Global consumers are spending more on higher-end products as the post-pandemic “premiumization” of the beauty category gathers momentum, L’Oréal SA’s chief executive officer told a gathering in New York.
“All around the world, people are spending more on better products,” CEO Nicolas Hieronimus told the Economic Club of New York on Wednesday. “Beauty is this category that is both a need but also an indulgence.” The average prices of L’Oréal’s products are going up, he added.
