WWD Beauty Inc Top 100
1. L’ORÉAL
CLICHY, FRANCE
2022 BEAUTY SALES:
$40.31 BILLION
€38.26 BILLION
+18.5% vs. 2021
Predominant Brands: CONSUMER PRODUCTS: L’Oréal Paris, Garnier, Maybelline Latest York, NYX Skilled Makeup, Stylenanda, Essie, Mixa. L’ORÉAL LUXE: Lancôme, Yves Saint Laurent, Giorgio Armani, Kiehl’s, Helena Rubinstein, Biotherm, Shu Uemura, IT Cosmetics, Ralph Lauren, Urban Decay, Mugler, Valentino, Viktor & Rolf, Maison Margiela, Azzaro, Takami, Prada, Diesel, Carita. PROFESSIONAL PRODUCTS: L’Oréal Professionnel, Redken, Kérastase, Matrix, Pureology. ACTIVE COSMETICS: La Roche-Posay, Vichy, SkinCeuticals, CeraVe, Skinbetter Science.
Key Financials:
Like-for-like sales: +10.9% vs. 2021
Operating profit: €7.46 billion, +21.0%
Net profit: €5.71 billion, + 24.1%
Sales by Division:
Skilled Products: €4.48 billion, +18.3% (+10.1% like-for-like)
Consumer Products: €14.02 billion, +14.6% (+8.3% like-for-like)
L’Oréal Luxe: €14.64 billion, +18.6% (+10.2% like-for-like)
Energetic Cosmetics: €5.12 billion, +30.6% (+21.9% like-for-like)
Sales by geographic zone:
Europe: €11.44 billion, +12.3% (+11.6% like-for-like)
North America: €10.16 billion, +24.6% (+10.4% like-for-like)
North Asia: €11.32 billion, +14.8% (+6.6% like-for-like)
SAPMENA — SSA [South Asia Pacific, Middle East, North Africa — Sub-Saharan Africa]: €2.96 billion, +28.1% (+22% like-for-like)
Latin America: €2.38 billion, +34.1% (+18.6% like-for-like)
Biggest markets: The U.S., China and France.
Putting the unique nature of 2021 aside, 2022 saw L’Oréal register its best growth in “greater than 20 years,” on a like-for-like basis and in three many years on a reported basis. Its revenues in the ultimate three months of the yr alone surpassed €10 billion, the primary time ever it has seen such high sales in a single quarter.
“The L’Oréal engine is firing on all cylinders and these translate into a rise in our over-performance versus the market in comparison with the pre-COVID-19 period,” said chief executive officer Nicolas Hieronimus through the company’s year-end conference call in February.
Hieronimus said the group’s recent geographical organization, put in place through the pandemic, has allowed it to reinforce coherency in each region by way of consumer profiles and market maturity, allowing it to maximise growth and control costs higher.
Currency impacts had a serious impact on the group’s reported numbers — greater than 7%.
All its divisions grew well in like-for-like terms: 10.1% for Skilled Products, 10.2% for L’Oréal Luxe despite the turbulence of the Chinese market, Energetic Cosmetics at +21.9% — the division has almost doubled its sales since 2019, in keeping with L’Oréal — and eight.3% at Consumer Products, that division’s best growth rate in 20 years.
Even in mainland China, L’Oréal’s sales rose 5.5% in a declining market, boosted by double-digit growth in e-commerce and a robust performance on Singles’ Day, in keeping with the corporate.
Consumer Products grew 8.3% on a world mass beauty market that was up 6% for the yr, in keeping with L’Oréal. Average price increases accounted for a big a part of that growth, but volumes were also up 2.6%. L’Oréal Paris — once more the world’s biggest beauty brand — gained 7% and Garnier was up 8%, because of its harnessing of green science and innovation. Maybelline and NYX Skilled, driven by a rebound in makeup, gained 16% and 21% respectively. Hair care grew double digits for the division too, because of a premiumized offer, gaining twice as fast because the market, L’Oréal said.
For the Skilled Products division, L’Oréal grew 10.1% on a market that it estimated at plus 5%. Kérastase surpassed €1 billion in sales for the primary time, becoming the division’s second “billionaire brand.” The division saw sales up 32% in China, now its number-two country, and gained 50% in India. Because the division continued to ramp up omnichannel and retail beyond its traditional salon focus, e-commerce and specialty retail represented 30% of its revenues.
L’Oréal Luxe reportedly outperformed the buoyant prestige beauty market as an entire for the twelfth yr running, ending up 18.6% at reported rates and up 10.2% like-for-like on an overall market that gained 8%. Luxury skincare gained 7%, while the market was up 2%, because of gains within the ultra-high-end segment with Helena Rubinstein and Lancôme Absolue, in addition to the addition of Takami and Youth to the People to the portfolio. Within the fast-growing fragrance category, L’Oréal gained 23% on a market up 17%, despite supply chain challenges. Libre by Yves Saint Laurent consolidated its position, and was the number-three scent in Europe. Prada Paradoxe, introduced last fall, was the highest women’s fragrance launch of the yr, in keeping with L’Oréal. Within the artisanal category, Asia was a high point for Maison Margiela, with sales up 19%. In makeup, Saint Laurent and the revamped Urban Decay drove double-digit gains. In North Asia, the division saw sales up 8% on an overall luxury beauty market that declined 2%. It said it registered its highest ever market share on the Chinese local market, at 30%. The division also gained market share in Asian travel retail. In North America, it saw sales up 7%, barely below the market, because it sought to revamp its business. Sellout there accelerated within the second half, L’Oréal said. Sales in Europe gained 16%, with double-digit growth seen in Germany, Spain, Italy and the U.K.
In October, L’Oréal said it was implementing a recent fragrance branch inside L’Oréal Luxe encompassing Maison Margiela, Atelier Cologne, Viktor & Rolf, Azzaro, Diesel and Cacharel, with Sandrine Groslier — who joined the corporate with its purchase of the Clarins fragrance business in 2020 and had been global president of Mugler Azzaro Beauté and Fashion under L’Oréal — as its global president. The aim of the division is to complement the group’s expertise and develop its mono-axis brands in keeping with the worldwide explosion of the fragrance category, Groslier said on the time. Oversight of Mugler was handed over to Danièle Lahana-Aidenbau.
For the Energetic Cosmetics division — which was renamed L’Oréal Dermatological Beauty originally of 2023 — L’Oréal said it grew 2.4 times faster than the market. La Roche-Posay was the world’s leading dermocosmetics brand, growing 23% and becoming the world’s sixth biggest skincare brand all segments combined. CeraVe gained 38% and was the number-two dermocosmetics brand worldwide and the number two across skincare within the U.S. Its growth was attributed largely to its international expansion because it entered the L’Oréal fold. It continued to ramp up its presence in medical skincare with the acquisition of Skinbetter Science. The division grew 3 times faster than the market within the U.S. and 6 times faster in China, L’Oréal said. Its sales in emerging markets gained 26%.
Regionally, Europe was the largest contributor to L’Oréal’s growth last yr, with sales up 11.6% like-for-like. The corporate also reported a turnaround for its business in North America, which exceeded €10 billion in sales for the primary time and saw like-for-like growth of 10.4%. In February 2022, David Greenberg was named chief executive officer of L’Oréal USA and president of the North America zone.
North Asia gained 6.6% like-for-like, thanks partly to double-digit gains in Japan and South Korea. In India, L’Oréal grew at twice the pace of the market overall.
Overall, brick-and-mortar returned to growth, gaining 11.7%, while e-commerce increased 8.9% and accounted for upwards of 28% of total sales.
On the sustainability front, L’Oréal said 97% of its recent products and renovations are actually eco-designed, with major advances in refillable solutions over the past yr and three quarters of PET packaging now coming from recycled sources — 82% of its hair care bottles were comprised of recycled plastic last yr. The corporate invested €22 million in ecosystem redevelopment and €30.8 million to support vulnerable women all over the world in 2022.
2. UNILEVER
LONDON
2022 BEAUTY SALES:
$25.11 BILLION (EST.)
€23.83 BILLION (EST.)
+18.3% vs. 2021 (EST.)
MAIN BRANDS: AHC, Axe/ Lynx, Clear, Dollar Shave Club, Dove, Dove Men+Care, Lifebuoy, Love Beauty and Planet, Lux, Nexxus, Pond’s, Rexona/Sure/Degree, Schmidt’s Naturals, SheaMoisture, Easy, Skinsei, St. Ives, Suave, Sunsilk/Seda/Sedal, TIGI, TRESemmé, Vaseline, The Right To Shower. Unilever Prestige: Dermalogica, Garancia, Hourglass, Kate Somerville, Living Proof, Murad, Paula’s Selection, Ren Clean Skincare, Tatcha, Paula’s Selection.
KEY FINANCIALS:
Unilever Beauty & Wellbeing:
Sales: €12.3 billion, +20.8% VS. 2021 (underlying sales growth +7.8%)
Operating profit: €2.15 billion, +0.9%
Unilever Personal Care:
Sales: €13.6 billion, +15.9% (underlying sales growth +7.9%)
Operating profit: €2.26 billion, -3.1%
Total company revenues: €60.07 billion, +14.5%
Operating profit: €10.76 billion, +23.6%
Net profit: €8.27 billion, +24.9%
It was one other turbulent yr for Unilever. In September, Alan Jope announced that he would step down in 2023 after five years on the helm of the firm. The yr also saw activist investor Nelson Peltz join Unilever’s board of directors after its botched try and take over GlaxoSmithKline’s consumer business.
Hein Schumacher will take over as Unilever’s recent CEO this July. Currently CEO of Royal FrieslandCampina, a world dairy and nutrition business with €11 billion in annual turnover, he was named a non-executive director of Unilever last yr.
Initiated under Jope, 2022 also saw Unilever implement its recent structure aiming to make the business simpler and more category focused. Its Beauty & Personal Care activity was split in two, creating the Beauty & Wellbeing and Personal Care entities.
The corporate said the brand new structure is already benefiting, allowing bolder and more rapid decision-making and improved accountability.
Unilever can be looking for to double down on its high-performing beauty and wellness categories. Within the latter, it snapped up a majority stake in Nutrafol, a high-end hair growth complement brand. This February, it announced the sale of private care and wonder brand Suave in North America to Yellow Wood Partners because it shifts toward what it views as strategic growth spaces.
In a context of inflation and provide chain woes, Unilever succeeded in weathering the storm and growing top line, largely because of price increases and the premiumization of its offer, although in most categories, volumes declined. For the Beauty & Wellbeing activity, this was the case for each skincare and hair care. Acquisitions added 3.8 percentage points to sales for the division, meanwhile.
In hair care, Sunsilk and Nexxus drove gains. Latin America, India and Turkey grew for the category, offset by weaker business in Europe and China. Skincare was driven by South and Southeast Asia, helped by Lifebuoy and the rollout of Vaseline’s Gluta-Hya products. Vaseline was one among the fastest-growing brands within the portfolio, and was boosted by the slugging trend on social media, with Gen Z users praising its advantages on TikTok. The brand saw double-digit gains within the U.S. and powerful growth in China, now its second market. AHC saw sales declines in North Asia.
Prestige Beauty continued to grow faster than the portfolio overall, with volume gains and double-digit sales growth, topping €1 billion in revenues, benefiting from growth within the premium segment, especially in skincare. Launch highlights included Living Proof Triple Bond Complex, Dermalogica Milkfoliant and Tatcha Indigo Overnight Repair Serum. The 2021 acquisition of Paula’s Selection and Hourglass’s continued expansion into China, in addition to Living Proof, bolstered sales.
In Personal Care, volume declines were higher in skin cleansing, particularly impacted by cost inflation. Volumes within the category held up higher in North America, Unilever said, supported by premium innovations like Dove Deep Moisture body wash with microbiome nutrient serum. Dove took its Real Beauty mission into the virtual world, creating a web based coalition dubbed Real Virtual Beauty to encourage developers to create a healthier, more diverse representation of ladies and girls in games worldwide.
Deodorants did well, with volumes up and double-digit sales gains. Rexona — in keeping with Nielsen data, the world’s number-one antiperspirant and deodorant brand with annual sales of greater than €2 billion — relaunched its core range globally, with what it claims is its simplest deodorant yet. Sales of Dollar Shave Club fell, and the corporate registered an impairment charge of €192 million related to that business.
Amongst other activities, SheaMoisture ramped up its initiatives to create recent opportunities helping Black entrepreneurs to thrive and published its inaugural impact report.
Clear, reportedly the world’s leading shampoo brand for men, introduced its first premium range targeting scalp health to stop hair fall, initially in China.
Dove and Unilever’s other PETA-approved brands joined forces with The Body Shop and NGOs to launch #SaveCrueltyFreeCosmetics, backed by a European Residents’ Initiative, a mechanism designed to assist European people shape policy by calling on the European Commission to propose recent laws, on this case to guard the EU’s ban on animal testing for cosmetics. Unilever was also a founding member of European cosmetics corporations’ Cosmetics Europe Commitment for our Planet Initiative.
3. THE ESTÉE LAUDER COS.
NEW YORK
2022 BEAUTY SALES:
$16.4 BILLION (EST.)
-7.8% vs. 2021 (EST.)
MAIN BRANDS: Estée Lauder, Aramis, Clinique, Lab Series, Origins, MAC, La Mer, Bobbi Brown, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, Tom Ford Beauty, Smashbox, Aerin Beauty, Le Labo, Editions de Parfums Frédéric Malle, Glamglow, Killian Paris, Too Faced, Dr. Jart+, Deciem: The Odd, Niod.
KEY FINANCIALS:
Skincare: $8.76 billion (EST.), -14%; 54% of total sales
Makeup: $4.43 billion (EST.), -2%; 27% of total sales
Fragrance: $2.48 billion (EST.), +7%; 15% of total sales
Hair: $643 million (EST.), +6%; 4% of total sales
China and Tom Ford dominated the news when it got here to the wonder giant for 2022. Rising COVID-19 cases in China continued to weigh on The Estée Lauder Cos. through the crucial holiday season, triggering declines on each the highest and bottom line in its fiscal second quarter ended Dec. 31.
