L'Oréal reinforces its position as a leader in the cosmetics industry with a revenue of €41.18 billion in 2023, up by 7.6%. The group is preparing to launch a new range of perfumes in collaboration with Miu Miu for 2025.
L'Oréal, the behemoth of the beauty industry, sets new records in 2023, marking the third consecutive year of exceptional growth. The French group boasts a revenue of €41.18 billion, thus recording a surge of 7.6% in reported data and +11% in comparable terms. All divisions benefited from this positive trend and the dynamic global beauty market, which experienced an 8.5% growth this year, propelling the L'Oréal Luxe division to the position of global leader in premium cosmetic sales.
Despite facing challenges in the Chinese market, the group shows double-digit growth in all world regions. L'Oréal continues to attract Millennials and Generation Z, partly due to its commitment to sustainable development. For the eighth consecutive year, the company has been awarded a triple "A" by the global environmental organization Carbon Disclosure Project (CDP), highlighting its involvement in combating climate change. L'Oréal has also established a charitable fund, the L'Oréal Fund for Climate Emergency, endowed with €15 million to support populations impacted by natural disasters caused by climate change.
In a press release, Nicolas Hieronimus, CEO of the group, commented: "In a context of geopolitical tensions, inflationary pressures, and stagnation in the Chinese beauty market, we achieved our best comparable growth in over 20 years (excluding 2021). This performance demonstrates the strength of our multipolar model, and I am particularly proud of the strong acceleration in emerging markets."
Thanks to its enduring financial strength, L'Oréal continues to expand its empire through acquisitions, partnerships, and commercial agreements with other prestigious houses. The group has just announced the signing of an exclusive licensing agreement with the Italian brand Miu Miu, the "little sister" of Prada, envisioning the launch of a series of perfumes in 2025.
L'Oréal had already entered into a successful collaboration with Prada in 2019, following the acquisition of the iconic brand Aesop and the Swiss start-up Gjosa, a pioneer in the development of water micronization technology. Today, the beauty giant is firmly turning towards Beauty Tech, a promising field that will allow L'Oréal to "further establish its leadership," as emphasized by Nicolas Hieronimus.
Partager l'article
Continuez votre lecture
Contrasting performances for Tapestry and Capri Holdings before merger
The two American luxury groups, Tapestry and Capri Holdings, are showing contrasting financial performances ahead of their announced merger by the end of the year. Tapestry is experiencing revenue growth, unlike Capri Holdings, which is seeing its numbers decline. This strategic merger is valued at $8.5 billion.
By Eva Morletto
Tod’s Group prepares to exit the stock market
After the failed first attempt to delist from the stock market in 2022, when the Tod’s Group faced difficulties amid challenging economic conditions, the friendly tender offer from the L Catterton fund (LVMH) for Tod’s at 43 euros now seems to confirm the exit.
By Eva Morletto
S'inscrire
Newsletter
Soyez prévenu·e des dernières publications et analyses.