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When the health crisis was in full swing in France in 2020, many stores were forced to close their doors. The increase in home-based work, coupled with the mandatory wearing of masks in public spaces, did not help the situation for cosmetics groups. They have been heavily penalized, especially since their customers were falling back on online purchases of other products, such as skin care.
Cosmetics groups, including the world’s number one, L’Oréal, are forecasting a rebound in their make-up sales for the year 2021; a hope provided by the national vaccination campaigns.
With the gradual exit from the health crisis accompanied by the need to renew social relations, L’Oréal group CEO Nicolas Hieronimus predicts a strong recovery of the business. In an interview with Reuters, he notes that products such as mascara are coming back into favor, while new trends may emerge as the health crisis passes.
For example, consumers have been opting more for hair coloring, with shades such as blue. “This is a clear sign that people want to have fun and express their differences and individuality,” he adds.
In countries like Israel and China, where health restrictions have been lifted and stores are now open, the group is seeing a significant increase in sales, and adds that they will be able to reach their 2019 sales levels as early as this year. Sales in China have even been “spectacular” for the group; a rebound also observed by major luxury brands like LVMH.
Even if Jean-Paul Agon, the Chairman of the Board of Directors of L’Oréal, who gave up his position at the beginning of the month to Nicolas Hieronimus, is cautious for 2021, the group expects an increase in its results and sales, and remains optimistic for the future: “I even believe that when the crisis ends, it will be like the 1920s, the ‘roaring twenties. […] After years of anxiety, there will be a feeling of freedom, a return to partying, to the desire to go out and socialize, to wear perfume and make-up” he observed.
New products adapted to the health crisis
If the fall in cosmetics sales has weighed on the turnover of the L’Oreal group, which last year saw a 5% drop in net profit and 6.3% in revenues, the group will work to make the most of this rebound predicted in 2021. And this thanks to product launches, including a new cosmetics line for its Italian luxury brand Valentino.
Other L’Oréal brands have also innovated in their product releases, taking into account the health crisis. The cosmetics brand Nyx released earlier this year its lipstick “Shine Loud“, designed not to stick to clothes and by extension, intended to be worn with the mask without product transfer.
These innovations thought in times of health crisis could provide the L’Oreal group with the hoped-for rebound in sales for the year 2021, both online and in-store, hoping for a significant boost in attention from their customers. “While the world is changing, you have to know how to be agile,” summarizes the group’s CEO.
Read also > THE BEAUTY SECTOR STRONGLY IMPACTED BY THE CRISIS
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When the health crisis was in full swing in France in 2020, many stores were forced to close their doors. The increase in home-based work, coupled with the mandatory wearing of masks in public spaces, did not help the situation for cosmetics groups. They have been heavily penalized, especially since their customers were falling back on online purchases of other products, such as skin care.
Cosmetics groups, including the world’s number one, L’Oréal, are forecasting a rebound in their make-up sales for the year 2021; a hope provided by the national vaccination campaigns.
With the gradual exit from the health crisis accompanied by the need to renew social relations, L’Oréal group CEO Nicolas Hieronimus predicts a strong recovery of the business. In an interview with Reuters, he notes that products such as mascara are coming back into favor, while new trends may emerge as the health crisis passes.
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When the health crisis was in full swing in France in 2020, many stores were forced to close their doors. The increase in home-based work, coupled with the mandatory wearing of masks in public spaces, did not help the situation for cosmetics groups. They have been heavily penalized, especially since their customers were falling back on online purchases of other products, such as skin care.
Cosmetics groups, including the world’s number one, L’Oréal, are forecasting a rebound in their make-up sales for the year 2021; a hope provided by the national vaccination campaigns.
With the gradual exit from the health crisis accompanied by the need to renew social relations, L’Oréal group CEO Nicolas Hieronimus predicts a strong recovery of the business. In an interview with Reuters, he notes that products such as mascara are coming back into favor, while new trends may emerge as the health crisis passes.
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