“All told, our return to growth has shifted to the fourth quarter,” said Fabrizio Freda, president and CEO in an earnings call. “We’re encouraged by each our strong momentum in quite a few markets globally and improving macro trends.”
The corporate cited the evolution of the COVID-19 environment, including restrictions in mainland China and the rising variety of COVID-19 cases, as causes of stronger headwinds because the quarter progressed. In consequence, tourism and product shipments to Hainan remained largely curtailed and traffic in brick-and-mortar in the remainder of China was limited.
At the identical time, the business was also negatively impacted by the strong U.S. dollar, together with inflationary pressures and recession concerns, which caused certain retailers within the U.S. to tighten inventory.
Through the yr, Lauder announced an agreement to accumulate Tom Ford, marking the wonder giant’s first enterprise into the style world. The acquisition is Lauder’s largest thus far, following the corporate’s agreement to pay $2.2 billion for a majority position in Deciem in 2021. As a part of the deal, Ermenegildo Zegna Group and Marcolin SpA entered into long-term license agreements for Tom Ford fashion and Tom Ford eyewear, respectively. The deal valued the whole enterprise of Tom Ford at $2.8 billion. The quantity to be paid by Lauder for the acquisition is roughly $2.3 billion, net of a $250 million payment to Lauder at closing from Marcolin SpA. Funded through a mix of money, debt and deferred payments, it is predicted to shut within the fiscal fourth quarter ending this June.
Freda has previously said that Tom Ford Beauty, of which it already held the license prior to the acquisition, is predicted to attain $1 billion in net sales annually over the subsequent couple of years, “having promising profitable growth opportunities ahead.”
Staying in M&A, through its Latest Incubation Ventures arm, Lauder took a minority stake in Haeckels, owned by its founder Dom Bridges and angel investors, last February. It also made a long-term, global licensing agreement for Balmain Beauty, including collaboratively developing, producing and distributing luxury beauty products, the primary of that are expected to launch in fall 2024.
Elsewhere within the business, Glamglow, the one-time hot indie skincare brand that Lauder acquired in 2014 for an undisclosed amount, is following within the footsteps of sister brand Smashbox and exiting the U.K. and Ireland. The corporate continued to wind down the Aramis & Designer Fragrances division.
Aveda, meanwhile, launched in mainland China and The Odd entered India.
Lauder opened a distribution center for its travel-retail business in Switzerland, in addition to its first manufacturing facility in Asia Pacific and a China Innovation Labs in Shanghai because it positions to capture growth and speed up locally relevant innovation.
There have been also some changes to the chief structure. John Demsey, the chief group president who oversaw brands including MAC, Clinique, Too Faced, Glamglow, Smashbox and Tom Ford Beauty, was asked to go away the business after he posted a meme on Instagram that contained a racial slur and joke about COVID-19, while group president of international Cedric Prouvé retired in June. Peter Jueptner, previously in control of EMEA business, replaced him. The group’s brands are actually organized in two clusters led by executive group presidents Jane Hertzmark Hudis and Stéphane de La Faverie.
One one that doesn’t look prone to be going anywhere soon, nonetheless, is Freda. Despite speculation about who may lead The Estée Lauder Cos. next, Freda, who’s 65, said he’s “completely committed to proceed leading this company for the foreseeable future.”
4. PROCTER & GAMBLE
CINCINNATI
2022 BEAUTY SALES:
$14.4 BILLION (EST).
-1.3% vs. 2021 (EST.)
MAIN BRANDS:
Aussie, Bevel, Farmacy, First Aid Beauty, Gillette (deodorants), Hair Food, Head & Shoulders, Herbal Essences, Ivory, Native, Olay, Old Spice, OUAI, Pantene, Rejoice, Safeguard, Secret, SK-II, Snowberry, The Art of Shaving, Tula, VS.
KEY FINANCIALS:
Organic growth 2022: +2%
P&G Beauty delivered moderate organic sales growth despite the continuing impacts of the COVID-19 pandemic in China across the hair, skin and private care categories. Overall beauty sales, nonetheless, declined 1% year-over-year, while currency fluctuations also weighed on the corporate.
Among the many category mix, growth in P&G’s Hair Care portfolio was largely broad-based, although partially offset by a decline across P&G Hair Care’s China portfolio because of COVID-related headwinds. Pantene remained the number-one selling hair care brand on this planet, in keeping with Euromonitor.
SK-II was challenged by lockdowns and travel restrictions inside China, which severely hampered the brand’s duty-free business.
P&G’s personal care division, meanwhile, grew consistently with strong double-digits sales across the yr, spanning Old Spice, Safeguard and Secret.
During 2022, P&G Beauty acquired three specialty brands. First, it doubled down on skincare with the acquisition of Farmacy Beauty. Then it entered the fast-growing prestige hair care market with an agreement to accumulate Ouai, celebrity hairstylist Jen Atkin’s hair care and lifestyle brand. Lastly, it acquired Tula — a probiotic, superfoods-based skincare line founded by gastroenterologist Roshini Raj, Bobbi Brown cofounder Ken Landis and tech entrepreneur Dan Reich.
In March 2022, it announced the formation of P&G Specialty Beauty, a recent subdivision that features these brands together with First Aid Beauty. Inclusive of previous acquisitions Native and Walker & Co, these acquired brands proceed to grow disproportionately, with a collective sales increase of about 50% vs. yr ago, in keeping with P&G.
Most recently, in 2023, P&G Beauty acquired Mielle Organics, a Black-founded textured hair care brand that’s sold at major mass retailers, including Walmart, Goal and CVS, for an undisclosed sum, with the founders stressing that the deal will increase availability of products, and that there are not any plans to vary formulas.
In 2022 executive moves, Chris Heiert was named senior vp, specialty beauty, while Stephanie Headley was promoted to senior vp, Global Olay.
5. SHISEIDO
TOKYO
2022 BEAUTY SALES:
$8.19 BILLION (EST.)
¥1.07 TRILLION (EST.)
+5.7% vs. 2021 (EST.)
MAIN BRANDS: Shiseido, Clé de Peau Beauté, Nars, Drunk Elephant, Ipsa, The Ginza, Elixir, Anessa, Benefique, Haku, Prior, Maquillage, Aupres, Ulé, Sidekick, Inryu, Baum, Effectim, Gallinée. Fragrance: Narciso Rodriguez, Tory Burch, Issey Miyake, Zadig & Voltaire, Serge Lutens.
KEY FINANCIALS:
Constant-currency sales change: -3.9%
Like-for-like beauty sales growth: +0.9%
Operating profit: ¥46.6 billion, -53.7%
Net profit: ¥34.2 million, -27.1%
Sales by region:
Japan: ¥237.6 billion, -8.2% (+0.3% like-for-like)
China: ¥258.2 billion, -6% (-9.8%)
Remainder of Asia Pacific: ¥68 billion, +7% (+13%)
The Americas: ¥137.9 billion, +13.6% (+8.8%)
EMEA: ¥128.4 billion, +9.8% (+4%)
Travel Retail: ¥163.7 billion, +35.7% (+14.2%)
Shiseido, Japan’s largest beauty company, celebrated its one hundred and fiftieth anniversary in 2022 with an eye fixed to the longer term. The yr marked the second yr of its three yr “Win 2023 and Beyond” strategy, which was ideated to counteract the impact of COVID-19 at home and abroad. Under the strategy, Shiseido has executed a world transformation with an emphasis on profitability and money flow, by specializing in “skin beauty,” and restructuring its portfolio. For 2022, which the corporate designated a “Back to Growth” yr, the emphasis was on promoting global brands, accelerating the corporate’s digital transformation, and constructing recent factories and logistics systems. The plan worked: Sales within the Asia Pacific region grew 10.7%, although sales in Japan increased a modest 1.3% and the business in China declined by 10.7%. Nonetheless, sales within the Europe, Middle East and Africa region gained 10% and the Americas saw a rise of seven.7%. Travel retail bounced back with a 15.2% gain.
As a part of the give attention to skin beauty, Shiseido sold its Shiseido Skilled brand, whose hair care, color, styling and perm products are sold primarily in Japan and Asia, to Henkel. Shiseido retains 20% of the shares of the corporate succeeding the assets related to its business in Japan, with the aim to support the further growth of the business.
Following the transfer of its personal care business to High quality Today in July 2021, Shiseido announced the transfer of its manufacturing business of private care products conducted on the Kuku Factory in Japan and its Vietnam facility in August 2022. Through the transfer, Shiseido seeks to support High quality Today in constructing a management system that integrates manufacturing and sales, aiding the corporate’s sustainable growth.
In September 2022, the corporate acquired Gallinée, a London-based brand dedicated to caring for the skin’s microbiome. The range offers a patented complex of prebiotics, probiotics and postbiotics that nourish and strengthen the skin’s microbiome.
Through the yr, Shiseido launched three brands around its core business. Sidekick, a men’s skincare brand, launched in Japan and China, with the positioning of highlighting young men’s individuality and magnificence.
One other brand that launched in Japan and China was Inryu, a three-sku line created to enhance the general health of the skin from the within.
In Europe, Shiseido launched Ulé, the primary skincare brand powered by vertical farming with a view to creating the longer term of botanical beauty. In France, Ulé cultivates plants from all over the world on its Eco-Farm, which executives said enables it to take care of a brief supply chain, lessen the environmental impact and retain maximum freshness and potency.
Shiseido also invested in strengthening its China business, and has been specializing in innovation with local partners. In August, it announced it’s investing in Jiangsu Trautec Mecial Technology, an organization dedicated to the event and production of recombinant collagen-based biomaterials. In collaboration with an area partner, Plug and Play China, Shiseido is searching for partners from Chinese startups to work on future innovations.
In January 2023, Shiseido announced a recent management structure and succession plan. Masahiko Uotani became representative director, chairman and CEO of Shiseido Company Ltd., and Kentaro Fujiwara assumed the role of president and chief operating officer. Fujiwara was previously the CEO of Shiseido China, and it is predicted that Uotani will pass the reins to him in the subsequent two years.
On the sustainability front, Shiseido unveiled replaceable cosmetics packaging using a technology called LiquidForm, which realizes bottle molding and filling in a single step and reduces the usage of plastic by 70% and CO2 emissions by 70%. To have a good time its one hundred and fiftieth anniversary, Shiseido employees all over the world held a day of service, Camellia Day, during which employees participated in social motion programs to enhance society and the environment.
6. LVMH MOËT HENNESSY LOUIS VUITTON
PARIS
2022 BEAUTY SALES:
$8.13 BILLION (EST.)
€7.72 BILLION (EST.)
+16.9% vs. 2021 (EST.)
Predominant Brands: Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Fendi, Pucci, Acqua di Parma, Parfums Loewe, Profit Cosmetics, Make Up For Ever, Fresh. Maison Francis Kurkdjian (majority stake).Officine Universelle Bully, Stella by Stella McCartney. Kendo Brands: Bite Beauty, KVD Vegan Beauty, Marc Jacobs Beauty, Ole Henriksen, Fenty Beauty by Rihanna. Bulgari. Louis Vuitton. Sephora.
Key Financials:
Organic sales growth: +10%
LVMH Perfumes and Cosmetics revenue by region:
France: 9%
Remainder of Europe: 20%
U.S.: 19%
Japan: 5%;
Remainder of Asia: 35%;
Other markets: 12%.
Perfumes and Cosmetics Division benefit from recurring operations: €660 million, -3.5% vs. 2021.
Continuing success in fragrance and a rebound in makeup drove LVMH Moët Hennessy Louis Vuitton’s beauty business last yr. Despite a big sales increase overall, the continuing impact of the pandemic in Asia weighed on business, particularly the skincare category. Asia outside Japan accounted for 35% of the wonder activity’s sales last yr, compared with 42% a yr earlier and 45% in 2020. The corporate said innovation played a key role in its brands’ advances in 2022.
Parfums Christian Dior grew strongly worldwide, reinforcing its position in Europe and with strong momentum within the U.S., Japan, South Korea, Southeast Asia and the Middle East, in keeping with the corporate. Among the many brand’s fragrances, Sauvage grew well — it was reportedly the world’s bestselling fragrance across categories. Because the tide of recognition turned in favor of Johnny Depp, the scent’s face, following his highly media-covered defamation lawsuit against ex-wife Amber Heard, this provided a serious boon to sales. J’adore benefited from the worldwide launch of its Parfum d’Eau variant. Miss Dior did well and Dior Homme was boosted by the relaunch of Dior Homme Sport. High-end line Collection Privée also performed well, and added products by Francis Kurkdjian, the home’s recent creative director of fragrances. In skincare, premium products including a new edition of La Crème boosted sales. Latest lipsticks included a refillable version of Dior Addict and a new edition of Ceaselessly liquid foundation. The brand also initiated a recent sustainability roadmap for 2030, dubbed “Beauty as a Legacy,” with a broad range of targets including efforts to advertise biodiversity and cut its greenhouse gas emissions by 46% by 2030.
Guerlain also did well in fragrances, especially within the high-end category with L’Art et la Matière and Aqua Allegoria. The label highlighted its sustainability commitments, with Angelina Jolie acting because the face of its “Within the Name of Beauty” program.
Givenchy’s fragrance pillars, including L’Interdit and Irrésistible, also did well, and Gentleman introduced Réserve Privée, a collaboration with Glenmorangie whisky. Profit enhanced its position within the brow category, where it’s global market leader, with recent products. Make Up For Ever was driven by an innovation program developed with its makeup artists. Kenzo Parfums grew because of L’Absolue, a new edition of its pillar Flower by Kenzo scent. Maison Francis Kurkdjian saw strong gains within the U.S. and Europe and opened its first store in China. Acqua di Parma was driven by its Signatures of the Sun line, while Perfumes Loewe expanded internationally with a recent point-of-sale concept, boosting sales. Fenty Beauty doubled revenues because of expanded distribution and launch activity, with Fenty Skin growing strongly in body care. Officine Universelle Buly, acquired by LVMH in 2021, expanded its footprint, especially in Japan, and profited from growing brand awareness in Paris.
