L’Oréal posted strong sales for 2022 so far, with revenues up 20.5%.
Sales amounted to €27.94bn for the year to 30 September, which the cosmetics owner attributed to increase in prices.
"The Group is benefiting from its valorisation strategy, rolled out at the start of the year, the effects of which are accelerating particularly in Europe and North America," said Nicolas Hieronimus, CEO of L'Oréal.
Sales in the Consumers Product Division increased 8.7% in Q3, driven by a "premiumisation strategy" of the category along with price hikes.
India and Mexico, along with the US and Europe, were highlighted as key regions for the category.
Make-up launches Superstay Vinyl Ink lipstick by Maybelline New York, Bare With Me concealer serum by NYX Professional Makeup and the rollout of Elvive Hyaluron Plump also bolstered the Consumer Product Division's growth.
The biggest growth
The Active Cosmetics Division reported the group’s largest growth with an increase of +22.6% sales.
Skin care brand La Roche-Posay was the primary contributor, driven by sales in sun protection UVMune 400 and the launch of Pure Niacinamide 10 serum.
But CeraVe remained the division’s fastest-growing brand, reported L’Oréal.
Vichy also posted double-digit growth, which is attributed to the Dercos hair care franchise, sunscreen Capital Soleil UV AGE Daily and Neovadiol line.
Cosmeceuticals range Skinceuticals also accelerated sales, said to be fuelled by the performance of A.G.E Interrupter anti-wrinkle cream and its growth within the professional medical channel.
The Professional Products Division also recorded growth of +10.9% like-for-like, with the strongest performance in India, mainland China, Brazil and Germany.
The cosmetics giant said this was driven by the performance of hair care brands Kérastase, Serie Expert by L’Oréal Professionnel with Metal Detox, Shades EQ by Redken and Inoa by L’Oréal Professionnel.
However, L’Oreal's Luxe Division sales were stunted by repeated lockdowns in China and Hainan, along with fragrance bottle supply chain issues.
The category – which includes Lancome and YSL Beauty – grew +12.2% in Q3 compared to 2021.
“The performance of L'Oréal Luxe was temporarily impacted by a number of factors in the third quarter (repeated lockdowns in China and Hainan, and anticipated Travel Retail invoicing in the second quarter)," continued Hieronimus.
"Nevertheless, the Division reaccelerated in September and reached record market share in mainland China in the third quarter."
L'Oréal also reported stellar global performance in its half-year 2022 results.
