A Who’s Who of the cosmetics industry, these companies weigh in at $176.18 billion.
Firms are listed by their parent company and ranked by beauty sales for the 2010 calendar year.
For companies whose fiscal year did not run from January 1, 2010, to December 31, 2010,
estimates were calculated. All sales figures were either obtained from the companies or
generated with the help of industry sources.
For this list, “beauty” includes fragrance, makeup, skin care, sun care, hair care, deodorant, plus
cellulite and shaving products. It does not take into account bar soaps, razors, toothpastes, foods
and diet foods, medicines, vitamins or detergents. Beauty revenues only include sales of beauty
products each firm manufactures and not business from private label lines or products it might
distribute for other firms. Year-on-year percentage changes are in real terms, not on a like-forlike basis, and non-U.S.-based companies’ sales are converted into dollars according to the
average yearly exchange rates for 2010.
The total $176.18 billion of sales generated by the top 100 companies was up 25.1% year-onyear. Nevertheless, much of the difference stems from exchange rate fluctuations, with growth
rates in local currencies generally being more modest.
The vast majority of companies—83—increased their sales, while 39 registered double-digit
growth. Of the 15 posting revenue declines, seven were from Japan, which highlights the
ongoing slump in consumer confidence there.
Reflecting the high growth levels of many companies on the list, the smallest firms were
significantly larger than those in last year’s ranking. For instance, the 100th-ranked firm
generated $122.7 million, versus $112.5 million in the 2009 edition, or a 9.2% increase.
There wasn’t much major mergers-and-acquisitions activity in 2010, although two players were
knocked off the ranking since they were bought: Bare Escentuals, which was snapped up by
Shiseido in 2010 for $1.7 billion, and Sara Lee, whose €1.28 billion takeover by Unilever was
completed last year.
Geographically speaking, some companies in emerging markets maintained a blistering growth
rate: In Brazil, Natura’s revenues rose 21.1% and Hypermarcas’ sales spiked 97.8%, for
example. Meantime, in India, Dabur India’s revenues grew 10.4%.
1. L’Oréal
Rank 1
Clichy, France
$25.89 billion
€19.5 billion
+11.6% v. '09
Subsidiaries + Main Brands in 2010: Consumer: L’Oréal Paris, Garnier, Maybelline New
York, Soft Sheen Carson, Le Club des Createurs de Beauté. Professional: L’Oréal
Professionnel, Kérastase, Kéraskin Esthetics, Redken, Matrix, Mizani, Shu Uemura Art of
Hair, PureOlogy. Luxury: Lancôme, Biotherm, Helena Rubinstein, Kiehl’s, Shu Uemura,
Giorgio Armani Parfums and Cosmetics, Parfums Cacharel, Ralph Lauren Fragrances,
Paloma Picasso, Parfums Guy Laroche, Diesel, Yue-Sai, Viktor & Rolf, Maison Martin
Margiela, Yves Saint Laurent, Stella McCartney, Ermenegildo Zegna. Active Cosmetics:
Vichy, La Roche-Posay, SkinCeuticals, Sanoflore, Roger & Gallet. The Body Shop.
Laboratoires Innéov, Galderma (50% each).
L’Oréal returned to double-digit sales growth in 2010, due to strong business in all geographic
zones, retail channels and product segments and favorable exchange rates. The company’s net
profits increased 25% to €2.24 billion. Within the Luxury Products Division, whose revenues
gained 11.5% to €4.51 billion, the Yves Saint Laurent brand posted a double-digit organic uptick
thanks to its fragrance business and the Rouge Pur Couture lipstick launch. Giorgio Armani
Parfums and Cosmetics was bolstered by the introduction of Acqua di Gioia women’s fragrance,
and Kiehl’s performed well everywhere. The Consumer Products Division’s sales rose 11.4% to
€9.53 billion, backed by its makeup category’s dynamism in all regions. At Maybelline New
York, whose organic sales grew 13.3%, gains were also spurred by global growth. With revenues
of €2.72 billion, the Professional Products Division registered a 13.8% year-on-year increase,
due partly to the addition of 35,000 doors to its salon network. Meanwhile, the Active Cosmetics
Division’s sales rose 8.9% to €1.39 billion, boosted by La Roche-Posay’s increasing market
share and its Redermic+ product. SkinCeuticals’ presence was expanded in Europe, and the
brand was launched in China, Canada and Brazil. In January 2010, Roger & Gallet was
integrated into the division, which maintained its top-ranking dermocosmetics spot. The Body
Shop continued undergoing restructuring last year and registered sales up 3.9% to €754.9
million. On a like-for-like basis, they declined 1.1%. The Body Shop improved its profitability
last year. In Western Europe, L’Oréal’s leading market, revenues gained 2.6% to €7.18 billion.
“New markets,” including the Asia-Pacific region, Eastern Europe, Latin America, Africa and
the Middle East, posted 22.4% growth to €6.67 billion and are fast catching up to Western
Europe sales-wise. China became L’Oréal’s third-largest subsidiary, with revenues increasing
17.6%—or 11.1% in local currency—to more than €1 billion. Other new markets with standout
performances included India, the Philippines, South Korea, Taiwan, Brazil and Argentina. Sales
in North America grew 12.5% to €4.29 billion, spurred in part by the successes of Maybelline
and ammonia-free hair colorant Inoa. Star brands during 2010 were L’Oréal Professionnel, with
Inoa; Maybelline, which ranks number-one in makeup in the U.S., Europe and China; Yves Saint
Laurent, which L’Oréal said is undergoing a “renaissance”; Kiehl’s, with 43% growth, and La
Roche-Posay, with continued geographic expansion. After a flurry of buys in first-half 2010,
acquisition activity slowed through year-end. In December 2010, L’Oréal announced its
purchase of Peel’s Salon Services. The Nebraska-based company distributes to hair salons in 12
Midwestern U.S. states and has annual sales of about $100 million. L’Oréal spent 3.4% of its
revenues on research and development and 30.9% on advertising and promotion in 2010.
Changes to the company’s executive committee, starting January 1, 2011, included the
appointment of Marc Menesguen as managing director of the newly created Strategic Marketing
Department, Nicolas Hieronimus as managing director of the Luxury Products Division and An
Verhulst-Santos as managing director of the Professional Products Division. Recently signed
L’Oréal spokesmodels are Benjamin Millepied for YSL, Liya Kebede for L’Oréal Paris and
Megan Fox for Giorgio Armani Cosmetics. By year-end 2010, the Bettencourt family owned
30.9% of L’Oréal; Nestlé, 29.7%, and international institutional investors, 21.3%.
2. Procter & Gamble
Rank 2
Cincinnati
$19.57 billion (est.)
+5.2% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Pantene, Head & Shoulders, Clairol, Herbal Essences,
Nice ‘n Easy, Natural Instincts, Wella, Wella Koleston, Sebastian Professional, Nioxin,
Vidal Sassoon, Aussie, Rejoice, Frédéric Fekkai (hair care, professional products). Cover
Girl, Max Factor (makeup). Hugo Boss, Old Spice, Lacoste, Jean Patou, Gucci, Escada,
Puma, Anna Sui, Ghost, Dunhill, Christina Aguilera, Replay, Rochas (fragrance). Dolce &
Gabbana (fragrance, makeup). Venus, Olay, SK-II, Noxzema (in Western Europe), DDF,
Gillette, The Art of Shaving, Zirh (skin care). Secret (deodorant).
