RI beauty industry not affected by weakening currency:
The beauty industry has not been affected by the global economic slowdown and weakening currency, says a beauty industry executive.
The business development manager of France-based cosmetics giant L’Oreal Indonesia Group luxe division, Venny Septianita, said on Friday that the company’s sales had not been affected in the months when the rupiah weakened.
“There were certain months when the dollar strengthened against the rupiah and it didn’t affect sales. Meanwhile, when the time to pay school tuition came, then we saw some change as they needed to use the money for other needs,” Venny told The Jakarta Post.
Amid the global economic slowdown, the company still saw 39 percent growth in January to April sales compared to last year, she said while declining to reveal the exact sales earnings.
“Women everywhere always put on makeup whenever they go out. That’s why we are still optimistic about having more than 40 percent growth for the rest of the year,” Venny said.
The Indonesian beauty market was worth an estimated Rp 15 trillion (US$1.13 billion) in 2011.