L'Oréal says weight-loss drugs are changing skin care sales
L'Oréal's CEO said the boom in GLP-1 weight-loss drugs is affecting beauty and skin care sales, the BBC and Business Standard reported. He called it "a very important phenomenon for us." The company sells products aimed at loose skin after fast weight loss.
The rise of weight-loss drugs is changing how people buy beauty and skin care products, the head of L'Oréal said Thursday, according to the BBC and Business Standard.
CEO Nicolas Hieronimus spoke on a call with investors after the company reported its sales, the outlets said. He called the use of GLP-1 drugs "a very important phenomenon for us." Their rise is "having an impact on beauty consumption and skin care consumption in particular," he said.
GLP-1 drugs include Ozempic, Wegovy and Mounjaro, the BBC reported. They were made to treat diabetes, but they also curb hunger and lead to major weight loss.
Fast weight loss can leave some people with loose skin, including on the face, the BBC reported. The drugs do not cause this directly, the BBC and Business Standard said. The change is often called "Ozempic face," Business Standard reported.
Hieronimus said some L'Oréal brands sell products designed to work alongside the drugs and help with sagging skin, the outlets reported.
L'Oréal is also testing products on people who use the drugs, Business Standard reported. "This group of consumers is becoming increasingly important," said Delphine Viguier-Hovasse, a company executive, according to Business Standard. Other beauty companies, including Galderma and Natura, are also studying products for this market, Business Standard said.
L'Oréal raised its stake in Galderma, a skin care firm, to 20% last December, the BBC reported. Galderma makes injectable products used to fill out the face.
L'Oréal also said its sales rose 7.7% in the three months to September, the outlets reported. That beat what analysts expected, the BBC said. Sales reached 11.56 billion euros, Business Standard said. All four of L'Oréal's divisions grew over the first nine months of the year.
L'Oréal owns brands including Maybelline and La Roche-Posay, the BBC said.
What we know: L'Oréal says GLP-1 drugs are affecting skin care sales, and it sells products aimed at their side effects.
What we don't: How much of L'Oréal's sales growth is tied to GLP-1 users.
Where outlets agree The BBC and Business Standard report that L'Oréal CEO Nicolas Hieronimus said the rise of GLP-1 weight-loss drugs is affecting skin care consumption.
Where they differ The cited reports agree on the key facts so far.