L’Oréal reports 6% growth ‘despite turbulences’
The French cosmetics giant remains confident to achieve another year of growth in sales and operating profit
Print25 October 2024
L’Oréal has reported a solid growth of 6% in the first nine months, ‘well-balanced between value and volume, despite multiple turbulences that have negatively impacted its third quarter.
In its latest financial results the French cosmetics giant noted that anticipated, global beauty market growth has been normalising throughout the year.
Commenting on the results, Nicolas Hieronimus, CEO, L’Oréal, said: “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 believe in the future of this market and hope that the governmental stimulus will help improve consumer confidence.”
Beauty category growth
Hieronimus highlighted that 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,” he added.
“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.”
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