Retail in Asia

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L’Oreal posts slower growth in China

L’OREAL, the world’s largest cosmetics group, said growth in China slowed to 7.7 percent last year from that of 10.2 percent in 2013, as consumption growth slowed in China and globally.

The French company’s total sales in China were CNY14.3 billion (USD2.28 billion) last year, as the country remained its third largest market.

Globally, like-for-like sales were up 3.7 percent under fixed exchange rate to EUR22.5 billion.

(Source: Shanghai Daily)