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UNLVF - L'Oréal: Global Leader In Beauty With Growth And Resilience
Unilever NV
Introduction
L'Oréal (LRLCF) is a French-headquartered global beauty products company. Its stock has been resilient in the last 5 years, up nearly 40% since start of 2018, and has only fallen by 4% year-to-date even as we enter a bear market:
L'Oréal's strong performance in the last 2 years has been driven by a structural acceleration in its earnings growth, which should continue in the medium term, as we will explain below.
Structurally Growing Market
The global beauty market has been growing consistently for at least 20 years, delivering positive growth even during