L'Oréal: We won't see the 2008 growth again

L’Oréal Romania, one of the largest cosmetics companies on the Romanian market, posted a 65.1 million-euro turnover last year, 10 million euros more than in the previous year, but expects the growth rate to halve in 2009, and amount to 10% at the most. “The very large number of store openings, combined with Romanians’ appetite for consumption prompted us to record an almost 20% rise last year. We recorded an organic growth, to which hair colouring and hair care products contributed, but we also resorted to new technologies, by launching new product ranges and several marketing campaigns. Our market will rise in 2009, as well, but the dynamics will not be as high any more, amounting to around 10% instead,” Richard Matalon, country manager of L’Oréal Romania, told ZF. The company reported a 6.4 million-euro profit in 2008, from 4.9 million euros in 2007.