L'Oréal Luxe grew +4.5% like-for-like, +2.0% reported and has become the global number one in luxury beauty.
Excluding North Asia, which was impacted by the reset of Travel Retail and the market softness in mainland China, L’Oréal Luxe grew in double digits. This was driven by continued investment in its portfolio of complementary brands, as well as its ambitious omni-channel strategy, now including Amazon in the US. The Division has become the global market leader in luxury beauty thanks to its strong momentum in developed and emerging markets and its remarkable outperformance in China. There, the early adoption of Douyin and the ongoing investment in point-of-sale quality paid off.
Fragrances remained the star performer, driven by Yves Saint Laurent with the worldwide blockbuster Libre and the successful launch of MYSLF, as well as Born in Roma by Valentino, Paradoxe by Prada, Wanted by Azzaro and Angel by Mugler. In skincare, ultra-luxury brand Helena Rubinstein passed the one-billion-euro mark, and Takami advanced strongly in the medical luxury segment. Makeup momentum accelerated in the second half of the year, driven by the Couture brands.
More recently added brands like Prada, Takami and Valentino made strong growth contributions. Aēsop, integrated since 30 August, is off to a promising start.
The Dermatological Beauty Division had spectacular growth of +28.4% like-for-like and +25.5% reported.
Dermatological Beauty maintained its outstanding momentum, growing twice as fast as the highly dynamic dermocosmetics market, and delivering its sixth consecutive year of double-digit growth. As a result, sales have more than doubled in just three years.
This was driven by the Division’s unrivalled portfolio of highly complementary brands, its online and offline channel coverage, and its longstanding medical prescription leadership.
Momentum was strong across all regions and well-balanced between developed and emerging markets. In mainland China, the Division significantly outperformed a market that proved resilient.
La Roche-Posay, the number one growth contributor, kept its outstanding pace, driven by the UVmune400, breakthrough innovation in sun care, as well as the successful Cicaplast microbiome renovation. CeraVe continued to advance strongly both in the US, where it is now the number one skincare brand, and in the rest of the world. Vichy reported its best growth in 18 years, while the portfolio of aesthetics-related brands grew in double digits.
L’Oréal Dermatological Beauty places three of its key brands in the top-four most prescribed brands by dermatologists in the world.
Sales in Europe saw outstanding growth of +16.0% like-for- like and +13.7% reported.
Throughout the year, the beauty market was very dynamic, and L'Oréal outperformed across all of its core Western and Central European countries. Thanks to its outstanding progress, the region was the single largest growth driver at Group level for the second year running.
Volume and value both contributed strongly, the latter fueled by mix and price. All categories advanced in double-digits, led by skincare and makeup.
Professional Products continued to recruit new consumers and develop its position in premium haircare thanks to Kérastase and the strong momentum of Série Expert by L'Oréal Professionnel. In Consumer Products, each of the four key brands recorded exceptional growth. L'Oréal Luxe further strengthened its leadership in fragrances, driven by Libre by Yves Saint Laurent now the second largest female women's fragrance in Europe after Lancôme’s La Vie Est Belle and by Paradoxe by Prada. Dermatological Beauty outperformed its market significantly; thanks to the continued strong growth of CeraVe, the Division now has three of the top-four dermo-cosmetics brands in Europe.
L'Oréal continued to strengthen its position in the most dynamic channels: drugstores, e-commerce, and pharmacies.
Sales in North America advanced strongly, +11.8% like-for-like and +9.7% reported.
L’Oréal outperformed a dynamic market, driven by valorising innovations and channel optimisation. Each of the Divisions grew, led by Dermatological Beauty and L’Oréal Luxe.
The Professional Products Division outperformed the market thanks to its well-rounded brand portfolio with Kérastase particularly dynamic. This was backed by its strong innovation pipeline, and its omni-channel focus, where selective channels and e-commerce outperformed.
Consumer Products grew strongly in haircare, boosted by the continued success of the core Elvive and Ever haircare franchises. In a vibrant makeup market, momentum remained strong, supported by a well-filled innovation pipeline across all brands.
L’Oréal Luxe outperformed the market in fragrances, led by Born in Roma byValentino and MYSLF by Yves Saint Laurent. In makeup, Couture brands Yves Saint Laurent and Armani were bolstered by new launches. E-commerce remained dynamic, particularly during the holiday season.
Dermatological Beauty continued its exceptional performance, outperforming the market thanks to the uninterrupted success of CeraVe, now the number one skin care brand in the US, and La Roche Posay. Skinbetter Science maintained strong momentum.
