Nicolas Hieronimus, the new CEO of L’Oreal, firmly believes that the make-up industry is set to make a strong comeback following the impact of the COVID-19 pandemic. As shops reopen and vaccines are rolled out, Hieronimus anticipates a surge in demand for brighter and bolder make-up colors as women seek to express themselves and break free from the constraints brought on by the crisis. This positive outlook is supported by the recent trend of women opting for shades of blue hair dye, which Hieronimus sees as a promising indicator.

While make-up sales in countries like China and Israel, where restrictions have eased, have not yet reached pre-pandemic levels, Hieronimus remains optimistic that this year could see a return to previous sales volumes. The increase in online conversations about make-up in the United States also suggests a growing demand for these products. L’Oreal experienced a decline in cosmetics sales, leading to a slump in their 2020 revenues. However, the company is now redirecting its focus towards launching new products and collaborations, including a cosmetics range for the renowned Italian luxury brand Valentino.

Hieronimus also recognizes the increasing demand for natural ingredients in beauty products and the significance of “beauty tech.” To enhance customer experiences, L’Oreal is investing in technology such as virtual try-on platforms and online consultations with professionals. Artificial intelligence is playing a crucial role in analyzing data on ingredients and textures, facilitating faster product development.

Aside from contending with competition from small brands that implement innovative product changes and successful social media campaigns, L’Oreal is also navigating the shift towards e-commerce. The company aims to increase its online sales from approximately 30% to 50% of total revenue in the coming years, with China already achieving this milestone. However, achieving this goal will require investments in the supply chain.

Overall, Hieronimus maintains a positive outlook on the future of the make-up industry and L’Oreal’s ability to adapt and thrive in a post-pandemic world. The resurgence of bold and vibrant make-up colors, advancements in technology, and a focus on sustainability will shape the beauty industry’s recovery and future success.

Useful links:
1. Vogue Business – L’Oreal CEO on the future of the beauty industry
2. CosmeticsDesign-Europe – L’Oreal CEO on post-pandemic beauty trends