L'Oréal Posts 7.2% LFL Growth to €11.6bn as Skin Care Returns

L'Oréal grew like-for-like sales 7.2% to €11.6bn in the three months to 30 September, with adjusted LFL growth accelerating to 7.7% — and the number that matters most to formulators sits in the divisional detail: dermatological beauty advanced 11.6% and professional products 12.3%.

CEO Nicolas Hieronimus hailed an "exceptional" third quarter and the return of the skin care category, which had underperformed in 2025. "L'Oréal delivered an exceptional third quarter as adjusted LFL growth accelerated to 7.7%," he said. "The global beauty market, once again, proved its resilience in a challenging context, and we continued to significantly outpace it."

Every division grew. The company described the professional products and dermatological beauty performances as "remarkable" and the Luxe unit as showing a "strong recovery". Sales rose in every region except Latin America, with Europe and the South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa region (SAPMENA–SSA) the largest contributors.

Latin America split in two. Brazil grew in double digits, Hieronimus told investors on a call, while Mexico managed only mid-single-digit growth after a softening market, inventory problems in make-up and commercial difficulties with one of the group's largest customers.

What did the professional products division deliver?

Hair care premiumisation pushed adjusted LFL growth to 12.3% for the first nine months. Kérastase grew in double digits on launches including Gloss Absolu, Genesis and Chronologiste. Redken Acidic Grow Full and L'Oréal Professionnel Keratin Alpha Sleek added momentum. Hair colour faced a tougher market backdrop, yet the division still outpaced it.

For salon owners and distributors, the message is clear: premium treatment and bond-style ranges continue to displace colour as the revenue engine of the professional channel.

Which skin care launches drove the recovery?

The dermatological beauty division — La Roche-Posay, CeraVe and SkinCeuticals, its three "billionaire" brands — grew 11.6% adjusted LFL, with all three in double digits. La Roche-Posay's Mela B3 Double-Dose and Anthelios UV Air, plus CeraVe's sun care range, carried the quarter.

In consumer products, where adjusted LFL sales rose 4.2%, L'Oréal Paris and NYX Professional Makeup stood out and all global brands in the division grew. L'Oréal Paris benefited from Glass Skin and Revitalift PDRN Filler; Garnier Dry Touch expanded across Europe and Latin America. Korean derm brand Dr.G moved into global markets including China and Southeast Asia, and launched in the US on TikTok Shop in October.

"The brand is already doing very well in Southeast Asia," said Hieronimus. "But the big play is to see whether we can also surf on that Korean wave in the West."

Luxe grew 5.8% adjusted LFL, led by fragrance. Prada Paradigme and Emporio Armani Stronger with You posted "stellar" growth; Yves Saint Laurent's Libre and MYSLF grew in double digits. Valentino Vendetta and Giorgio Armani I Will made a "promising start". Creed, acquired earlier this year, grew in double digits and launched Iris Debonair.

"It fills the gap in our premium end fragrances," said Hieronimus of Creed. At the ultra-premium end of Luxe skin care, Helena Rubinstein and its Re-Plasty franchise delivered "phenomenal" growth, while YSL make-up grew strong double digits on Lovenude Lip Blusher, All Hours Foundation and the newly launched Make Me Blush.

How is L'Oréal responding to GLP-1 drugs?

Hieronimus flagged GLP-1 weight-loss drugs as a structural shift. "The rise of the use of GLP-1 is having an impact on beauty consumption and skin care consumption, in particular," he said. SkinCeuticals and Kiehl's now sell products designed to work alongside the drugs and address side effects such as skin sagging — a formulation brief that competitors without dermocosmetics portfolios will find hard to match quickly.

E-commerce grew well ahead of the market, with what Hieronimus called "spectacular results across all regions, notably emerging markets", and he named artificial intelligence as the lever that will "augment the strengths of the L'Oréal model".

Based on the first nine months, Hieronimus said he is confident L'Oréal will deliver another year of sales and profit growth. The next data point to watch is the full-year results, where the durability of the skin care rebound — and the US reception of Dr.G — will be tested.