L’Oréal Chief Shares Beauty Insights

PARIS — Worldwide, the beauty market is growing at an estimated 5.5 percent — the best rate in a decade or more — albeit with strong contrasts in categories and in geographies, said Jean-Paul Agon, L’Oréal chairman and chief executive officer. He shared the information with financial analysts and journalists during a call Wednesday morning, following the release of the French beauty giant’s second-quarter and first-half results the prior night, after the close of the Paris Bourse. As previously reported, the group’s second-quarter sales growth, of 9.8 percent to 7.26 billion euros, was negatively impacted by business in North America. On a like-for-like basis, revenues advanced 6.8 percent, slightly missing analysts’ consensus. On Wednesday, L’Oréal’s stock closed down 2.2 percent to 242 euros. In 2019, the main growth drivers for the beauty market overall remain the same as in 2018, according to Agon. Category-wise it’s luxury, which is advancing by double digits, with especially strong demand in Asia and travel retail. There’s also dermo cosmetics, which is dynamic in all regions and fueled by the worldwide trend for health and wellness. “In terms of channels, travel retail is still very dynamic, particularly for luxury brands in Asia,” said Agon. “E-commerce is growing by double digits

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