THE WHAT? Chief Executive Officer of L’Oréal Groupe, Nicolas Hieronimus has revealed that the French beauty giant has seen ‘no impact’ of inflation and price on beauty consumption so far, according to a report published by Reuters.
THE DETAILS The French Beauty giant’s top executive spoke at the World Economic Forum in Davos. Its first quarter 2022 sales beat expectations.
THE WHY? With consumer products manufacturers grappling with continuing cost rises and shoppers hit by higher prices across the board, you’d expect spend to dampen as consumers feel the pinch. However, going by L’Oréal’s experience, it looks like beauty is a priority.