L’Oréal’s Active Cosmetics division saw sales rise by 30.6% to €5.125 billion ($5.469 billion) in 2022, as it posted double-digit growth in all regions.
Sales growth was strongest in North America, South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa and mainland China as profits for the division hit 25.4%.
L’Oréal’s La Roche-Posay and CeraVe brands contributed to more than 80% of divisional growth, it said.
Active Cosmetics reported the strongest sales growth of all L’Oréal divisions, followed by L’Oréal Luxe (18.6%), Professional Products (18.3%) and Consumer Products (8.3%).
The company saw group-wide sales growth of 18.5% last year as the French beauty giant posted total revenue of €38.26 billion ($40.85 billion).
Total operating profit was €7.457 billion in 2022, up from €6.160 billion a year earlier.
Chief executive Nicolas Hieronimus said the beauty industry was entering a new era.
“It will be an increasingly multi polar era, more fragmented that in previous one, an AI and tech-led era with the highest expectations in terms of sustainability, purpose and cultural diversity,” he added.
Hieronimus was encouraged by L’Oréal’s 12% growth in hair care.
“Hair care has become the new skincare. We see longer hair, more diverse types of hair and great hair is increasingly a sign of health and use,” he said.
“People invest in it with a strong appetite for professional products and premium mass products. So the market is premiumizing and selective retail has made a growth category.”