L'Oréal's Mass Beauty Division Posts $17.7B in Revenue as Haircare Leads Revival

Quick Facts

L’Oréal’s Consumer Products Division generated nearly €16.1 billion in revenue in 2025, up 3.5% on a like-for-like basis.
Haircare grew in double digits and was the division’s single biggest growth contributor, led by L’Oréal Paris Glycolic Gloss and Garnier Fructis Curl Method.
Emerging markets drove over 40% of L’Oréal’s total growth in 2025, with Vietnam up 31%, the GCC up 14%, and South Africa up 11%.

L’Oréal’s Consumer Products Division is executing a two-part mass market strategy: keep prices accessible while pushing product quality upward. Division president Alexis Perakis-Valat calls it “democratize and premiumize,” and the numbers show it is working in most regions.

The division closed 2025 with nearly €16.1 billion in revenue and like-for-like growth of 3.5%. That follows a stronger 2024 showing of 5.4% like-for-like growth. The wider L’Oréal group posted a turnover of €44.052 billion for full-year 2025, up 4% on a like-for-like basis.

Perakis-Valat broke down the division’s growth mix: “One-third is volume and two-thirds is value. We want this balance, because we need to lead premiumization, but at the same time to democratize.”

Haircare Carries the Division

Haircare advanced in double digits and was the top growth contributor across the division. Key products included L’Oréal Paris Glycolic Gloss and the newly launched Garnier Fructis Curl Method. L’Oréal Paris Elvive Collagen Lifter and Garnier Fructis Diamond Sleek drove strong results in emerging markets specifically.

Makeup remains a softer category, particularly in the United States. The division responded with a targeted innovation push: Maybelline New York Colossal Bubble Mascara, L’Oréal Paris Big Deal mascara, NYX Face Glue, and Maybelline Teddy Tint liquid lip all hit shelves as part of a recovery plan for the segment.

Skincare leaned on the L’Oréal Paris Revitalift franchise, including the Eye Bag Instant Eraser and a new Tri-peptides serum. Garnier added the Pimple Patch and Dry Touch Cream to its lineup.

Brand Wins and Market Position

The Consumer Products Division houses four global brands: L’Oréal Paris, Maybelline New York, Garnier, and NYX Professional Makeup. L’Oréal Paris crossed €7 billion in annual revenue back in 2023 during the division’s best growth year in over three decades, posting 12.6% like-for-like gains that year.

NYX Professional Makeup was named 2025 Mass Beauty Brand of the Year by Beauty Inc. The brand drove attention through a Minecraft Movie collection targeting gamers, pairing pop culture with product launches. Maybelline held its position as the No. 1 makeup brand worldwide despite a difficult market. Garnier posted low single-digit growth, led by haircare and hair color.

One area of concern: the Consumer Products Division slightly underperformed the broader mass market in 2024, even as L’Oréal’s luxury, dermatological, and professional divisions outpaced their respective categories.

Geography: Emerging Markets Pull Weight

Emerging markets are doing the heavy lifting. Brazil, Mexico, India, and Vietnam all delivered strong results. Vietnam grew 31% in 2025. The GCC rose 14%, South Africa 11%, and Mexico 9%.

North America showed notable improvement. The division outpaced the U.S. market in both makeup and haircare, supported by product innovation and a restructured go-to-market organization. In China, where the mass market remains soft, L’Oréal held the No. 1 position.

What It Means for Operators

L’Oréal’s mass division is betting that product quality and category-specific innovation can offset weak consumer sentiment in developed markets. The haircare pivot is a direct response to stalled makeup spending in the U.S.

For retail buyers and brand operators, the strategy signals that mass market growth in 2025 and beyond will likely come from emerging geographies and underserved categories rather than legacy strongholds like U.S. color cosmetics. Brands that can move fast on innovation while maintaining accessible price points have a clear path.