Proud of its 20.5% 9-month sales increase, the world’s number 1 beauty company remains confident in the prospects and resilience of the global hair & beauty market.
The current wave of profitability being experienced by the international hair & beauty industry is also confirmed by L’Oréal, which has released its 9-month 2022 results, showing group sales at €27.94 Billion, a solid increase of 20.5%.
All divisions of the company are in clear positive territory: the professional products division reported sales of €3,258.2 Million, an increase of 19.6%. The consumer products division reported sales of €10,258.2 Million, an increase of 15.7%. The L’Oréal luxe division reported sales of €10,483.9 Million, an increase of 22.0%, while the active cosmetics division reported sales of €3,856.9, an increase of 31.5%. These are all similar to the Q3 Results for 2022, which reported sales of €9,575.2 Million, an increase of 19.7%.
Nicolas Hieronimus, CEO of L’Oréal, said:“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. Benefiting from its rebalancing strategy, particularly in terms of geographic footprint, at the end of September the Group reported strong growth of 20.5%, with a significant positive impact of foreign exchange, and 12.0% like-for-like”.
This shows that despite everything, the global beauty market has remained dynamic and consumers’ appetite for beauty products is intact. The combination of a robust business model, agility and team loyalty has allowed L’Oréal to again significantly outperform the market and strengthen its position as the world’s No.1 beauty company.
The figures show a rebalance in the Group’s geographic footprint. All zones made progress, including North Asia, despite the turbulence in the Chinese ecosystem. The other zones achieved double-digit growth, with a significant leap in emerging markets (SAPMENA-SSA, Latin America) and a remarkable performance in Europe. Growth is also balanced across Division, each of which outperformed its market.
The Group is benefiting from its valorisation strategy, rolled out at the start of the year, the effects of which are accelerating particularly in Europe and North America.
Despite current uncertainties, L’Oréal remains confident about the outlook for the global beauty market. It has again confirmed its resilience, as well as its confidence in its power to innovate in order to outperform the market.
