L’Oréal brand value reaches $13.4 billion
By Helena Biggs | 21 May 2024 | Movers & Shakers, News
The value of French cosmetics brand, L’Oréal, has soared by 11% in 12 months reached $13.4 billion, according to the Cosmetics 50 2024 ranking from brand valuation consultancy, Brand Finance.
It retains its title as the world’s most valuable cosmetics brand, with brand value understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The company boasts a brand value around 80% higher than its closest rival, credited by Brand Finance for making high-end products more accessible in a market driven by supply.
L’Oréal’s strong sales growth indicates the company’s ability to align product offerings with consumer demand for luxury at an attainable price point.
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The company also earns the highest Sustainability Perceptions Value (SPV) in the cosmetics ranking, at $1 billion. This is supported by its commitment to sustainability via the L’Oréal for the Future campaign, launched in 2020, which helps tackle social and environmental challenges around the world. In 2023, the brand introduced a Climate Emergency Fund, aimed at helping vulnerable communities build resilience against climate change-driven disasters. L’Oréal also advanced its Inclusive Sourcing programme to help vulnerable people find employment, benefiting more than 93,000 individuals by the end of 2023.
Natura secures its place as the world’s strongest cosmetics brand, despite a slight 2% dip in brand value to $2 billion. Garnier emerges as the world’s fastest-growing cosmetics brand, with its brand value up 15% to $4.7 billion: a highlight within L’Oréal’s Consumer Products Division.
“As the cosmetics industry evolves, these brands exemplify the dynamic shifts and strategic innovations driving growth and consumer engagement in the sector,” comments Annie Brown, director at Brand Finance. “The relentless pursuit of excellence by these leaders not only shapes the contours of the global beauty landscape, but also sets new benchmarks for success and sustainability in the industry.”