The CEO of L’Oréal, the world’s largest cosmetics company, says the performance in the Middle East was below expectations but somewhat compensated by a rebound of growth in China. Nicolas Hieronimus spoke exclusively with Bloomberg’s Francine Lacqua from Paris.<br>See omnystudio.com/listener for privacy information.

L'Oreal CEO Nicolas Hieronimus Talks Earnings, Consumer Demand

Bloomberg Talks

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[SPEAKER_01] Nicolas Hieronimus, thank you so much for joining us on Bloomberg. When you look at the trends from now until the end of the year, what are you most excited about? I know you've worked on innovation. The economy is what it is. Do people buy beauty differently?

[SPEAKER_00] Well, I think people buy beauty, which is the most important thing for me, is that beauty is a very dynamic category. And it shows once again its resilience in times of trouble. We call it, whether you call it the lipstick effect or the dopamine effect of beauty. The market's growing. It has accelerated a bit in Q2. And people are going for new, for innovation, for quality. And that's probably the reason behind our great first half at plus 6.5 percent, way above the market growth,

[SPEAKER_00] is that we brought a lot of innovation and of superior quality into the markets.

[SPEAKER_01] Is there a section of the markets? Because you're really exposed to, you know, some of the very high-end brands and some of the more mass market. Is there a section of those that is actually doing better than expected?

[SPEAKER_00] Well, the overall, what's great this year is that, and that's probably the strength of our portfolio, the breadth of our portfolio, which goes from products at 4 or 5 euros to product at 300, is that all our divisions and brands are contributing.

L'Oreal CEO Nicolas Hieronimus Talks Earnings, Consumer Demand

Read the full transcript

The candid version is on a podcast,
not the earnings call.

L'Oreal CEO Nicolas Hieronimus Talks Earnings, Consumer Demand

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.