(Finance) – L’Orealthe French beauty and cosmetics giant, has closed the first quarter of 2024 with sales equal to 11.24 billion euros, +9.4% on a comparable basis, +8.3% reported. First quarter sales include a positive impact of 130 million euros due to the gradual implementation of new IT systems in North America. Adjusted comparable growth was +8.1%.
“2024 started very well with comparable growth of +9.4%, perfectly illustrating the power of our unique model – commented the CEO Nicolas Hieronimus – We are a pure player in beauty, a category that has once again demonstrated its unstoppable growth capacity. Our multi-polar approach to beauty – from luxury to mass, from professional to dermatological, across all channels, in all price ranges and in all geographies – allows us to seize all growth opportunities and offset temporary setbacks. weakness”.
“And the first quarter was the perfect proof of this,” he added. “Continued double-digit growth in Europe, combined with continued strength in emerging markets, more than offset the recovery, only gradual, in northern Asia. Exceptional performance in dermatology and bulk offset short-term challenges in the luxury sector. Overall, taking into account the favorable phase in North America, our growth on a comparable basis was a strong +8.1%, not only maintaining our pace, but once again significantly outperforming the dynamic beauty market“.