Oreal sees China virus temporarily weighing on sales in Asia

By
Reuters
Published
Feb 7, 2020

Maybelline maker L’Oreal said on Thursday China’s coronavirus health crisis would have a short-term hit on its sales in the country and across Asian airports, after a period of booming business in the region.


Gigi Hadid for Maybelline - Photo: Maybelline - L'Oréal



Thriving appetite from Chinese consumers for luxury creams such as L’Oreal’s Lancome range has fueled sales growth at the group, which exceeded expectations in the fourth quarter.

Business across Asia even picked up pace in the last three months of the year in spite of street protests in Hong Kong that have forced some retailers to close and caused luxury goods firms’s revenues there to plummet.

L’Oreal’s Chief Executive Jean-Paul Agon cited a “remarkable end to the year in China, but also good growth in South Korea, India, Indonesia and Malaysia” to explain the performance.

He cautioned, however, that the health scare “will have a temporary impact on the beauty market in the region and therefore on our business in China and travel retail in Asia, even if it is too early to assess it.”

The outbreak has killed over 500 people in China so far, and is leading to travel restrictions that could affect beauty sales in airport duty free lounges, where many firms do business.

Earlier on Thursday Clinique-owner Estee Lauder trimmed profit forecasts for its 2020 fiscal year due to the coronavirus scare.

It also posted better-than-expected quarterly results however, also carried by strong Chinese demand.

L’Oreal said revenue reached 7.9 billion euros ($8.67 billion) in the October to December period, up 11.4% on a reported basis and rising 9.6% like-for-like, which strips out acquisitions and currency swings.

That was up from like-for-like growth of 7.8% in the previous quarter, and several analysts had expected L’Oreal’s fourth-quarter performance to be similar.

For the whole of 2019, L’Oreal’s net profit rose 9.3% to 3.98 billion euros, and its operating margin increased to 18.6%, from 18.3% a year earlier.
The company is due to hold a news conference on Friday.

 
FILE``

© Thomson Reuters 2021 All rights reserved.