Consultancy agency Brand Finance has once again proclaimed L'Oréal the most valuable cosmetics brand. The 2024 annual ranking of the top 50 industry brands puts the French manufacturer at the top of the list again. According to the consultants, the Group managed to increase its value by as much as 11 per cent. With 13.4 billion US dollars, L'Oréal outperformed Gillette, which came in second, by about 80 per cent.

High Willingness to Accept Price Changes

The agency believes the French brand is able to adapt its product range to meet consumer needs. Consumers are looking for luxury items at affordable prices and it would appear that L'Oréal is successfully catering to this need. The company subsequently generated a strong increase in revenue and left its competitors standing. Nevertheless, second-placed Gillette achieved 13 per cent growth to 7.4 billion dollars despite slightly lower consumer demand. Since the growth in revenue was partly due to price increases, this clearly signals that consumers view and value Gillette's products as premium items.

Strong Customer Loyalty Compensates for Weaker Sales

Brand Finance not only revealed the highest value brand, but also the world's strongest cosmetics brand. There were no surprises here either. Once again, Natura was the top company despite a slight decrease in revenue to 2 billion US dollars. The company compensated for its lower revenue with high scores on customer loyalty, brand recognition, consumer recommendation and brand awareness, the agency reports.

Source: Brand Finance