French cosmetics giant L'Oreal says 1st quarter sales up 14 percent on strong upscale demand

IndustriesAssociated Press

French cosmetics giant L'Oreal says it pulled in 6.44 billion euros ($6.9 billion) in sales in the first quarter, 14 percent higher than a year earlier thanks to double-digit growth across its range of high-end and mass-market beauty products.

The maker of Maybelline mascara and Garnier hair care products says its sales for the January-March quarter were lifted by a 20.1 percent rise in its upscale L'Oreal Luxe division.

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L'Oreal Luxe, which markets Lancome, Kiehl's and other skin care, make-up and perfume brands, performed especially strongly in China, the company says.

In Western Europe, L'Oreal's largest region by sales, growth was only 4 percent.

Last year L'Oreal sales rose 1.8 percent to 22.5 billion euros. The company says it's on track for higher sales and earnings in 2015.