WWD Beauty Inc's annual ranking of beauty's biggest manufacturers shows the industry endured a roller-coaster ride in 2022.
Net profit: €5.71 billion, + 24.1%Consumer Products: €14.02 billion, +14.6% Sales by geographic zone:North Asia: €11.32 billion, +14.8%
Hieronimus said the group’s new geographical organization, put in place during the pandemic, has allowed it to enhance coherency in each region in terms of consumer profiles and market maturity, allowing it to maximize growth and control costs better.All its divisions grew well in like-for-like terms: 10.1% for Professional Products, 10.2% for L’Oréal Luxe despite the turbulence of the Chinese market, Active Cosmetics at +21.
L’Oréal Luxe reportedly outperformed the buoyant prestige beauty market as a whole for the 12th year running, finishing up 18.6% at reported rates and up 10.2% like-for-like on an overall market that gained 8%. Luxury skin care gained 7%, while the market was up 2%, thanks to gains in the ultra-high-end segment with Helena Rubinstein and Lancôme Absolue, as well as the addition of Takami and Youth to the People to the portfolio.
Regionally, Europe was the biggest contributor to L’Oréal’s growth last year, with sales up 11.6% like-for-like. The company also reported a turnaround for its business in North America, which exceeded €10 billion in sales for the first time and saw like-for-like growth of 10.4%. In February 2022, David Greenberg was named chief executive officer of L’Oréal USA and president of the North America zone.
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