1648 ET - L'Oréal is strengthening its position in the U.S. market, where sales rose 27% to EUR11.8 billion in 2024. The French beauty conglomerate has a portfolio that includes 18 American brands such as CeraVe, Kiehl's, Maybelline and Ralph Lauren, which allows it to be very competitive with the American consumer, CEO Nicolas Hieronimus says. This past year, L'Oréal became for the first time the number 1 luxury beauty player in the U.S., Hieronimus says as an example of its growing market share in the U.S. market. "We have taken over our very good strong competitor Estée Lauder in its home territory of North America," the executive says. L'Oréal shares closed up 1.6%. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 21, 2025 16:48 ET (21:48 GMT)
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