In March this yr, LVMH named Stéphane Rinderknech chairman and CEO of its Perfumes and Cosmetics division, overseeing all 15 of its brands, the primary time in many years that the business unit has been managed under a single executive. Rinderknech, a former L’Oréal executive who was most recently ceo of L’Oréal USA and president of its North America zone, joined LVMH in 2022 to move its hotel and leisure activities. Reporting to him, Véronique Courtois takes up the reins at Parfums Christian Dior from Laurent Kleitman, who’s leaving LVMH, and Gabrielle Saint-Genis Rodriguez takes over Courtois’ former role as the pinnacle of Guerlain. Courtois is the primary female ceos for Parfums Christian Dior.
7. BEIERSDORF
HAMBURG, GERMANY
2022 BEAUTY SALES:
$7.24 BILLION (EST.)
€6.87 BILLION (EST.)
+16.4% vs. 2021 (EST.)
Predominant Brands: Nivea, Eucerin, La Prairie, Labello, 8×4, Hidrofugal, Florena, Atrix, Aquaphor, Maestro, Coppertone.
Key Financials:
Consumer Division sales: €7.1 billion, +16.3% VS. 2021 (organic sales growth: +10.5%)
Consumer Division EBIT excluding special aspects: €880 million, +18.9%
Consumer Division sales by region:
Western Europe: €2.51 billion, +6.5% (+5.3% organic)
Eastern Europe: €599 million, +7.3% (+3.7%)
North America: €900 million, +39.3% (+17.6%)
Latin America: €941 million, +43.4% (+28.6%)
Africa/Asia/Australia: €2.19 billion, +14% (+10.2%).
Beiersdorf benefited from consumer interest in skin health, and netted a robust yr. Core brand Nivea gained market share in all regions but especially Europe, notably in Switzerland, the U.K. and Spain. Its total sales grew 13% to €4.65 billion, and there have been gains in each volume and price, driven by emerging markets, recent products and a robust performance of its basics. All key categories gained, especially deodorants, sun care and body care.
The Derma brands, Eucerin and Aquaphor, beat the billion-euro sales barrier for the primary time, netting revenues of €1.03 billion, up an enormous 29.9% in reported terms and 23.9% on an organic basis. The brands did particularly well within the U.S., Mexico and Germany. Eucerin’s face care, especially anti-pigmentation and pimples products, were strong performers. The brand’s sun care launched within the U.S., the world’s largest marketplace for the category. Online was a vital driver for the segment.
Sales within the prestige segment gained 9.3%, to €655 million, thanks largely to recovery in travel-retail and the uptick in brick-and-mortar in North America, although La Prairie’s China business suffered. The February 2022 acquisition of Chantecaille allowed the corporate to strengthen its presence within the selective channel, notably within the U.S., China and South Korea, it said.
Exchange rate impacts positively impacted sales for the Consumer division as an entire by 4.6 percentage points, while the Chantecaille acquisition added 1.2 points to growth.
Beiersdorf implemented a recent operating model for Nivea, based on marketing successes inside the Derma and Luxury categories, in addition to Health Care, to develop fewer but more impactful campaigns to enhance the consistency of messaging and brand identity for its mega-brand.
For the prestige portfolio, management changes followed the combination of Chantecaille. Philippe Lamy joined La Prairie Group as CEO in March last yr, taking up from Patrick Rasquinet, who’s now concentrating on broader responsibilities as executive board member for the Pharmacy and Selective Divisions, overseeing Eucerin, Hansaplast, La Prairie and Chantecaille. Emily Coleman, a 20-year L’Oréal veteran most recently senior vp at Urban Decay, took over from Sylvie Chantecaille as CEO of the brand in September.
Product innovation included Nivea Radiant & Beauty, for consumers with melanin-rich skin. There have been products developed especially for the Chinese and Asian markets, including Nivea Pro Sensitive Amino Acid face cleansing gel and the brand new Doukou body care range, in addition to Eucerin Even Radiance. Beiersdorf also claimed it was the primary skincare manufacturer to make use of ethanol comprised of recycled carbon dioxide, within the limited-edition Climate Care moisturizer under Nivea Men, which celebrated its centenary.
In December, the corporate announced it had acquired a majority stake in Belgium-based microbiome research specialist S-Biomedic, during which it had already invested in 2018.
8. CHANEL LTD.
LONDON
2022 BEAUTY SALES:
$7.05 BILLION (EST.)
€6.69 BILLION (EST.)
+10% vs. 2021 (EST.)
MAIN BRANDS: No.5, No.5 l’Eau, Gabrielle, Allure, Allure Sensuelle, Coco, Coco Mademoiselle, Coco Noir, Probability, Probability Eau Fraîche, Probability Eau Tendre, Probability Eau Vive, No.19, Cristalle, Allure Homme, Allure Homme Sport, Bleu de Chanel, Pour Monsieur, Antaeus, Egoiste, Les Exclusifs, Les Eaux de Chanel (fragrance). Sublimage, Le Lift, Hydra Beauty, Le Blanc, No.1 de Chanel (skincare, makeup, fragrance). Rouge Allure, Rouge Coco, Le Vernis, Inimitable, Le Volume, Dimensions, Les 4 Ombres, Ombre Première, Les Beiges, Vitalumière, Ultra Le Teint, Le Blanc, Sublimage, Joues Contrastes, Boy de Chanel, La Poudre Universelle (makeup).
KEY FINANCIALS:
Predominant markets: The U.S. China, Japan and France represented greater than half of 2022 sales.
Fragrance and makeup were Chanel’s most important contributors to sales growth in beauty last yr, although skincare also reportedly gained well. Its travel-retail business recovered in Western regions, but continued to be impacted by pandemic restrictions on travel in Asia.
In fragrance, all of Chanel’s pillar scents returned to growth, with strong performances from Coco Mademoiselle, Probability and Bleu de Chanel. N°5, which performed particularly well in 2021, its centenary yr, slowed somewhat.
Makeup grew, driven mainly by face and lip products, but remained below 2019 levels.
Skincare was boosted by the launch of recent line N°1 de Chanel and by growth in Asia. No. 1, introduced in early 2022, is predicated on the camellia flower; it accommodates 97% natural ingredients and features eco-designed packaging. It’s built around skincare, but in addition includes makeup products and a fragrance mist.
E-commerce sales grew worldwide, on each the brand’s own platforms and third-party sites. Retail expansion also continued, and Chanel opened greater than 30 recent boutiques, mainly in Asia.
In October, the home named a trio of world creative partners to steer the creation of its color cosmetics. Ammy Drammeh, Cécile Paravina and Valentina Li were named as the primary artists to hitch the Cometes Collective, which is described by Chanel as “a bunch of emerging talents shaping the longer term of beauty” with a pluralistic vision focused on collaboration.
Other initiatives last yr included an immersive exhibition dedicated to fragrances on the Grand Palais Ephémère in Paris, exploring their history through immersive installations and animations featuring scent pods and virtual reality.
8. NATURA & CO.
SÃO PAULO
2022 BEAUTY SALES:
$7.05 BILLION
R$36.35 BILLION
-9.5% vs. 2021
MAIN BRANDS: Natura (fragrance, makeup, skin, hair, sun and body care, toiletries). Aesop (skin, body and hair care, fragrance). The Body Shop. Avon (outside North America).
Key Financials:
Constant-currency growth VS. 2021: +0.4%
Natura & Co. Latin America net sales: R$22.03 billion, -1.7% (+6.3% at constant currency)
Avon International net sales: $R7.2 billion, -22.9% (-9.9%)
The Body Shop net sales: R$4.41 billion, -24.3% (-13.5%)
Aesop net sales: R$2.72 billion, +4.6% (+21%)
Gross profit: R$23.19 billion, -11%
Group consolidated net loss: R$2.86 billion, compared with net income of R$1.05 billion in 2021.
The challenges were each macroeconomic and structural for Brazil’s Natura & Co. in 2022. The weakness of the Brazilian real weighed heavily on its numbers, as did its ongoing integration of Avon and challenges at The Body Shop, impacted by changes in consumer behavior for the reason that pandemic.
Mid-year, Natura decided to press reset, transitioning to a less complicated holding company structure to enhance accountability for its 4 brands, Natura, Avon, The Body Shop and Aesop, now organized into 4 business units. The firm hopes the reorganization will help it reassess its growth model to stabilize the business, with the aim of improving profitability and money conversion, revising its cost structure and reviewing its global footprint.
Roberto Marquez, who had headed Natura & Co. for six years, stepped down as group CEO and executive chairman in June, on the time of the announcement, but remained on the corporate’s board to assist the transition through yr end. Natura & Co. eliminated the roles of sustainable growth officer and chief transformation officer. Fábio Barbosa, previously a non-executive director, stepped in as CEO.
This March, L’Oréal said it will acquire Aesop, which proceed to outperform Natura’s portfolio as an entire. Natura had put the brand up on the market with a view to finance the brand’s accelerated growth and supply value to the parent company and its stakeholders.
As to its performance, Natura & Co. said it saw improvement in constant-currency sales within the fourth quarter, and that it had made progress on the initiatives put in place.
The Natura brand saw strong momentum within the last three months of the yr, especially in Brazil, driven by consultant productivity and powerful performance at retail, with the brand expanding its brick-and-mortar footprint significantly through the yr. It also saw gains in the remainder of Latin America despite political and economic instability within the region, notably in Argentina, Chile and Peru.
Avon’s revenues in Brazil and Latin America declined for the yr as an entire, but improved significantly within the fourth quarter as Natura continues to restructure the brand, moving away from non-core categories and homing in on beauty. The corporate said this strengthened its confidence within the potential for ongoing integration of that business within the region. Its plans for Avon include optimizing the brand’s international footprint to give attention to profitable markets and reducing its cost structure.
Natura said it was “rightsizing” The Body Shop’s business, specializing in efficiencies and the brand’s core retail model within the face of difficult channel mix changes, notably within the U.K., its core market. It announced plans to shutter The Body Shop at Home within the U.S. and shut its dedicated distribution center within the U.K., in addition to restructure its global management, reducing leadership positions by 25% and global overhead staffing by 12%. The actions are intended to support margin expansion, money generation and revenue stabilization for the long run.
Aesop continued to outperform. The brand leaned into fragrance and made its hotly anticipated entry into China within the fourth quarter, with two physical stores and a domestic Tmall platform, exceeding expectations there.
10. COTY
NEW YORK
2022 BEAUTY SALES:
$5.3 BILLION (EST.)
+5% vs. 2021 (EST.)
MAIN BRANDS: LUXURY BEAUTY: Calvin Klein, Hugo Boss, Marc Jacobs, Chloé, Davidoff, Miu Miu, Lacoste, Tiffany & Co., Joop, Jil Sander, Roberto Cavalli, Escada (prestige fragrance). Philosophy (skincare, fragrance). SKKN (skincare). Kylie Beauty (cosmetics, skincare, baby care). Lancaster, Orveda (skincare). Gucci, Burberry (fragrance, color cosmetics).
CONSUMER BEAUTY: Cover Girl, Rimmel London, Max Factor, Bourjois, Manhattan, Miss Sporty (color cosmetics). Sally Hansen, Risqué (nail products). Adidas, Cenoura & Bronze, Paixão, Bozzano, Monage (body care). Jovan, Bruno Banani, David Beckham, Good Kind Pure, Land of the Free, Mexx, Vera Wang, Nautica (mass fragrance).
KEY FINANCIALS:
Prestige: $3.2 billion, +5%
Consumer: $2.1 billion, +3%
Americas $2.2 billion, +10%
EMEA: $2.4 billion, +1%
Asia Pacific: $0.7 billion, +2%
Coty performed well in 2022, spurred on by what CEO Sue Y. Nabi called the fragrance effect. Despite recession fears and sky-high inflation, Coty’s prestige fragrances were key to is performance, and in its latest earnings briefing, it cited recent innovations in its offering, including Burberry Hero Eau de Parfum and Burberry Her Elixir de Parfum, Hugo Boss Bottled Parfum and Gucci Flora Gorgeous Jasmine as delivering strong performances through the final three months of last yr.
In 2022, Coty sold its Lacoste fragrance license back to Lacoste by mutual agreement for an undisclosed sum, effective this yr, and renewed its licenses with Hugo Boss. WWD understands Lacoste has a giant footprint in Russia, an area from which Coty divested because of its invasion of Ukraine.
Coty’s strong performance in fragrance got here because the industry grappled with a shortage of glass and other materials akin to oils and alcohol, while the energy crisis has driven up glass prices.
Within the prestige sector, Coty launched Skkn by Kim in partnership with Kim Kardashian — a dear $630 direct-to-consumer, nine-step system, including a toner, exfoliator, hyaluronic acid serum, vitamin C8 serum, face cream, eye cream, oil drops and an evening oil. Meanwhile, Kylie Jenner’s brand, Kylie Cosmetics, rolled out in Brazil and Mexico.
Coty released recent targets to double its skincare sales, reaching between $500 million to $600 million by fiscal 2025. As a part of this, it is going to take Skkn by Kim and Kylie Skin, already anchored in North America, into EMEA in the approaching years. Kylie Skin can even be heading to Australia as a part of the plan.
In mass, Coty saw strong momentum in most of its key brands within the three months to the tip of December, with single-digit to double-digit revenue growth across Cover Girl, Rimmel, Max Factor, Adidas and Monange. 2022 also saw Queen Latifah rejoin Cover Girl.
On the human resources front, Coty inaugurated a gender-neutral parental leave policy, while Andrew Stanleick left his role as executive vp, Americas and global ceo of Coty’s three way partnership with Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Beauty brand to develop into ceo of Beauty Health. Anna von Bayern, Coty’s chief corporate affairs officer, now helms the Kardashian/Jenner brands. Dr. Shimei Fan was named chief scientific officer.
11. BATH & BODY WORKS
COLUMBUS, OHIO
2022 BEAUTY SALES
$4.6 BILLION (EST.)
-1.2% vs. 2021 (EST.)
MAIN BRANDS: Bath & Body Works (fragrance, body care, hand care).
KEY FINANCIALS:
U.S.: 85% of sales
In 2022, Bath & Body Works, whose most important three categories are body care, home fragrance and soaps and sanitizers, saw total sales barely decrease by 1.2%.
Inside that, body care slipped 0.8% to $3.03 billion, soaps and sanitizers were down 8.6% to $1.06 billion, while gifting increased 15.8% to $507 million.
