Yesterday, L’Oréal reported third-quarter sales of €10.33 billion, up 4.2% year on year, bringing total sales for the first nine months of 2025 to €32.81 billion, a 3.4% increase from the previous year. Chief Executive Officer Nicolas Hieronimus said the company’s growth was “broad-based,” highlighting that “all regions contributed and all divisions accelerated, supported by a wave of new launches and our ‘Beauty Acceleration Plan.’”
By division, the Professional Products Division led with a 7.4% like-for-like increase with €3.78 billion in sales, outperforming the market across all regions, notably in Europe and emerging markets such as Brazil, Mexico, and India. Growth was driven by e-commerce expansion, premium salon services, and standout performances from Kérastase and L’Oréal Professionnel. The recent acquisition of Color Wow further strengthened its position in high-end haircare.
The Consumer Products Division grew 3.1% like-for-like with €12.18 billion in sales, with accelerating momentum in North America and strong demand in emerging markets. Haircare remained a core driver, led by innovations such as L’Oréal Paris Glycolic Gloss and Garnier Fructis Curl Method, while makeup surged with products like Maybelline Colossal Bubble Mascara and NYX Smushy Lip Balm. Each of the division’s four global brands — L’Oréal Paris, Garnier, Maybelline, and NYX — recorded growth, alongside promising performances from Mixa, 3CE, and newly acquired Dr.G.
L’Oréal Luxe rose 2.2% like-for-like with €11.38 billion in sales. Luxe saw robust fragrance growth from Valentino Born in Roma, YSL Libre and MYSLF, and Prada Paradigme, alongside the launch of Miu Miu Miutine and the Aesop Fragrance Collection. Makeup demand remained strong, particularly across the Couture brands. The addition of Medik8 to the Luxe portfolio added further momentum.
Dermatological Beauty achieved 3.7% like-for-like growth with €5.47 billion in sales, propelled by online sales and innovation. La Roche-Posay, SkinCeuticals, and CeraVe all outperformed their markets, with SkinCeuticals becoming the top dermo-cosmetics brand in China. Vichy also delivered strong results, driven by its Dercos haircare line and new anti-aging products.
By Region, in Europe, sales rose 3.6% like-for-like with €11.1 billion, supported by strong performances in Germany, Italy, and Iberia, and a buoyant online channel. North America grew 1.8% like-for-like, showing steady recovery.
The SAPMENA–SSA region (South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa) recorded the fastest growth at 11.0% like-for-like with €3.1 billion, with robust performances in Vietnam, India, and Thailand, and double-digit gains in haircare and makeup. Latin America followed with 8.2% like-for-like growth with €2.5 billion, driven by strong momentum in Brazil and Mexico and continued success in premium haircare and fragrances.
In North Asia, L’Oréal achieved €7.3 billion in sales, up 0.5% like-for-like — marking its first positive growth in two years — mainly driven by a rebound in mainland China and a recovery in Japan’s tourism industry. Nicolas Hieronimus said during the earnings call that the mainland Chinese market is “gradually recovering,” with signs of stabilization and a modest improvement in consumer confidence.
Breaking down performance in China by division, three of the four divisions increased their market share, with particularly strong growth in the Dermatological Beauty segment. Although L’Oréal already holds a significant share in the luxury category, it continued to gain further ground there as well.
Commenting on the Kering acquisition, Hieronimus confirmed that L’Oréal announced on Saturday the acquisition of Kering Beauté, which includes niche fragrance house Creed and the beauty and fragrance licences for Balenciaga, Bottega Veneta, and (pending confirmation) Gucci. He highlighted that Creed is among the top three niche fragrance brands globally, and projected that its sales could double over time, noting that the acquisition strategically fills a gap in L’Oréal’s portfolio in the niche fragrance market.