During the fiscal year ended June 30, 2010, sales for Procter & Gamble's beauty business rose
3% year-on-year to $19.49 billion on unit-volume growth of 3%. Net sales gains were positively
impacted 1% thanks to product price increases and negatively affected 1% by an unfavorable
geographic mix. The beauty division’s net profits increased 2% to $2.71 billion. P&G’s retail
hair care sales gained in the midsingle digits and female beauty revenues grew in the low-single
digits. Meantime, its professional hair care products' sales in salons declined in the double digits
and the prestige business’ revenues fell in the lowsingle digits. In 2010, P&G's beauty and hair
care activities were consolidated under Gina Drosos, who became group president of Global
Beauty (and subsequently group president of Global Female Beauty). Colleen Jay was named
president of Global Female Beauty, and Christopher de Lapuente left P&G as group president of
Global Hair Care. Adil Meboobkhan became president of Global Salon Professional on May 1,
2011, replacing Robert Jongstra, who's to retire on January 1, 2012. Ed Shirley, a rising star in
P&G and the beauty industry, announced on May 3, 2011, his decision to retire as vice chairman
of Beauty and Grooming, turning the reins over to Dimitri Panayotopoulos, vice chairman of
Global Household Care, on July 1, 2011. Shirley, who will depart on January 1, 2012, is said to
be leaving to fi nd a ceo position elsewhere, since Robert A. McDonald is firmly established in
P&G’s top spot. Chip Bergh, group president of Global Male Grooming, said on June 6, 2011, he
was also leaving P&G to pursue a ceo role. Ten days later, he was named president and ceo of
Levi Strauss & Co. Bergh's P&G post was filled by Patrice Louvet, formerly president of Global
Prestige, on July 1, 2011. He was succeeded by Joanne Crewes. Craig Bahner, vice president,
North America Hair Care and Color, will leave P&G on September 1. McDonald described the
personnel changes as part of corporate life’s natural progression. With Gucci Guilty in fall 2010,
P&G scored one of its biggest fragrance launches. Sales of the women's scent doubled the
company's expectations, generating $200 million in first-year global retail revenues, according to
industry estimates. In prestige fragrance, P&G ranks number two globally. Its prestige division
laid out a battle plan to venture into makeup and treatment. Another major 2010 introduction was
NatureLuxe, positioned as the first luxury and natural-inspired makeup from Cover Girl. In
September 2010, Carrie Underwood inked a two-year deal to be Olay's face in North America.
Three months later, P&G unveiled its growth strategy for the next five to six years, including
expanding its existing portfolio, developing adjacencies, growing share and markets and entering
new categories with "disruptive innovation." In February 2011, P&G consolidated its three
business units into two, with Global Beauty and Grooming absorbing oral care and feminine
care, and Global Household Care integrating the personal health, pet and snack businesses. The
move was designed to cut costs. Also this year, P&G began a two-year global pilot of a new type
of renewable, sustainable and recyclable plastic made from Brazilian sugarcane.
3. Unilever
Rank 3
London;Rotterdam, Netherlands
$16.98 billion (est.)
€12.79 billion (est.)
+16.2% V. '09 (est.)
Subsidiaries + Main Brands in 2010: Unilever Personal Care: Axe/Lynx, Impulse,
Rexona/Sure, Degree, Dove, Lux, Pond's, Suave, Sunsilk/Seda/Sedal/Hazeline, Timotei,
Clear, Mods, Vaseline, Tigi, Monsavon, Radox, Duschdas, Brylcreem.
Unilever’s total 2010 sales rose 11.2% year-on-year to €44.26 billion. At constant currency,
company revenues increased 3.6%. Growth stemmed chiefly from a strong performance in
emerging markets, which offset flat business in Unilever’s developed markets. Revenues from
the company’s personal care division, including bar soap and oral care, gained 16.2% to €13.77
billion. The uptick was due to sales of the Dove for Men + Care face and body line, Rexona
deodorant and Axe’s Excite fragrance launch. Hair care also posted growth, thanks to the new,
well-received Dove Damage Therapy hair care collection and Tigi, which continued to perform
in its professional hair care markets, including the U.S. and U.K. Unilever’s personal care sales
generated 30% of its total 2010 revenues. In December 2010, the company completed its €1.28
billion acquisition of Sara Lee Corp.’s personal care and European laundry detergent businesses.
However, approval of the deal by the European Commission was contingent on Unilever
divesting its Sanex brand in the European economic area, and in March 2011 Unilever agreed to
sell it to Colgate-Palmolive for €672 million. That deal was done in June 2011. Unilever
announced in September 2010 its definitive agreement to purchase Melrose Park, Ill.-based
Alberto Culver for $3.7 billion in cash. The acquisition was completed in May 2011, making
Unilever the world’s leading company in hair conditioning, second-largest in shampoo and thirdlargest in styling, it said. Meantime, the U.S. Justice Department stipulated Unilever must sell its
own Rave brand and the Alberto VO5 brand. Outside of the U.S., the U.K.’s Office of Fair
Trading mandated Unilever had to divest the Simple, Wright’s and Cidal bar soap brands,
formerly part of Alberto Culver’s portfolio. In June 2011, Unilever sold the perpetual license for
Simple bar soap and the Wright’s and Cidal bar soap businesses to Lornamead.
4. The Estée Lauder Cos.
Rank 4
New York
$8.29 billion (est.)
+10.6% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Estée Lauder, Aramis, Clinique, Prescriptives, Lab
Series, Origins, MAC Cosmetics, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna
Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, Sean John,
Missoni, Tom Ford Beauty, Coach, Ojon, Smashbox. Beautybank: American Beauty, Flirt,
Good Skin Labs, Grassroots Research Labs, Daisy Fuentes.
Recovery in U.S. department stores, growing specialty store revenues, a greater focus on ecommerce and digital strategies plus the strengthening of emerging markets were key drivers
fueling The Estée Lauder Cos.’ growth in 2010. It registered gains in each region. Top markets
were the U.S., which generated 38% of total 2010 sales; travel retail, with 10%; the U.K., which
rang up 8%, and Japan, which made 4%. Strong increases were noted in emerging markets,
particularly China, where the Estée Lauder brand led in prestige distribution. Company online
sales grew in the high double digits. Skin care generated 42% of the Estée Lauder Cos.’ sales;
makeup, 38%; fragrance, 15%, and hair care, 5%, in 2010. Key personnel appointments in the
period included Ricardo Quintero’s becoming senior vice president and global general manager,
market development for Clinique (a new position) and Karen Buglisi’s appointment as global
brand president for MAC Cosmetics. New faces include Joan Smalls for the Estée Lauder brand
and Heather Morris for Flirt. Lady Gaga signed for a second year as a spokeswoman for MAC
Cosmetics’ Viva Glam campaign. Clinique Even Better Spot Corrector and Estée Lauder
Advanced Night Repair Eye were among major product launches. In May 2011, Clinique
appointed Jenna Menard as its global color artist. The next month, the Estée Lauder Cos. opened
its new innovation center in Shanghai and launched a multicultural- themed advertising
campaign for its Idealist Even Skintone Illuminator and Idealist Cooling Eye Illuminator
products. Effective July 1, 2011, the Estée Lauder Cos. assumed the worldwide fragrance license
for Ermenegildo Zegna. The firm increased its marketing budget 17.6% to $2.14 billion during
its fiscal year ended June 30, 2011, versus the same prior-year period. Also in the 2011 fiscal
year, the Estée Lauder Cos. anticipated $190 million in cost savings, following savings of $360
million in the 2010 fiscal year. The company’s products are sold in more than 150 countries and
territories worldwide.
