10.25.23
L’Oréal is #1 on our Top Global Beauty Companies 2023 report.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands and latest innovations.
L’Oréal LUXE: Lancôme Paris, Kiehl’s, Giorgio Armani, Yves Saint Laurent, Biotherm, Helena Rubinstein, Shu Uemura, It Cosmetics, Urban Decay, Ralph Lauren, Mugler, Viktor&Rolf, Valentino, Cacharel, Azzaro, Diesel, Yuesai, Atelier Cologne, Maison Margiela, Prada, Youth to the People, Aesop (acquisition).
CONSUMER PRODUCTS: L’Oréal Paris, Garnier, Maybelline, NYX, Stylenanda, Essie, Dark and Lovely, Mixa, MG, Niely.
DERMATOLOGICAL DIVISION: La Roche-Posay, Vichy, CeraVe, SkinCeuticals, Skinbetter Science.
PROFESSIONAL PRODUCTS: L’Oréal Professionnel, Kérastase, Redken, Matrix, Pureology
Across its divisions, the L’Oréal Luxe unit accounted for $15.7 billion (38.3%) of its sales, followed by Consumer Products $15 billion (36.6%), Active Cosmetics $5.5 billion (13.4%) and Professional Products $4.8 billion (11.7%).
Geographically, Europe was the company’s strongest region with $12.2 billion in sales (29.9%, up 12.3% over previous year), followed closely by North Asia $12 billion (14.8%, up 29.6%), North America $10.8 billion (26.6%, up 24.6%), South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa $3.2 billion (7.7%, up 28%), and Latin America $2.5 billion (6.2%, up 34.1%).
The company’s L’Oréal Luxe unit’s strong growth was attributed to strong fragrance performance driven by global bestsellers like Libre by Yves Saint Laurent, La Vie Est Belle by Lancôme and Acqua di Gio by Armani, as well as launches including Prada Paradoxe. In skincare, Luxe grew three times faster than the market, spurred by the ultrapremium segment and stellar performances from Helena Rubinstein, Lancôme’s Rénergie H.C.F Triple Serum, and the success of recent acquisitions including the Japanese brand Takami. The unit’s makeup category also grew thanks to initiatives from Yves Saint Laurent and Urban Decay.
L’Oréal Consumer Products division posted its best growth in 20 years, with all major brands outperforming the market. Growth was attributed to haircare innovations like Elvive Hyaluron Plump, and makeup launches like Superstay Vinyl Ink by Maybelline New York and Bare With Me concealer and Jumbo False Eyelashes from NYX Professional Makeup. In skincare, Garnier was the Division’s top growth contributor, with its Vitamin C Brightening Serum a standout success.
Led by mainstay “dermocosmetics” brands, L’Oréal’s Active Cosmetics division (now called L’Oréal Dermatological Beauty) ended 2022 with +21.9% like-for-like growth, and double-digit growth across all geographical zones. Division-leading brand La Roche-Posay and CeraVe contributed equally to the unit’s growth. La Roche-Posay was sustained by its pillar products, Cicaplast and Effaclar, and by the success of the UVMune 400 breakthrough innovation in sun protection. CeraVe continued to expand internationally, achieving growth in both the United States and the rest of the world. Vichy maintained its strong momentum thanks to Dercos and the Capital Soleil UV franchise in both seasonal and daily sun protection. On the aesthetic front, SkinCeuticals recorded double-digit growth, fuelled by the excellent performance of A.G.E Interrupter antiwrinkle cream. The newly acquired brand Skinbetter Science, integrated into the division in the fourth quarter, also showed promising potential.
L’Oréal’s Professional Products division recorded strong growth spurred by Kérastase, whose sales exceeded the symbolic one-billion-euro mark for the first time, and Série Expert by L’Oréal Professionnel, with the success of the Metal Detox innovation.
Growth was also aided by Shades EQ by Redken and Inoa by L’Oréal Professionnel.
2022-2023 Highlights: In 2022, Mugler celebrated the 30-year launch anniversary of Angel and, inspired by the brand’s “fragrance fountain” approach enabling consumers to refill their fragrance bottles at points of sale, L’Oréal expanded the concept to include a refill option for more of its iconic fragrances including My Way and Acqua Di Gio by Giorgio Armani, La Vie est Belle by Lancôme and Paradoxe by Prada.
At the end of December, L’Oréal USA announced the roll out of L’Oréal’s Product Impact Labeling system in the U.S. Originally launched in France in 2020, the program provides consumers with info on the environmental impact of their product compared to other L’Oréal products in the same category. Products are given a ranking on a scale from A to E by considering 14 planetary impact factors such as greenhouse gas emissions, water scarcity, ocean acidification, and impact on biodiversity, measured at every stage of a product’s life cycle—from ingredients to packaging, manufacturing process, transport and ultimately use and disposal.
In March 2023, L’Oréal announced it was rebranding its Active Cosmetics Division to become L’Oréal Dermatological Beauty. The division will feature the same brands as before, including Vichy, La Roche-Posay, CeraVe, SkinCeuticals, and Skinbetter Science.
