L’Oreal Says Makeup Will Be Back, But ‘Health Is The Future Of Beauty’
Dermocosmetics was L’Oreal’s biggest growth story in 2020, benefiting from shifting consumer priorities during the COVID crisis and reinvigorated faith in the recommendations of healthcare professionals. Makeup sales tanked, but that could well reverse with the advent of another Roaring Twenties post-pandemic, L’Oreal leadership suggests.
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Maybelline Lash Sensational Sky High Mascara, along with NYX Shine Loud Lip Color and L’Oreal Paris Infallible Fresh Wear 24HR Foundation, were among innovations gobbled up by makeup-hungry consumers in the second quarter, which helped fuel 23% growth in North America in L'Oreal's fiscal 2021 first half.
The New York-based firm reported net sales declines of roughly 10% and 21% for the fiscal 2020 fourth quarter and full year, with COVID-related impacts on color cosmetics weighing heavily on its namesake and Portfolio businesses.