5. Shiseido Co.
Rank 5
Tokyo
$7.75 billion (est.)
¥678.99 billion (est.)
+6.4% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Shiseido, Clé de Peau Beauté, Sea Breeze, Carita,
Decléor, Nars, Joico, Aupres, Supreme Aupres, Urara, Pure & Mild, Za, D’ici Là, Ipsa,
Ayura, Ettusais, Shiseido Professional, Zotos, Serge Lutens, Bare Escentuals, In and On.
Beauté Prestige International: Parfums Issey Miyake, Parfums Jean Paul Gaultier,
Parfums Narciso Rodriguez, Parfums Elie Saab.
Shiseido's net profits for its fiscal year ended March 31, 2011, declined 62% to ¥12.79 billion,
partly due to a change in estimation of product samples and promotional materials within the
scope of assets, a devaluation loss on investments in securities plus an extraordinary loss and
other expenses related to the Japan earthquake in spring 2011. Operating profits fell 11.7% to
¥44.46 billion, stemming from a one-time surge in expenses linked to the Bare Escentuals
acquisition, which was completed in March 2010. Total net sales for Shiseido increased 4.1% to
¥670.7 billion, driven by factors such as an uptick in European and North American growth and
ongoing gains in Asia. In Japan, Shiseido generated revenues of ¥382.87 billion, a 5.8% year-onyear decline, which Shiseido attributed to factors such as ongoing depressed consumer sentiment,
its lack of response to the market’s polarization between high- and low-priced products plus
reduced retailer inventories. Overseas, Shiseido’s sales spiked 21.2% to ¥287.84 billion. The
Americas made 12.7% of total revenues; Europe, 12.6%, and Asia, 17.5%. Shiseido’s
international sales gain came thanks partly to Nars posting a significant U.S. revenues increase
and Bare Escentuals outperforming expectations. Beauté Prestige International performed well.
Shiseido also benefited from the recovery of sales in airport duty free shops and its successful
introduction of channel-specific marketing in China. China generated approximately 10% of
consolidated company revenues. By year-end 2010 in Russia, Shiseido tripled its door count
year-on-year to 900. It entered Albania, Kosovo, Macedonia, Mongolia, South Africa, Georgia,
Colombia and Moldova and was in 85 countries by the end of its last fiscal year. In 2010,
Shiseido completed the first part of its 10-year plan to become “a global player representing Asia
with its origins in Japan,” begun in 2008. The focus through 2013 is to further strengthen its
global business and to rebuild domestic activities. On April 1, 2011, Hisayuki Suekawa
succeeded Shinzo Maeda as company president and ceo.
6. Avon Products
Rank 6
New York
$7.67 billion
+3.5% v. '09*
Subsidiaries + Main Brands in 2010: Avon Color, Anew, Skin-So-Soft, Avon Solutions,
Avon Naturals, Avon Clearskin, Mark, Liz Earle, Tiny Tillia (skin care, makeup). Advance
Techniques (hair care). Reese Witherspoon, Derek Jeter, Patrick Dempsey, Emanuel
Ungaro, Christian Lacroix, Fergie, Hervé Léger (fragrance).
In 2010, Avon Products’ total revenues rose 6.4% year-on-year to $10.86 billion, driven by an
11% increase in fragrance sales. Helping spur scent revenue growth was the introduction of
Outspoken by Fergie (the Black Eyed Peas frontwoman) in October 2010, which was the direct
seller’s largest fragrance launch in company history. Last year, Avon’s net profits declined 3.1%
to $606.3 million. The company’s investment in advertising increased 13.5% against 2009 levels.
Its number of newly recruited active representatives decelerated in 2010, rising only 4% to 6.5
million, versus a 10% gain in 2009. During fourth-quarter 2010, Avon sold its ownership of
Avon Japan to an affiliate of TPG Capital for ¥7.3 billion in a bid to focus on direct-selling
markets with "high growth potential." In February 2011, Avon reorganized its six commercial
business units into two major business groups: the Developed Market Group, led by Charles
Cramb, vice chairman, and the Developing Market Group, headed by Charles Herington,
executive vice president. The changes came as Avon outlined its 2011 priorities impacting the
company’s three largest markets—namely to restore growth in Brazil and Russia, stabilize the
business in North America—plus reignite the high-margin skin care category and deliver
operating margin expansion. North America generated 20% of the company’s total revenues in
2010. Sales at constant currency exchange increased more than 60% in South Africa, more than
50% in India, 17% in Central America, 14% in Ukraine and 10% in the Philippines and
Colombia. The company said it remains positive about its long-term opportunity in China. Avon
continued investigating allegations that company employees bribed officials in China and in
other countries. In May 2011, Avon fired four employees as a result of the investigation, which
began in June 2008 and is being conducted under the oversight of the company’s audit
committee.
* NOTE: Following the sale of its Japanese subsidiary in December 2010, Avon Products
revised its 2009 numbers to reflect discontinued operations. On a like-for-like basis, Avon’s
2010 beauty sales rose 5.8% year-on-year.
7. Beiersdorf
Rank 7
Hamburg, Germany
$6.67 billion (est.)
€5.02 billion (est.)
+6.1% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Nivea, 8x4, Atrix, Labello, Hidrofugal, Eucerin, La
Prairie, Juvena, SBT Skin Biology Therapy, Marlies Möller, Florena, C-Bons Hair Care.
Beiersdorf ’s consumer business unit, including the Nivea, Eucerin and La Prairie brands,
generated total 2010 sales of €5.32 billion, up 6.2% year-on-year. On a like-for-like basis, they
rose 1.6%. Sales grew 14.2% in North America and 15.3% in Latin America, while revenues in
Germany—Beiersdorf's main market—declined 2.3%. Elsewhere in Western Europe, they
dipped 1.4%. Only the region’s top export markets—the U.K. and Russia—had sales growth.