Bath & Body Works’ men’s business continued to be its fastest-growing category in body care because it tested recent forms and merchandising ideas, while the U.S. remained its biggest market, accounting for 85% of total sales.
Its loyalty program launched nationwide in August, with the corporate stating that its enrollment speed is one among the fastest within the industry, with 33 million members thus far. Loyalty sales represented roughly two-thirds of its U.S. sales since launch.
The largest news of the yr, nonetheless, related to executive changes. In May, Andrew M. Meslow stepped down as CEO because of health reasons. He was succeeded by Sarah E. Nash as interim CEO until December, when Gina Boswell, a former Unilever executive, was named CEO.
In August 2022, the corporate revealed that it had eliminated about 130 roles, the vast majority of which were leadership positions because it pursued “quite a lot of initiatives to enhance financial performance and higher position the organization for long-term growth.”
Most recently, Daniel Loeb’s Third Point fund, which owns a 6% stake in Bath & Body Works, called for shareholder representation on the board to ease concerns concerning the company’s corporate governance and decision-making processes. Bath & Body Work’s board of directors has slammed activist investor Third Point’s proxy challenge as “misguided,” suggesting that it’s since the retailer rejected Third Point’s “ultimatum” that it appoint a former worker of the hedge fund to its board.
12. KAO CORP.
TOKYO
2022 BEAUTY SALES:
$4.33 BILLION (EST.)
¥565.47 BILLION (EST.)
+4.6% (EST.)
MAIN BRANDS: Allie, Athletia, Curél, Est, Freeplus, Kanebo, Kate, Molton Brown, RMK, Sensai, Sofina iP, Suqqu, Unlics, Asience, Bioré, Blauné, Cape, Essential, Guhl, Jergens, John Frieda, Liese, Merit, My Kirei, Rerise, Segreta, Success, Goldwell, KMS, Oribe
KEY FINANCIALS:
Net sales: ¥1.55 trillion (+9.3% vs. 2021, +3.7% like-for-like)
Operating profit: ¥110.07 billion (-23.3%)
Net profit: ¥86.04 billion (-21.5%)
Health and Beauty Care sales: ¥369.5 billion, +4.2% (-1.8% like-for-like)
Cosmetics sales: ¥251.5 billion, +5.1% (+0.8%)
Cosmetics sales Japan: ¥160.7 billion, +5.1% (+5.1%)
Cosmetics sales remainder of Asia: ¥59.6 billion, +3.0% (-10.1%)
Cosmetics sales Americas: ¥6.8 billion, +15.1% (-4.1%)
Cosmetics sales Europe: ¥24.4 billion, +7.5% (+0.4%)
Many aspects weighed on Kao’s ends in 2022, including lockdowns and a cooling market in China, logistics disruption within the U.S., and global inflation, driving consumers toward lower priced products. Kao worked to pay attention investment in core brands, push digital and implement strategic price increases to counterbalance a difficult context.
In December, the group announced leadership changes for its Cosmetics business unit. As of Jan. 1 this yr, Yosuke Maezawa took over management of the activity globally. President of Kao’s prestige cosmetics business, he takes on the titles of senior executive officer of the worldwide cosmetics business and becomes president and representative director of Kanebo Cosmetics Inc. and chairperson for Molton Brown. Mark Johnson, previously head of Molton Brown, is now president of its cosmetics business within the Americas and Europe, the Middle East and Africa.
For the Cosmetics business, sales overall were up last yr because of a gradual market recovery at home and the corporate’s strategy of concentrating on its 11 biggest brands, including Kanebo prestige skincare and makeup and Kate makeup. Under the latter, Lip Monster did well. Kao said it had made advances through the yr toward reducing fixed costs and implementing structural reforms for its makeup business.
Chinese sales for the division declined not simply because of lockdowns and an overall market slowdown — Kao said the rise of local manufacturers and changes to distribution channels also substantially impacted its business there.
European cosmetics sales were flat, attributed to inflationary pressure on consumers, even though it said each Sensai and Molton Brown had gained market share.
Throughout the Health and Beauty Care business, skincare sales were up, boosted by sun products and other seasonal products because of a hot summer at home. Category sales within the U.S. declined, nonetheless, because of inflationary pressure.
Hair care sales were down, although Kao noted that high-end brand Oribe remained strong because of growth online and in its core salon channel. Domestic mass-market hair care sales fell, and the corporate said it had begun a fundamental business transformation for the category within the fiercely competitive segment. Profitability decreased significantly due largely to inflationary pressure on raw materials.
Key initiatives included a recent brand for Gen Z men dubbed Unclics, which launched online in December with a makeup base and lotion, with five serums added to the lineup this January. It announced plans to remodel its Toyohashi manufacturing plant, which mainly makes skin and hair care products, into an integrated supply chain base using robots and AI to navigate fluctuation in demand and Japan’s shrinking workforce. It also joined U.S.-based biotech firm Genomatica’s enterprise to scale and commercialize more sustainable, plant-based alternatives to palm oil. Unilever can be a founding member of that enterprise.
13. JOHNSON & JOHNSON
NEW BRUNSWICK, NEW JERSEY
2022 BEAUTY SALES:
$4.3 BILLION (EST.)
-4.4% vs. 2021 (EST.)
MAIN BRANDS: Aveeno, Bebe, Biafine, Clean & Clear, Dabao, Dr. Ci:Labo, Exuviance, Le Petit Marseillais, Lubriderm, NeoStrata, Neutrogena, Piz Buin, Sundown (skin and body care, including sunscreen). Maui Moisture, OGX, Rogaine (hair care).
KEY FINANCIALS:
Total Consumer Health Sales: $15 billion, +2.7% vs. 2021
U.S. skin health/beauty sales: $2.3 billion, -4.2% vs. 2021.
International skin health/beauty sales: $2 billion, -5.9% vs. 2021
Top markets: U.S., China.
Johnson & Johnson announced its plans to carve out its Consumer Health business in 2021, and that effort continues to be underway. In May of 2022, the corporate named Thibaut Mongon and Paul Ruh as its designate CEO and CFO, respectively. As announced last yr, that company will likely be called Kenvue. It is predicted to launch in 2023.
Supply constraints hindered growth within the skin health and wonder division last yr, but those losses were partially offset by successful launches in Asia Pacific and Latin America. China sales also took successful given COVID-19-related constraints.
The corporate told investors after the third quarter that overseas markets had grown, driven by product innovation from Neutrogena and Aveeno.
Within the U.S., in keeping with data from IRI, Neutrogena’s concealer sales within the mass market channel grew 26.8% last yr. Moisturizers and antiaging treatments fell double and single-digits, respectively. For the yr, it held its top spot in makeup removers. Aveeno’s cleansers, moisturizers and lotions all reaped single-digit gains.
For the last quarter, Neutrogena performed well in each club and e-commerce channels, in keeping with the corporate, and Consumer Health overall grew double-digits for that point period.
Within the skin health and wonder portfolio, key initiatives addressed the science of skincare with forays into the metaverse and several other takes at addressing skin health equity, akin to increasing the variety of dermatologists from minority groups and raising awareness around chronic diseases amongst Black consumers.
14. Mary Kay
Addison, Texas
2022 BEAUTY SALES:
$4.1 BILLION (EST.)
+5.1% vs. 2021 (EST.)
MAIN BRANDS: Mary Kay (skincare, makeup, bath and body care, fragrance), Mary Kay Naturally, TimeWise, TimeWise Repair, Botanical Effects, Satin Hands, Satin Body, Satin Lips, Clear Proof, Mary Kay Clinical Solutions (skincare). MKMen (men’s skincare, fragrance), Mary Kay Chromafusion (makeup).
KEY FINANCIALS: N/A
There may be change at the highest for historic direct seller Mary Kay. Ryan Rogers, grandson of Mary Kay Ash, has been named CEO, effective in early 2023. He replaces David Holl, who has retired after 30 years but stays board chairman. Rogers, who joined the corporate in 2000, was most recently chief investment officer. Nathan Moore was named president of world sales and marketing, while James Whatley was promoted to chief information officer. Sheryl Adkins-Green was named chief experience officer.
In 2022, May Kay leaned into skincare with recent products that capitalized on trending ingredients, like Mary Kay Clinical Solutions Ferulic + Niacinamide Brightener. By way of sustainability, Mary Kay reduced nearly 500,000 kilos of plastic from 2020-22 and approved 16 recent sustainable packages for future products. In China, the corporate initiated Pearl Retrieval Project to assist girls from disadvantaged backgrounds to finish their highschool education.
15. HENKEL
DÜSSELDORF, GERMANY
2022 BEAUTY SALES:
$3.77 BILLION (EST.)
€3.58 BILLION (EST.)
+2.6% vs. 2021 (EST.)
MAIN BRANDS: RETAIL: Schwarzkopf, Syoss, Dial, Fa, Diadermine, N.A.E. (skin, hair and body care). Nature Box (hair and body care). PROFESSIONAL: Igora, BC Bonacure, Osis, Silhouette, Indola, BlondMe, Essensity, Fibre Plex, Scalp Clinix, SexyHair, Alterna, Kenra Skilled, Joico, Zotos Skilled, Oil Ultime, Mad About, Chroma ID, TBH – True Beautiful Honest, Authentic Beauty Concept (hair care and color), Statement (grooming).
KEY FINANCIALS:
Beauty Care division preliminary sales: €3.78 billion, +2.6% vs. 2021 (organic sales -0.5%)
Beauty Care division adjusted operating profit: €296 million, -15.7%
Preliminary group sales: €22.4 billion, +11.6%
Henkel advanced with its restructuring, merging its Beauty Care and Laundry & Home Care business right into a single Consumer Brands business unit ahead of schedule. The merger is predicted to deliver €500 million in synergies and €250 million in savings by the tip of 2023. The most important revamp includes divesting and discontinuing operations with combined sales of €1 billion across Henkel’s portfolio. Throughout the consumer beauty portfolio, activities representing around €200 million were discontinued last yr, Henkel said, without going into specifics.
Other levers include optimizing supply chain across the business, reducing expenses through combined scale and R&D synergies — for instance with joint innovation between the hair care and laundry activities.
In April 2022, Henkel said it will be exiting Russia.
Henkel’s Beauty Care sales for the yr grew 2.6% in reported terms, to €3.78 billion, but increases were mainly driven by inflation, and on an organic level, revenues were up a fractional 0.5%; volumes actually dropped 9.4%. The business did well in North America and Western Europe, and saw double-digit growth in emerging markets except for Asia Pacific, severely impacted by pandemic containment measures in China. Within the mass market, which accounts for around two-thirds of Henkel’s beauty sales, hairstyling gained double digits organically, but hair color was negative as demand normalized after the pandemic. Body care was also down, attributed to the portfolio optimization measures. Henkel’s sales within the skilled segment, nonetheless, grew strongly, driven by double-digit organic gains in emerging markets.
Key initiatives for its brands included Schwarzkopf Skilled’s collaboration with start-up The Unseen to introduce what it claims is the world’s first prismatic, holographic hair color that reacts to temperature, dubbed Color Alchemy. The temporary color needs no pre-lightning or bleaching. Authentic Beauty Concept implemented a new edition of its in-salon Refill Bar.
In October, Henkel announced the launch of the primary business-to-business-to-consumer hyper-personalized skilled hair care brand, SalonLab&Me, based on hair evaluation by the stylist with a tailored device combined with a dedicated online sales platform linked to the precise salon. In addition to suggesting a personalised bundle of products, consumers can customize their labels and preferred fragrance.
16. PUIG
BARCELONA, SPAIN
2022 BEAUTY SALES:
$3.52 BILLION (EST.)
€3.34 BILLION (EST.)
+40% vs. 2021 (EST.)
MAIN BRANDS: Paco Rabanne, Carolina Herrera, Jean Paul Gaultier, Nina Ricci, Charlotte Tilbury, Byredo, Penhaligon’s, L’Artisan Parfumeur, Christian Louboutin, Comme des Garçons Parfums, Kama Ayurveda, Loto del Sur, Uriage, Apivita, Antonio Banderas, Shakira, United Colours of Benetton, Adolfo Dominguez.
KEY FINANCIALS:
Predominant markets: The U.S., U.K. and Spain combined accounted for 36% of estimated beauty sales.
Puig’s business was on fire in 2022, when its strength in artisanal and prestige fragrances — accentuated by the acquisition of Byredo from Manzanita Capital through the yr — and powerful growth from Charlotte Tilbury drove a 40% gain in sales overall. As such, the family owned Spanish company surpassed its 2023 sales goal of €3 billion a yr ahead of schedule.
The strongest growth got here from the Americas. The U.S. has been Puig’s largest market since 2021.
Puig grew above the market average in all three of the core beauty categories, reportedly capturing market share. While high-end fragrance and makeup were the largest drivers, it also saw growth in dermo-cosmetics after shifting its corporate structure in 2020 to raised represent and tap into distinct categories.
In May, Puig acquired a majority stake in Byredo, the high-end brand created by Ben Gorham in 2006 which is alleged do to greater than $100 million in annual sales. It had been owned by London-based Manzanita, which retains a minority stake, since 2013. Gorham stayed on as chief creative officer.
Puig also upped its stakes in Colombian natural cosmetics brand Loto del Sur and Indian beauty and wellness brand Kama Ayurveda, becoming majority owner of each after investing in minority stakes in separate deals in 2019.
Major launches included Fame from Paco Rabanne, a sister for Phantom, introduced a yr earlier, intended to herald a recent era for the label’s women’s scents, more aligned with the style brand, which Puig also owns.
In January 2023, former Puig executive Fernando Aleu passed away at 93. He’s credited with constructing the corporate’s business Stateside starting within the Sixties, contributing to the success of Paco Rabanne and inking Puig’s long-standing relationship with Carolina Herrera.
17. COLGATE-PALMOLIVE
NEW YORK
2022 BEAUTY SALES:
$3.41 BILLION (EST.)
-2% vs. 2021 (EST.)
MAIN BRANDS: Palmolive, Speed Stick, Sanex, Protex, Caprice, Lady Speed Stick, Softsoap, Irish Spring, Tom’s of Maine (deodorant, skincare, lip care), PCA Skin, EltaMD (skilled skincare), Laboratoires Filorga Cosmétiques.
