Page 24 - ASUTIL 2024 Edition

INSIDER

L’Oréal’s brand value soars to $13.4 billion to remain most valuable
cosmetics brand

L’Oréal remains among the world’s L’Oréal for the Future campaign innovative solutions for carbon capture,
most valuable cosmetics brands, with its L’Oréal also earns the highest reforestation and ecosystem restoration.
brand value improving 11% to reach $13.4 Sustainability Perceptions Value (SPV)
billion, according to new data from Brand in the cosmetics ranking, at $1 billion. Gillette is second MVP
Finance. The brand’s ongoing commitment to Gillette trails as the second most
The French company’s brand value is sustainability is anchored in its “L’Oréal valuable cosmetics brand, with a brand
approximately 80% higher than its closest for the Future” campaign, launched in value increase of 13% to $7.4 billion. In
rival, per analysts. 2020, dedicated to tackling social and a testament to its enduring appeal and
According to the Brand Finance environmental challenges around the world. innovative strategy, and despite lower
report, L’Oréal’s brand value is tied to its Notably, in 2023, the brand introduced a consumer demand, the brand’s strategic
strategic focus on premiumization and new EUR15 million Climate Emergency pricing adjustments have driven growth in
innovation within the beauty industry. Fund, aimed at helping vulnerable sales revenue– showing that a strong brand
The brand’s approach to making high- communities build resilience against can return significant value through higher
end products more accessible in a market climate change-driven disasters. prices and according to Brand Finance data,
driven by supply has driven strong sales L’Oréal also advanced its Inclusive earn improved scores for perceived price
growth, indicating L’Oréal’s ability to align Sourcing program to help vulnerable premium at the same time. Gillette entered
product offerings with consumer demand people find employment, benefiting more a long-term partnership with the New York
for luxury at an attainable price point, than 93,000 individuals by the end of Yankees, which is likely to further improve
analysts say. 2023. Additionally, the brand expanded its familiarity amongst potential customers,
its environmental efforts by backing three analysts say.
pioneering projects through its Fund
for Nature Regeneration, focused on Natura strongest brand
Natura secures its place as the world’s
strongest cosmetics brand, despite a
slight 2% dip in brand value to $2 billion.
This minor decrease is overshadowed by
Natura’s customer loyalty and its high
scores in familiarity, recommendation,
and consideration. The brand’s reputation
remains exceptionally strong, testament to
its dedicated customer base.

Growth for Garnier
Part of the L’Oréal family, Garnier
emerges as one of the world’s fastest-
growing cosmetics brands, with its brand
value up 15% to $4.7 billion. As such, it
narrowly edges out Axe/Lynx/Ego, which
also saw a 14% boost to $1.9 billion.
Garnier’s success is a highlight within
L’Oréal’s Consumer Products Division,
which celebrated strong growth. Garnier’s
Vitamin C Brightening Serum has
become a beacon of success in skincare,
contributing to the division’s stellar
performance, analysts say.
Axe/Lynx/Ego’s brand value increase
is propelled by significant sales increases
while operating under different names in
different jurisdictions and also maintaining
high scores in familiarity globally. The
brand’s double-digit growth, fueled by
the rollout of its Fine Fragrance range,
underscores the effectiveness of Unilever’s
increased investment in digital marketing,
media, and ecommerce, coupled with a
strategic price hike.

ASUTIL Special Issue June 2024 24