VENEZUELA’S ECONOMIC CHAOS FAILS TO DAMPEN LOCAL APPETITE FOR HIGHER END COSMETICS
May 10th, 2014
Even during the desperate economic times currently afflicting Venezuela, quality personal care products remain vital to its consumers: "Beauty is part of the culture," said Jean Clauteaux, president of L'Oréal's Venezuela section. Unlike neighbouring markets, he said a key characteristic of Venezuelan consumers is their strong demand for high-end products.Regardless of price and or income, Mr Clauteaux noted "it's almost compulsory" for Venezuelans to purchase them.Indeed, the market analysts Euromonitor International confirmed that Venezuelans spent more per ...
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