Revenues in Eastern Europe fell 2.2%; in the zone including Africa, Asia and Australia they
increased 2.5%, while sales in China fell. Nivea held 150 number-one positions worldwide in
2010. The brand registered global growth of 1.8% on a like-for-like basis, driven by Nivea
Deodorant, Nivea for Men and Nivea Sun. On a like-for-like basis, Eucerin recorded global gains
of 9%, and La Prairie registered a 7.5% rise. Beiersdorf's key beauty introductions in 2010
included Nivea For Men Silver Protect products, the global relaunch of Nivea’s Q10 face and
body care, La Prairie’s Cellular Eye Cream Platinum Rare and Eucerin’s first men’s line, the
Silver Shave collection. In October 2010, Patrick Rasquinet was named president and ceo of La
Prairie Group. That same month, Nivea announced an expanded travel-retail strategy involving it
selling some products in various European, Asian and American airports. In November 2010,
Nivea established an affi liate in Vietnam. In December 2010, Beiersdorf sold its Juvena skin
care and Marlies Möller hair care brands to Austria’s Troll Cosmetics. The next month,
Beiersdorf announced plans to stop selling Nivea makeup in Germany and that it would reduce
hair care activities while focusing investments in skin and body care. In March 2011, the
company said it would stop retailing Nivea makeup in France by 2012. Nivea turns 100 in 2011,
and almost €1 billion has been invested to promote the brand, including sponsorship of
Rihanna’s concert tour.
8. Kao Group
Rank 8
Tokyo
$5.83 billion (est.)
¥510.7 billion (est.)
-7.6% v. '09 (est.)
Subsidiaries + Main Brands in 2010:Kao Corp.: Bioré, Sofina (skin care). Asience,
Essential, Merit, Sifoné, Feather, Liese, Blauné, Segreta, Cape, Prettia (hair care). Aube,
Est (makeup). Kao Brands: Jergens, Curél (skin care). John Frieda, Guhl (hair care). Ban
(deodorant, outside Japan). KPSS GMBH: Goldwell, KMS (hair care). Molton Brown:
Molton Brown (fragrance, skin care). Kanebo Cosmetics: Sensai, RMK, Suqqu, Aqua
Sprina, Twany, Impress, Freeplus, Dew Superior, Blanchir Superior, Freshel (skin care,
makeup). Lunasol, Coffret D’Or, Kate, Lavshuca (makeup). Doltier, Lissage, Chicca (skin
and body care, makeup). Evita (skin, body and hair care; makeup). Allie, Sala (sun and
hair care). Suisai (skin care).
Kao Group’s beauty sales for the fiscal year ended March 31, 2011, declined 2.6% year-on-year
to ¥533.5 billion and generated 45% of total revenues. On a constant-currency basis, sales dipped
0.4%. Revenues were negatively impacted by Japanese consumers’ ongoing preference for
lower-priced products and fallout from the earthquake. Operating profits rose 0.7% to ¥5.5
billion, while operating margin increased 10 percentage points to 1%. Kao said its promotion of
megabrands with annual revenues of more than ¥10 billion, such as Sofina Beauté, Sofina
Primavista and Coffret D’Or, and focus on launching new lines and products into existing
collections are paying off. A slowdown was noted in China. Kao's prestige cosmetics' sales
declined 4% to ¥254.4 billion, although new products spurred a strong performance in Taiwan
and Thailand. In premium skin care, Bioré primarily drove Kao's domestic revenues. Among
self-selection cosmetics, Kao focused on brands including Coffret D’Or in makeup and Sofina in
skin care and base color cosmetics. Kao updated in-store merchandising for Kate and Evita. In
Japan, a multifunctional cream and a low-priced collection were added to Freshel. Curél’s
sensitive skin line was launched in the U.S., and the brand’s distribution was broadened. Kao’s
premium hair care product sales were flat in Japan. Merit and Essential shampoo revenues held
steady. Yet Kao’s colorant business was negatively impacted by intensified competition.
Elsewhere in Asia, Kao’s hair care sales increased, thanks to Liese hair color foam. In North
America, the Goldwell and KMS professional hair care brands registered sales upticks. John
Frieda also posted gains from its hair color foam launch in Europe. Kanebo Cosmetics' revenues
declined about 5% in the most recent fiscal year. Kao Corp.’s major international markets
remained Mainland China, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan, Thailand and
Vietnam. In mature markets—mainly North America and Europe—the company aims to create
high value-added products in the prestige cosmetics, premium mass skin and hair care and
professional hair care segments.
9. Johnson & Johnson
Rank 9
New Brunswick, N.J.
$5.7 billion (est.)
+0.2% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Neutrogena, Aveeno, RoC, Clean & Clear, Johnson’s,
Ambi, Purpose, Shower to Shower, Lubriderm, Piz Buin, Le Petit Marseillais, Bebe, Natusan,
Penaten, Prim’Age, Vendome, PH5.5, Biafine, Sod Milk, Sod Protein Milk, Beauty Day Cream,
Persavon, Sundown, Dabao, Korres (for North and South America).
Johnson & Johnson’s 2010 Beauty Care division’s business was driven by growth in emerging
markets, due to well-received product launches, and expansion in more mature markets. Last
year, antiaging took center stage, when Aveeno, Neutrogena and RoC launched products whose
formulas use Cytomimic Technology, which is billed to mimic the body’s bioelectricity to help
stimulate the skin’s renewal process and therefore give a more youthful appearance. Neutrogena
continued registering strong growth in the Asia-Pacific region. The brand drew new consumers
in China thanks to launches such as White Vitality. Neutrogena Norwegian Formula lines
remained number one in South Korea’s hand and body categories. Aveeno expanded in France
and Australia. Last year, the brand’s business grew in the Asia-Pacific region—with strong gains
noted again in South Korea, Australia and New Zealand—as a result of increased distribution of
its body care products in the grocery channel and Aveeno Baby’s launch in South Korea,
Australia and New Zealand. Aveeno registered sales upticks in South Korea in the lotion,
moisturizer, body wash, plus sun and baby care categories. Clean & Clear unveiled upgraded
products designed for the Asia-Pacific region’s teen market, including Deep Action Cleanser, Oil
Control Film and Clear Fairness Lotion with SPF 30. Dabao’s revenues grew due to its
expansion within China. RoC widened its drugstore reach. During 2010, Johnson’s was the
leading baby skin care brand in markets including the U.S., U.K., Canada, Germany, Italy,
Australia, New Zealand, Mainland China, Hong Kong and Taiwan. Neutrogena entered the
naturals category with Neutrogena Naturals face care in the U.S. in January 2011. During firstquarter 2011 also in the U.S., Aveeno launched Smart Essentials, a face care line billed to
combat environmental stressors while nourishing and protecting skin, and Living Color,
especially designed for color-treated hair. Clean & Clear introduced its first body wash
collection, Clean & Clear Morning Burst Body Wash.
10. Chanel
Rank 10
Neuilly-sur-Seine, France
$4.44 billion (est.)
€3.34 billion (est.)
+18% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Chanel No.5, Allure, Allure Homme, Coco, Coco
Mademoiselle, Chance, No.19, Cristalle, Pour Monsieur, Antaeus, Egoïste, Les Exclusifs,
Bleu de Chanel (fragrance). Sublimage, Ultra Correction Lift and Line Repair, Hydramax
+ Active, White Essentiel, Le Blanc, Hydra-Beauty (skin care). Rouge Allure, Rouge Coco,
Le Vernis, Inimitable, Inimitable Intense, Les 4 Ombres, Vitalumière, Joues Contrastes
(makeup).
