WWD Beauty Inc has released its annual ranking of the world's largest beauty companies by sales.
With sales reaching a record $245.17 billion, 2023 was a banner year for beauty.
"But the landscape shifted, and the agility and cultural relevance of the world’s leading manufacturers was tantamount to their performance," Beauty Inc reported.
"In fact, the biggest sales gainers of the year – Selena Gomez’s Rare Beauty and e.l.f. Beauty – proved that when consumers are on board, they continue to buy."
But what’s also clear from the 2023 WWD Beauty Inc Top 100, is that "as consumers in many parts of the world see their purchasing power shrink, they are more discerning than ever about how and where they spend."
Despite the challenges, the majority, more than three-fourths, of the companies in this year’s ranking saw sales increase year-over-year, 37 of them with double-digit gains.
"Of just 21 players registering sales declines, they were less vertiginous than a year ago; none of the Top 100 companies saw sales fall by more than 20%."
Total sales for all 100 companies increased 5.3% year-over-year, to $245.17 billion, a record number that is also well above 2019’s pre-pandemic sales for Top 100 companies of $227.6 billion, reported WWD.
Keep on reading to find out who took home the top spots. You can also view the list in its entirety here.
1. L'Oréal:
2023 beauty sales:
$44.53 billion
+7.6% VS. 2022
2. Unilever:
2023 beauty sales:
$26.15 billion (Est.)
+1.5% vs. 2022 (Est.)
3. The Estée Lauder Cos.:
2023 beauty sales:
$15.2 billion (Est.)
-7% vs. 2022 (Est.)
4. Procter & Gamble:
2023 beauty sales:
$15 billion (Est.)
+4.5% vs. 2022 (Est.)
5. LVMH Moët Hennessy Louis Vuitton:
2023 beauty sales:
$8.94 billion (Est.)
+7% vs. 2022 (Est.)
6. Chanel Ltd.:
2023 beauty sales:
$8.32 billion (Est.)
+15% vs. 2022 (Est.)
7. Beiersdorf:
2023 beauty sales:
$8.14 billion (Est.)
+9.6% vs. 2022 (Est.)
8. Shiseido:
2023 beauty sales:
$6.94 billion (Est.)
-8.8% vs. 2022 (Est.)
9. Natura & Co.:
2023 beauty sales:
$6.39 billion (Est.)
-12.3% vs. 2022 (Est.)
10. Coty:
2023 beauty sales:
$6 billion (Est.)
+14% vs. 2022 (Est.)
11. Bath & Body Works: $4.57 billion (Est.)
12. Kenvue: $4.4 billion (Est.)
13. Mary Kay: $4.3 billion (Est.)
14. Puig: $4.29 billion (Est.)
15. Kao Corp.: $4.22 billion (Est.)
16. Henkel: $4.08 billion (Est.)
17. Colgate-Palmolive: $3.7 billion (Est.)
18. LG H&H: $3.02 billion (Est.)
19. Amorepacific: $2.96 billion (Est.)
20. L'Occitane International S.A.: $2.64 billion (Est.)
21. Wella Co.: $2.19 billion (Est.)
22. Kosé Corp.: $2.14 billion
23. Revlon Group Holdings LLC: $2.1 billion (Est.)
24. Groupe Clarins: $2.0 billion (Est.)
25. Groupe Rocher: $1.95 billion (Est.)
26. Laboratoires Pierre Fabre: $1.70 billion (Est.)
27. Rodan + Fields: $1.59 billion (Est.)
28. Grupo Boticário: $1.58 Billion (Est.)
29. Victoria's Secret & Co.: $1.4 billion (Est.)
30. Inter Parfums Inc.: $1.32 billion
And special mention to BD members:
40. Sisley Paris: $1.01 billion
41. LUSH: $985.4 million (Est.)
80. Burt's Bees: $379 million (Est.)
82. Weleda: $371.4 million (Est.)
METHODOLOGY:
The WWD Beauty Inc Top 100 ranks the world’s largest beauty manufacturers. Firms are arranged by their beauty sales for the 2023 calendar year. For those companies whose fiscal year did not run from Jan. 1, 2023, to Dec. 31, 2023, estimates were calculated. All sales figures were either obtained from the companies or generated with the help of industry sources, indicated by (EST.) in the ranking. For this list, “beauty” includes fragrance, makeup, skin care, body care, sun care, hair care, deodorant, plus cellulite and shaving products. It does not take into account bar soaps, razors, toothpastes, food and diet foods, medicines, vitamins, detergents or appliances. The revenues only include sales of beauty products each firm manufactures and do not include business from private-label lines or products distributed for other companies. Information in the main brands section reflects each company’s holdings in 2023. Year-on-year percentage changes are in reported terms, not on a like-for-like or constant-currency basis. Non-U.S.-based firms’ sales are converted into dollars according to the 2023 average yearly exchange rate. You can find more information here.
Image source: WWD Beauty Inc
