PARIS, Sept 8 (Reuters) - L‘Oreal Chief Executive Jean-Paul Agon cut his forecast for full-year growth in the global cosmetics market to between 3 percent and 3.5 percent from between 3.5 percent and 4 percent.
In an interview with French daily newspaper Le Figaro published on Monday, Agon said, however, that the slowdown would not last and that growth would return to a “better rhythm” next year.
The CEO added that 2014 was “rather strange, with a market that is not evolving as expected” in the mass-market cosmetics sector. The mass-market retail cosmetics sector was negative in July and August, he said. (Reporting by James Regan; Editing by Astrid Wendlandt)