Luxury Figures

L’Oréal: Solid Performance And Winning Acquisition Strategies in 2025

By Eva Morletto21 octobre 2025

After announcing the acquisition of Kering's beauty division yesterday, the world leader in cosmetics and beauty reported sales of €32.80 billion for the first nine months of 2025 this Tuesday, up 3.4% compared to the same period last year, based on comparable data.

The announcement of the figures for the first nine months of 2025 comes two days after L'Oréal announced the acquisition of the beauty division of the Kering group, such as Bottega Veneta fragrances (above) (Bottega Veneta)

Growth was seen across all divisions and geographic regions: the luxury division posted excellent performance and growth of +2.2%, due in part to the wake-up of the Chinese market, which is finally showing signs of recovery that are rather encouraging for the luxury market.

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“The global beauty market remains dynamic, with a gradual improvement in luxury. Our strength in e-commerce allows us to outperform what is currently the most dynamic channel,” commented the group's CEO, Nicolas Hieronimus, when the results were published.

For the third quarter of 2025, L'Oréal recorded a total of €10.33 billion and a remarkable increase of 4.2%, slightly below Bloomberg's estimate of €10.4 billion.

Many have had their eyes on L'Oréal since yesterday, as the group has just signed the largest acquisition in its more than century-long history: On Sunday, October 19, the cosmetics giant sealed a partnership with Kering by acquiring its beauty division for €4 billion, offering it an “exclusive 50-year licensing agreement” for Kering's iconic brands, such as Gucci and Bottega Veneta Beauty. As a reminder, the group's last major transaction was two years ago, when it acquired the Australian premium brand Aesop, valued at $2.52 billion.

This acquisition strategy has only continued to strengthen L'Oréal's position in the market: licenses for Prada, Miu Miu, Yves Saint Laurent, Emporio Armani, and Valentino fragrances and beauty products have been added to the group's portfolio over the years, multiplying its positive performance.

Although 2025 still presents a difficult economic environment that prevents major progress, growth has only accelerated throughout the year: in the first quarter, sales were up 2.6%, in the second quarter +3.7%, and in the third quarter +4.2%. The latter figure reached +4.9% when taking into account, as specified by the group in today's press release, “adjusted data for the phasing related to L'Oréal's IT transformation.”

This strategy may not be over yet: the beauty giant could soon turn its attention to Armani. In an interview with Le Figaro, Nicolas Hieronimus mentioned the possibility of an initial 15% stake in the Italian group, which has just lost its founder. This major announcement puts the group on a par with Kering and LVMH.

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