By  on August 30, 2012

PARIS — The beauty industry is not immune to economic woes, which have recently dampened demand for luxury in certain regions.

But the outlook is still bright.

“We believe that the cosmetics market should remain buoyant, even though over the summer we noted some obvious signs of slowdown,” Jean-Paul Agon, L’Oréal chairman and chief executive officer, said Wednesday while addressing financial analysts and journalists the day after the French beauty giant reported that its profit margins contracted in the first six months of 2012.

“Our performance during the first half of the year has grown strongly,” he said, even as shares in L’Oréal took a tumble and at least one investment firm downgraded the stock.

 

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