PARIS -- Consolidated turnover for L'Oreal rose 6.9 percent to $6.8 billion (40.12 billion francs at current exchange rates) in 1993.
This figure does not include 1993 turnover from Cosmair, or sales from L'Oreal's Swiss and Spanish agents, but does include certain royalties from Cosmair along with North American duty-free sales.
On a comparable basis, with unchanged company structure and constant exchange rates, sales would have grown 7 percent, the firm said. Cosmetics posted a 7.3 percent sales increase to $5.6 billion (33.04 billion francs), while sales for the Synthelabo pharmaceutical division grew 6.8 percent to $1.2 billion (7.1 billion francs).
In a statement, L'Oreal said year-end profits have not been determined, but that they were expected to have increased "significantly more" than turnover.
Factory sales for cosmetics for L'Oreal, including Cosmair, and the Swiss and Spanish agents, were roughly $7.28 billion (43 billion francs) last year. Cosmair's contribution was not disclosed.
"Cosmair did have an excellent year," said a company spokesman, referring to the factory figures. "The growth in North America helped the group to reach much higher growth than was achieved on a consolidated basis."
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)