L’Oréal Outperformance in Q1 with Sales Up 13%

L’Oréal, the French beauty giant, announced that the company delivered a successful performance in Q1 with sales up 13% to €10.38 billion ($11.38 billion).

---

L’Oréal, the French beauty giant, announced that the company delivered a successful performance in Q1 with sales up 13% to €10.38 billion ($ 11.38 billion), beating the market’s expectation of 8.08% growth.

L’Oréal continued its remarkable performance with growth in all division and all geographic Zones.

In terms of business division, the Professional Products Division posted strong growth with 7.6% like-for-like and 9.8% reported. The Division continued to perform in all distribution channels.

The Consumer Products Division also delivered an outstanding start with growth of 14.7% like-for-like and 15.7% reported. Each of the Division’s global brands recorded double-digit growth and outperformed the market. Makeup was the fastest growing category.

L’Oréal Luxe Division posted growth of 6.5% like-for-like and 7.7% reported in Q1. The company said that rapid growth was due to the outperformance of its most dynamic category fragrances, which was driven by the success of Yves Saint Laurent and its three main pillars Libre, Y and Black Opium.

While the Dermatological Beauty Division reported growth of 16.0% like-for-like and 16.6% reported.

In terms of geographic zones, SAPMENA – SSA saw a remarkable growth of 26.7 % like-for-like, leading all the geographic zones. L’Oréal pointed out that sales growth was driven by Australia and the rebound in tourism in Thailand.

Latin America ranked second with growth of 22.3% like-for-like. L’Oréal said Brazil and Mexico contributed most for the growth. Makeup sales accelerated significantly, driven by the outstanding performance of Maybelline New York.

Followed by North America and Europe saw 16.6% and 16.0%% growth like-for-like respectively. L’Oréal pointed out the European beauty market remained dynamic in the first quarter, driven by the makeup, fragrance and skincare categories. While Maybelline New York and L’Oréal Paris in makeup, Garnier in skincare and L'Oréal Paris in haircare contributed to the growth in North America.

Despite the decline in China, L’Oréal also saw growth of 1.9% like-for-like. The company pointed out that from February, Chinese consumer demand for beauty resumed, as did footfall in brick-and-mortar. Its unrivalled brand portfolio coupled with its omnichannel strategy allowed L’Oréal to outperform the Chinese market, demonstrating once again its ability to navigate uncertainty with agility.