PARIS Jan 16 L'Oreal expects to grow
50 percent faster than the cosmetics market this year, Chief
Executive Jean-Paul Agon told Le Monde newspaper in an interview
published on Thursday.
"(Last year) will have been a good year," the CEO was quoted
as saying. "We have managed to make progress in all our
divisions and in all regions of the world.
"In 2014, we expect to grow 1 1/2 times faster than the
Agon also reaffirmed that L'Oreal had the financial
firepower to enable it to buy back the 29.5 percent stake in the
French cosmetics company held by Nestle, the world's
biggest food company.
Restrictions on Nestle selling down its holdings end in
April, and Agon said L'Oreal was "preparing itself for all the
Agon told Le Monde the shares could be cancelled if L'Oreal
repurchased them, thereby boosting earnings per share for
(Reporting by James Regan; Editing by Blaise Robinson)