L’Oréal around the world

Sales in Europe advanced strongly at +8.2 % like-for-like and +9.3% reported. Europe was the largest contributor to growth at Group level.
Sales grew ahead of a market that was dynamic. They advanced in both volume and value terms, even though the value component gradually normalised, as anticipated.
Sales grew in all countries and the Group outperformed the market in most markets, especially the Spain-Portugal, UK-Ireland, and Germany-Austria-Switzerland clusters, and many of the medium-sized countries. The haircare, fragrance and makeup categories posted double-digit growth.
In Consumer Products, growth was driven by the continued strength of  L’Oréal Paris, notably in haircare, the makeup brands  Maybelline New York  and  NYX Professional Makeup, as well as the successful roll-out of mass medical brand  Mixa.
L’Oréal Luxe advanced strongly, driven primarily by the couture brands, including  Yves Saint Laurent  in fragrances and makeup, as well as  Valentino  and  Prada  in fragrances; men’s fragrances remained dynamic.
Dermatological Beauty outperformed its market. All three flagship brands recorded double-digit growth, with  CeraVe  in the lead.  La Roche-Posay  benefited from the successful launch of  Mela B3  and  Vichy  continued to grow, strongly fuelled by the success of  Dercos.
Professional Products also progressed ahead of its market, driven by the ongoing dynamism of  Kérastase  and successful launches from the  Redken  and  Matrix  brands.

Sales in North America grew +5.5% like-for-like and +5.9% reported. In the USA, the Group’s No. 1 country, growth was driven by  continued channel expansion and valorisation.
L’Oréal Luxe outperformed the market, and became No. 1 in the USA, fuelled by the continued dynamism of the fragrance category; key contributors were  MYSLF  by  Yves Saint Laurent,  Born in Roma  by  Valentino, and  Prada. Skincare growth was driven by  Kiehl’s  and  Youth to the People, which benefitted from a strong launch plan and entry into new online channels.
Consumer Products delivered solid growth in haircare, where it outpaced the market, led by  L’Oréal Paris. The Division was adversely impacted by the softness in the makeup category; thanks to the success of  Fat Oil  and  Duck Plump,  NYX Professional Makeup  outperformed the market.
Dermatological Beauty grew in line with the market, boosted by the acceleration in online channels.  La Roche-Posay  continued to advance in double digits, supported by the successful roll-out of  Mela B3; the aesthetics-related brands also progressed strongly with  SkinCeuticals  boosted by the launch of  P-Tiox.
Professional Products outperformed the market, driven by successful innovations like  Première  by  Kérastase  and  Acidic Color Gloss  by  Redken, and the strength of its omni-channel strategy. The recently launched  AirLight Pro  hair dryer innovation is off to a promising start.

Sales in North Asia contracted, -3.2% like-for-like and -3.4% reported.
In mainland China, beauty market growth was negative, strongly impacted by the softness in the selective segment. In this challenging context, L’Oréal demonstrated its resilience, posting a low single digit decline in sales. L’Oréal Luxe, Dermatological Beauty and Professional Products outpaced their respective markets; Consumer Products slightly underperformed the mass market.
In Japan, L’Oréal outperformed a very dynamic market. In Travel Retail, given that sell-out continued to be under significant pressure, notably in Hainan, focus remained on securing healthy inventory levels.
In North Asia, Dermatological Beauty posted double-digit growth; all brands contributed with a particularly strong performance from  CeraVe. Professional Products outpaced the market, boosted by the continued success of  Kérastase. Given the continued challenges in the Chinese ecosystem, sales in L’Oréal Luxe declined and the Division performed in line with the market; in this context, the couture brands including  Yves Saint Laurent,  Maison Margiela,  Prada  and  Valentino  maintained strong momentum. In Consumer Products,  L’Oréal Paris’  sales declined in very low single-digits.
In December, L’Oréal announced the acquisition of  Dr.G., a leading Korean dermo mass skincare brand.

Sales in SAPMENA-SSA grew +12.3% like-for-like and +12.0% reported.
In SAPMENA, growth was broad-based with all categories and Divisions contributing; it was driven by mix and a positive contribution from both price and volume.
By country, key contributors were the Australia-New Zealand cluster, Thailand, Saudi Arabia, Vietnam, and India.
By Division, Dermatological Beauty saw the strongest growth, fuelled by  CeraVe’s  outstanding momentum and  La Roche-Posay’s  successful  Mela B3; Luxe maintained its double-digit rhythm, powered primarily by  Yves Saint Laurent  and  Prada.
The most dynamic categories were fragrances and skincare, the latter driven by Dermatological Beauty and Consumer Products. Growth in haircare, both in mass and professional, was boosted by the continued premiumisation strategy.
Online remained a key growth driver, notably in Saudi Arabia, India and South-East Asia.
Sub-Saharan Africa (SSA) delivered another record year with all countries and Divisions growing in double digits. By category, momentum was particularly dynamic in skincare, followed by haircare and fragrances. By Division, key growth contributors were Consumer Products and L’Oréal Dermatological Beauty.

Sales in Latin America advanced +11.0% like-for-like and +13.3% reported.
Growth was fuelled by well-balanced contributions from value and volume.
Momentum was broad-based by country, led by Mexico and Brazil – the third and sixth largest contributors to growth at Group level respectively. Excluding Argentina, which was negatively impacted by the economic crisis, sales in the region grew +14.7%.
By Division, Consumer Products delivered exceptional growth, with  each of the three international brands contributing; Elvive  further consolidated its position as the top haircare brand in Brazil by value. L’Oréal Luxe achieved robust growth, driven by strong performances in Brazil and especially Mexico, where the market was very dynamic. Haircare remained the fastest-growing category across the three relevant Divisions, followed by makeup and fragrances.
Online remained a key growth driver for the region, boosted by the strong performance of pure players.