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The largest global cosmetics company L'Oreal Group recently announced that in 2008, sales revenue from China reached RMB 6.95bn with growth of 27.7% compared with 2007. This is the eighth year L'Oreal achieved double-digit growth in China.
According to the annual report, L'Oreal Group released recently, its global sales reached EUR17.5bn with growth of 2.8% slowed by the U.S. and European markets. In contrast, China has become the strongest growing market for L'Oreal globally.
L'Oreal also kicked off a new initiative to launch a series of low-priced products, but has not yet disclosed details. In response, L'Oreal China President Paolo Gasparrini said that in view of the global market, the company indeed needs to develop more products with pricing closer to consumers to win more market share.
According to the annual report, L'Oreal Group released recently, its global sales reached EUR17.5bn with growth of 2.8% slowed by the U.S. and European markets. In contrast, China has become the strongest growing market for L'Oreal globally.
L'Oreal also kicked off a new initiative to launch a series of low-priced products, but has not yet disclosed details. In response, L'Oreal China President Paolo Gasparrini said that in view of the global market, the company indeed needs to develop more products with pricing closer to consumers to win more market share.
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