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.
L’Oreal Says Makeup Will Be Back, But ‘Health Is The Future Of Beauty’
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.
