L’Oréal Group reports 5.1% growth in 2024 driven by dermatological skin-care

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L’Oréal Group, the largest beauty conglomerate in the world based on revenue, reported 5.1% growth for its full fiscal year 2024 on Thursday. The group reported sales of approximately $45.10 billion for the year with like-for-like growth across all regions except North Asia.

“We delivered solid, broad-based growth of 5.1%, once again outperforming the global beauty market,” Nicolas Hieronimus, CEO of L’Oréal, said in a release. “Excluding North Asia, where the Chinese ecosystem remained challenging, sales advanced in high single digits.”

Hieronimus highlighted several key accomplishments for the conglomerate in prepared statements, including acquiring its Miu Miu license and Korean brand Dr.G, as well as minority stakes in brands Galderma and Amouage.

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