The use of weight loss drugs, known as GLP-1s, has surged in popularity in recent years. Beauty giant L'Oreal has stated that the rise of these drugs is affecting beauty and skin care sales, as the company designs products specifically to target some side effects of rapid weight loss.
Market Resilience Amid Challenges
Nicolas Hieronimus, the head of L'Oreal, noted during an investor call that the beauty market is proving resilient in a challenging global context. He emphasized that the use of GLP-1s is "a very important phenomenon for us," adding that their rise is "having an impact on beauty consumption and skin care consumption in particular."
Sales Growth
On Thursday, L'Oreal announced that sales in the three months leading up to September rose by 7.7%, surpassing analyst expectations. The popularity of GLP-1s has increased significantly, particularly after drugs developed to treat diabetes, such as Ozempic, Wegovy, and Mounjaro, were found to also lead to substantial weight loss by suppressing appetite.
