the world's biggest beauty company, took a beating in the first half 2020, but CEO Jean-Paul Agon insists the group is on the mend and showed "great resilience" during the pandemic.
Overall, sales fell 11.7% to E13.07 billion ($15.8 billion), but some divisions held up better than others. As one might suspect, professional product sales led declines, falling 21.7%; followed by L'Oréa Luxe (-14.9%) and Consumer Products (-10.4%). Active Cosmetics was the lone bright spot, as sales rose 6% within the division.
Sales fell in all regions, led by Western Europe (-13.1%) and followed by North America (-13.1%) and New Markets (-8.5%).
But there was some good news; sales in China are rebounding as sales rose 30% in Q2. Moreover, L'Oreal extended its leading position in digital and e-commerce, with e-commerce growing by +64.6% over the first half.