L'Oreal released it financial report for 2011 in Shanghai recently, showing that its sales reached 10.7 billion yuan with an increase of 18% and exceeded the 10-billion mark for the first time. So far the cosmetics company maintained double-digit growth rate for 11 years in a roll. This was another milestone that it achieved in China after it realized 1-billion-euro target inside the group in 2010.
Alexis Perakis-Valat, chief executive officer in China, said, “2011 is an exciting year for L'Oreal making firm steps on its development path in China. We will continue to achieve full development at a speed far higher than the market average and strive to win more market share in the fierce competition. The steady growth is attributed to product innovation, market expansion and sales channel improvement, as well as to the rich brand mix which can satisfy various customer demands.”