Cosmetics giant L’Oréal is eyeing up fast-growing economies such as Rwanda and Ghana as the European markets are reported to be experiencing shrinking revenues.
While 60% of L’Oreal’s revenue comes from Western Europe and North America, the brand currently has three plants in Africa and the Middle East including one in South Africa and another in Kenya, producing about half of the products L’Oreal distributes in Africa.
According to a report in SeekingAlpha, about 40% of the global cosmetics player’s revenue comes from emerging markets, a 62% increase since 2005, when emerging markets accounted for 25%.
Read more: EU shrinking revenues sees L’Oréal turn to Ghana and Rwanda.
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