Unveiling the Remarkable Rise of L’Oreal Heiress
Francoise Bettencourt Meyers, recognized as the globe’s wealthiest woman, has witnessed a substantial surge in her net worth, soaring from $80.5 billion at the year’s onset to an impressive $92.1 billion.
This remarkable increase of $11.6 billion is attributed to the stellar performance of the global beauty brand, L’Oreal Paris.
Forbes data highlights that L’Oreal’s stock price has experienced a notable year-to-date increase of 27.08%, with an impressive 11% rise in recent months.
The surge in net worth finds its roots in L’Oreal’s robust third-quarter sales, driven by remarkable growth in Europe and a surge in the United States.
Despite a 4.8% dip in sales in North Asia, attributed to heightened Chinese government control over resellers impacting L’Oreal’s travel retail business, particularly in Hainan and South Korea, the brand maintained a 7.7% sales growth in mainland China over the initial nine months.
Despite challenges like high youth unemployment and a property crisis in China, L’Oreal remains “ambitious” for the country, with plans to expand labels like Lancome into lower-tier cities in the coming year.
As a significant player in China’s $78.9 billion beauty and personal care market, L’Oreal continues to gain market share. Its luxury division leads the high-end cosmetics sector with renowned brands such as Yves Saint Laurent, Valentino, and Prada.
Francoise Bettencourt Meyers, granddaughter of L’Oreal’s founder, and her family own approximately 33% of L’Oreal’s stock. Since 1997, she has served on L’Oreal’s board and holds the position of chairwoman within the family holding company.
Her ascent as France’s primary L’Oreal heiress occurred in 2017, succeeding her mother Liliane Bettencourt, who held the title of the world’s wealthiest woman until her passing at the age of 94.
Beyond her corporate roles, Bettencourt Meyers also serves as the president of her family’s philanthropic foundation, dedicated to advancing French achievements in the sciences and arts.