Five Years Post-Coty Deal, P&G Beauty Is Riding Out Pandemic In Style
Procter & Gamble Co.’s Beauty division has weathered COVID challenges exceptionally well thanks to its portfolio mix and the health of its brands going into the pandemic, Beauty CEO R. Alexandra Keith said at the Barclay Global Consumer Staples Conference on 9 September.
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Procter & Gamble says it has catapulted recently acquired brands including First Aid Beauty and Native in a way that few know how, without compromising their unique character. While confident in the futures of those brands and others joining the company – mainly skin care – P&G will change direction as needed, executive leadership said.
P&G’s health care sector’s net sales grew 18% in its latest quarter. Continued growth across its sectors is critical in the face of expected $1.8bn in headwinds from commodity and freight costs in its FY2022.
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.