Dermocosmetics was L’Oreal’s biggest growth story in 2020, benefiting from shifting consumer priorities during the COVID crisis and reinvigorated faith in the recommendations of healthcare professionals. Makeup sales tanked, but that could well reverse with the advent of another Roaring Twenties post-pandemic, L’Oreal leadership suggests.
Already on a downswing pre-COVID, makeup was a drag on L’Oreal SA’s fiscal 2020 performance, slamming its Consumer Products and North American businesses especially hard.
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Swiss firm reports highest revenues in its history as restructure pays off for its pharma and cosmetics businesses in 2024.
Coty Inc. reports fiscal second quarter sales slipped 3% on a reported basis to $1.67bn, reflecting further slowing of the mass beauty market, particularly color cosmetics.
L’Oréal Groupe expects total sales in 2025 to beat 4%-4.5% growth anticipated for the overall beauty market, with US population growth, planned innovations boding well across its beauty businesses.
Cincinnati-based P&G reports its antiperspirants/deodorants business is a ‘pocket of strength,’ growing 11% in the US in the fiscal second quarter and helping lift overall beauty sales as skin care stumbles.
The BBB National Programs, Inc. announces Phyllis Hurwitz Marcus, who served the FTC for nearly two decades, will take the reins of the National Advertising Division, replacing Laura Brett.
Kim Kardashian lifestyle company SKIMS buys back rights to SKKN by Kim from Coty, Inc., which had purchased a 20% interest in the brand in 2020 for $200m. Separately, NYX Professional Makeup partners with Warner Bros. to launch the “A Minecraft Movie” collection.
BBB National Programs’ NAD and CARU divisions jointly reviewed the social media posts of New York firm Bubble Beauty, finding the company could support claims of safety, but not efficacy, of its skin care products for children under 13.
