ULTA - Beauty Stock Bonanza: L'Oréal Foresees A $427 Billion Market By 2030 — Here Are The Stocks That Could Benefit | Benzinga
L'Oréal Co. (OTC: LRLCF) (OTC: LRLCY), a global leader in the beauty industry, is undergoing significant transformations under the leadership of its CEO, Nicholas Hieronimus, according to a note by Bloomberg.
Hieronimus projects the beauty market to escalate to a staggering €400 billion ($426.8 billion) by 2030, up from its current €270 billion.
Embracing Beauty Tech
The most significant transformation in the beauty industry, according to Hieronimus, is the integration of advanced technology, the report added.
L'Oréal is harnessing the power of AI to enhance the performance of beauty products, offering personalized solutions and advanced diagnostics, Bloomberg added.
The company's commitment to technology is evident, with an annual investment exceeding $1 billion to pioneer the beauty tech frontier.
L'Oréal's dedication to sustainability began in the early 2000s, leading to a significant reduction in CO2 emissions.
While the company is reportedly committed to using 100% ...