The world leader in cosmetics saw its sales fall 19.4% in the second quarter, after a decline of 4.8% in the first. It limited to 18.4% the drop in its operating income over the half-year. Jean-Paul Agon, its CEO, explains his confidence in a return to growth in the second part of the year. He wants to participate in the future consolidation of the sector.
Read also: Jean-Paul Agon: "2020 will be a difficult year, L'Oréal will be able to get through it"
LE FIGARO. - The decrease in your turnover quadrupled in the second quarter. Is the worst over?
Jean-Paul AGON. - L'Oréal weathered this period of unprecedented severity very well and suffered relatively little. The decline in sales was limited to 11.7% over the half-year and we still gained market share. April, when all hairdressing salons, department stores and perfume chains outside of China were closed, was the low point, with sales falling by more than 30%. It was an unprecedented situation, with a supply crisis, but no demand: the appetite for beauty products
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