With a remarkable performance in sales which reached €20.57 billion in the first semester of 2023, L’Oréal has reported 12.0% year-on-year growth, outperforming global beauty market, which saw growth of 10%.
These positive results have been possible thanks to a broad-based momentum across all divisions and steady growth in all regions, with a particularly impressive momentum in Europe, strong performance in the United States and a sharp recovery in mainland China in the second quarter. On top of that, L’Oréal has enjoyed a good balance between offline and online sales, plus strong growth driven by both volume and value.
The proof of this exceptional performance comes from Standard & Poor’s Global, which once again awarded L’Oréal 85 points out of 100 in its ESG rating, reflecting the Group’s performance in terms of sustainability.
Commenting on the figures, Nicolas Hieronimus, CEO of L’Oréal, said: “In a beauty market that is more dynamic than ever, L’Oréal has delivered a remarkable performance and further strengthened its global leadership in the first half. Growth was broad-based across all Divisions, Regions, categories, and channels, once again vindicating our balanced, multi-polar model. Growth continued to be driven by the dual cylinders of volume and value – a testament to the success of our innovations and the desirability of our brands. In keeping with our virtuous circle, we improved our profitability, all while significantly increasing investment in our brands. At the same time, in line with our dual ambition of economic and corporate performance, we continued to invest in the transition towards a more sustainable operating model that will ensure long-term value creation. In an economic context that is still uncertain, we remain ambitious for the future, optimistic about the outlook for the beauty market, and confident in our ability to keep outperforming the market and achieve in 2023 another year of growth in sales and profits.”
PROFESSIONAL PRODUCTS PERFORMANCE
In the first half of the year, the Professional Products Division reported continued growth of 7.6% like-for-like and 6.9% reported.
The Division outperformed the market with remarkable growth in mainland China and India, as well as the United Kingdom. It continued to grow in all distribution channels: in salons, in its SalonCentric network (in North America), in e-commerce and in the selective channel.
Growth in the dynamic haircare market was driven by Kérastase, with an excellent start for the Symbiose anti-dandruff range, and by L’Oréal Professionnel, with the success of Metal Detox. The Division performed well in hair colour, thanks to its iconic lines Shades EQ by Redken and Inoa by L’Oréal Professionnel.
