DAVOS, Switzerland (Reuters) – French cosmetics group L’Oreal will not be to date seeing any influence from inflation on purchases of magnificence merchandise, its chief govt informed Reuters on Tuesday.

“Up to now we see no influence of inflation and worth impacts on customers’ magnificence consumption,” L’Oreal CEO Nicolas Hieronimus mentioned after talking on a panel on accountable consumption on the World Financial Discussion board within the Swiss Alpine resort of Davos.

Firms making shopper merchandise have been grappling with hovering prices, however L’Oreal mentioned final month that it beat expectations for gross sales within the first quarter of 2022.