Chanel’s growth last year was largely thanks to successful fragrance and makeup launches. The
Bleu de Chanel scent, out in August 2010, ranked in the top five among men’s prestige
fragrances in France, Germany, Italy and the U.K. between September and December 2010. It
placed second in the U.S. last year. Rouge Coco lipstick was a bestseller in several key markets,
and Chance Eau Tendre also had a strong showing. In 2010, fragrance generated 58% of
Chanel’s beauty sales; makeup, 28%, and skin care, 14%. Revenue gains year-on-year in those
categories were 24%, 16% and 3%, respectively. Chanel boosted its market share in the nail
segment with the launch of numerous shades, notably its taupe-toned Particulière hue. In 2010,
Chanel’s share of the selective nail color segment was 59% in the U.S., 44% in France, 60% in
Italy and 51% in Germany. Key 2010 skin care introductions included Sublimage Essence,
Sublimage La Crème and Ultra Correction Lift Eye. In the U.S., the company launched Ultra
Correction Line Repair, and in Asia it introduced Le Blanc, a collection whose product formulas
include the patented TXC whitening ingredient. Sales in the U.S., Chanel’s largest market, had
strong gains, and in Asia they continued an upward trajectory. France (where Chanel ranked
eighth in selective skin care and second in makeup) and Japan are Chanel’s second- and thirdlargest markets. Together with the U.S., they accounted for 31% of sales and combined
generated a 17% year-on-year revenue gain. Chanel began rolling out a new visual identity for its
beauty sales points last year with four pilot doors in the U.S., China and Japan. The concept,
which emphasizes a Mondrian-inspired design, has since been introduced in Canada, Brazil,
Taiwan and Hong Kong. Chanel in 2010 also rolled out internationally in-store stands
incorporating its three product categories and the Espace Parfums concept. Freestanding doors
were opened in Singapore and Moscow.
11. LVMH Moët Hennessy Louis Vuitton
Rank 11
Paris
$4.09 billion
€3.08 billion
+12.2% v. '09
Subsidiaries + Main Brands in 2010: Perfumes and Cosmetics/Parfums Christian Dior:
Addict, Higher, J’adore, Dolce Vita, Tendre Poison, Fahrenheit, Eau Sauvage, Poison,
Midnight Poison, Capture Totale, Diorskin, Dior Homme, Dior Homme Sport, Miss Dior
Chérie, L’Or de Vie, Escale à Portafino. Guerlain: Issima, Shalimar, Les Aqua Allegoria,
L’Instant de Guerlain, Insolence, Vetiver, Super Aqua Serum, Orchidée Impériale,
Météorites, Terracotta, Guerlain Homme. Parfums Givenchy: Givenchy Pour Homme,
Organza, Amarige, Very Irresistible, Ange ou Démon, Play, Instant Magic. Givenchy Le
Makeup. Parfums Kenzo: Flower by Kenzo, Kenzo Amour, Eaux by Kenzo, KenzoKi,
KenzoPower. Parfums Loewe. Sephora. Acqua di Parma. Benefit Cosmetics. Fresh. Make
Up For Ever. Fendi. Pucci.
In 2010, fragrance remained the LVMH Moët Hennessy Louis Vuitton Perfumes and Cosmetics
division’s strongest category, generating 48% of sales. Cosmetics made 34% and skin care, 18%.
The division rang up 14% of its revenues in France, 39% elsewhere in Europe, 8% in the U.S.
and 6% in Japan. The rest of Asia accounted for 18% and “other markets,” 15%. The division’s
profits from continuing operations were €332 million, a 14.1% year-on-year increase. The
Perfumes and Cosmetics division generated 15.1% of LVMH’s total 2010 sales of €20.32 billion.
Dior, the company’s star beauty brand, benefited from the continuing popularity of the J’Adore,
Poison and Eau Sauvage fragrances, while Rouge Dior lipstick, launched in the second half of
2010 with 32 couture-inspired shades, and Capture skin care performed well, too. Guerlain
posted record revenues and profits. Its business was strong, particularly in France and China, and
sales were boosted by business from the Idylle women’s scent, Shalimar fragrance line plus
Orchidée Impériale and Abeille Royale in skin care. Givenchy’s Play for Her fragrance was
launched worldwide to good reception, while Benefit, which expanded its presence in the U.S.,
Europe and Asia, and Make Up For Ever, which posted strong revenues and profits, performed
well globally. Kenzo’s business was driven by the ongoing healthy results of the Flower by
Kenzo line following a new advertising campaign and a woody version. Officially starting in
January 2011, the LVMH Fragrance Brands unit regrouped the sales forces—but not the
creative, marketing and communications activities—of Givenchy, Kenzo, Pucci and Fendi. In
February 2011, LVMH acquired a 70% stake in the U.K.-based Nude skin care brand and the
U.S.-based spa skin care line Ole Henriksen. The purchases were part of LVMH’s ongoing
strategy to identify high-potential brands and lead them to further growth. In March 2011,
LVMH bought the luxury jewelry house Bulgari.
12. Coty
Rank 12
New York
$3.74 billion (est.)
+6.9% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Coty Prestige: Balenciaga, Bottega Veneta, Calvin
Klein, Cavalli, Cerruti, Chloé, Chopard, Davidoff, Dr. Scheller Cosmetics, Heidi Klum,
Jennifer Lopez, Jil Sander, Joop, Karl Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by
Gwen Stefani, Lady Gaga, Lancaster, Marc Jacobs, Philosophy, Sarah Jessica Parker,
Vera Wang, Vivienne Westwood, Wolfgang Joop. Coty Beauty: Adidas, Astor, Baby Phat,
Beyoncé Knowles, Celine Dion, David and Victoria Beckham, Esprit, Faith Hill, Guess,
Halle Berry, Kate Moss, Kylie Minogue, La Cross, Manhattan, Miss Sixty, Miss Sporty,
Nautica, N.Y.C. New York Color, OPI, Pierre Cardin (for Europe), Playboy, Rimmel, Sally
Hansen, Stetson, Tim McGraw, TJoy.
Coty’s 2010 sales increase stemmed from key product launches and existing brands, including
Calvin Klein Beauty, Calvin Klein Eternity Aqua, Playboy Female, Beyoncé Heat, Davidoff
Champion, Love Chloé, Guess Seductive, Sally Hansen and Rimmel. Coty made major global
acquisitions last year that intentionally shifted its portfolio toward cosmetics and skin and body
care. In November 2010, it bought Dr. Scheller Cosmetics from Kalina; the Philosophy skin care
brand from The Carlyle Group, and professional nail enamel firm OPI Products. In December
2010, Coty purchased Chinese mass market skin care company TJoy. In 2010, fragrances
generated 63% of Coty’s sales; color cosmetics, 24%, and skin and body care, 13%. Coty Beauty
made 51% of company revenues and Coty Prestige, 49%. Coty’s three largest markets remained
the U.S.—making $1 billion—then Germany and the U.K., ringing up $400 million each. Coty’s
sales in the Europe, Middle East and Africa zone generated 54% of revenues; the Americas,
36%, and the Asia-Pacific region, 10%. Coty signed a license with the Roberto Cavalli Group for
Roberto Cavalli and Just Cavalli fragrances, with Calvin Klein for color cosmetics, and with
Lady Gaga and Heidi Klum for scents. In January 2011, private equity firms Berkshire Partners
and Rhône made minority equity investments in Coty.
