L'Oreal Luxe's 10.5% like-for-like growth in fiscal 2017 substantially overshadowed the 2.2% LFL improvement in the firm's Consumer Products unit. "Maybe in the mass [channel] in the U.S. for the past two or three years, we didn't give consumers enough desire to want to buy beauty," but the company is committed to accelerating innovation and bringing consumers back, CEO Jean-Paul Agon says
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L'Oreal S.A. continues to benefit from robust luxury growth while its mass business proceeds at a relative crawl, trends that may not only reflect the macro factors observed by the firm's peers.
"Beauty is not a consumer goods business. Beauty is different. Beauty is about desire, appetite, excitement. You don't buy beauty...