KEY FINANCIALS:
Total company sales: $17.97 billion, +3.2%
Oral, Personal Care and Home Care sales: : $14.25 billion, +1.0%
Oral, Personal and Home Care sales by region:
North America: $3.82 billion, +3.5%
Latin America: $4.0 billion, +9.3%
Europe: $2.55 billion, -10.2%
Asia Pacific: $2.83 billion, -1.1%
Africa Eurasia: $1.08 billion, +2.9%
Despite a slight decline in its estimated beauty sales overall, price hikes across a lot of its categories drove sales increases in key areas for Colgate-Palmolive. Personal care sales grew, the corporate said, but skincare sales declined organically. But signs suggest the corporate’s deeper move into the highly profitable skilled beauty industry with EltaMD and PCA Skin (which were purchased in 2017) is paying off. It saw overall sales gains for its oral, personal and residential care activities within the North America, Latin America and African Eurasian regions, although numbers were down in Europe and Asia Pacific. Efforts to shore up online sales also boosted business, with e-commerce sales expanding double digits in 2022.
Colgate unleashed a slew of recent items including an expanded array of sunscreens in recent forms under the EltaMD Skincare range. Its UV Clear Broad-Spectrum SPF 46 was reportedly the bestselling prestige skincare product within the U.S. because of a formula that doesn’t exacerbate acne-prone skin and is infused with ingredients like niacinamide. The product received a lift from exposure on social media, especially TikTok.
EltaMD, which is sold primarily through dermatologists’ offices, spas and on Amazon, leveraged its popularity in sun care to expand beyond its core range. As well as, Colgate broadened its skilled products within the PCA portfolio, including the Brighten: Therapeutic Blackberry Mask and a number of recent facial peels. Laboratories Filorga rolled out recent advanced eye treatments, akin to Time-Filler Eyes 5XP, which features five inspirations from aesthetic medicine techniques and targets five separate eye zones.
The corporate has undertaken major restructuring and upskilling programs. In January 2022, it launched a Global Productivity Initiative, designed to allocate resources more effectively to growth areas, drive efficiencies in operations and streamline the availability chain. The upskilling initiative is meant to enhance digital and data skills.
18. AMOREPACIFIC
SEOUL
2022 BEAUTY SALES:
$3.39 BILLION (EST.)
KRW 4.37 TRILLION (EST.)
-17.2% vs. 2021 (EST.)
MAIN BRANDS: Sulwhasoo, Laneige, Innisfree, Etude, Amorepacific, Hera, Iope, Mamonde, Primera, Aestura, Bro&Suggestions, Be Ready, Sienu, Holitual, Enough Project, Onhope, Custom.me (skincare and makeup), Illiyoon, Ryo, Mise-en-Scene, Blissful Bath, Amos Skilled, Labo-H, Longtake (hair & body care), Goutal (fragrance).
KEY FINANCIALS:
Amorepacific Group total sales: KRW 4.5 trillion, -15.6%
Amorepacific Group operating profit: KRW 271.9 billion, -23.7%
Domestic beauty sales: KRW 2.81 trillion, -19.4%
Beauty sales in the remainder of Asia: KRW 1.29 trillion, -23.7%
Beauty sales in North America: KRW 181.4 billion, +83.4%
It was a troublesome yr for South Korea’s beauty leaders. With a rather lesser sales decline than its biggest competitor LG Household & Health Care, Amorepacific returned to the highest spot among the many country’s cosmetics players by a margin. However it continued to be hampered by lackluster demand at home and was heavily impacted by sales declines in China, which had been a key marketplace for its international expansion and accounted for 60% of its sales in Asia outside of its home market. Outside Asia, the corporate succeeded in accelerating.
North America was a selected area of focus, and its sales increased 83% because of the expansion of Sulwhasoo, Innisfree and Laneige, which was a bestseller on Amazon Prime Day. The corporate acquired clean beauty brand Tata Harper, with plans to expand it internationally and enhance its profitability by leveraging scale and streamlining processes.
Europe also grew well, with sales up 37% thanks largely to Laneige. The corporate launched in Japanese retail and saw strong performance for Sulwhasoo and Laneige in ASEAN countries.
In December, Kim Seunghwan was named president of subsidiary Amorepacific Corp., which houses the vast majority of the group’s beauty operations and its business. He had been CEO of parent company Amorepacific Group since 2021, charged with reviewing the basics of the business in an unfavorable context. He’s now charged with accelerating the unit’s global expansion and tapping recent opportunities. Lee Sangmok, a former vp at Amorepacific Corp., took over as president at Amorepacific Group.
The firm worked to speed up its shift online, expanding partnerships with e-commerce platforms and enhancing digital marketing. One focus was Amore Mall, Amorepacific’s multibrand online platform, and one other was partnering with influencers to reinforce brand awareness amongst Millennials and Gen Z. This resulted in growth in domestic sales online. Core brand Innisfree increased e-commerce sales and returned to operating profit. Etude grew in multibrand shops and online, and likewise returned to profit because of an improved channel mix and a decrease in fixed costs, in keeping with the corporate. Domestic travel-retail sales, which accounted for 22% of total revenues in South Korea, saw double-digit declines.
Strengthening the identity of key brands and their star products continued to be a spotlight. Laneige introduced the Water Bank Blue Hyaluronic line and personalized services. Its Lip Sleeping Mask did particularly well in North America. Makeup brand Espoir and hair care line Amos Skilled grew sales.
19. LG HOUSEHOLD & HEALTH CARE
SEOUL
2022 BEAUTY SALES:
$3.38 BILLION (EST.)
KRW 4.35 TRILLION (EST.)
-21% vs. 2021 (EST.)
MAIN BRANDS: Beauty division: The History of Whoo, Su:m37°, O Hui, Belif, VDL, CNP, CNP Rx, (luxury skincare, makeup), Jane Packer (fragrance). Dr Belmeur, Yehwadam, Isa Knox, Sooryehan, VDIVOV, fmgt (premium skincare, makeup). The Face Shop, Beyond, Avon (Within the U.S., Canada and Puerto Rico) (skin, body and hair care, makeup, fragrance). The Crème Shop (skincare, makeup). +Freshian (vegan makeup). Home Care & Every day Beauty division: Veilment, On: The Body (body care), Physiogel (skin and body care, in Asia and North America). Fruits & Passion (body care, fragrance). Elastine, Dr.Groot, ReEn, Organist, Arctic Fox (hair care).
KEY FINANCIALS:
Total Sales: KRW 7.19 trillion, -11.2% vs. 2021
International sales: -15%
Operating profit: KRW 711 billion, -44.9%
Beauty division sales: KRW 3.21 trillion, -27.7%
Beauty division operating profit: KRW 309 billion, -64.7%
It was a troublesome yr for LG Household & Health Care in the wonder space, hampered by sluggish demand at home and abroad. Travel retail and China, each of which have been key aspects in the corporate’s growth in recent times, were particularly hard hit. Beauty Division sales in travel retail fell 43% year-on-year. Within the fourth quarter, LG H&H reported a net lack of KRW 108.8 billion, its first quarterly deficit in 18 years.
Cha Suk-yong, who had led LG H&H for 18 years, stepped down “to clear the way in which for younger generations,” in keeping with the corporate. In December, Le Jung-ae, most recently head of the corporate’s refreshment business, took over as president and CEO, the corporate’s first female CEO — and one among only a few among the many Top 100 beauty firms. Having also previously led its household goods and luxury cosmetics activity, she is seen as having the understanding of the general business and organization to steer it into the longer term.
Strategic priorities for LG H&Hinclude continuing to grow its business Stateside — seen as a serious opportunity because of the continuing K-pop wave — and reducing its international operations’ dependence on China.
In June, LG H&H signed a deal to accumulate a 65% stake in U.S.-based The Crème Shop for $121 million. The U.S.-based K-Beauty brand targets younger consumers through collaborations with characters from Hello Kitty, Disney and BT21. LG plans to foster its U.S. business because of the acquisition. The acquisition follows the 2019 acquisition of Latest Avon and in 2021, that of Boinca, best known for its Arctic Fox hair coloring line.
By way of 2022 sales, LG’s core brand in the luxurious space, The History of Whoo, posted a 38% year-on-year sales decline. O Hui did well, nonetheless, gaining 17%.
For the Every day Beauty activity, inflation and more price-sensitive consumers hindered growth, and profitability was impacted by prices, exchange rates and wages. Nevertheless, the corporate said it continued to take a position in premium brand marketing for the division. Veilment body care grew 22% year-on-year, and dermocosmetics brand Physiogel gained 17%.
20. KOSÉ CORP.
TOKYO
2022 BEAUTY SALES:
$2.21 BILLION (EST.)
¥289.14 BILLION (EST.)
+7.5% vs. 2021 (EST.)
Predominant Brands: Decorté, Sekkisei, Jill Stuart, Addiction, Clear Turn, One by Kosé, Infinity, Crie, Esprique, Visée, Fasio, Elsia, Nail Holic, Softymo, Je l’aime, Kokutousei, Grace One, Suncut, Prédia, Paul Stuart, Awake, Imprea, Albion, Tarte, Phil Naturnt, Formule, Maihada, Stephen Knoll Latest York, Cell Radiance, Spawake, Carté HD.
KEY FINANCIALS:
(Based on restated numbers for 2021 to account for the change in Kosé’s fiscal yr end to December)
Company net sales: ¥289.14 billion, +7.5%
Operating Profit: ¥22.12 billion, +41.1%
Cosmetics sales: ¥234.97 billion, +7.9%
Cosmetaries sales: ¥52.23 billion, +6.2%
Japan sales: ¥163.04 billion, +7.3%
Remainder of Asia: ¥80.79 billion, +0.5%
North America: ¥40.14 billion, +22.7%
Other: ¥5.17 billion, +32%
An uptick within the Japanese economy, increased sales of its premium products — notably the Decorté and Albion brands — in shops and specialty stores at home, and brisk business for Tarte within the U.S. and Europe, meant it was a robust yr overall for Kosé.
The Japanese player outpaced its internal growth forecasts, notably because of better-than-expected sales within the latter a part of the yr. This was despite the impact of lockdowns in China and a decline in sales in South Korea, it said.
In China, sales were sluggish, however the yen’s devaluation meant a slight uptick for sales in reported terms. Kosé said its travel-retail sales in China remained strong, picking up within the second half as travel restrictions were lifted on Hainan Island. South Korean travel-retail business suffered from the absence of Chinese travelers there.
On the domestic market, recovery in demand for makeup drove Jill Stuart and Addiction. Despite sluggish demand for prestige skincare in Japanese drugstores, Kosé said it increased its market share within the sensitive skincare market.
Within the U.S., Tarte maintained its prestige makeup market share, strengthening its lineup in concealers, mascara and other key categories. Increased distribution and currency effects led to increased sales in reported terms. Tarte also drove gains in European sales — notably because of the launch of Sephora’s U.K. business from October. Overall, the brand’s bestsellers and recent product introductions did well, and Tarte grew its sales by 27.1%, although the brand’s operating profit declined.
For the Cosmetaries business, sales of Bioliss hair care were sluggish, but Clear Turn and Stephen Knoll Latest York grew, meaning an uptick in revenues for the division overall.
Kosé also improved its profitability significantly, because of cost control and inventory reduction, mainly in China, despite the inflation of raw material prices and the weak yen.
21. L’OCCITANE INTERNATIONAL S.A.
PLAN-LES-OUATES, SWITZERLAND
2022 BEAUTY SALES:
$2.15 BILLION (EST.)
€2.04 BILLION (EST.)
+17.3% vs. 2021 (EST.)
MAIN BRANDS: L’Occitane en Provence (skin, hair, body and men’s care; fragrance; makeup). Elemis. Melvita. L’Occitane au Brésil. Erborian. LimeLife, Sol de Janeiro, Grown Alchemist (majority stake).
KEY FINANCIALS:
Constant currency sales growth: +11.5% (EST.) vs. 2021
Nine months to Dec. 31, 2022:
Net sales: €1.6 billion, +16.5%
Constant currency sales progression: +10.6%
Online sales: 31.2% of total
Sales by brand:
L’Occitane en Provence €1.12 billion, +3.1% (-0.9% at constant currency, excluding China and Russia, the brand grew 5.9%)
Elemis: €181.6 million, +11.3% (+5.3%)
Sol de Janeiro: €158.8 million (+96%)
Others: €145.3 million, +12.6% (+5.5%)
Sales by region:
Asia Pacific: €686.4 million, -0.6% at constant currency, +7% excluding China
Americas: €492.2 million, +53.7%
EMEA: €423.8 million, -0.3%, or +9.2% excluding Russia
22. THE WELLA CO.
NEW YORK / GENEVA, SWITZERLAND
2022 BEAUTY SALES:
$2.02 BILLION (EST.)
-1.2% vs. 2021 (EST.)
MAIN BRANDS:
Wella Professionals, Wella Retail, Nioxin, Clairol Skilled, Clairol Retail, Sebastian Skilled, weDo, System Skilled, Londa/Kadus Skilled, Sassoon Skilled
Briogeo (hair). OPI (nail).
KEY FINANCIALS:
Constant-currency sales growth:
Total beauty, excluding GHD appliances: +6%
Pro Hair: +3%
Nail +12.7%
Retail Hair: +11.5%
23. REVLON INC.
NEW YORK
2022 BEAUTY SALES:
$2.0 BILLION (EST.)
-3.8% vs. 2021 (EST.)
MAIN BRANDS: Revlon: Revlon, Revlon Skilled, Revlon Colorsilk. Elizabeth Arden: Ceramide, Prevage, Eight Hour. Portfolio: Almay, American Crew, CND, Mitchum, Cutex, Crème of Nature, Natural Honey, SinfulColors, D:Fi, Orofluido. Fragrances: Juicy Couture, John Varvatos, AllSaints, Britney Spears, Giorgio Beverly Hills, Ed Hardy, Christina Aguilera, Jennifer Aniston, Lucky Brand, Halston, Geoffrey Beene, Alfred Sung, Mariah Carey, Elizabeth Taylor, P.S.
