Nivea Maker Beiersdorf’s Sales Grow Despite China’s Luxury Slowdown

“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,” chief executive Vincent Warnery said in a statement.

Group sales rose to €5.2 billion ($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 percent and 8.3 percent respectively, while luxury brand La Prairie saw its sales drop 7 percent 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 percent to 8 percent.

By Eva Orsolya Papp and Marleen Kaesebier; Editor: Milla Nissi

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Beiersdorf Warns of Difficult Quarter Ahead in China

While its ultra-premium skincare line La Prairie has gained market share, the local luxury beauty sector is still in decline.