L’Oréal Is Still Owning the Beauty Game

L’Oréal Is Still Owning the Beauty Game

In a world where a new beauty brand seems to launch every week, it’s easy to get distracted by the latest “viral” serum, mascara, or celebrity label. Yet through all the noise, one company has quietly and consistently stayed on top of the global beauty industry for decades: L’Oréal. As of 2024, it remains the world’s largest cosmetics and beauty company, with global sales above €43 billion and a powerful footprint across Europe, North America, and Asia.​

That kind of longevity and scale doesn’t happen by accident. It’s the result of a long-term strategy built on portfolio depth, relentless innovation, smart acquisitions, and a willingness to reinvent while staying anchored to a clear vision.

A Portfolio That Touches Every Consumer

L’Oréal doesn’t bet on one brand; it orchestrates an entire ecosystem. Across skincare, makeup, haircare, fragrance, and dermocosmetics, it owns more than 30 international brands that span mass, premium, luxury, and professional segments.​

• Mass and accessible: L’Oréal Paris, Garnier, Maybelline
• Dermatological and pharmacy-led: CeraVe, La Roche-Posay, Vichy, SkinCeuticals
• Luxury and prestige: Lancôme, Yves Saint Laurent Beauté, Giorgio Armani Beauty, Kiehl’s

This architecture allows L’Oréal to be present in supermarkets and pharmacies, department stores and specialty beauty chains, e-commerce and salons—covering almost every price point, retailer type, and consumer profile. When trends shift—from heavy makeup to “skinimalism,” from hair color to scalp care—the group already has a brand ready to lead that conversation.​

Relentless Innovation and Beauty-Tech

One of the biggest reasons L’Oréal is still a major player: it treats beauty like a tech-forward, R&D-driven industry. The company invests heavily in research, patents, and emerging technologies, turning concepts like AR and AI into everyday consumer tools.​

Through ModiFace, an AR company it acquired, L’Oréal powers virtual try-ons for makeup and hair color, allowing customers to experiment digitally before purchasing. AI now supports personalized recommendations, diagnostic tools for skin and hair, and even virtual beauty assistants to guide product selection online and in-store.​

This focus on “beauty-tech” helps L’Oréal stay relevant with digital-native consumers who expect seamless, interactive experiences rather than static product shelves. It also tightens the loop between data, personalization, and product development.

Strong Financial and Market Performance

Despite market volatility and changing consumer habits, L’Oréal continues to outpace the beauty sector at large. In the first half of 2024, it generated more than €22 billion in sales, with like-for-like growth that exceeded many competitors.​

Growth has been particularly strong in:

• Dermatological beauty, where brands like CeraVe, La Roche-Posay, and SkinCeuticals address skin health through science-backed formulations.​
• Luxury and premium, boosted by recovery in travel retail and sustained demand in Asia and the U.S.​

This combination of high-growth categories and broad regional presence provides resilience. If one region or segment softens, others often compensate.

Smart Acquisitions and Strategic Partnerships

L’Oréal has stayed ahead by buying, not just building, when it makes sense. The acquisition of ModiFace brought it in-house AR capabilities that many beauty brands still license from third parties. Buying science-driven brands like Skinbetter Science and CeraVe strengthened its position in the fast-growing dermocosmetic and medical-adjacent skincare space.​

Partnerships also matter. Its collaboration with Kering to help develop and manage beauty lines for fashion houses shows L’Oréal’s ability to operate as the “beauty engine” behind multiple luxury brands. Instead of standing still, it constantly reinforces its ecosystem with technology, expertise, and category expansion.​

A Clear, Adaptive Strategy

Underneath all the brand names and innovations sits a simple strategic idea: “Create the beauty that moves the world.” L’Oréal pursues this through:​

• Deep R&D and scientific innovation
• Global scale with local relevance (tailored launches, shades, and campaigns by market)
• Aggressive digital transformation across marketing, e-commerce, and operations

AI and data now sit at the center of its marketing engine, enabling faster creative production, precise media targeting, and localized storytelling in dozens of markets at once.​

The Moat: Reinvention Without Losing the Core

In an industry obsessed with “the next big thing,” L’Oréal is a reminder that real category leadership is built over decades, not product cycles. New brands trend; few last. L’Oréal stays ahead because it:

• Owns a portfolio, not just a single hero product
• Invests in platforms and technology as much as formulations
• Keeps reinventing its tools, experiences, and messages without abandoning its core mission

The result? When consumer preferences swing, L’Oréal doesn’t need to start from zero. It simply leans into a different part of its portfolio, upgrades the tech powering its experiences, and keeps moving.

For brand builders, the lesson is clear: depth beats hype. A resilient portfolio plus strong platforms plus continuous reinvention is far more powerful than a single blockbuster launch.

New beauty brands may spike, trend, and fade.
L’Oréal continues to lead—and it’s not by accident.