KEY FINANCIALS:
(Nine months ended Sept. 30, 2022)
Revlon net sales: $544.9 million, +4.4% vs. 2021
Elizabeth Arden net sales: $347.7 million, -3.3%
Portfolio net sales: $268.4 million, -12.6%
Fragrances net sales: $229.6 million, -16.4%
24. GROUPE CLARINS
NEUILLY-SUR-SEINE, FRANCE
2022 BEAUTY SALES:
$1.84 BILLION (EST.)
€1.75 BILLION (EST.)
+4.2% vs. 2021 (EST.)
MAIN BRANDS: Clarins (skincare, makeup), Clarins Men (men’s skincare). MY BLEND.
KEY FINANCIALS (EST.):
Like-for-like sales growth: +15% vs. 2021
Product category breakdown:
Skincare: 92%
Makeup: 8%
Growth by category:
Skincare: +15%
Makeup: +13%
International sales: 93% of business.
Growth by region:
Europe +4% (+10% excluding Russia)
Asia Pacific +16%
Americas +22%
Middle East & Africa +34%
Travel Retail +33%.
Growth in largest markets:
Mainland China: +6%
U.K.: +3%
France: +9%
Spain: +23%
Direct-to-consumer :+12% (x2 vs. 2019).
25. GROUPE ROCHER
ISSY-LES-MOULINEAUX, FRANCE
2022 BEAUTY SALES:
$1.78 BILLION (EST.)
€1.69 BILLION (EST.)
-10% vs. 2021 (EST.)
MAIN BRANDS: Yves Rocher (makeup, fragrance, skin and body care). Arbonne (skincare, cosmetics). Stanhome (beauty and private care) Kiotis (skin and body care, fragrance). Dr. Pierre Ricaud (skin and body care, makeup). Sabon (skin and body care). Flormar (makeup). ID Parfums (fragrance).
KEY FINANCIALS (EST.):
N/A
26. RODAN + FIELDS
SAN FRANCISCO
2022 BEAUTY SALES:
$1.55 BILLION (EST.)
-3.1% vs. 2021 (EST.)
MAIN BRANDS: Recharge, Redefine, Reverse, Unblemish, Soothe, Enhancements, Essentials, Spotless, Volume, Total RF Serum (skincare) Smooth, Volume, R+F Haircare (haircare)
KEY FINANCIALS:
Top markets: U.S., Canada, Australia
27. GROUPE PIERRE FABRE
PARIS
2022 BEAUTY SALES:
$1.51 BILLION (EST.)
€1.43 BILLION (EST.)
+10.8% vs. 2021 (EST.)
MAIN BRANDS: Eau Thermale Avène, A-Derma, Dexeryl, Darrow, Glytone (skin and body care). Ducray, Klorane (skin, hair and body care). René Furterer (hair care).
KEY FINANCIALS:
International sales: 73% of beauty revenues
Biggest international markets: China, Spain, Italy, Germany
Group sales: €2.7 billion, +10.1% vs. 2021
28. AMWAY
ADA, MICHIGAN
2022 BEAUTY SALES:
$1.42 BILLION (EST.)
-2.6% vs. 2021 (EST.)
MAIN BRANDS: Amway: Artistry, Artistry Studio, Artistry Skin Nutrition, Artistry Men (skincare), Body Series/G&H (body care), Satinique, Ertia (hair care).
KEY FINANCIALS:
Total sales: $8.1 billion, -9% VS. 2021
Top Beauty Markets: Mainland China, the U.S., South Korea.
29. GRUPO BOTICÁRIO
CURITIBA, BRAZIL
2022 BEAUTY SALES:
$1.32 BILLION (EST.)
R$6.79 BILLION (EST.)
+9% vs. 2021 (EST.)
MAIN BRANDS: O Boticário (skin, body and hair care, makeup, fragrance). The Beauty Box (hair, bath and body care). Eume (hair care). Eudora, Quem Disse, Berenice?, Vult. O.U.I., Dr. Jones.
KEY FINANCIALS:
N/A
30. VICTORIA’S SECRET & CO.
COLUMBUS, OHIO
2022 BEAUTY SALES:
$1.3 BILLION (EST.)
+6% vs. 2021 (EST.)
Predominant Brands: Victoria’s Secret: Bombshell, Tease, Bare, Very Sexy, Love, The Mist Collection, VS Him, Natural Beauty Body Care, Lip. Pink Beauty (fragrance, mists and lotion).
KEY FINANCIALS
North America: Approx. 70% of sales
31. POLA ORBIS HOLDINGS
TOKYO
2022 BEAUTY SALES:
$1.24 BILLION
¥161.7 BILLION
-7.2% vs. 2021
MAIN BRANDS: Pola (skincare, makeup), Orbis (skincare, makeup), Jurlique, Three, Decencia, Amplitude, Itrim, Fiveism x Three, Fujimi.
KEY FINANCIALS:
Total net sales: ¥166.31 billion, -6.9%
Beauty Care operating income: ¥13.79 billion, -19.2%
32. GALDERMA
ZUG, SWITZERLAND
2022 BEAUTY SALES:
$1.14 BILLION (EST.)
+33% vs. 2021 (EST.)
MAIN BRANDS: Cetaphil, Alastin (skincare).
KEY FINANCIALS: N/A
33. INTER PARFUMS, INC.
NEW YORK
2022 BEAUTY SALES:
$1.09 BILLION
+24% vs. 2021
MAIN BRANDS: Abercrombie & Fitch, Anna Sui, Bebe, Boucheron, Coach, Donna Karan, DKNY, Dunhill, Ferragamo, Graff, Guess, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, MCM, Moncler, Montblanc, Oscar de la Renta, Rochas, S.T. Dupont, Ungaro, Van Cleef & Arpels.
KEY FINANCIALS (EST.):
Montblanc: $195.7 million, +16.3% VS. 2021
Jimmy Choo: $195.7 million, +26.3%
Coach: $163.05 million, +19.2%
Guess: $130.44 million, +28%
Sales by key region:
North America: $431.9 million, +22% VS. 2021
Western Europe: $259.2 million, +28.3%
Asia: $152.7 million, +19.3%
34. SISLEY
PARIS
2022 BEAUTY SALES:
$1.01 BILLION
€957 MILLION
+8% vs. 2021
MAIN BRANDS: Sisley (fragrance, skincare, makeup). Hair Rituel by Sisley (hair care).
KEY FINANCIALS: N/A
35. BELCORP
LIMA, PERU
2022 BEAUTY SALES:
$1 BILLION (EST.)
FLAT vs. 2021 (EST.)
MAIN BRANDS: L’Bel, Ésika, Cyzone (fragrance, makeup, skin, body and hair care).
KEY FINANCIALS:
Predominant markets: Peru, Colombia and Mexico: 53% of sales
Breakdown by brand:
Ésika: 45%
Cyzone: 31%
L´Bel: 24%.
35. LUSH
POOLE, U.K.
2022 BEAUTY SALES:
$1 BILLION (EST.)
£810.1 MILLION (EST.)
+1.6 % vs. 2021 (EST.)
MAIN BRANDS: Lush Fresh Handmade Cosmetics (bath, body, hair and skincare, makeup, fragrance).
KEY FINANCIALS: N/A
37. GODREJ CONSUMER PRODUCTS LTD.
MUMBAI, INDIA
2022 BEAUTY SALES:
$996.7 MILLION (EST.)
78.25 BILLION RUPEES (EST.)
+21.6% vs. 2021 (EST.)
MAIN BRANDS: Godrej Expert, Godrej Nupur, NYU, Godrej Skilled, Motions, Profectiv Mega Growth, African Pride, Only for Me, TCB, Darling, Valon, Ilicit, Issue, 919, Renew, Inecto, Roby (hair care), Millefiori, Cinthol, Godrej No.1, Villeneuve, Tura (skincare), Pamela Grant (makeup).
KEY FINANCIALS
Biggest markets:
India: 57%
Africa and the U.S.: Approx. 26%
Indonesia: 13%
38. JOHN PAUL MITCHELL SYSTEMS
LOS ANGELES
2022 BEAUTY SALES:
$975 MILLION (EST.)
+5.4% vs. 2022 (EST.)
MAIN BRANDS: Paul Mitchell, Paul Mitchell Skilled Hair Color, Paul Mitchell Clean Beauty, Awapuhi Wild Ginger, Neuro, Tea Tree (hair and body care), MITCH (men’s grooming), MVRCK (men’s grooming).
KEY FINANCIALS: N/A
39. MARICO LTD.
MUMBAI, INDIA
2022 BEAUTY SALES:
$902.2 MILLION (EST.)
70.83 BILLION (EST.)
+11.3% vs. 2021 (EST.)
MAIN BRANDS: Parachute, Livon, Nihar Naturals, Hair & Care, Caivil, Black Chic, True Roots (hair care and color). Parachute Advansed (hair and body care). Set Wet (deodorants and hair styling). Fiancée, Hair Code, IsoPlus (hair care and styling). Code 10, X-Men (men’s grooming). Kamillen, Jamilla (hairstyling), Karazel, Rivage, Grace, Pure Sense, Just Herbs, Kaya Youth O2 (skincare), Beardo (men’s grooming), Purité de Prôvence and Ôliv (hair and skincare).
KEY FINANCIALS:
Total company consolidated sales (Nine months to December 2022): Rs 71.89 billion, -2.2%
International sales: Approx. 23% of revenues.
40. PROYA COSMETICS CO. LTD.
HANGZHOU, CHINA
2022 BEAUTY SALES:
878.1 MILLION (EST.)
CNY 5.9 BILLION (EST.)
+ vs. 2021 (EST.)
MAIN BRANDS: Proya, Uzero, Anya, Yoya, Cats &Roses, Timage, Ins Baha, Off&Calm down.
KEY FINANCIALS:
(Nine months ended Sept. 30, 2022)
Operating revenue: CNY 3.96 billion, +31.5% year-on-year
Operating profit: CNY 621 million, +31.5%
41. RITUALS COSMETICS ENTERPRISE B.V.
AMSTERDAM
2022 BEAUTY SALES:
$877.5 MILLION (EST.)
€832.9 MILLION (EST.)
+25% vs. 2021 (EST.)
MAIN BRANDS: Rituals (fragrance, home fragrance, skin, body and hair care, makeup).
KEY FINANCIALS:
Total company sales: €1.4 billion, +25% vs. 2021 (EST.)
42. NEORA
FARMERS BRANCH, TEXAS
2022 BEAUTY SALES:
$870 MILLION (EST.)
+6.1% vs. 2021
MAIN BRANDS: ProLuxe Hair Care System and NeoraFit Set, Age IQ Night & Day Cream, Double Cleansing Botanical Face Wash, Age-Defying Eye Serum, Illumaboost Brightening & Shield, Complexion Clearing Pimples Treatment (skin and body care).
KEY FINANCIALS:
Largest markets: U.S., Canada, Mexico
43. WALGREENS BOOTS ALLIANCE
DEERFIELD, ILLINOIS
2022 BEAUTY SALES:
$862.5 MILLION (EST.)
+15% vs. 2021 (EST.)
MAIN BRANDS: No7, Botanics, Soap & Glory, Liz Earle, Sleek MakeUP, YourGoodSkin, 17.
KEY FINANCIALS: N/A
44. NU SKIN ENTERPRISES
PROVO, UTAH
2022 BEAUTY SALES:
$849.7 MILLION (EST.)
-23.7% vs. 2021 (EST.)
MAIN BRANDS: Nu Skin, AgeLOC, Nutricentials, Epoch, Tru Face.
KEY FINANCIALS:
Beauty Sales, including devices: $1.07 billion, -25.8% vs. 2021
Top Three Regions in Total Revenue:
Mainland China: $360.4 million, -36.6%
Americas: $508.5 million, -7.2%
Southeast Asia/Pacific: $344.4 million, +2.3%
45. DABUR INDIA LTD.
GHAZIABAD, INDIA
2022 BEAUTY SALES:
$783.7 MILLION (EST.)
61.53 BILLION RUPEES (EST.)
+4.3% vs. 2021 (EST.)
MAIN BRANDS: Dabur Amla, Dabur Almond, Vatika, ORS, Long & Lasting (hair care). Fem,
Gulabari, OxyLife, Latest Era, DermoViva, Vatika (skincare). Hobby (skin, hair and bath care; shave preparations). Dabur Anmol (Hair Oil). Dabur Baby (Baby Care). Jaquline (beauty care).
KEY FINANCIALS:
(Nine months to December 2022)
Consolidated net profit: 14.063 billion rupees
Consolidated revenue: 88.521 billion rupees
46. EDGEWELL PERSONAL CARE
SHELTON, CONNECTICUT
2022 BEAUTY SALES:
$778 MILLION (EST.)
+8.7% vs. 2021 (EST.)
MAIN BRANDS: Banana Boat, Hawaiian Tropic (sun and skincare), Jack Black, Bulldog, Cremo, Fieldtrip (grooming), Skintimate, Edge, Schick, Billie (shave preparations).
KEY FINANCIALS:
(FY ended Sept. 30, 2022)
Company sales: $2.17 billion, +4% vs. 2021
Sun Care: $401.8 million, +20.4%
Skin Care: $236.7 million, -6.0%
Shaving Gels and Creams: $131.6 million, +0.2%
47. BLOOMAGE BIOTECHNOLOGY CORPORATION LTD.
SHANGHAI
2022 BEAUTY SALES:
$756.1 MILLION (EST.)
CNY 5.08 BILLION (EST.)
+52% vs. 2021 (EST.)
MAIN BRANDS: Biohyalux, Quadhai, Medrepair, Biomeds, Plumoon, Laboratoire Revitacare, Bloomcare, BioBurgeon, HA Paws, Tianduo, Green, DMKO.
KEY FINANCIALS:
(Nine months ended September 2022)
Total company revenue: CNY 4.32 billion, +43% year-on-year
Net income attributable to shareholders: CNY 677 million, +22%
47. SHANGHAI JAHWA UNITED CO. LTD.
SHANGHAI
2022 BEAUTY SALES:
$756.1 MILLION (EST.)
CNY 5.08 BILLION (EST.)