13. Henkel
Rank 13
Düsseldorf
$3.63 billion (est.)
€2.73 billion (est.)
+8.8% v. '09 (est.)
Subsidiaries + Main Brands in 2010: Retail: Schwarzkopf, Dial, Fa, Taft, Gliss Kur,
Schauma, Palette, Diadermine, Brillance, Got2b, Dep, L.A. Looks, Citré Shine, Smooth ’N
Shine, Right Guard, Soft & Dri, Dry Idea, Tone, Coast, Pure & Natural, Souplesse, Paon,
Fresh Light, Activ Dr. Hoting, Syoss, Haiermian, Perfect Mousse. Professional: Igora, BC
Bonacure, Osis, Seah Hairspa, Silhouette, Indola, BlondMe, Essensity.
Revenues from Henkel’s cosmetics and toiletries division, including oral care, rose 8.6% to
€3.27 billion in 2010, due to well-received new products and growth in emerging markets. On a
currency-neutral basis, sales gained 4.7%. The division generated 22% of Henkel’s total
revenues. Operating profits increased 6.1% to €411 million. Economic conditions negatively
impacted Henkel’s core markets of Western Europe, where business was lackluster with the
exception of Germany, and North America, where sales dipped despite market-share growth.
Africa and the Middle East, Latin America and Eastern Europe achieved double-digit revenue
increases. Henkel’s largest cosmetics brands—Schwarzkopf, whose annual sales are about €1.8
billion, Dial and Fa—rang up 71% of the division’s revenues. Right Guard expanded into
Germany and Eastern Europe. Hair care reached record market-share levels globally. Hairstyling revenues were bolstered by introductions such as Drei Wetter Taft hair spray’s
international relaunch. On January 1, 2011, Henkel acquired Schwarzkopf Inc. for €41 million.
In May 2011, Henkel sold its almost 51% stake in Henkel India to Jyothy Laboratories.
14. Natura Cosmeticos
Rank 14
Sao Paulo
$2.93 billion
R$5.14 billion
+21.1% v. ’09
Subsidiaries + Main Brands in 2010: Chronos (skin care). Tododia (skin care, deodorant).
Ekos (fragrance, hair and skin care; bath and body oil). Mamãe e Bebê (fragrance, hair
care, bath and body oil). Amó (fragrance).
Natura, Brazil’s largest beauty products manufacturer, attributed its 2010 revenue growth to
increased marketing and a larger global independent sales consultant team, which last year grew
15.6% year-on-year to 1.2 million. In Brazil, there was a 17% rise to just more than 1 million and
an 8% increase abroad to 172,000. Natura’s 2010 net profits gained 8.8% to R$744.1 million.
International sales jumped 27.2% and generated 7.3% of the company’s total business in 2010,
whereas in 2009, those percentages were 42.8% and 6.9%, respectively. Last year, Natura started
production operations outside of Brazil for the first time, via a partnership in Argentina. In 2011,
it plans to open two more production facilities abroad—also through partnerships—in Mexico
and in Colombia. Last year, Natura launched 168 products, versus 113 in 2009, bringing its total
count to 877. Since September 2010, key introductions included the Natura Una makeup line and
the Amó fragrance, now a company top seller. Guilherme Leal, one of the founders of Natura,
was reinstated in April 2011 as a co-president after he temporarily left the company in May 2010
to run for political office. Natura has wholly owned subsidiaries in Argentina, Mexico,
Colombia, Peru, Chile and Bolivia. Its products are sold in 11 countries. Natura has one store, in
France.
15. Mary Kay
Rank 15
Dallas
$2.61 billion (est.)
+4.2% v. ’09 (est.)
Subsidiaries + Main Brands in 2010:Mary Kay (skin, sun, bath and body care; makeup,
fragrance). TimeWise, MKMen (skin care). Satin Hands (hand care). Velocity (skin care,
fragrance).
Skin care remained Mary Kay’s core business in 2010. Among its key product launches was
TimeWise Body, its first antiaging body care line, which came out in spring 2010 with
TimeWise Body Hand and Décolleté Cream Sunscreen SPF 15 and Mary Kay TimeWise Body
Targeted-Action Toning Lotion. Over the past 12 months, other key introductions have included
Mary Kay TimeWise Liquid Foundation—offering a wide variety of shades and finishes for
different skin types—plus Mary Kay Foundation Primer, Mary Kay Liquid Foundation Brush,
Mary Kay Compact Mini, Mary Kay Cream Eye Colors, Mary Kay Cream Blush and Mary Kay
Thinking of You Eau de Parfum. Mary Kay’s bestsellers currently include Oil-Free Eye Makeup
Remover, TimeWise 3-in-1 Cleanser, the Mary Kay Compact, TimeWise Age-Fighting
Moisturizer and the Satin Lips Set. The company counts more than 200 products in its portfolio.
It entered Armenia in 2010. Mary Kay’s largest countries remain the U.S., Russia, China and
Mexico. In 2010, more than 2 million people made up Mary Kay’s independent sales force in
over 35 countries. The company has more than 6,000 independent beauty consultants in the U.S.,
over 500,000 in China and more than 450,000 in Russia.
16. AmorePacific Group
Rank 16
Seoul
$2.15 billion
KRW 2.47 trillion
+21.3% v. ’09
Subsidiaries + Main Brands in 2010: Amorepacific, Sulwhasoo, Laneige, Mamonde, Hera,
Lirikos, Iope, Hannule, Etude, Innisfree (cosmetics). Lolita Lempicka (fragrance). Amos,
Spa Goa, Mise en Scene, Ryoe (hair care). Happy Bath (body care).
AmorePacific Group attributed its 2010 sales gain to the economic recovery and its ability to
build brands in diverse distribution channels. In South Korea, where it commands 40% market
share, business generated 85% of overall company revenues. Domestically, AmorePacific
Group’s luxury cosmetics sales increased 25% year-on-year, driven by the Sulwhasoo, Hera and
AmorePacific brands. China and other Asian countries made up 10% of the total; France, 4%,
and the U.S., 1%. AmorePacific’s revenues climbed 22% in China. In France, the Lolita
Lempicka fragrance brand becameprofitable. Company sales increased 2% in the U.S. Door-todoor made 23% of overall AmorePacific Group revenues, 32% from department stores (which
registered 39% growth—the highest of any channel), 22% from specialty stores, 16% from
hypermarkets, 5% online and 2% from others. Revenues from the company’s Aritaum cosmetics
shops, which sell its brands domestically, grew 24% and accounted for 33% of the premium
division’s sales. Luxury cosmetics made up 47% of the firm’s revenues; premium cosmetics,
33%, and mass products, 20%. Etude and Innisfree’s sales increased 41% and 43%, respectively.
