Cosmetics giant L’Oreal said the make-up market was booming as it posted stronger-than-expected sales growth in the third quarter, driven by a “substantial acceleration” in North America and market share gains. The global popularity of increasingly sophisticated cosmetics, driven by the influence of tutorials on Youtube and other celebrities, benefits the group. Sales of the world’s leading beauty grew by 26% in this sector since January.
During the first nine months of the year, L’Oréal’s turnover increased 4.7% on a comparable basis to 19.05 billion euros, thanks to the strong sales growth fund foundation, lipstick or nail polish, according to results released on Thursday, November 3.
Whether in its luxury division (Giorgio Armani, Yves Saint Laurent, Urban Decay …) or its consumer section (Maybelline, L’Oreal Paris, NYX), makeup is up 26% since January and now accounts for a quarter of group’s total sales. Whatever the age, gender, income or nationality of consumers, the craze is global.
L’Oréal , the world leader in the beauty business, employs 82 900 people worldwide and is a champion of acquisitions. Since 2010 the French cosmetics company headquartered in Clichy has widened its portfolio by acquiring brands symptomatic of the changes in the sector in recent years.