L’Oréal has reported its highest quarterly growth rate in 10 years
L’Oréal has reported its highest quarterly growth rate in 10 years, up 7.5 percent like-for-like as its Luxe and Active divisions experienced strong growth in the third quarter of the financial year. The French beauty giant revealed that performance remains contrasted by division and geographic zone, however, it still saw sales climb 6.8 percent like-for-like to reach €19.86 billion over the first nine months of the year.
In terms of geography, the group experienced its strongest growth in new markets, with Asia Pacific in particular, performing well – up 25.7 percent over the quarter. Sales across Western Europe and North America, however, remained flat.
“L’Oréal’s sales have shown strong growth over the first nine months of the year,” said Jean-Paul Agon, Chairman and CEO.
“In a beauty market that continues to accelerate, driven by robust growth in skin care, the group maintains its strong momentum, with contrasted performances between the divisions. L’Oréal Luxe is showing dynamic growth, underpinned in particular by its four biggest brands, Lancôme, Yves Saint Laurent, Giorgio Armani and Kiehl’s. The Active Cosmetics division, which continues to post double-digit growth, is being driven worldwide by consumer aspirations for dermocosmetics and the quality of its brand portfolio. The Consumer Products division is held back by persistent difficulties in some countries. The L’Oréal Paris and Maybelline New York brands are however maintaining their good momentum. The performance of the Professional Products Division, which is continuing its transformation, is stable.
“This quarter also confirms the power of our major global brands, which are delivering an excellent performance at a time when the offer in beauty products is particularly rich.
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