L’Oréal Reports Sales of $27.3 Billion

The L’Oreal Group’s sales in the third quarter to $27.3 billion, an increase of +20.5%.

 

“In a context of unprecedented volatility, marked by the public health restrictions in China and inflation in the Western world, L’Oréal achieved a very solid quarter, continuing at a steady pace of growth compared to 2019,” said CEO Nicolas Hieronimus. 

 

At the end of September, the group’s +20.5% growth reflects a significant positive impact of foreign exchange, and +12.0%m like-for-like, Hieronimus said.

 

“The global beauty market remained dynamic, and consumers' appetite for beauty products is intact. The combination of a robust business model, agility and the commitment of its teams across the world allowed L'Oréal to again significantly outperform the market and strengthen its position as the world’s No.1 beauty company,” said Hieronimus. 

 

The CEO said the group is benefiting from its valorization strategy, rolled out at the start of the year, the effects of which are accelerating particularly in Europe and North America.

At the end of September, the professional products division recorded growth of +10.9% like-for-like and +19.6% reported. Strengthening its leadership in the professional beauty market, the division grew in all geographic zones, with outstanding performance in India, mainland China, Brazil and Germany. The division continued to perform in all distribution channels: in salons, in its SalonCentric network in the United States and in e-commerce, again confirming the success of its omnichannel strategy.

 

In the buoyant haircare market, the division growth was largely driven by the performance of Kérastase and the sustained growth of Serie Expert by L’Oréal Professionnel with Metal Detox. The division also recorded growth in hair color with its iconic lines Shades EQ by Redken and Inoa by L’Oréal Professionnel.

 

Following a remarkable increase of +10% in the third quarter, the Consumer Products Division posted strong growth of +8.7% like-for-like and +15.7% reported over the first nine months.

The division’s premiumization strategy and valorization contributed to the acceleration in growth. Overall performance was boosted by the SAPMENA-SSA and Latin America Zones, with spectacular gains in India and Mexico; the Division also recorded solid growth in the United States and Europe.

 

All major brands contributed to this impressive performance, thanks to cutting-edge innovations across key categories. Makeup spearheaded the division’s success, with powerful launches including Superstay Vinyl Ink lipstick by Maybelline New York and Bare With Me concealer serum by NYX Professional Makeup. Haircare was also a major source of growth for the Division, led by L'Oréal Paris and the global rollout of Elvive Hyaluron Plump. Hair colour accelerated, and skincare maintained its steady momentum, driven by the success of Garnier, in particular the new Vitamin C Brightening Serum.

The division relies on strong pillars and has continued to innovate in all three categories. In the booming fragrance market, L’Oréal Luxe confirmed its global leadership thanks to blockbusters such as Libre by Yves Saint Laurent and La Vie est Belle by Lancôme, as well as promising launches including Paradoxe by Prada and Armani Code. The upsurge in collection fragrances continued with Replica by Maison Margiela and Armani Privé. In skincare, the division capitalized on strong innovations, including Lancôme Rénergie Triple Serum, and maintained its tremendous momentum in the ultra-premium segment with the success of Helena Rubinstein and Lancôme Absolue. In North Asia, Takami recorded significant growth. Lastly, in makeup, Yves Saint Laurent, Lancôme and Shu Uemura all reported solid performance.

At the end of September, the division continued to achieve outstanding growth, at +22.6% like-for-like and +31.5% based on reported figures. Deepening its partnership with healthcare professionals, the Active Cosmetics Division strengthened its recommendation-based model and grew much faster than the dermocosmetics market. The division achieved double-digit growth in all Zones, with remarkable performance in North America, Europe and SAPMENA–SSA.

 

La Roche-Posay remained the primary contributor to growth, driven by its main pillars Cicaplast and Effaclar, the sun protection gamechanger UVMune 400 and the successful launch of Pure Niacinamide 10 serum. CeraVe remained the division’s fastest growing brand, with a contribution to growth balanced between North America and the rest of the world. Vichy posted double-digit growth, spurred by the success of the Dercos haircare franchise, the anti-aging sunscreen innovation Capital Soleil UV AGE Daily, and Neovadiol. 

 

Skinceuticals accelerated in the third quarter, fueled by the excellent performance of A.G.E Interrupter anti-wrinkle cream, and by growth in the professional medical channel.

 

In October, the division finalized the acquisition of Skinbetter Science, a US physician-dispensed skincare brand backed by cutting-edge dermatological research.