PARIS — L’Oréal‘s sales in fourth-quarter 2023 were particularly robust for its Dermatological Beauty and Consumer Products divisions, and in emerging markets.
The world’s largest beauty company on Thursday reported that sales in the three months ended Dec. 31 grew 2.8 percent at reported exchange rates to 10.61 billion euros, representing a 6.9 percent rise on a like-for-like basis.
In the three-month period, in organic sales terms, Dermatological Beauty registered a 27.3 percent gain and Consumer Products a 7.7 percent increase. Meanwhile, Latin America and the South Asia-Pacific, Middle East, North Africa, Sub-Saharan Africa (or SAPMENA-SSA) zone posted like-for-like sales advances of 23.4 percent and 22 percent, respectively.
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In 2023, L’Oréal sales reached 41.18 billion euros, up 7.6 percent in reported terms and 11 percent on a like-for-like basis.
Nicolas Hieronimus, chief executive officer of L’Oréal, underlined how the company for its third consecutive year registered double-digit, like-for-like sales growth and outperformed the dynamic beauty market.
“In a challenging environment of geopolitical tensions, inflationary pressures and a stagnating beauty market in China, we delivered our best like-for-like growth in more than 20 years (excluding in 2021),” Hieronimus said in a statement, adding he is especially pleased with L’Oréal’s strong acceleration in emerging markets.
The group said in 2023, the L’Oréal Luxe division became the global leader in luxury beauty, with sales of 14.92 billion euros. Those were up 2 percent in reported terms and 4.5 percent on an organic basis.
“As we head into 2024, we remain optimistic about the outlook for the beauty market and confident in our ability to keep outperforming it and to achieve another year of growth in sales and profits,” said Hieronimus.
