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.
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.
L’Oreal said it is counting on consumers rushing back to hair salons to help its business recover quickly once European and U.S. Covid-19 lockdowns are lifted, adding that beauty sales were bouncing back in China.
The French cosmetics giant has announced “a solidarity plan to support all those involved in the fight against coronavirus,” designed to help health carers, food industry professionals and vulnerable individuals.
Maybelline maker L’Oreal said on Thursday China’s coronavirus health crisis would have a short-term hit on its sales in the country and across Asian airports, after a period of booming business in the region.