Image credit: Photo by rupixen.com on Unsplash
AS THE worldâs largest cosmetics company, L’Oreal has been a trendsetter in skincare, makeup, perfume, haircare and more since its 1909 inception in Paris. The internationally-renown company recently reported higher-than-expected numbers for its 4th quarter, effectively surpassing competitors within the beauty industry. As worldwide consumers adjusted to the pandemic, L’Oreal was able to benefit from a major shift to online shopping. The company reported a 62% increase in online sales in 2020, whereas luxury retailers took the hit from closed duty-free shops in airports and high-end brick and mortar stores.
Over the previous months, the company has enjoyed international business growth, particularly in China, and has been able to meet consumersâ evolving needs and growing demand for both skincare and hair dye products. Thanks to these adjustments and more, L’Oreal closed out the October-December period at 7.88 billion e