-7% vs. 2021 (EST.)
MAIN BRANDS: Shanghai Vive (skincare, fragrance), Maxam (skin, body and hair care), Liushen (skin, body and hair care, fragrance), GF (men’s skin and hair care, fragrance), Herborist (skincare, makeup, men’s skincare), Dr. Yu (skincare), Herborist Derma (skincare, makeup), Giving (baby care).
KEY FINANCIALS:
Total revenue: CNY 7.1 billion, -7.1%
Net profit: CNY 472 million, -27.3%
49. S’YOUNG GROUP
CHANGSHA, CHINA
2022 BEAUTY SALES:
$741.2 MILLION (EST.)
CNY 4.98 BILLION (EST.)
+6% vs. 2021 (EST.)
MAIN BRANDS: Unifon, Bigdrop, Mihoo, Huayaohua, Yu Men, HPH, VAA, Evidens de Beauté (skincare.)
KEY FINANCIALS:
Estimated net profit: CNY 120 million to 150 million in 2022, down 37 to 49% vs. 2021.
50. ORIFLAME HOLDING AG
SCHAFFHAUSEN, SWITZERLAND
2022 BEAUTY SALES:
$741 MILLION (EST.)
€703.3 MILLION (EST.)
-11.6% vs. 2021 (EST.)
MAIN BRANDS: Oriflame (makeup, skin, body, hair and private care, fragrance).
KEY FINANCIALS:
Total company sales (including wellness and accessories): €925.4 million, -9% vs. 2021
Constant-currency sales: -15%
Sales by region:
Latin America: -8% (-17% in local currency)
Europe and CIS: -5% (-12%)
Turkey and Africa: -6% (+1% adjusted for hyperinflation in Turkey);
Asia: -22% (-26%)
Adjusted EBITDA: €106.5 million, -44%
51. FINETODAY CO. LTD.
TOKYO
2022 BEAUTY SALES:
$735.4 MILLION (EST.)
¥96.03 BILLION (EST.)
N/A vs. 2021 (EST.)
MAIN BRANDS: Tsubaki, Senka, Uno, Sea Breeze, Super Mild, Ag Deo 24, Fino, Hadasui.
KEY FINANCIALS:
Like-for-like sales growth: +5.2% (if sales under Shiseido had been included for the entire of FY 2021)
International sales: 50% of business
52. EUROITALIA
CAVENAGO DI BRIANZA, ITALY
2022 BEAUTY SALES:
$727 MILLION (EST.)
€690 MILLION (EST.)
+28% vs. 2021 (EST.)
MAIN BRANDS: Versace, Moschino, Michael Kors, Missoni, Dsquared2, Reporter, Atkinsons 1799 (fragrance). Naj Oleari Beauty (makeup), I Coloniali (body and skincare).
KEY FINANCIALS:
Exports: 95% of sales
53. KIKO SPA
BERGAMO, ITALY
2022 BEAUTY SALES:
$707 MILLION (EST.)
€671 MILLION (EST.)
+41.6% vs. 2021 (EST.)
MAIN BRANDS: Kiko Milano (makeup).
KEY FINANCIALS:
Americas: +55% VS. 2021
Asia: +21%
Europe: +46%
54. OLAPLEX
NEW YORK
2022 BEAUTY SALES:
$704.3 MILLION (EST.)
+17.7% vs. 2021 (EST.)
MAIN BRANDS: Olaplex (hair care).
KEY FINANCIALS:
U.S.: 56% of sales
International: 44% of sales
55. NAOS
AIX-EN-PROVENCE, FRANCE
2022 BEAUTY SALES:
$703.8 MILLION (EST.)
€668 MILLION (EST.)
+5.2% vs. 2021 (EST.)
Predominant Brands: Laboratoire Bioderma: ABC Derm, Atoderm, Cicabio, Crealine/Sensibio, Hydrabio, Matricium, Sebium, Secure, Pigmentbio (skincare), Node (hair care), Photoderm (sun care). Institut Esthederm: Age Prevention, Age Correction, Body Care, Cabine Exclusive, Cellular Water Range, Cleansing Osmoclean, Intensive Molecular Care, Sun Care, White (skincare). Etat Pur: Actifs Pur, Soins Purs, Nettoyants Purs, Protecteurs Purs (skin, sun and body care).
Key Financials:
Laboratoire Bioderma: €609 million, +5% vs. 2021
Institut Esthederm: €54.7 million, +7%
Etat Pur: €4 million, +155%
International Markets: 77% of sales
Key markets: France, China and Turkey accounted for an estimated 34.6% of world sales.
56. YUNNAN BOTANEE BIO-TECHNOLOGY GROUP CO. LTD.
YUNNAN
2022 BEAUTY SALES:$684.6
MAIN BRANDS: Winona, Winona Baby, Aoxmed, Beauty Answers, Doudoukang, Zirun (skincare). Funny Elves (makeup).
KEY FINANCIALS:
(Nine months to September 2022）
Operating income: CNY 2.8 billion, +37% vs. 2021
Net profit: CNY 517 million, +45%
56. JALA GROUP CO.
SHANGHAI
2022 BEAUTY SALES:
$684.6 MILLION (EST.)
CNY 4.6 BILLION (EST.)
+2.2% vs. 2021 (EST.)
MAIN BRANDS: Chando (skincare, makeup). Maysu, Botanical Wisdom, Spring Summer, Biorrier (skincare). Como (makeup). Assassina (fragrance).
KEY FINANCIALS: N/A
58. YANBAL INTERNATIONAL
LIMA, PERU
2022 BEAUTY SALES:
$684 MILLION (EST.)
+25% vs. 2021 (EST.)
Predominant Brands: Yanbal,Unique (makeup, skin, body, sun and hair care, fragrance).
Key Financials: N/A
59. PDC WELLNESS & PERSONAL CARE
STAMFORD, CONNECTICUT
2022 BEAUTY SALES
$679 MILLION (EST.)
+1% vs. 2021 (EST.)
MAIN BRANDS: Dr. Teal’s, Bodycology (wellness), Cantu, Eyelure (personal care), Body Fantasies, BOD Man (fragrance).
KEY FINANCIALS:
Wellness: $376 million, +12%
Personal care: $223 million, -11%
Fragrance: $80 million, -10%
Largest markets: U.S., U.K., Canada
International: 23% of sales
60. COSNOVA
SULZBACH, GERMANY
2022 BEAUTY SALES:
$650.1 MILLION (EST.)
€617 MILLION (EST.)
+31% vs. 2021 (EST.)
MAIN BRANDS: Essence, Catrice (makeup).
KEY FINANCIALS:
Europe: +27%
Middle East & North Africa: +24% (at constant currency)
North America: +29% (at constant currency)
61. ORVEON
NEW YORK
2022 BEAUTY SALES:
$599 MILLION (EST.)
+4% vs. 2021 (EST.)
MAIN BRANDS: Bare Minerals, Laura Mercier, Buxom (makeup)
KEY FINANCIALS:
U.S.: 65% of world sales
62. YATSEN HOLDING LTD.
GUANGZHOU, CHINA
2022 BEAUTY SALES:
$552.2 MILLION
CNY 3.71 BILLION
-36.5% vs. 2021
MAIN BRANDS:
Perfect Diary, Little Ondine, Pink Bear (makeup). Abby’s Selection, Galénic, Eve Lom, Dr. Wu (skincare).
KEY FINANCIALS:
Operating loss: CNY 928.9 million vs. CNY 1.62 billion in 2021
Net loss: CNY 821.3 billion vs. CNY 1.55 billion
63. E.L.F. BEAUTY
OAKLAND, CALIFORNIA
2022 BEAUTY SALES:
$497 MILLION (EST.)
+31% vs. 2021 (EST.)
MAIN BRANDS: E.l.f. Cosmetics (makeup), e.l.f.SKIN (skincare), Well People (makeup, skincare), Keys Soulcare (skincare, home fragrance).
KEY FINANCIALS:
U.S.: 88% of sales, +30% vs. 2021
International: 12% of sales, +38%
64. MANDOM CORP.
OSAKA, JAPAN
2022 BEAUTY SALES:
$489.2 MILLION (EST.)
¥63.88 BILLION (EST.)
+10.1% vs. 2021 (EST.)
MAIN BRANDS: MEN’S GROOMING: Gatsby (skin, body and hair care; hair color, fragrance, deodorant), Lúcido (skin, body, hair and scalp care; deodorant), Mandom (skin, body and hair care; fragrance), Tancho (hair care and color), Spalding (deodorant, fragrance, body care). WOMEN’S COSMETICS: Pixy (skincare, makeup), Bifesta, Barrier Repair (skincare). Lúcido‐L (hair care and color), Baby Veil (hair care), Lovillea (fragrance), Miratone (hair color), Mandom (hair and skincare), Johnny Andrean, Style Up (hair care), Simplity (deodorant), Pucelle (fragrance, body care).
KEY FINANCIALS (Nine months to Dec. 22 for domestic operations; nine months to Sept. 22 for international operations):
Sales in Japan: ¥26.84 billion, +6.8%
Sales in Indonesia: ¥10.56 billion, +30.7%
Sales in other markets: ¥12.37 billion, +31.7%
65. HERMÈS INTERNATIONAL
PARIS
2022 BEAUTY SALES:
$472.3 MILLION
€448.3 MILLION
+16.4% vs. 2021
MAIN BRANDS: HERMÈS PARFUMS: Terre d’Hermès, Eau des Merveilles, Twilly d’Hermès, Les Parfums Jardins, Les Colognes, Collection Hermessence, Voyage d’Hermès, 24 Faubourg, Galop d’Hermès, Calèche (fragrance). Le Bain (toiletries). Rouge Hermès, Rose Hermès, Plein Air (makeup). Les Mains d’Hermès (nail polish and hand care).
KEY FINANCIALS:
Constant-currency sales growth for beauty and fragrance: +15% vs. 2021
Total company sales: €11.6 billion, +29.2% (+23% at constant currency)
Total company operating income: €4.7 billion, +33%
66. THE CARLYLE GROUP
WASHINGTON, D.C.
2022 BEAUTY SALES:
$465 MILLION (EST.)
-32% vs. 2021 (EST.)
MAIN BRANDS: Beautycounter, Every Man Jack.
KEY FINANCIALS: N/A
67. Markwins Beauty Brands
City of Industry, California
2022 BEAUTY SALES:
$453.6 MILLION (EST.)
+8% vs. 2021
MAIN BRANDS: Wet ‘n’ Wild, Lip Smacker, Physicians Formula, Lorac, Black Radiance, The Color Workshop, Bonne Bell.
KEY FINANCIALS:
U.S & Canada: 80% of sales
International: 20%
68. FANCL CORP.
YOKOHAMA, JAPAN
2022 BEAUTY SALES:
$447 MILLION (EST.)
¥58.37 BILLION (EST.)
-2.5% vs. 2021 (EST.)
MAIN BRANDS: Fancl Cosmetics, Attenir Cosmetics (skincare, makeup), Boscia (skincare).
KEY FINANCIALS:
(Nine months to Dec. 31)
Cosmetics sales: ¥44.18 billion, -1% vs. 2021
Fancl Cosmetics: ¥32.23 billion, -0.6%
Attenir Cosmetics: ¥10.43 billion, -1.5%
Boscia: ¥594 million, -25.2%
Domestic online and catalog sales: ¥24.07 billion, +4.4%
Domestic retail store sales: ¥8.85 billion, -12.6%
Domestic wholesale and others: ¥7.31 billion, +14.4%
Overseas sales: ¥3.95 billion, -21.8%
Cosmetics division operating profit: ¥4.89 billion, -19.4%
69. EMBELLEZE GROUP
RIO DE JANEIRO, BRAZIL
2022 BEAUTY SALES:
$430.6 MILLION (EST.)
R$2.22 BILLION (EST.)
+6.2% vs. 2021 (EST.)
MAIN BRANDS: Novex, Amacihair, Afrohair, Hairlife, Lisahair, Vitay (hair care and treatment). Natucor, Maxton (hair color), Nutrisalon (skilled hair care). BioSalut (personal care).
Key Financials:
International sales: 11% of revenues
Domestic sales: +17%
70. Combe Inc.
White Plains, NEW YORK
2022 Beauty Sales:
$425 million (EST.)
+4.9% vs. 2021 (EST.)
Predominant Brands: Only for Men, Control GX, Virtue Labs (hair care and color), Aqua Velva, Williams Lectric Shave, Brylcreem (men’s grooming, in North America), Vagisil (intimate skincare).
KEY FINANCIALS: N/A
71. SHANGHAI CHICMAX COSMETIC CO., LTD
SHANGHAI
2022 BEAUTY SALES:
$398.9 MILLION (EST.)
CNY 2.68 BILLION (EST.)
-25.9% vs. 2021 (EST.)
MAIN BRANDS: Kans, One Leaf, Bio-G, Latest Page, Armiyo (skincare). Baby Elephant (infant care). Hanamino (makeup).
KEY FINANCIALS:
(10 months to October 2022)
Total revenues: CNY 2.08 billion, -28.8%
Gross profit: CNY 1.36 billion, -29.1%
72. MANZANITA CAPITAL
LONDON
2022 BEAUTY SALES:
$397 MILLION (EST.)
-11.4% vs. 2021 (EST.)
MAIN BRANDS: Diptyque (fragrance), Malin + Goetz (skin, body and hair care, fragrance), Susanne Kaufmann (skin, body and hair care).
KEY FINANCIALS :
Like-for-like sales growth:+27% vs. 2021 (EST.)
73. GUTHY-RENKER
EL SEGUNDO, CALIFORNIA.
2022 BEAUTY SALES:
$395 MILLION (EST.)
+7% vs. 2021 (EST.)
MAIN BRANDS: Crépe Erase, Meaningful Beauty, Westmore, Specific Beauty, Dermaflash, IT Cosmetics (repeat sales to existing customers), Sea Calm Skin, JLo Beauty, Principal Secret.
KEY FINANCIALS: N/A
74. HOYU CO. LTD
NAGOYA, JAPAN
2022 BEAUTY SALES:
$390.6 MILLION (EST.)
¥51 BILLION (EST.)
-2.9% vs. 2021 (EST.)