Also in March, Hieronimus was selected to receive The Fragrance Foundation 2023 Hall of Fame Award.
In April, L’Oréal purchased Aesop from Natura for $2.5 billion and tucked it into its L’Oreal Luxe division with plans to expand the brand into China and travel retail.
Also in April, Garnier, which had tapped Drew Barrymore as a brand ambassador, partnered with Loop Industries Inc., on the beauty brand’s first Micellar Cleansing Water All-In-1 bottle made of 100% recycled polyethylene terephthalate (PET) plastic, with both companies aiming to accelerate a circular economy.
In May, Brand Finance named L’Oréal the “World’s Most Valuable Cosmetics Brand,” and The Fragrance Foundation inducted CEO Nicolas Hieronimus into its Hall of Fame.
Looking Ahead: Delivering the outstanding results for the year, Hieronimus commented: “Mindful of the current uncertainties, we remain ambitious for the future, optimistic about the outlook for the beauty market, and confident in our ability to keep outperforming the market and achieve in 2023 another year of growth in sales and profits.”
In a 2023 half-year results statement issued in July, L’Oréal boasted broad-based momentum across all of its divisions, with half year sales tallying about $21 billion, and a 13.3% like-for-like increase. Growth is occurring in all regions, especially Europe and U.S., with a sharp recovery in China.
See Next: Unilever is #2 on our Top Global Beauty 2023 Report.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands and latest innovations.
Beauty Sales:
$40.84 billionKey Personnel:
- Jean-Paul Agon, chairman of the Board of Directors
- Nicolas Hieronimus, chief executive officer
- Barbara Lavernos, deputy chief executive officer
- Vincent Boinay, president, Travel Retail
- Cyril Chapuy, president, Luxe
- Myriam Cohen-Welgryn, president, Active Cosmetics
- Vianney Derville, president, Europe Zone
- David Greenberg, president, North America & chief executive officer, L’Oréal USA
- Omar Hajeri, president, Professional Products
- Fabrice Megarbane, president, North Asia Zone & chief executive officer L’Oréal China
- Alexis Perakis-Valat, president, Consumer Products
- Ersi Pirishi, president, Latin America; Frédéric Rozé, chief global growth officer
- Vismay Sharma, president, South Asia Pacific, Middle East, North Africa
Major Products/Brands:
36 international brands across categories including—L’Oréal LUXE: Lancôme Paris, Kiehl’s, Giorgio Armani, Yves Saint Laurent, Biotherm, Helena Rubinstein, Shu Uemura, It Cosmetics, Urban Decay, Ralph Lauren, Mugler, Viktor&Rolf, Valentino, Cacharel, Azzaro, Diesel, Yuesai, Atelier Cologne, Maison Margiela, Prada, Youth to the People, Aesop (acquisition).
CONSUMER PRODUCTS: L’Oréal Paris, Garnier, Maybelline, NYX, Stylenanda, Essie, Dark and Lovely, Mixa, MG, Niely.
DERMATOLOGICAL DIVISION: La Roche-Posay, Vichy, CeraVe, SkinCeuticals, Skinbetter Science.
PROFESSIONAL PRODUCTS: L’Oréal Professionnel, Kérastase, Redken, Matrix, Pureology
New Products/Brands:
L’Oréal Luxe Division
- My Way by Giorgio Armani
- YSL Rouge Sur Mesure
- Viktor & Rolf mini series
- Valentino Born In Roma
- Mugler Angel Elixir
- Prada Luna Rossa Ocean and Paradoxe
- Lancôme Ultra-Precise Colored Idôle Liners
L’Oréal Consumer Products Division
- Garnier Solid Shampoo
- Skin Genius
- Telescopic Lift Mascara by L’Oréal Paris
- NYX Bare With Me Blur Tint foundation
- Elvive Bond Repair
- Revitalift Clinical Vitamin C Serum
L’Oréal Professional Division
- Redken All Soft Mega Curls Shampoo, Conditioner and HydraMelt Leave-In Treatment
- Kérastase Hair E-diagnosis
- Discover Style My Hair Pro
- Kérastase Symbiose anti-dandruff range
L’Oréal Dermatological Beauty Division
- La Roche-Posay Spotscan
Comments:
L’Oréal posted an incredible 18.5% sales increase in 2022, as well as a 22.6% increase in net profit. E-commerce sales were a particular bright spot, topping nearly $12 billion USD, marking 28% of consolidated sales in e-commerce, representing an 8.9% increase over the previous year. L’Oréal filed 50 patents for packaging in 2022.Across its divisions, the L’Oréal Luxe unit accounted for $15.7 billion (38.3%) of its sales, followed by Consumer Products $15 billion (36.6%), Active Cosmetics $5.5 billion (13.4%) and Professional Products $4.8 billion (11.7%).
