THE WHAT? L’Oréal has reported a strong Q1, with sales reaching 10.38 billion euros, an increase of 13.0 percent on like-for-like basis and, 14.6 percent based on reported figures.
THE DETAILS The French beauty giant reported growth in all divisions, with an ‘outstanding performance’ from the Dermatological Beauty and Consumer Products Divisions, which grew 30.6 percent and 14.7 percent respectively.
At the end of March, the Professional Products Division recorded 7.6 percent like-for-like growth, while luxe increased 6.5 percent.
Geographically, Europe reported 16 percent like-for-like, while North America, North Asia, SAPMENA-SSA and Latin America grew 16.6, 1.9, 26.7 and 22.3 percent respectively.
THE WHY? Nicolas Hieronimus, CEO of L’Oréal, attributed the sales growth to ‘valorised innovations in all Divisions and the engagement of our teams around the world.’