On Thursday, local time, according to the Bloomberg Billionaires Index, the personal wealth of L'Oréal head Francoise Bettencourt Meyers reached $100.2 billion on December 28Become the first woman in the world to surpass the $100 billion mark。There is still a gap between Meyers' wealth and Arnault, the richest man in Europe and the second richest man in the world, the founder of LVMH. According to the latest figures, Arnault's fortune is around $179.4 billion. The dominance of luxury retail in France has also produced several other super-wealthy people, including the family behind Hermès, and the Wertheimer brothers, who own Chanel.
The rise in Meyers' net worth, along with L'Oréal's share price hitting a record high, is on track for its best full-year performance since 1998.
Meyers, 70, is the Vice-Chairman of L'Oréal's Board of Directors. She and her family own nearly 35% of L'Oréal, making it the single largest shareholder. Meyers' two sons are also board members. Meyers has been a director of the company since 1997.
According to public information, L'Oréal is the world's largest cosmetics group, with many well-known brands such as Lancôme, Armani, YSL, HR Helena, Kiehl's, Shu Uemura, Biotherm, Yuesai, Vichy, La Roche-Posay, Kérastase and so on. At the end of 1996, L'Oréal entered the Chinese market. Fifteen of L'Oréal's 26 internationally renowned brands are already listed in China, plus two local brands, bringing the total number of brands in China to 17, covering a wide range of sales channels such as major department stores, supermarkets, pharmacies, high-end professional hair salons and duty-free shops.
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In the early morning of October 20, Beijing time, L'Oréal Group released its performance data for the year ended September 30, 2023. According to the financial report, from January to September this year, L'Oreal Group's sales reached 3057.7 billion euros (about 2367 yuan.)5.4 billion yuan, converted at the current exchange rate, the same below), a year-on-year increase of 126%, an increase of 14% at constant exchange rates, a new high;Sales of 1000.3 billion euros (about 774 yuan.)6.7 billion yuan), a year-on-year increase of 111%, which continues to outperform the global beauty market.
L'Oréal said it saw double-digit growth across all major brands and categories in the division, thanks to disruptive and valuable innovations. When it comes to brands specifically, new products such as Maybelline New York's surreal mascara, L'Oréal Paris' "Matte Resistant" liquid lipstick and NYX's Fat Oil Gloss have boosted the brand's growth.
Thanks to a highly complementary portfolio of brands, the Science Beauty division (formerly L'Oréal Active Health) achieved significant growth in all regions. L'Oréal has recognized the La Roche-Posay brand by name, calling it the number one contributor to the growth of the Medical Aesthetics Division. CeraVe, SkinCeuticals, Vichy and others continue to maintain their growth momentum.
In addition, L'Oréal is continuing to optimize the division's brand portfolio, recently eliminating its spa brand Decléor and organic beauty brand Sanaflore.
The Professional Beauty Division has steadily accelerated quarter by quarter and continues to outperform the professional beauty market, with significant growth in Chinese mainland, India and the United States. L'Oréal says that consumer demand for quality hair care and complex daily care remains and that Kérastase continues to go from strength to strength in line with this trend.
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