L’Oréal Groupe Confirms Strong Momentum with +6.5% Growth in 2026 Half-Year Results
Sales: 23.77 billion euros, +6.5% like-for-like[1] significantly ahead of the global beauty market.
- Sales: 23.77 billion euros, +6.5% like-for-like significantly ahead of the global beauty market.
- Growth in all Divisions with particularly remarkable performances from PPD and LDB.
- Growth in all regions with SAPMENA-SSA leading and North Asia pursuing its recovery.
- E-commerce up in double digits, growing nearly twice as fast as the market.
- Growth in both volume and value with a strong contribution from mix.
- 50-year exclusive worldwide beauty licence with Kering for the Gucci brand, effective on 1 July 2027.
Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said:
“L’Oréal delivered a strong first half. At +6.5% adjusted like-for-like growth, L’Oréal maintained its strong momentum and expanded its outperformance of the global beauty market. Growth – broad-based across all categories, divisions, and regions – was fuelled by two main engines: the seamless execution of our innovation strategy and our market-beating growth in e-commerce, the industry’s most dynamic channel.
Our virtuous P&L was on full display. Boosted by volume growth and strong mix improvement, our gross margin continued to expand. This, coupled with our ongoing focus on cost control, allowed us to increase our brand fuel by 70 basis points and deliver a record first half operating margin of 21.3%.
As we head into the second half, we are confident that demand for beauty remains strong. And we believe that we are uniquely well equipped to continue outperforming the market and despite the current context achieving another year of growth in sales and profit.
L’Oréal is truly one of a kind. Our historical brands are growing strongly and our portfolio keeps getting stronger thanks to recent additions, including Kering Beauté. Our innovation engine is firing on all cylinders – and AI will help it maintain its pace. Our teams on the ground keep leveraging fast-shifting distribution patterns – conquering online with digital excellence while creating exceptional brand experiences offline.
This makes us better positioned than ever to keep winning in beauty.”
Summary by Region
EUROPE - Adjusted like-for-like growth amounted to +6.1%.
NORTH AMERICA - Adjusted like-for-like growth amounted to +6.7%.
NORTH ASIA - Adjusted like-for-like growth amounted to +4.6%.
LATIN AMERICA - Adjusted like-for-like growth amounted to +5.2%.
SAPMENA–SSA (South Asia Pacific, Middle East, and North Africa – Sub Saharan Africa) - Adjusted like-for-like growth amounted to +13.8%.
In SAPMENA, growth was strong and broad-based. It was driven by a combination of volume and value. All Divisions and categories contributed.
By country, the performance was outstanding in Vietnam and very strong in the Australia-New Zealand cluster. Dermatological Beauty delivered exceptionally strong growth, fuelled by the continued momentum of La Roche-Posay and CeraVe. Professional Products was powered by Kérastase, and L'Oréal Professionnel. In Consumer Products, results were driven by L'Oréal Paris hair and makeup. Growth in the Luxe Division was driven by makeup and fragrances.
By category, haircare was particularly dynamic across the professional and mass segments, driven by the ongoing success of key pillars like Elsève and new launches. Skincare benefited from the continued rise of dermatological brands. Makeup was boosted by a strong innovation pipeline and the expansion of 3CE in South-East Asia. Fragrances grew strongly, powered by the Couture brands.
Across the region, e-commerce remained a key growth driver, notably in India, South-East Asia.
Sub-Saharan Africa (SSA) advanced in high single-digits, implying a gradual acceleration – with particularly strong contribution from the Dermatological Beauty, Luxe and Professional Products Divisions. South Africa remained the key growth engine with sales growing in double digits – well ahead of the market.
As part of the SAPMENA region, L'Oréal Thailand has continued to outperform the market by expanding its portfolio to meet the growing sophistication of local consumers. In skincare, the brand has introduced advanced dermatological solutions including SkinCeuticals and the Korean skincare brand Dr.G. Additionally, building on strong momentum in the haircare category, L'Oréal Thailand is launching Matrix—a world-leading professional hair care and color brand—along with the award-winning innovative haircare and styling brand Color Wow, comprehensively catering to the rising demands of both consumers and professional hairdressers across Thailand.
IMPORTANT EVENTS SINCE THE LAST PUBLICATION
STRATEGY
- L’Oréal entered a 50-year exclusive licence agreement with Kering for the creation, development, and distribution of fragrances and beauty products under the Gucci brand. The licence will come into effect on 1 July 2027, subject to regulatory approvals. Until that date, the two companies will work together to ensure a smooth and seamless transition to maintain business continuity and support the continued success of the brand.
- Creed, Bottega Veneta and Balenciaga have been consolidated in the financial statements since the beginning of April.
- L’Oréal signed an agreement to acquire a majority stake in Innovist, a leading personal care player in India. This move will further strengthen L’Oréal’s expansion in the fast-growing Indian beauty market by adding a portfolio of local brands addressing local consumer needs to its current roster. The transaction is expected to be completed in the next few months after regulatory approvals and other customary conditions.
RESEARCH, BEAUTY TECH AND DIGITAL
- L'Oréal and OpenAI announced a landmark collaboration to focus on AI-powered consumer journeys towards agentic commerce and AI-powered métiers from research and science to marketing.
- L’Oréal was named most innovative company in the consumer products sector by Fortune’s European ranking.
- At 2026 Viva Tech, L’Oréal showcased its latest Beauty Tech innovations centred around “AI-powered consumer & marketer journeys”, “Beauty at the speed of culture”, “Tech in hair” and “Longevity in skin”.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE PERFORMANCE
- L'Oréal renewed its Climate Emergency Fund with an additional €20 million commitment through 2030, to support the world's most vulnerable communities in the face of escalating climate-driven disasters.
- L'Oréal launched the third edition of its global #JoinTheRefillMovement campaign on World Refill Day – including more brands activations across social media, and ever-closer partnerships with retail partners.
