L'Oreal, the world's biggest cosmetics group, forecast a strong rebound in makeup sales when the COVID-19 pandemic gives way to a "roaring 20s" when people get dressed up and go out again to socialise.
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.
French cosmetics company L'Oreal is set to name deputy Chief Executive Officer Nicolas Hieronimus as its new chief, replacing long-time boss Jean-Paul Agon, French newspaper Le Figaro reported late on Tuesday.
L'Oreal 's Chairman and Chief Executive Jean-Paul Agon said on Tuesday he expected the cosmetic group's nominations committee to propose a candidate to succeed him by the autumn as his mandate expires.
Purchases of cosmetics have picked up strongly again, particularly in China, as some countries exit coronavirus shutdowns that forced hair salons and retailers to close, L'Oreal Chief Executive Jean-Paul Agon said.
L'Oreal aims to cut out non-recycled plastic packaging by 2030 and bring in greener products like solid shampoo bars under its flagship Garnier brand as it steps up an environmental push, it said on Thursday.
The luxury industry is assessing the first effects of the relaxation of lockdown regulations in China. Most shops have been reopened since around a month and a different market appears to be emerging after the crisis.