L’Oreal’s sales were up by 13.1% in the third quarter of 2021.
The company reported sales of €7.99 billion in Q3. As of September this year, the group’s sales amounted to €23.19 billion - an increase of 15.3%.
“The group’s sales increased by 9.3% like-for-like over two years, compared with the first nine months of 2019, with a remarkable acceleration in the third quarter,” said Nicolas Hieronimus, CEO of L’Oreal. “All divisions increased their growth over two years quarter after quarter.”
Hieronimus commented that L’Oreal’s employees have been “safely and enthusiastically” returning to the office in many countries over the last few months.
“As a result of our agility, relevant strategic choices and strong investment in our brands,” he said. “L’Oreal continues to significantly outperform a beauty market that is gradually returning to pre-crisis levels.
“All zones and all divisions are growing and contributing to the group’s well-balanced growth. The US recovery is confirmed, and mainland China has sustained strong quarterly growth over two years, despite a few upheavals in the summer.
“We have maintained an offensive product launch strategy, and our performance is evidence of our brands’ desirability and consumer demand for cutting-edge innovations. While in-store sales have recovered, e-commerce continues to grow rapidly and accounts for 26.6% of sales.”
At the end of September, L’Oreal’s professional products division recorded strong growth at 28.7% and a 22.5% quarterly increase compared with Q3 2019. This was driven by three market trends: the digitalisation of salons; the development of independent stylists; and the boom in e-commerce.
By winning over new salons and offering innovations that are ‘more inclusive than ever’, the division continued its growth trend in all geographic zones, with record performance in the US, driven by the power of the SalonCentric distribution channel.
Haircare, L’Oreal’s number one category in terms of growth, was led by strong performance from Kerastase, with the success of innovations such as Curl Manifesto and Genesis, and the launch of Metal Detox by L’Oreal Professionnel Paris and Acidic Bonding Concentrate by Redken.
As a long-standing partner to hair stylists, L’Oreal aims to engage the industry in the green transition by 2030 and is launching its in-salon sustainability programme, ‘Hair stylists for the Future by L’Oreal’, with three priorities: reducing water consumption, managing waste, and using renewable energy.