L’Oréal Sales Climb 1.2% with Strong Momentum in China and US Markets

L’Oréal strengthens its leadership. The French cosmetics group closed the first nine months of 2025 with sales of €32.807 billion, 1.2% more than in the same period of the previous year. This growth was 3.4% on a like-for-like basis. The company has improved its performance quarter by quarter, supported by the recovery in China and the United States, the strength of Europe and the sustained momentum of the region that includes South Asia, the Pacific, the Middle East and North Africa.

Between July and September, the company posted a turnover of €10.33 billion, up 0.5%, accelerating compared to the second quarter when a rise of 3.7% was recorded. “Progress was across the board: all regions contributed,“ said Nicolas Hieronimus, the group’s CEO, after the results presentation.

The executive also highlighted the recovery of the company’s two largest markets, the United States and mainland China, the strength of Europe and the dynamism of the South Asia, Pacific, Middle East and North Africa region, which offset the weakness of Latin America.

This area was once again the most dynamic, with growth of 8.1%, supported by the boom in hair care and makeup. Europe, on the other hand, saw its sales rise by 3.8%, driven by the performance of signature fragrances and the professional division.

L’Oréal posted sales of €32.80 billion in the first nine months of the year

In contrast, North America declined by 1.2% and Latin America by 1.6%, weighed down by exchange-rate effects. In North Asia, which includes China, Japan and Korea, sales fell by 1.1%, although the group highlights a gradual improvement in consumption and a return to growth in luxury goods. The online channel, meanwhile, has maintained its double-digit growth and continues to be the most dynamic of the group, with a growing weight in all divisions.

By division, the best performance was in the professional products segment, which increased by 5.3% thanks to Kérastase, Matrix and the relaunch of Majirel, as well as the integration of Color Wow, completed in September.

Dermatological Beauty grew by 1.5%, boosted by La Roche-Posay (Cicaplast and Melasyl technology), SkinCeuticals and CeraVe in the United States. FMCG advanced 0.9%, supported by L’Oréal Paris and Garnier, while the luxury division, L’Oréal Luxe, was up 0.2%, boosted by the rise of Valentino, YSL, Prada and Miu Miu fragrances, as well as the addition of Medik8.

The results release follows the announcement of the deal with Kering Beauty, valued at around €4 billion, through which L’Oréal has added Creed and the beauty licenses of Gucci, Bottega Veneta and Balenciaga, plus a joint venture to explore opportunities in wellness and longevity. “The deal will make us one of the leaders in niche fragrances and reinforces our position as the world’s largest luxury beauty group,“ said Hieronimus.

The deal consolidates L’Oréal’s dominance in the luxury segment and revives speculation about a possible move with Armani. The Italian firm, whose perfume and cosmetics license has been in the hands of the French group for more than two decades, could be the next acquisition target, according to industry analysts.