L’Oreal Q2 Lifted By Consumer Biz Revival And ‘Probably Our Greatest Makeup Launch Ever’
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.
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With US sales in stores up nearly 27% for 2021 through the third quarter, e-commerce sales “have not been slowed down,” says CEO Nicolas Hieronimus. Both channels strong as market conditions cater to in-store and online shoppers, he suggests.
“Through this partnership we want to pioneer scientific innovation,” says L’Oreal’s Barbara Lavernos, president of research, innovation and technologies, who was named deputy CEO in October 2020.
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.