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Brand Finance report: L'Oréal leads global cosmetics brand value growth
Brand Finance has found that major cosmetics brands globally are demonstrating robustness, even amidst a period of limited expansion in brand value.
Source: BW Confidential BW Confidential L'Oréal remains the world’s most valuable cosmetics brand
L'Oréal remains the world’s most valuable cosmetics brand, with its brand value improving 11% to reach a staggering $13.4bn.
The French brand boasts a value approximately 80% higher than its closest rival.
L'Oréal's brand value is intricately tied to its strategic focus on premiumisation and innovation within the beauty industry.
Its approach to making high-end products more accessible in a market driven by supply has driven strong sales growth, indicating L'Oréal's ability to align product offerings with consumer demand for luxury at an attainable price point.
Brands that are also doing well
Gillette trails as the second most valuable cosmetics brand, witnessing a brand value increase of 13% to $7.4bn.
Despite lower consumer demand, the brand’s strategic pricing adjustments have driven growth in sales revenue – showing that a strong brand can return significant value through higher prices and according to Brand Finance data, earn improved scores for perceived price premium at the same time.
Further, Gillette entered a long-term partnership with the New York Yankees, which is likely to further improve to its familiarity amongst potential customers.
Natura secures its place as the world's strongest cosmetics brand, despite a slight 2% dip in brand value to $2bn.
This minor decrease is overshadowed by Natura's unparalleled customer loyalty and its high scores in familiarity, recommendation, and consideration. The brand’s reputation remains exceptionally strong, a testament to its dedicated customer base.
Part of the L'Oréal family, Garnier emerges as the world’s fastest-growing cosmetics brand, with its brand value up 15% to $4.7bn.
As such, it narrowly edges out Axe/Lynx/Ego, which also enjoyed a 14% boost to $1.9bn.
Axe/Lynx/Ego's brand value increase is propelled by significant sales increases while operating under different names in different jurisdictions, while also maintaining high scores in familiarity globally.
The brand's double-digit growth, fuelled by the rollout of its Fine Fragrance range, underscores the effectiveness of Unilever's increased investment in digital marketing, media, and e-commerce, coupled with a strategic price hike.
Annie Brown, Brand Finance director, said: “As the cosmetics industry evolves, these brands exemplify the dynamic shifts and strategic innovations driving growth and consumer engagement in the sector. The relentless pursuit of excellence by these leaders not only shapes the contours of the global beauty landscape but also sets new benchmarks for success and sustainability in the industry.”