Pacific Corp.’s name was changed to AmorePacific Group in March 2011.
17. Groupe Yves Rocher
Rank 17
Issy-les-Moulineaux, France
$2.14 billion
€1.61 billion
+6.8% v. ’09
Subsidiaries + Main Brands in 2010: Yves Rocher, Daniel Jouvance (skin and body care,
makeup, fragrance). Dr. Pierre Ricaud (skin and body care, makeup). Stanhome World:
Kiotis, Stanhome (skin and body care, fragrance). Isabel Derroisné (fragrance).
The Yves Rocher brand—France’s leading cosmetics label in all segments combined, according
to Kantar WorldPanel—generated about 60% of Groupe Yves Rocher’s total 2010 sales of €2.06
billion, which rose 6.7% year-on-year. Mail-order and Internet revenues together made up 40%
of the company’s total business; brick-and-mortar stores, 35%; direct sales, 17%, and other
sources, 8%. Exports rang up 61% of Groupe Yves Rocher’s overall sales last year. France
generated 39%; Germany, 10%, and Russia, 9.5%. The company had 15,000 employees—
including 7,000 in France and 8,000 internationally—and approximately 220,000 independent
employees worldwide in 2010. The Yves Rocher brand continued renovating its store network.
By year-end 2010, 450 Yves Rocher boutiques were converted to its L’Atelier de la Cosmétique
Végétale botanical-themed format, which boosts sales 15% versus its traditional stores. All of
Yves Rocher’s 1,600 international doors should be renovated by the end of 2014.
18. Limited Brands
Rank 18
Columbus, Ohio
$2.1 billion (est.)
+2.5% v. ’09 (est.)
Subsidiaries + Main Brands in 2010: Bath & Body Works: Bath & Body Works Signature
Collection, Aromatherapy, True Blue Spa, C.O. Bigelow, Patricia Wexler M.D.
Dermatology, Slatkin & Co., Liplicious. Victoria's Secret: VS Fantasies, Dream Angels,
Supermodel by Victoria’s Secret, Rapture, VS Attractions, VS Bombsell, VS Pink, Body by
Victoria, Incredible by Victoria’s Secret (fragrance). Sexy Little Things, Very Sexy
(fragrance, body care). Beauty Rush, VS Makeup (makeup).
Limited Brands’ net profits rose 79.7% to $805 million on net sales of $9.61 billion, up 11.4% in
the fiscal year ended January 29, 2011, versus the same prior-year period. Bath & Body Works’
overall revenues were $2.52 billion, a 5.5% increase, driven by the expanded Signature
Collection. Twilight Woods men’s and women’s fragrances were among Bath & Body Works’
most successful 2010 product launches. In October 2010, Bath & Body Works entered the
Middle East, opening stores in Kuwait and Dubai. Bathandbodyworks.com’s sales continued
growing and outpaced the retailer’s brick-and-mortar stores’ average increase. Victoria’s Secret
total revenues gained 11.5% to $5.92 billion, thanks to newness and innovation. Its launch of the
Incredible by Victoria’s Secret scent—inspired by the bra of that name—also boosted Limited
Brands’ 2010 fragrance revenues. Limited-edition seasonal scents, such as The Coconuts, were
popular. In late summer 2011, Nick Coe will become Bath & Body Works’ ceo, replacing Diane
Neal, who is to be a company advisor.
19. Oriflame Cosmetics
Rank 19
Stockholm
$2 billion
€1.51 billion
+14.9% v. ’09
Subsidiaries + Main Brands in 2010: Oriflame (makeup, skin care, fragrance, toiletries).
Business in core markets of Eastern Europe and the former Soviet Union rebounded strongly in
2010, helping to drive Oriflame’s overall 2010 sales. The company’s business in Russia, the
Commonwealth of Independent States and the Baltics grew 19% to €861 million and contributed
57% of overall company revenues and 86% of its operating profits last year. Sales from Asia,
which made just under 10% of total revenues, and Latin America, which contributed 6%, posted
sales gains of 27% and 35% (Oriflame’s steepest uptick), respectively. On a like-for-like
currency basis, Oriflame’s 2010 revenues grew 8%. Net profits rose 17.2% year-on-year to
€117.5 million. The company’s fragrance business—boosted by the launches of Midnight Pearl
and Flamboyant—grew fastest among its product categories and rang up 21% of company sales.
Color cosmetics generated 24% of business; skin care, 22%; personal care, 20%, and other, 13%.
Oriflame’s global sales force increased 8.6% to about 3.8 million. By year-end 2010, the
company sold its products in 61 countries. Oriflame was forced to leave Iran in 2010 by
government authorities there.
20. Alticor
Rank 20
Ada, Mich.
$1.97 billion (est.)
+5.1% v. ’09 (est.)
Subsidiaries + Main Brands in 2010: Artistry, Beautycycle (makeup, skin care). Tolsom
(men’s skin care). Body Series, G&H (body care). Satinique (hair care). Laura Mercier
(makeup, skin care, fragrance). RéVive (skin care).
Alticor’s total 2010 revenues, including its nutrition, wellness, beauty and home products
businesses, increased 9.5% year-on-year to $9.2 billion. Health and beauty sales led the global
gain. In beauty, Artistry, which ranks among Alticor’s flagship brands, drove growth largely
thanks to Artistry Intensive Skincare Renewing Peel, which was launched starting in August
2010. Artistry is one of the world’s five top-selling premium skin care brands, according to
Euromonitor International. The masstige Beautycycle brand, whose product formulas contain
natural ingredients, was introduced in Europe and Australia. Laura Mercier is sold in more than
1,000 high-end stores in 26 countries. In 2010 and the first quarter of 2011, the brand in the U.S.
ranked ninth in dollar terms in makeup, tenth in total beauty and thirteenth in skin care,
according to NPD. Laura Mercier is among the fastest-growing prestige skin care brands in the
U.S., and Tinted Moisturizer is among its bestsellers. In February 2011, Alticor’s New Yorkbased subsidiary Gurwitch Products named Claudia Poccia president and ceo.
21. Kosé Corp.
Rank 21
Tokyo
$1.96 billion (est.)
¥171.88 billion (est.)
-0.9% v. ’09 (est.)
Subsidiaries + Main Brands in 2010: Kosé Corp.: Cosme Decorte, Awake, Sekkisei, Visée,
Esprique Precious, Stephen Knoll Collection, Prédia, Jill Stuart, Addiction, Adidas (for
Japan). Kosé Cosmenience Co. Ltd., Kosé Cosmeport Corp., Albion Co. Ltd., Dr. Phil
Cosmetics Inc.
Kosé Corp.’s practically flat beauty revenues in 2010 were due largely to Japan’s slump in
consumer spending. Yet sales of the company’s high-end brands remained strong, as did its
business abroad in local currencies. During the past three years, Kosé’s exports have increased
10% annually in local currency, with key foreign markets being China, Taiwan and South Korea.
