L’Oréal reported Q3 2023 revenue slightly below consensus but above our expectations. The softer rebound in the Chinese beauty market and the impact of Beijing’s crackdown on Daigou on Asian travel retail led to a decline in North Asia.
However, the US and Europe delivered exceptional performances, fuelled by robust Consumer Product and Dermatological Beauty demand.
Despite China’s weakness, we maintain that L’Oréal’s greater diversification in business and geographical presence bolsters its ....
20 Oct 2023
Impressive growth outside China
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Impressive growth outside China
L’Oréal reported Q3 2023 revenue slightly below consensus but above our expectations. The softer rebound in the Chinese beauty market and the impact of Beijing’s crackdown on Daigou on Asian travel retail led to a decline in North Asia.
However, the US and Europe delivered exceptional performances, fuelled by robust Consumer Product and Dermatological Beauty demand.
Despite China’s weakness, we maintain that L’Oréal’s greater diversification in business and geographical presence bolsters its ....