L'Oréal remains the world’s most valuable cosmetics brand, with its brand value improving 11% to reach a staggering USD13.4 billion. The iconic French brand continues to outshine its competitors, boasting a brand value approximately 80% higher than its closest rival.
L'Oréal's brand value is intricately tied to its strategic focus on premiumisation and innovation within the beauty industry. The brand's approach to making high-end products more accessible in a market driven by supply has driven strong sales growth, indicating L'Oréal's ability to align product offerings with consumer demand for luxury at an attainable price point.
L'Oréal also earns the highest Sustainability Perceptions Value (SPV) in the cosmetics ranking, at USD1 billion. The brand’s ongoing commitment to sustainability is anchored in its 'L'Oréal for the Future' campaign, launched in 2020, dedicated to tackling social and environmental challenges around the world. Notably, in 2023, the brand introduced a new EUR15 million Climate Emergency Fund, aimed at helping vulnerable communities build resilience against climate change-driven disasters. L'Oréal also advanced its Inclusive Sourcing programme to help vulnerable people find employment, benefiting more than 93,000 individuals by the end of 2023. Additionally, the brand expanded its environmental efforts by backing three pioneering projects through its Fund for Nature Regeneration, focused on innovative solutions for carbon capture, reforestation, and ecosystem restoration.
In a testament to its enduring appeal and innovative strategy, Gillette trails as the second most valuable cosmetics brand, witnessing a brand value increase of 13% to USD7.4 billion. Despite lower consumer demand, the brand’s strategic pricing adjustments have driven growth in sales revenue– showing that a strong brand can return significant value through higher prices and according to Brand Finance data, earn improved scores for perceived price premium at the same time. Further, Gillette entered a long-term partnership with the New York Yankees, which is likely to further improve to its familiarity amongst potential customers.
Natura secures its place as the world's strongest cosmetics brand, despite a slight 2% dip in brand value to USD2 billion. This minor decrease is overshadowed by Natura's unparalleled customer loyalty and its high scores in familiarity, recommendation, and consideration. The brand’s reputation remains exceptionally strong, testament to its dedicated customer base.
Part of the L'Oréal family, Garnier emerges as the world’s fastest-growing cosmetics brand, with its brand value up 15% to USD4.7 billion. As such, it narrowly edges out Axe/Lynx/Ego, which also enjoyed a 14% boost to USD1.9 billion. Garnier's success is a highlight within L'Oréal's Consumer Products Division, which celebrated strong growth, Garnier's Vitamin C Brightening Serum has become a beacon of success in skincare, contributing to the division's stellar performance.
Axe/Lynx/Ego's brand value increase is propelled by significant sales increases while operating under different names in different jurisdictions while also maintaining high scores in familiarity globally. The brand's double-digit growth, fuelled by the rollout of its Fine Fragrance range, underscores the effectiveness of Unilever's increased investment in digital marketing, media, and eCommerce, coupled with a strategic price hike.
Annie Brown, General Manager at Brand Finance, said:
“As the cosmetics industry evolves, these brands exemplify the dynamic shifts and strategic innovations driving growth and consumer engagement in the sector. The relentless pursuit of excellence by these leaders not only shapes the contours of the global beauty landscape but also sets new benchmarks for success and sustainability in the industry.”