L'Oreal looks to U.S. 'land of opportunity' as China disappoints

L'Oreal global flagship store is seen on Nanjing Road on May 8, 2021 in Shanghai, China.The world's largest beauty group L'Oreal said Friday that it plans to become less dependent on the Chinese consumer for growth, instead targeting burgeoning opportunities in the U.S. market."We see the U.S. as the land of opportunity," said CEO Nicolas Hieronimus during an earnings presentation following the release of the company's fourth-quarter results Thursday.Speaking during a Q&A session, Hieronimus described China ...