L'Oréal Luxe posted growth of +2.8% like-for-like, +0.0% reported.
Momentum accelerated in the second half of the year with growth reaching +3.6% - and close to +5% excluding Travel Retail in Asia, where the situation remained challenging. The Division strongly outperformed a selective market at around +1%, with a gradual improvement in the second half.
L’Oréal Luxe thus reinforced its global leadership position, anchored by a balanced regional footprint. 2025 marked a new milestone as the Division became the number one player in North Asia - securing market leadership across all regions.
The Division achieved double-digit growth in emerging markets, strongly outpacing the market in Europe - notably in the Germany-Austria-Switzerland and Spain-Portugal clusters. In North America, the Division demonstrated firm resilience. In North Asia, momentum accelerated in the second half as the selective market in China returned to growth.
Fragrances remained a powerful growth engine driven by the highly dynamic Couture brands, thanks to global blockbusters like Libre and MYSLF by Yves Saint Laurent, Born in Roma by Valentino and Paradoxe by Prada - further energised by the stellar debut of Prada’s Paradigme and the solid start of Miu Miu’s Miutine. A highlight was the double-digit growth of the Fragrance Collections - led by exceptional results from Aesop and Maison Margiela. This strong momentum in Fragrances confirms the Division's successful strategy in the ultra-premium and Couture segments.
Makeup benefited from a step-up in innovation with particular successes from Yves Saint Laurent with Make Me Blush and The Inks, Prada - which delivered another year of double-digit growth, and Lancôme’s Idôle franchise with Juicy Treats.
In skincare, the recently acquired Medik8 brand is off to a strong start - reinforcing the position of L’Oréal Luxe in the important segment of medicalised beauty.
The Dermatological Beauty Division posted growth of +5.5% like-for-like and +2.5% reported.
Momentum improved quarter after quarter and significantly accelerated into double digits in the fourth quarter, supported by the gradual alignment of sell-in and sell-out and the progressive turnaround of CeraVe. In sell-out, the Division continued to outperform a global dermo-cosmetics market, which decelerated but remained robust and ahead of the overall beauty category.
Dermatological Beauty advanced in all regions. Momentum was particularly strong in emerging markets and resilient in mature markets, where the Division significantly outpaced the market in terms of sell-out.
La Roche-Posay remained the number one growth contributor. It significantly outpaced the market, driven by the Cicaplast franchise and the continued success of Melasyl, the breakthrough anti-pigmentation technology.
CeraVe achieved a gradual turnaround, boosted by the successful launch of Intensive Moisturising Lotion. In the United States, the brand progressively accelerated once again in skincare and benefitted from the entry into haircare, which had a good start - allowing it to outpace the market in the second half. In emerging markets and mainland China, CeraVe pursued its very strong momentum, growing well ahead of the market.
SkinCeuticals crossed the billion-euro mark, delivering very dynamic growth everywhere, propelled by outstanding innovations like P-Tiox and AGE interrupter.
Vichy’s growth was boosted by the ongoing strength of Dercos and the successful launch of Collagen Specialist 16.
Sales in Europe grew +4.4 % like-for-like and +4.6% reported.
L’Oréal continued to outpace a robust beauty market, with a particularly strong final quarter, thanks to the continued success of e-commerce.
Momentum was especially strong in the Spain-Portugal and Germany-Austria-Switzerland clusters, Italy and in most medium-sized countries; the UK-Ireland cluster accelerated significantly in the second half.
Consumer Products outpaced the market in makeup thanks to strong innovations, notably from L’Oréal Paris and NYX Professional Make-Up. Haircare was boosted by successful launches such as L’Oréal Paris Elsève Glycolic Gloss and Garnier Fructis Keratin Sleek.
L'Oréal Luxe significantly outperformed its market, thanks primarily to the outstanding performance of its fragrance portfolio. L’Oréal holds the top three positions in female fragrances with Libre, La Vie est Belle and Paradoxe. In male fragrances, Prada’s Paradigme was off to a very strong start.
Professional Products grew strongly, propelled by the continued dynamism in premium haircare - with a particularly impressive performance from Kérastase.
Dermatological Beauty progressively accelerated in the second half, helped by the gradual alignment of sell-in and sell-out. La Roche-Posay cemented its leadership across its strategic channels. SkinCeuticals was particularly dynamic, fuelled by successful launches.
Sales in North America grew +3.4% like-for-like and -0.7% reported.
Growth accelerated from +2% in the first to almost +5% in the second half as market conditions improved and key innovations were successfully rolled out. Growth was broad-based with all Divisions contributing.
In Consumer Products, momentum improved quarter after quarter, resulting in significant outperformance in the back half of the year. Haircare remained the most dynamic growth engine, led by L'Oréal Paris Elvive and Ever. Makeup improved strongly, driven by innovations like L'Oréal Paris’ Plump Ambition and Faux Brow, as well as NYX Professional Makeup’s Lip IV and Brow Glue Crazy Lift.
Professional Products outpaced the market thanks to the continued strength of Kérastase in premium haircare, boosted further by the successful launch of Gloss Absolu. The recently acquired Color Wow is off to a good start.
In Luxe, fragrances remained dynamic, significantly outpacing the market. The category was powered by the ongoing success of Couture brands as well as the rollout of new launches including Prada's Paradigme, Miu Miu’s Miutine and YSL’s MYSLF Absolu.
