French cosmetics giant L’Oréal reported a 6.7% rise in first-quarter sales, supported by strong demand in North America and emerging markets, which helped offset softer performance in the Middle East.
The Paris-based company said sales for the three months ended March reached 12.2 billion euros ($14.32 billion) on a like-for-like basis, adjusted for inventory effects linked to its ongoing IT systems overhaul.
Growth was driven by premium haircare brands such as Kérastase and fragrances including YSL Libre. North America, L’Oréal’s second-largest market after Europe, posted a 7.6% increase in sales.
The company said geopolitical tensions and the US-Israel conflict with Iran affected demand in the Middle East, particularly in the UAE. However, other emerging markets delivered double-digit growth.
Sales in the region covering South Asia, the Middle East and Africa, which represented 9% of group sales last year, rose 15% during the quarter. Europe recorded 5.5% growth.
L’Oréal also reported mid to high single-digit growth in China, supported by strong demand for luxury beauty products.
The company said it remains optimistic about the outlook for the global beauty market despite ongoing macroeconomic and geopolitical uncertainties.
