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L'Oreal lowered its global beauty market growth forecast for this year.

Nicolas Hieronimus, CEO of L'Oreal, said at an event held by JPMorgan in Paris on Thursday that the company expects the overall growth of the beauty market to slow down this year. He now expects the global beauty market to grow by 4.5% to 5% this year, compared to the 5% growth he predicted earlier this year. In April, L'Oreal announced that same-store sales increased by 9.4% in the first three months of this year, easing concerns about the beauty industry. The company's next quarterly update will be released on July 30th.

環球市場播報Jun 28 03:53 ET