Sales of L'Oréal (Thailand) grew by the most in five years during the first half of this year, topping its earlier projection of 21% despite weak consumer confidence, according to ceo Jean Philippe Charrier, who said sales in the first half of this year in Thailand recorded the second strongest performance in Asia after China.
In an interview Charrier said: “Sales of skin care products grew 12%, hair care 7%, hair colouring 12%, make-up 8% and men's products 50%. During that period, Thailand's 46bn ¬baht beauty industry grew only 4-5%.” Charrier said the company had recorded a better performance because it had continuously invested in Thailand over the past several years. “Strong brands, better innovations and strong communication campaigns have also helped the company grow. Thailand still has huge potential, and with our strong team, strong brands and great products, we are very confident that we will achieve 20% growth this year, compared to 13% growth last year."
Charrier added that L'Oréal Thailand remained aggressive and optimistic about its business. “Previously Thai women used only one beauty product just for cleansing. Now the number of beauty products they use has increased to two or three items,” he said. “However, the total is still lower than among women in developed countries who use up to a half a dozen beauty items for cleansing and nourishing their skin.”
This month the company will roll out its Matrix brand to Thailand. Matrix is the leading hair care brand in US salons and is available in 49 countries. It will join L'Oréal's Professionnel and Kerastase salon brands in Thailand and brings the company's total number of beauty brands in the country, marketed through salons, retail stores and hospitals, to 15.