L’Oréal China is set to raise prices for the third time this year in September. The French beauty powerhouse has already increased prices for several brands, including Lancome, Armani, Shu Uemura, and Kiehl’s, in February and July.
A report indicates that L’Oréal’s North Asian division, which includes China, was the only region to experience a decline in sales during the first half of the fiscal year. Revenue in this region fell by 3.1% to €5.47 billion.
Report suggests that the price hike is part of L’Oréal China’s strategy to sustain profitability amidst ongoing weak sales in the Chinese market.
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