(Reuters) -Beiersdorf reported 7.1% organic sales growth for the first half of the year on Wednesday, driven by double-digit percentage growth in its flagship skincare brand Nivea.
“Our icon NIVEA led the way with a double-digit sales increase combined with growth across all key regions and categories. These positive results more than offset the recurring headwinds in the challenging luxury market, which were particularly evident in China,” CEO Vincent Warnery said in a statement.
Group sales rose to 5.2 billion euros ($5.7 billion) in the first six months of 2024, from 4.9 billion in the same period last year.
Sales at key businesses Nivea and Derma grew by 11.1% and 8.3% respectively, while luxury brand La Prairie saw its sales drop 7% due to a strong decline in China’s luxury skincare market.
The German skincare company reiterated its 2024 forecast for group sales to grow by 6% to 8%.
($1 = 0.9165 euros)
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