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L'Oréal Sees Continued Growth in 2010 Financials
Posted: February 11, 2011
L’Oréal reported its 2010 annual financial results, which indicated strong growth in both sales and profits for the year. In 2010, the company saw sales of €19.5 billion, an increase of 11.6% based on reported figures.
“In the context of an upturn in the cosmetics market, L’Oréal achieved strong sales growth," said Jean-Paul Agon, CEO, L'Oréal. "The group advanced in all zones, all channels and all business segments; more dynamic than the market, it bolstered its position as the world number one in beauty. 2010 was a year of conquests for the group, with several of our brands achieving spectacular breakthroughs: L’Oréal Professionnel with its hair colorant Inoa; Maybelline in mass-market makeup; Yves Saint Laurent, which is experiencing a true renaissance; and La Roche-Posay, which is continuing its expansion.
"The group is growing in Western Europe, clearly improving its positions in North America, and continuing its conquest of the new strategic markets, particularly in Asia and Latin America. In 2010, L’Oréal China became the group’s No. 3 cosmetics subsidiary, with sales of more than €1 billion. Supported by an encouraging start to the year, we are confident in the group’s ability to achieve a new year of sales and profit growth in 2011.”
In a hairdressing market that picked up slightly, the professional products division achieved growth in 2010 of +4.1% like-for-like, and +13.8% based on reported figures. Its initiatives, rolled out through a portfolio of highly complementary brands, enabled the conversion of more than 35,000 new salons. More than ever before, the division is asserting its role as the unchallenged leader in this channel.
The new markets are dynamic, with strong growth rates in India, China and Indonesia, and also in the Middle East and Brazil, where L’Oréal Professionnel is helping to build the professional markets of the future by opening its first institute for the training of young hairdressers.