Its business abroad in the year ended March 31, 2011, grew 12.5% to ¥21.02 billion, or 12.3% of
Kosé’s total net revenues. Company net profits increased 30.5% to ¥6.73 billion. Kosé’s midterm
business plan, which ended in March 2011, included rebuilding the company’s domestic
cosmetics business, reinforcing overseas operations and entering new business fields. In
November 2010, Kosé introduced under Cosme Decorte and with designer Marcel Wanders the
AQ MW premium skin care line. The Stephen Knoll Collection was relaunched in August 2010.
Jill Stuart sales rose in the last fiscal year. Kosé is reviewing its strategy for Adidas men’s beauty
products in Japan.
22. Pola Orbis Holdings
Rank 22
Tokyo
$1.96 billion
¥139.64 billion
+2.5% v. '09
Subsidiaries + Main Brands in 2010: Pola: Whitissimo Apex-i, B.A, Creatage, Wrinkle
Shot, White Shot, Estina Alvita, Whitissimo, Aglaira, Signs Solution, Muselle. Orbis: Aqua
Force, Clear, Whitening, Excellent, White AW. PdC: Pure Natural, UV Moisture, Arbu
White, Soda Salon, Shape Queen, Moist & Drop, Naturina. Future Labo:Derma Q II.
Acro: Three. Decencia: Tsutsumu.
Skin care drove Pola Orbis Holdings’ 2010 sales growth. Operating profits for its cosmetics
activities, including treatment, makeup and Pola The Beauty stores, were ¥10.5 billion, up 25%
year-on-year. Driving gains for the Pola division was the relaunch of B.A with updated formulas
andthe introduction of Whitissimo in March 2010. Pola derived 95% of its business from direct
sales. For the Orbis division, 70% of whose revenues stem from mail order and online, and 30%
from brick-and-mortar stores, the uptick was spurred by Clear and Cleansing Liquid products.
Acro recorded higher year-on-year sales of the Three natural skin care and makeup brand. Pola
The Beauty, selling Pola’s beauty brands, had 500 locations in 2010, 65 more than in 2009, and
made 30% of company business. Cosmetics generated 84.5% of Pola Orbis’ 2010 revenues. It
sells to 14 markets abroad, the U.S. being the largest. In December 2010, Pola Orbis Holdings
raised ¥6.7 billion by going public on the Tokyo Stock Exchange. Last year, the firm had
120,000 sales representatives. In May 2011, it announced plans to acquire H2O Plus LLC.
23. Puig
Rank 23
Barcelona
$1.45 billion (est.)
€1.09 billion (est.)
+16.6% v. ’09 (est.)
Subsidiaries + Main Brands in 2010: Puig Prestige: Carolina Herrera, Paco Rabanne, Nina
Ricci, Comme des Garçons Parfums, Prada Parfums, Valentino. Payot. Puig Beauty:
Antonio Banderas, Shakira, Mango, Massimo Dutti, Zara, Agatha Ruiz de la Prada.
Family-owned Puig’s 1 Million men’s fragrance, from Paco Rabanne, ranked number one in
France, Spain and the U.K. in 2010, according to NPD. The global launch of Lady Million in
September 2010 was well-received. In 2010, Puig claimed a 7% share of the global prestige
fragrance market. Spain, where business rose 2% year-on-year, generated 26% of the company’s
total 2010 revenues, which—including sales from fashion activities—were €1.2 billion, up 22%.
Western Europe made 31% and Latin America, 21%. Puig’s products are in 130 countries. Other
growth drivers included the launches of Carolina Herrera’s 212 VIP, Nina Ricci’s L’Élixir de
Nina and Prada’s Infusion d’Iris eau de toilette. From Puig Beauty, Adolfo Domínguez’s Bambú
Mujer and Colección Privada, Antonio Banderas’ The Secret plus Shakira’s S by Shakira were
successful in Spain. Puig transformed its Prada joint venture into a fragrance licensing
agreement. In February 2010, Puig inked the Valentino fragrance license. In May 2011, the
company bought a majority stake in Jean Paul Gaultier.
24. Alberto Culver
Rank 24
Melrose Park, Ill.
$1.42 billion (est.)
+4.4% v. ’09(est.)
Subsidiaries + Main Brands in 2010: Alberto VO5, TRESemmé, Nexxus Salon Hair Care,
Consort (hair care). St. Ives, Noxzema, Simple (skin care). Soft & Beautiful, Just for Me,
Motions, TCB (ethnic hair care).
Unilever announced in September 2010 its defi nitive agreement to purchase Alberto Culver for
$3.7 billion in cash. The acquisition, completed in May 2011, was meant to expand Unilever’s
presence in mass market hair care with various brands, such as Alberto Culver’s professionally
positioned Nexxus and fashion-forward TRESemmé. However, the U.S. Justice Department
stipulated Unilever must sell its own Rave brand and the Alberto VO5 brand. Considered
Alberto Culver’s brightest star, TRESemmé was the top-selling brand in the U.S. hair spray
segment, with an 11.9% dollar share in 2010, according to SymphonyIRI. Alberto Culver ranked
second in hair spray, after Procter & Gamble, with its 19.3% dollar share. TRESemmé was
fourth in the U.S. hair care market with retail revenues exceeding $100 million. For the 12month period ended June 30, 2010, Alberto Culver posted sales of $1.6 billion. The firm’s major
markets remained the U.S., U.K. and Mexico, and 36% of its revenues were made abroad.
25. Elizabeth Arden
Rank 25
New York
$1.41 billion (est.)
+7.6% v. ’09 (est.)
Subsidiaries + Main Brands in 2010: Elizabeth Arden (skin care, makeup, fragrance).
Prevage (skin care). Elizabeth Taylor, Mariah Carey, Britney Spears, Taylor Swift, Usher,
Juicy Couture, Alberta Ferretti, Geoffrey Beene, Halston, John Varvatos, Kate Spade New
York, Lucky Brand, Bob Mackie, Badgley Mischka, Alfred Sung, Rocawear, Curve,
Giorgio Beverly Hills, PS Fine Cologne (fragrance).
Sales momentum continued across all of Elizabeth Arden’s markets and key brands, led by the
company’s international business, which generated about 35% of overall sales and grew 12% in
2010. Elizabeth Arden-branded products’ revenues increased 11% and sales from fragrance
advanced 7%. That included a 17% revenue jump from Britney Spears fragrances and an 8%
increase from Juicy Couture scents. In November 2010, Elizabeth Arden signed a fragrance
license with Taylor Swift. The singer’s first scent is set for September 2011. This fall also marks
the 20th anniversary of the best-selling White Diamonds Elizabeth Taylor fragrance. Recent key
introductions include Juicy Couture and Britney Spears scents; Prevage and Ceramide skin care,
plus the Red Door fragrance’s global relaunch. In October 2010, Dirk Trappmann was named
Elizabeth Arden executive vice president and general manager, international.
C Luxury
Source WWD Annual report
August 12, 2011
Beauty market Monitoring & Analysis