L’Oréal posted sales growth in the nine months to September 2024, which was “well-balanced between value and volume” driven sales despite multiple turbulences in the third quarter.
The global cosmetic giant posted a 6% like-for-like growth to €32.40bn (£26.94bn) as sales increased across all its categories of professional, consumer, luxe and dermatological beauty in the nine months ending September 2024.
The brand grew in all regions except North Asia with a decline of 3% in like-for-like sales “where operating conditions in the Chinese ecosystem remain challenging”.
Sales in Europe maintained strong growth at 9.3% like-for-like, while North America and Latin America grew 6.9% and 12.3% respectively, in terms of like-for-like sales.
Online sales notably grew faster than offline sales in emerging markets.
Nicolas Hieronimus, chief executive of L’Oréal, said: “We delivered solid growth of +6% in the first nine months, well-balanced between value and volume, despite multiple turbulences that have negatively impacted our third quarter.
“As anticipated, global beauty market growth has been normalising throughout the year. In the developed markets, this has been driven by a gradual easing in pricing after two years of strong inflation. Despite that, underlying market trends remain robust in Europe and North America – as well as in emerging markets. The situation in the Chinese ecosystem has become even more challenging, but we believe in the future of this market and hope that the governmental stimulus will help improve consumer confidence.
“Overall, the beauty category continues to grow, including in units, once again demonstrating its resilience and long-term potential. L’Oréal continues to outperform thanks to our innovation power, the agility of our teams, and our capacity to reallocate our resources towards new growth engines.
“In a context that continues to be marked by economic and geopolitical uncertainties, we remain confident of achieving another year of growth in sales and operating profit and are preparing our beauty stimulus plan for 2025.”
No comments yet