Head of L'Oréal Romania: In Q1 we tripled our online sales compared to 2018 | Progresiv
L'Oréal Romania, the second-largest player on the local cosmetics market, reported a tripling of online sales in the first quarter of this year compared to the same period in 2018, according to Vanya Panayotova, Country General Manager of the company. 
"Overall, the first quarter of this year was very good for our businesses thanks to investments in brands such as Garnier, Maybelline or L'Oréal Paris. Evolution comes as a continuation of the one in 2018, which was the best year since L'Oréal's launch in Romania", added Vanya Panayotova.
The manager, who took over the French giant's local operations in September 2018, said that one of his priorities is the digital transformation of the company, together with the development of the online channel. The list of medium-term objectives is completed by the launch of new services and technologies for consumers, respectively, a cross-division approach.
This year, the company will continue to invest in its own retail chain, which currently has 13 locations (6 under the Nyx brand, 6 Kiehl's and one Atelier Cologne). L'Oréal Romania will also launch new products across all four business divisions. "Romanians are very curious consumers, they try new products and like to experience. Moreover, I have noticed that they adapt to global trends, but there is a need for education on the skin and hair products", added Panayotova.
According to her estimates, the local cosmetics industry will continue to grow this year even though there is an interesting syndrome. "GDP is rising, inflation is within constant limits, wages are rising, but at the same time there is a sense of instability. However, the consumer confidence index is very high (101), above the European average, so the context is a favorable one", the executive said.
The producer has a 21-year history on the local market, being one of the most important players on the cosmetics market alongside Avon and Beiersdorf. L'Oréal Romania ended 2017 with a turnover of 369.5 million lei, up by 17% compared to 2016, respectively a net profit of 33.9 million lei, according to the latest available financial data.
