L’Oreal CEO says no inflation impact so far on beauty product consumption

Workers members work at a counter of cosmetics model L’Oreal at a shopping center in Beijing, China November 18, 2021. REUTERS/Tingshu Wang

DAVOS, Switzerland, Could 24 (Reuters) – French cosmetics group L’Oreal (OREP.PA) shouldn’t be to date seeing any affect from inflation on purchases of magnificence merchandise, its chief govt instructed Reuters on Tuesday.

“Thus far we see no affect of inflation and worth impacts on customers’ magnificence consumption,” L’Oreal CEO Nicolas Hieronimus stated after talking on a panel on accountable consumption on the World Financial Discussion board within the Swiss Alpine resort of Davos.

Corporations making shopper merchandise have been grappling with hovering prices, however L’Oreal stated final month that it beat expectations for gross sales within the first quarter of 2022.

Reporting by Jessica DiNapoli; Modifying by Alexander Smith

: .