Agility, audacity and attentiveness were the watchwords for 2021, says Cyril Chapuy, President, L’Oréal Luxe, who looks back on a remarkable year for the Division and talks about key trends in luxury beauty.
2021 was really a milestone year for L’Oréal Luxe. A grand cru, as we say in French. In terms of the performance of our brands across regions. In terms of the quality of our innovations in skincare, fragrance and makeup. And in terms of the progress on our commitments to sustainability.
Three words to describe 2021 for L’Oréal Luxe?
Firstly, agility. Once again, L’Oréal Luxe teams around the world had to face a very uncertain and rapidly changing luxury landscape, where the rules of the game were constantly being disrupted.
Next, Audacity. The Division kept its innovation strategy, and our brands rolled out strong launch plans, which enabled us to take full advantage of the rebound of the market.
And a third and final “A”, attentiveness, in the way that L’Oréal Luxe is deeply committed—as a Division and through its brands—to a more responsible and positive vision of luxury beauty.
What are you the most proud of in 2021?
First, I have to say that I am really proud of the level of luxury expertise, luxury savoir-faire, L’Oréal Luxe teams around the world demonstrated once again this year. Creating the best of luxury beauty both in terms of products, experiences and services.
Secondly, our very balanced growth model by categories, regions and distribution channels.
Category-wise, we are winning shares on all three métiers of Luxury.
Region-wise, we are winning in the Asian ecosystem, the core of luxury consumption today, but we also very strategically and successfully reshaped our business model in the USA and Europe, and we are gaining market share in those regions.
Channel-wise, as physical stores were reopening in 2021, we continued to elevate the physical experience in our stores, while accelerating in e commerce. Leveraging both channels and connecting them through data is for sure the future.
Another key 2021 highlight is the integration and roll-out of our acquisitions from the last two years. Prada, Valentino, Mugler and Azzaro in fragrances. Takami, our new Japanese champion in skincare. And I am very much looking forward to connecting with the teams from the new brand in our portfolio: Youth to the People.
Finally, here at L’Oréal Luxe, we are all really proud to celebrate our 11th consecutive year outperforming the luxury beauty market.
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Luxury Beauty Tech
What are the key trends in beauty luxury for the years to come?
Luxury beauty consumers are increasingly looking for conscious, responsible, transparent brands.
At L’Oréal Luxe, we are accelerating strongly on our commitments towards a more responsible and sustainable luxury beauty, with for example excellent progress in terms of refill, recharge and reuse of packaging.
And our brands are committed to causes that have a positive impact, such as Biotherm with Water Lovers—to protect the oceans—and Yves Saint Laurent with Abuse is Not Love—to prevent and fight against intimate partner violence.
Luxury beauty consumers are also looking for ever more exceptional, relevant and personalised services linked to their purchases. Tech has allowed us to make incredible progress in that area. The Shade Finder for foundation and Youth Finder for face care—both by Lancôme—are great examples of massive progress in that area.
Thanks to our luxury know-how, L’Oréal Luxe is crafted for future growth opportunities, to create the beauty that moves the world.
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