L'Oréal's Q3 2023 sales totaled 10,003.1 million euros, a like-for-like gain of 11.1% year-over-year; nine-month sales jumped 12.6% year-over-year, totaling 30,577.2 million euros.
All divisions grew, particularly L’Oréal Dermatological Beauty, which was up 28.1% year-over-year (like-for-like) in Q3 and up 28.7% for the first nine months. Consumer Products' Q3 sales were up 13.4%, while nine-month sales jumped 14.5%.
Luxe sales were up 3.2% in Q3 and up 6.1% for the first nine months, while Professional Products were up by 8.7% in Q3 and up 8.0% in the first nine months.
Online and offline sales both jumped in the double digits, year-over-year.
A resurgence was noted in mainland China and Japan, offset by travel retail softness, which impacted North Asia results.
“I am very proud of the performance of our teams in the first nine months," said Nicolas Hieronimus, CEO of L'Oréal. "The beauty market remains exceptionally dynamic, and L’Oréal continues to outperform and reinforce its global leadership. Despite the slower than expected recovery of the beauty market in mainland China and the reset in Asian travel retail, L’Oréal kept its double-digit pace. We did so thanks to our broad-based regional footprint, our successful innovation pipeline, and our agility to rapidly allocate investment to the areas where we see the highest growth. In a context of continued economic and geopolitical uncertainty, we remain confident in our ability to keep outperforming the market and achieve in 2023 another year of growth in sales and profits. We are optimistic about the outlook for the beauty market and remain ambitious for the future.”