Between January and June 2023, overall sales for the L’Oréal Group amassed to €20.57bn, up by 12%. The company enjoyed success in all regions and divisions – with record growth in Consumer Products and a very strong performance for Dermatological Beauty.
Regionally, Europe saw the most impressive sales growth, but there were also strong results in the US, as well as a sharp recovery in mainland China in the second quarter.
L’Oréal Group said it continued to outperform the global beauty market and that the figures came from both volume and value sales. It also said sales were “balanced between offline and online.”
Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said: “Growth was broad-based across all Divisions, Regions, categories, and channels, once again vindicating our balanced, multi-polar model.”
He continued: “Growth continued to be driven by the dual cylinders of volume and value – 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.”
Consumer Products' "best half year on record"
L’Oréal’s Consumer Products division saw a record six months, with sales of €7.6bn, up by 13%, and driven by both volume and value. The company said the division increased its sales by around €1bn to achieve this record performance.
Europe was the best-performing market, as well as the emerging markets of Mexico, India and Brazil.
According to L’Oréal Group, each of the large Consumer brands grew in double-digits. And all four categories – hair care, makeup, skin care and hair colour – advanced strongly.
Makeup was the most dynamic category, boosted by the newly launched Falsies Surreal Mascara by Maybelline New York, Telescopic Lift Mascara by L’Oréal Paris and Fat Oil Gloss by NYX Professional Makeup.
Skin care recorded double digit growth thanks to L’Oréal Paris’ new Revitalift Clinical Vitamin C SPF50+ fluid and Garnier’s new AHA BHA anti-acne line.
The group said hair care benefited from a premiumisation strategy and Elvive Bond Repair was an especially successful launch for the category.
While in hair colour, Good by Garnier got off to a good start.
Derma beauty saw a “strong contribution from volume and value” sales
Sales in the Dermatological Beauty Division amassed €3.28bn, up by 29.5%. It outperformed the market and saw a strong contribution from both volume and value.
Europe and the emerging markets enjoyed the best performance for this division. While it also outperformed the market in mainland China.
All global brands saw double digit growth.
The division’s number one growth contributor La Roche-Posay maintained its strong momentum, driven by Effaclar, Cicaplast and UVmune 400.
CeraVe performed well in North America and saw strong acceleration in the rest of the world.
Vichy was boosted by the success of Dercos, as well as solid suncare sales.
SkinCeuticals continued to progress and newly acquired SkinBetter Science was “off to a promising start” according to the group.
Sound volume sales growth in Europe
In Europe, L’Oréal sales reached €6.5bn, up by 16.6%. The company saw strong performances in the Germany-Austria-Switzerland cluster, France, the UK, Poland, Turkey and the Nordics. It also said that “growth was fuelled by a sound contribution from value and an increase in volume.”
E-commerce growth accelerated significantly in the region in the second quarter.
Makeup and skincare bolstered growth in the Consumer Products Division.
The Dermatological Beauty Division continued to post very strong growth and significantly outperformed the market, driven by La Roche-Posay and CeraVe.
The group said L’Oréal Luxe strengthened its leadership in fragrances, the largest segment in the European selective beauty market, driven by the ongoing success of Paradoxe by Prada and Libre by Yves Saint Laurent.
The Professional Products Division also continued to make gains in the premium hair care segment.