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

French cosmetics group L'Oreal is not so far seeing any impact from inflation on purchases of beauty products, its chief executive told Reuters on Tuesday.

"So far we see no impact of inflation and price impacts on consumers' beauty consumption," L'Oreal CEO Nicolas Hieronimus said after speaking on a panel on responsible consumption at the World Economic Forum in the Swiss Alpine resort of Davos.

Companies making consumer products have been grappling with soaring costs, but L'Oreal said last month that it beat expectations for sales in the first quarter of 2022.