L'Oréal (OR) Fireside Chat summary

Introduction and agenda

• The session opened with a welcome and a role reversal, with Christophe Babule answering questions from David Greenberg, focusing on market trends, growth, and strategy.

Current industry trends

• Beauty market growth is gradually accelerating, with Q4 2025 expected to reach or exceed 4% growth, aligning with long-term trends.

• Positive momentum is seen in the U.S. and China, with Europe robust and emerging markets, especially Sub-Saharan Africa, driving growth.

• Skincare remains the largest and most sustainable growth category, while premiumization and digital engagement are key drivers.

• E-commerce and digital platforms, including social networks like TikTok, are increasingly central to consumer activation and sales.

• Fragrance and professional haircare are strong growth categories, with new consumer cohorts and premium brands fueling expansion.

Innovation and future outlook

• The next five years will see deeper integration of science and technology, especially AI and data, to deliver personalized beauty solutions.

• Longevity and products for an aging population are emerging as significant opportunities.

• Continued investment in R&I, digital, logistics, and supply chain is prioritized to support future growth.

• M&A remains a key growth lever, with recent successful acquisitions and a focus on identifying brands with international potential.