L'Oréal sales rise with growth across all divisions
L'Oréal has delivered a 6% rise in sales to £26.9 billion (€32.4 billion) for the first nine months of 2024, with growth across all divisions led by dermatological beauty.
The company also reported growth in all regions, except North Asia, where operating conditions remain "challenging".
Europe continued to deliver a particularly impressive performance, with sales up 9.9%. As part of this, all categories grew double-digits, led by haircare and fragrances.
The divisions
The professional products division lifted 4.8%, continuing to expand through its omnichannel strategy with "strong" acceleration in e-commerce and selective distribution.
In the "dynamic" haircare market, growth was fuelled by new product launches from Kérastase and L’Oréal Professionnel.
Meanwhile, the consumer products division saw sales rise 5.3%, with positive growth from volume, price and mix.
Growth was fuelled by strong innovations from L’Oréal Paris, NYX Professional Makeup, Maybelline and Garnier.
L’Oréal Luxe posted growth of 5.3%, with fragrance driving sales thanks to couture brands like Yves Saint Laurent, Valentino, Maison Margiela, Prada and Victor&Rolf.
Sales across dermatological beauty increased 9.8%, led by premium skincare brand La Roche-Posay and the launch of its MelaB3 innovation. CeraVe and SkinCeuticals also saw sales rise, while Vichy maintained its double-digit pace.
Nicolas Hieronimus, Chief Executive Officer at L'Oréal, said:"We delivered solid growth in the first nine months, well-balanced between value and volume, despite multiple turbulences that have negatively impacted our third quarter.
"As anticipated, global beauty market growth has been normalising throughout the year. In the developed markets, this has been driven by a gradual easing in pricing after two years of strong inflation; despite that, underlying market trends remain robust in Europe, and North America – as well as in emerging markets. The situation in the Chinese ecosystem has become even more challenging, but we hope that the governmental stimulus will help improve consumer confidence.
"Overall, the beauty category continues to grow, including in units, demonstrating once again its resilience and long-term potential. L’Oréal continues to outperform thanks to our innovation power, the agility of our teams and our capacity to reallocate our resources towards new growth engines.
"In a context that continues to be marked by economic and geopolitical uncertainties, we remain confident to achieve another year of growth in sales and operating profit and are preparing our own beauty stimulus plan for 2025."