Geographically, Europe was the company’s strongest region with $12.2 billion in sales (29.9%, up 12.3% over previous year), followed closely by North Asia $12 billion (14.8%, up 29.6%), North America $10.8 billion (26.6%, up 24.6%), South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa $3.2 billion (7.7%, up 28%), and Latin America $2.5 billion (6.2%, up 34.1%).
The company’s L’Oréal Luxe unit’s strong growth was attributed to strong fragrance performance driven by global bestsellers like Libre by Yves Saint Laurent, La Vie Est Belle by Lancôme and Acqua di Gio by Armani, as well as launches including Prada Paradoxe. In skincare, Luxe grew three times faster than the market, spurred by the ultrapremium segment and stellar performances from Helena Rubinstein, Lancôme’s Rénergie H.C.F Triple Serum, and the success of recent acquisitions including the Japanese brand Takami. The unit’s makeup category also grew thanks to initiatives from Yves Saint Laurent and Urban Decay.
L’Oréal Consumer Products division posted its best growth in 20 years, with all major brands outperforming the market. Growth was attributed to haircare innovations like Elvive Hyaluron Plump, and makeup launches like Superstay Vinyl Ink by Maybelline New York and Bare With Me concealer and Jumbo False Eyelashes from NYX Professional Makeup. In skincare, Garnier was the Division’s top growth contributor, with its Vitamin C Brightening Serum a standout success.
Led by mainstay “dermocosmetics” brands, L’Oréal’s Active Cosmetics division (now called L’Oréal Dermatological Beauty) ended 2022 with +21.9% like-for-like growth, and double-digit growth across all geographical zones. Division-leading brand La Roche-Posay and CeraVe contributed equally to the unit’s growth. La Roche-Posay was sustained by its pillar products, Cicaplast and Effaclar, and by the success of the UVMune 400 breakthrough innovation in sun protection. CeraVe continued to expand internationally, achieving growth in both the United States and the rest of the world. Vichy maintained its strong momentum thanks to Dercos and the Capital Soleil UV franchise in both seasonal and daily sun protection. On the aesthetic front, SkinCeuticals recorded double-digit growth, fuelled by the excellent performance of A.G.E Interrupter antiwrinkle cream. The newly acquired brand Skinbetter Science, integrated into the division in the fourth quarter, also showed promising potential.
L’Oréal’s Professional Products division recorded strong growth spurred by Kérastase, whose sales exceeded the symbolic one-billion-euro mark for the first time, and Série Expert by L’Oréal Professionnel, with the success of the Metal Detox innovation.
Growth was also aided by Shades EQ by Redken and Inoa by L’Oréal Professionnel.
2022-2023 Highlights: In 2022, Mugler celebrated the 30-year launch anniversary of Angel and, inspired by the brand’s “fragrance fountain” approach enabling consumers to refill their fragrance bottles at points of sale, L’Oréal expanded the concept to include a refill option for more of its iconic fragrances including My Way and Acqua Di Gio by Giorgio Armani, La Vie est Belle by Lancôme and Paradoxe by Prada.
At the end of December, L’Oréal USA announced the roll out of L’Oréal’s Product Impact Labeling system in the U.S. Originally launched in France in 2020, the program provides consumers with info on the environmental impact of their product compared to other L’Oréal products in the same category. Products are given a ranking on a scale from A to E by considering 14 planetary impact factors such as greenhouse gas emissions, water scarcity, ocean acidification, and impact on biodiversity, measured at every stage of a product’s life cycle—from ingredients to packaging, manufacturing process, transport and ultimately use and disposal.
In March 2023, L’Oréal announced it was rebranding its Active Cosmetics Division to become L’Oréal Dermatological Beauty. The division will feature the same brands as before, including Vichy, La Roche-Posay, CeraVe, SkinCeuticals, and Skinbetter Science.
Also in March, Hieronimus was selected to receive The Fragrance Foundation 2023 Hall of Fame Award.
In April, L’Oréal purchased Aesop from Natura for $2.5 billion and tucked it into its L’Oreal Luxe division with plans to expand the brand into China and travel retail.
Also in April, Garnier, which had tapped Drew Barrymore as a brand ambassador, partnered with Loop Industries Inc., on the beauty brand’s first Micellar Cleansing Water All-In-1 bottle made of 100% recycled polyethylene terephthalate (PET) plastic, with both companies aiming to accelerate a circular economy.
In May, Brand Finance named L’Oréal the “World’s Most Valuable Cosmetics Brand,” and The Fragrance Foundation inducted CEO Nicolas Hieronimus into its Hall of Fame.
Looking Ahead: Delivering the outstanding results for the year, Hieronimus commented: “Mindful of the current uncertainties, we remain ambitious for the future, optimistic about the outlook for the beauty market, and confident in our ability to keep outperforming the market and achieve in 2023 another year of growth in sales and profits.”
In a 2023 half-year results statement issued in July, L’Oréal boasted broad-based momentum across all of its divisions, with half year sales tallying about $21 billion, and a 13.3% like-for-like increase. Growth is occurring in all regions, especially Europe and U.S., with a sharp recovery in China.
See Next: Unilever is #2 on our Top Global Beauty 2023 Report.
