THE WHAT? Beiersdorf has confirmed that it achieved an organic sales increase of 12.2 percent in the first quarter of fiscal 2023. The German skin care manufacturer said that its Nivea brand, in particular, had an ‘outstanding’ first quarter.
THE DETAILS Indeed, Nivea put on 18 percent thanks to a strong performance in Europe and Emerging Markets, while the ‘consistently successful’ Derma business gained an impressive 26.9 percent with a Eucerin and Aquaphor getting a special mention. La Prairie, however, lost 12 percent due to challenging market conditions in China.
THE WHY? CEO Vincent Warnery, explains, “Beiersdorf had an excellent first quarter. Our efforts to transform Nivea are clearly paying off: our brand icon grew in all regions and March was actually the best month in the history of the brand. With strong, double-digit sales growth, Nivea in Europe and in the Emerging Markets, along with our successful Derma business, compensated for a difficult quarter at La Prairie – one that was negatively impacted by the effects of the Corona lockdown in China. That clearly shows that we’re like a four-wheel drive vehicle: If one wheel loses traction, the others will keep the vehicle moving forward. That gives us even greater stability and security in times shaped by volatility and crises.”