# Beiersdorf benefits from bump in Nivea sales
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-04-26
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Beiersdorf boosts Nivea sales by 18% in Q1 2023
Meta Description: Discover how Beiersdorf's Nivea brand achieved an impressive 18% sales boost in the first quarter of 2023 due to strategic price hikes and business
URL: https://financedigest.com/beiersdorf-benefits-from-bump-in-nivea-saleshtml

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# Beiersdorf benefits from bump in Nivea sales

(Reuters) -Beiersdorf’s Nivea brand recorded 18% sales growth in the first quarter of 2023 thanks to price hikes, the German firm said on Wednesday, confirming higher sales across its business year-on-year.

Its Tesa segment eked out organic of 0.9% in the quarter.

Sales to the automotive industry rose by a double-digit percentage, offsetting a weaker start to the year for its electronics business in China, which was affected by lower demand for smartphones and tablets.

Beiersdorf’s luxury brand La Prairie was the only outlier, recording a 12% fall in sales year-on-year, with the [company citing challenging market conditions in China](https://www.financedigest.com/company-registration-in-china-simplified.html "Company Registration in China Simplified") caused by the changes in COVID-19 policies.

Momentum in the business appears very good (volumes up) aside from La Prairie, which should turn materially in Q2 2023,” [Credit Suisse](https://www.financedigest.com/analysis-powerful-swiss-central-bank-faces-reform-calls-in-wake-of-credit-suisse-rescue.html "Analysis-Powerful Swiss central bank faces reform calls in wake of Credit Suisse rescue") commented on the result.

Overall, the [consumer business](https://www.financedigest.com/essity-mulls-selling-vinda-stake-and-consumer-tissue-private-label-europe-business.html "Essity mulls selling Vinda stake and Consumer Tissue Private Label Europe business") unit of Beiersdorf achieved sales of 2.06 billion euros ($2.27 billion), growing by 14.8% year-on-year.

[Shares in Beiersdorf were up 0.3% in early Frankfurt trade](https://www.financedigest.com/how-to-use-algorithms-to-save-time-and-make-money-when-trading-currency-crypto-shares-etc.html "How to use algorithms to save time and make money when trading (currency, crypto, shares etc)").

($1 = 0.9108 euros)

($1 = 0.9090 euros)

(Reporting by Tristan Veyet in Gdansk, Editing by Friederike Heine)


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