PARIS – There was nothing dull last year about the complexion of the beauty industry, which maintained growth despite contrasting trends in geographic markets and product categories.
That was among the main takeaways from the financial analysts’ meeting hosted by Jean-Paul Agon, L’Oréal chairman and chief executive officer, on Friday at the company’s headquarters in the Paris suburb of Clichy. It was held the morning after the maker of Lancôme lipsticks and Vichy skin care published its results for 2017.
As reported, the world’s largest beauty company posted sales of 6.51 billion euros in the last three months of 2017, up 4.1 percent on a reported basis and 5.5 percent in like-for-like terms versus fourth-quarter 2016. For the full year, revenues came to 26.02 billion euros, gaining 0.7 percent on a reported basis and 4.8 percent in comparable terms.
At the opening of his wide-ranging presentation, Agon commemorated Liliane Bettencourt, L’Oréal’s founder’s sole child, who died Sept. 21 at age 94. He called her “an exceptional woman, who supported L’Oréal throughout her life.”
Agon said the company today is what it is thanks to her total commitment, “which has ensured our independence, our continuity and our ability to strategize for the long term. We