1734 ET - L'Oréal is reducing its exposure to the struggling Chinese beauty market as it pushes its efforts toward growing its sales across emerging markets, CEO Nicolas Hieronimus says at the Consumer Analyst Group of New York conference. China now represents 17% of L'Oréal's total sales in 2024, down from 23% in 2022. "That's allowed us to offset any twist of fate that can happen positively or negatively in this market," Hieronimus says. At the same time, growth in L'Oréal's emerging markets has been accelerating. That has been one of Hieronimus's priorities since he became CEO of the French conglomerate of beauty brands in 2021, he says. Emerging markets represented 36% of L'Oréal's growth in 2024, accounting for 16% of the company's total sales, nearly the same size as the Chinese ecosystem. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 21, 2025 17:34 ET (22:34 GMT)
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