MAIN BRANDS: Bigen, Cielo, Beautylabo, Beauteen, Naturain, Promaster, Men’s Bigen (hair color and care).
KEY FINANCIALS (FY ended Oct. 31, 2022):
Consolidated net sales: ¥51 billion, -2.9%
Consolidated operating income: ¥2.2 billion, -35.3%
75. BURT’S BEES
DURHAM, NORTH CAROLINA
2022 BEAUTY SALES:
$385 MILLION (EST.)
+1.3% vs. 2021 (EST.)
MAIN BRANDS: Burt’s Bees (beauty, skin, lip, hair, men’s and baby care)
KEY FINANCIALS:
Domestic retail sales: $397 million (based on IRI POS data)
Biggest markets: U.S., Canada, U.K.
76. ODDITY
NEW YORK
2022 BEAUTY SALES:
$325 MILLION (EST.)
+45% vs. 2021 (EST.)
MAIN BRANDS: Il Makiage, SpoiledChild
KEY FINANCIALS:
Company gross sales: $380 million
77. ALCORA CORP.
MIAMI
2022 BEAUTY SALES:
$376 MILLION (EST.)
-41% vs. 2021 (EST.)
MAIN BRANDS: Monat (hair care, skincare). Hairgurt (hair care). L’Eudine (hair and body care, fragrance), Pardon My Pretty (body care).
KEY FINANCIALS:
Top Markets:
U.S.: 84%
Canada: 10%
Europe, including U.K.: 4%
Top Product Categories:
Hair Care: 65%
Skin Care: 30%
Wellness: 5%
78. NOEVIR HOLDINGS
KOBE / TOKYO
2022 BEAUTY SALES:
$361.5 MILLION (EST.)
¥47.2 BILLION (EST.)
+23% vs. 2021 (EST.)
MAIN BRANDS: NOEVIR CO.: Speciale, 505, 99Plus (skincare, makeup). TOKIWA PHARMACEUTICAL CO.: Nameraka Honpo (skincare), Excel (makeup), NOV (skincare, makeup).
KEY FINANCIALS (FY ended Sept. 30, 2022):
Cosmetics sales: ¥47.03 billion, +22.7% vs. 2021
Cosmetics operating income: ¥10.81 billion, +12.7%
79. MILBON CO. LTD.
TOKYO
2022 BEAUTY SALES:
$346.5 MILLION
¥45.24 BILLION
+10.7% vs. 2021
MAIN BRANDS: Milbon,Aujua, Villa Lodola, Ordeve, Sophistone, NeoLiscio (hair care, color, styling and perming), Imprea (skincare, makeup).
KEY FINANCIALS:
Domestic sales: ¥35.33 billion, +7.3% vs. 2021
International sales: ¥9.9 billion, +25.2%
Top international markets:
South Korea: ¥4.16 billion, +23.5%, or +16.6% in local currency
China: ¥2.11 billion, -1.6%, or -13.6% in local currency
U.S.: ¥1.33 billion, +46.7% or +22.6% in local currency
80. WELEDA
ARLESHEIM, SWITZERLAND
2022 BEAUTY SALES:
$344.5 MILLION (EST.)
€327 MILLION (EST.)
-4.6% vs. 2021 (EST.)
MAIN BRANDS: Weleda(natural and organic skin and body care, men’s care, hair care, mother and baby care, lip balms, personal care).
KEY FINANCIALS:
Biggest markets: Germany, France and Switzerland
81. CAUDALIE
PARIS
2022 BEAUTY SALES:
$341.4 MILLION (EST.)
€324 MILLION (EST.)
+13.7% vs. 2021 (EST.)
MAIN BRANDS: Vinoperfect, Resveratrol-Lift, Premier Cru, Vinosource, Beauty Elixir, Vinergetic, Vinothérapist, Vinosculpt, Vincoclean (skincare). Eaux Fraîches (fragrance).
KEY FINANCIALS:
Biggest markets: France, the U.S., Italy, Spain, Germany, China
82. PZ CUSSONS
MANCHESTER, ENGLAND
2022 BEAUTY SALES:
$330.7 MILLION (EST.)
£267.4 MILLION (EST.)
-1.7% vs. 2021 (EST.)
MAIN BRANDS: St. Tropez (skin and body care), The Sanctuary Spa, Imperial Leather (bath, body and skincare), Carex (hygiene, hand care).
KEY FINANCIALS:
(Six months to Dec. 3, 2022)
Total company sales from continuing operations: £336.9 million, +18.8% year-on-year.
Hygiene division sales: £174 million, +18%
Beauty division sales: £49.2 million, +4.1%
83. NUXE GROUPE
BOULOGNE-BILLANCOURT, FRANCE
2022 BEAUTY SALES:
$329.8 MILLION (EST.)
€313 MILLION (EST.)
+7.9% vs. 2021 (EST.)
MAIN BRANDS: Nuxe, Resultime (skin and body care, fragrance).
KEY FINANCIALS:
France: Approx. 43% of sales (EST.)
Biggest international markets: Italy, Spain and Belgium
84. SODALIS GROUP
LODI VECCHIO, ITALY
2022 BEAUTY SALES:
$328.3 MILLION (EST.)
€311.6 MILLION (EST.)
+17% vs. 2021 (EST.)
MAIN BRANDS: BioNike (skincare, body care, makeup). Bioetyc, Lypsyl (skincare). Lycia, CD, Triple Dry (skincare, deodorants). Arbre Vert (skincare, hair care, deodorants). Leocrema, Dermolab (skincare, sun care). Vitesse (face care). Tesori D’Oriente, Denim (body care, fragrances). Natural Honey (body wash and lotion). Noxzema, Depilzero, Strep (shaving/depilation). Biopoint (hair care, skincare and sun care). Brelil, Wash&Go (hair care). Deborah (makeup).
KEY FINANCIALS:
Sales in Italy: €215.4 million, +8.4% vs. 2021
International sales: €96.14 million, +42%
85. MAESA
NEW YORK
2022 BEAUTY SALES:
$328.1 MILLION (EST.)
+28% vs. 2021 (EST.)
MAIN BRANDS:
Kristin Ess, Hairitage, Flower Beauty, TPH by Taraji, Being Frenshe, Anomaly, Hey Humans, P2, ITK, Mix:Bar, High quality’ry, Andrew Fitzsimons, Imagine Beauty, Root to End.
KEY FINANCIALS:
Total Maesa Sales (w/ private label brands): $410.2 million (EST.), +21% (EST.) vs. 2021
Hair care sales: $211.7 million, +26% (EST.)
Color Cosmetics: $45.1 million, -9% (EST.)
Bath & Body: $14.9 million, +48% (EST.)
Fragrance: $38.9 million, +65% (EST.)
Skin Care: $7.9 million, +111% (EST.) vs. 2021
Wellness: $9.6 million (EST.)
86. JOY GROUP
SHANGHAI
2022 BEAUTY SALES：
$327.4 MILLION (EST.)
CNY 2.2 BILLION (EST.)
+30% vs. 2021 (EST.)
MAIN BRANDS: Judydoll, Joocyee (makeup)
KEY FINANCIALS:
JudydollL CNY 1.05 billion, +20% vs. 2021
Joocyee: CNY 760 million, +45%
87. NIPPON MENARD COSMETIC CO.
NAGOYA, JAPAN
2022 BEAUTY SALES:
$327 MILLION (EST.)
¥42.7 BILLION (EST.)
-3.2% vs. 2021 (EST.)
MAIN BRANDS: Authent (skincare, fragrance, body care), Embellir, Fairlucent (skincare, makeup), Illuneige, Lisciare, Colax, Herb Mask (skincare), Beauness (skin and body care), Jupier, TK (makeup, skincare), Crowa (hair care), Divum (skincare, makeup, in China), Reliever (skincare, in China).
KEY FINANCIALS:
Biggest markets: Japan, China, Vietnam
88. EMAMI LTD.
KOLKATA, INDIA
2022 BEAUTY SALES:
$306.1 MILLION (EST.)
24.03 BILLION RUPEES (EST.)
+14% VS. 2021 (EST.)
MAIN BRANDS: Boroplus, Navratna, Vasocare, Emami Golden Beauty Talc, Dermicool (talc), Malai Kesar Cold Cream, Creme 21 (skincare), Fair & Handsome (men’s skincare), Kesh King, Emami 7 Oils in One (hair care), HE (deodorant).
KEY FINANCIALS:
Domestic sales: 85% (EST.)
International sales:
South Asian Association for Regional Cooperation: 44%
Middle East, North Africa: 34%
Commonwealth of Independent States: 10%
Africa and others: 12%
89. LION CORP.
TOKYO
2022 BEAUTY SALES:
$301.2 MILLION (EST.)
¥39.33 BILLION (EST.)
+7.1% vs. 2021 (EST.)
MAIN BRANDS: Kirei Kirei (hand soap), Ban (deodorant), Pro Tec (men’s hair and body care), Hadakara, Shokubutsu-Monogatari (body care), Soft in 1 (hair care).
KEY FINANCIALS:
Total company net sales: ¥389.87 billion, +6.5% vs. 2021
Total operating profit: ¥28.84 billion, -7.5%
Beauty Care sales in Japan: ¥26.48 billion, +7.1%
90
FORMA BRANDS
SAN FRANCISCO
2022 BEAUTY SALES:
$285 MILLION (EST.)
-12% vs. 2021 (EST.)
Predominant Brands: Bad Habit (skincare), Lipstick Queen, Morphe, Morphe 2, R.E.M. Beauty, Jaclyn Hill Cosmetics (makeup). Playa (hair care).
KEY FINANCIALS:
N/A
91. CARTIER
PARIS
2022 BEAUTY SALES:
$279.4 MILLION (EST.)
€265.2 MILLION (EST.)
+20% vs. 2021 (EST.)
MAIN BRANDS: Cartier Carat, L’Envol de Cartier, La Panthère de Cartier, Pasha de Cartier, Baiser Volé, Déclaration, Eau de Cartier, Must de Cartier, Santos de Cartier, Les Heures de Parfum, Les Heures Voyageuses, Les Epures de Parfum, Rivières de Cartier (fragrance).
KEY FINANCIALS:
N/A
92. LUXURY BRAND PARTNERS
MIAMI
2022 BEAUTY SALES:
$276 MILLION (EST.)
+10.4% vs. 2021 (EST.)
Predominant Brands:
R+Co, R+Co Bleu, IGK, IGK Color, V76 by Vaughn, In Common (hair care and color). Smith & Cult (makeup, nails). One/Size (makeup), Elaluz (makeup, skincare).
KEY FINANCIALS:
U.S.: 85% of sales
International: 15%, led by Australia, Canada and the U.K.
93. ALFAPARF MILANO
OSIO SOTTO (BERGAMO), ITALY
2022 BEAUTY SALES:
$273.9 MILLION
€260 MILLION
+24.2% vs. 2021
MAIN BRANDS: Alfaparf Milano, Yellow, Alta Moda é…, Il Salone Milano, Selective, L’Anza, Ten Science, Dibi Milano, Becos, Olos (skin and body care). Solarium (sun care). Decoderm (skincare/makeup).
KEY FINANCIALS:
Predominant markets:
Italy: €97 million (+27% vs. 2021)
Brazil: €33.9 million (+15% vs. 2021)
Mexico: €26.1 million (+33% vs. 2021)
94. DR. WOLFF GROUP
BIELEFELD, GERMANY
2022 BEAUTY SALES:
$266.2 MILLION (EST.)
€252.7 MILLION (EST.)
+1.7% vs. 2021 (EST.)
MAIN BRANDS: DR. KURT WOLFF: Alpecin, Plantur 39, Plantur 21 (hair care). Alcina (hair and skincare; makeup), Plantur 49 (skincare). DR. AUGUST WOLFF: Linola (skincare).
Key Financials:
Preliminary group sales: €363.2 million, +1.7%
95. REVOLUTION BEAUTY GROUP
LONDON
2022 BEAUTY SALES:
$265.9 MILLION (EST.)
£215 MILLION (EST.)
+17% vs. 2021 (EST.)
MAIN BRANDS: Makeup Revolution, I Heart Revolution (makeup). Revolution Skincare, Revolution Haircare.
KEY FINANCIALS: N/A
96. ANASTASIA BEVERLY HILLS
LOS ANGELES
2022 BEAUTY SALES:
$260 MILLION (EST.)
+4% vs. 2021 (EST.)
MAIN BRANDS: Anastasia Beverly Hills (makeup).
KEY FINANCIALS: N/A
97. GUANGDONG MARUBI BIOTECHNOLOGY CO.
GUANGDONG, CHINA
2022 BEAUTY SALES:
$259 MILLION (EST.)
CNY 1.74 BILLION (EST.)
-2.6% vs. 2021 (EST.)
MAIN BRANDS: Marubi, Haruki (skincare). Passional Lover (makeup).
KEY FINANCIALS: N/A
98. BETTERWARE DE MEXICO
GUADALAJARA, MEXICO
2022 BEAUTY SALES:
$256.6 MILLION (EST.)
5.16 BILLION PESOS (EST.)
N/A vs. 2021 (EST.)
MAIN BRANDS: Jafra (fragrance, skincare, color cosmetics, toiletries).
KEY FINANCIALS: N/A
99. PARLUX HOLDINGS
NEW YORK
2022 BEAUTY SALES:
$255 MILLION (EST.)
+8.5% vs. 2021 (EST.)
MAIN BRANDS: Billie Eilish, Paris Hilton, Tommy Bahama, Vince Camuto, Kenneth Cole (fragrance).
KEY FINANCIALS: N/A
100. DHC CORPORATION
TOKYO
2022 BEAUTY SALES:
$252.9 MILLION (EST.)
¥33.03 BILLION (EST.)
FLAT vs. 2021 (EST.)
MAIN BRANDS: DHC (skincare, makeup, hair care, men’s, body and baby care, fragrance). Olive Sube Sube, Medicated Q, Super Collagen.
KEY FINANCIALS:
(FY ended July 2022)
Total net sales: ¥90.53 billion, +0.5%
Operating profit: ¥16.7 billion, +52.5%
Net income: ¥9.62 billion, +76.8%
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