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Nivea producer Beiersdorf claims to be the fastest-growing beauty company in the world in 2023. This year, however, the pace will slow a little, CEO Vincent Warnery predicts.
Record sales
Beiersdorf saw sales grow by 10.8 % to 9.5 billion euros, a new record. Operating profit rose 9.5% to 1.27 billion euros. The record figures are partly due to the strong performance of flagship brand Nivea, which exceeds the mark of five billion euros in sales for the first time and grew at double-digit rates in all regions and categories, the company reports.
Warnery speaks of a remarkable growth trajectory: “We were the fastest-growing beauty company worldwide in 2023 and we kept our promise of profitable growth.” He points to major investments in an attempt to become “the best skin care company in the world”. For example, a new production site in Leipzig was the company’s biggest ever investment in a production site, with a total investment value of 300 million euros.
The CEO does sound cautious in his new forecasts: this year’s growth will be in single rather than double digits, and operating profits will continue to rise. This caution is nothing new: a year ago, he also predicted a slight slowdown in growth, but he was proven wrong…
