January 20, 2021

Jean-Paul Agon Talks Beauty Business

PARIS — Despite an atypical beauty market so far this year, L’Oréal chairman and chief executive officer Jean-Paul Agon remains confident about the business at large.
Addressing financial analysts and journalists during a call on Friday — one day after the French beauty giant published its second-quarter and first-half results — Agon said “our estimates at the end of June show that once again the beauty market has held up well, with the pace of growth at around 4 percent — very similar to last year. The difference this year is that the growth is very contrasted by sector.
“Luxury is still championing the growth of the market, especially in Asia-Pacific and travel retail, while the makeup category is very dynamic [and] dermocosmetics continue to deliver a healthy growth. But the mass market has slowed down in most regions, notably in the U.S., as we mentioned earlier this year already. And professional is lagging behind,” Agon continued. “Across the board, e-commerce continues to increase very significantly. By region, volatility and consumption turbulences now occur within each zone. The French market remains difficult, but in the rest of Western Europe all sectors are strengthening — from mass to luxury. So overall, the zone continues

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