L’Oreal: 2018 Nine-Month Results Clearly Show ‘It’s Not The End Of The Big Brands’
This article was originally published in The Rose Sheet
Luxury beauty growth shows no signs of slowing, and L’Oreal markets some heavy hitters in the luxury tier. But L’Oreal Paris, Maybelline and other big names within the firm’s Consumer division also are having a superb year, with one noted exception.
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“It's unfortunate, but it's the Darwinian side of this industry,” L’Oreal CEO Jean-Paul Agon said on 16 April while discussing newer players’ prospects for survival through the COVID-19 crisis and L’Oreal’s own first-quarter results – down 4.8% like-for-like, but ahead of the market.
L’Oreal is not only learning new tricks in today’s digital world but continuing to outpace the competitive pack, with sales up double digits in fiscal 2019 to €29.9bn.
The French cosmetics giant continues to benefit from Chinese millennials with voracious luxury appetites, posting 14% like-for-like growth in its Luxe division for the fiscal 2019 first quarter. L’Oreal’s Consumer Products business is improving as well, with a return to growth in Western Europe, while North America continues to struggle.