L'Oréal hails an 'exceptional' quarter as skincare returns to growth

L'Oréal reported third-quarter sales of €11.6 billion, up 7.2% like-for-like, and described the three months to 30 September as exceptional. Adjusted growth reached 7.7%, accelerating past the market. Chief executive Nicolas Hieronimus credited the return of skincare, a category that underperformed through 2025.

Every division grew. Dermatological beauty led on an adjusted like-for-like basis at 11.6%, followed by professional products at 12.3%. Consumer products added 4.2% and Hieronimus said the global beauty market proved its resilience in a challenging context, and L'Oréal continued to outpace it.

Skincare is back

Skincare's recovery is the headline inside the numbers. Hieronimus said the company is now outperforming in the category after winning earlier in hair care and fragrances. He tied much of the shift to innovation, and singled out e-commerce, where L'Oréal is growing well ahead of the market with what he called spectacular results.

The dermatological division's three 'billionaire' brands, La Roche-Posay, CeraVe and Skinceuticals, all grew in double digits. The Mela B3 Double-Dose and Anthelios UV Air lines from La Roche-Posay helped, as did CeraVe's sun care range.

Hieronimus also flagged the rising use of GLP-1 weight-loss drugs as an important new driver. He said products at Skinceuticals and Kiehl's are designed to work alongside GLP-1 treatment and to counter side effects such as skin sagging.

The divisions

Hair care premiumisation drove 12.3% adjusted like-for-like growth in the professional products division. Kérastase posted double-digit growth on new launches including Gloss Absolu, Genesis and Chronologiste, while Redken Acidic Grow Full and L'Oréal Professionnel Keratin Alpha Sleek added momentum. Hair colour faced a more challenging market backdrop but still outgrew it.

In consumer products, unit growth accelerated. L'Oréal Paris and NYX Professional Makeup stood out, and every global brand in the division grew. Regional mass skincare brands remained highly dynamic, with Mixa rolling into new markets.

Korean brand Dr.G expanded globally, reaching China and Southeast Asia, and launched in the US on TikTok Shop in October. 'The big play is to see whether we can also surf on that Korean wave in the West,' Hieronimus told investors. He said Dr.G is already performing well in Southeast Asia.

Skin care launches drove the progress: Garnier Dry Touch spread across Europe and Latin America, while L'Oréal Paris gained from Glass Skin and Revitalift PDRN Filler. Hair care grew in double digits on L'Oréal Paris Elvève Collagen Lifter and Garnier Fructis Diamond Sleek.

Make-up innovations including L'Oréal Paris Infallible, Maybelline New York Sky Tubes Mascara and NYX Professional Makeup Fat Matte Smooth Lipstick lifted sales, alongside the rollout of 3CE in Asia.

L'Oréal Luxe grew 5.8% adjusted, led by fragrance. Prada Paradigme and Emporio Armani Stronger with You delivered what the company called stellar growth, Yves Saint Laurent's Libre and MYSLF grew in double digits, and Valentino Vendetta and Giorgio Armani I Will had promising starts.

Creed, which L'Oréal acquired earlier this year, grew in double digits and fills the premium-end fragrance gap, Hieronimus said. Its new launch, Iris Debonair, is contributing to overall fragrance performance across male and female lines. In skincare, Helena Rubinstein and its Re-Plasty franchise posted what he called phenomenal growth.

Yves Saint Laurent make-up grew strongly in double digits, helped by Lovenude Lip Blusher, All Hours Foundation and the recently launched Make Me Blush. The unit's ultra-premium segment strengthened momentum across its skincare brands.

Where it lagged

Growth reached all regions except Latin America, with Europe and the SAPMENA–SSA region the biggest contributors. India impressed within SAPMENA–SSA, and Hieronimus gave a special mention to Europe. He said the spread illustrates the local teams' ability to win across terrains.

Brazil still grew in double digits, but Mexico disappointed. A softening market, inventory issues in make-up and commercial problems with one of its biggest customers held Mexico to mid-single-digit growth, Hieronimus told investors.

Looking ahead, Hieronimus said the first nine months give him confidence L'Oréal will deliver another year of growth in sales and profit while strengthening its global leadership. He pointed to artificial intelligence as a lever to augment the L'Oréal model over the long run.

The momentum builds on earlier moves we have covered. L'Oréal Travel Retail and Avolta signed a joint plan targeting 10% refillable fragrance by 2030, and we reported that talks over a stake in Armani Group are now moving after Giorgio Armani named L'Oréal among the buyers he wanted.

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Image: L'Oréal