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.
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French firms L’Oréal and Microphyt partner to drive development of cosmetic solutions based on the latter’s patented, low-carbon process for cultivating microalgae. Already, Microphyt markets three cosmetic ingredients based on microalgae bioactives for enhanced skin vitality and resilience.
The global dermocosmetics market is led by L’Oréal SA with 13.3% share across 20 countries evaluated, followed by Pierre Fabre Group with 7.4%. According to IQVIA Consumer Health, this points to a fragmented market with ample room for innovative, “nimble” brands to enter and nab share.
Procter & Gamble Co.’s Beauty division has weathered COVID challenges exceptionally well thanks to its portfolio mix and the health of its brands going into the pandemic, Beauty CEO R. Alexandra Keith said at the Barclay Global Consumer Staples Conference on 9 September.