L’Oréal outpaces the beauty market thanks to luxury and skincare

L’Oréal had an exceptionally strong third quarter. The French cosmetics giant saw its revenue rise by nearly 12%, thanks to strong demand for premium hair care, dermatological cosmetics, and luxury products, particularly in China and Europe.

China makes a comeback

L’Oréal’s revenue rose 11.9% in the third quarter to 11.6 billion euros. On a like-for-like basis, growth was 7.2%. Over the first nine months, revenue rose 7.7% to 35.3 billion euros. “L’Oréal delivered an exceptional third quarter,” said CEO Nicolas Hieronimus. “The global beauty market has once again demonstrated its resilience in a challenging environment, and we continue to grow significantly faster than the market.”