L’Oréal predicts online sales boom for 2015

L’Oréal predicts online sales boom for 2015

Personal care behemoth L’Oréal has predicted a stand-out year in terms of its e-commerce sales, expecting to book 1 billion euros by the end of 2015.

According to the Director of Investor Relations, Francoise Lauvin, the company is set to join the world’s elite in terms of sales, with the Top500Guide.com reporting only 89 retailers to have pushed the 1 billion euros mark. This would be a leap from 800 million euros in 2014, a 25 per cent rise.

CEO Jean-Paul Agon spoke of the ambitious goal during the brand’s Q2 2015 earnings call, saying, “We have recruited many people, because it’s a complete(ly) new expertise and we want to have the best expertise in the industry. We are recruiting a dream team of digital geeks and experts that can really help us to win the battle. And we are very excited, because we think that it’s going to be, as you say a great competitive advantage.”
Indeed, the company is well on its way to achieving this aim, with the first half of the year with e-commerce attributing for 4 per cent of the company’s sales through to 30 June. This puts the overall figure at 512.8 million Euros.

A boost for the second half of the year is looking likely to be China, with online sales representing 15 per cent of overall sales in the country for the Consumer Products Division.