Excluding the impact of Asian travel retail, L’Oréal Group’s quarterly growth in 2025 improved by one percentage point sequentially each quarter, demonstrating continued resilience.

This also marks the first time Hermès’ annual revenue has exceeded EUR 16 billion, with a compound annual growth rate of 12.7% over the past decade.

The Chief Executive Officer emphasised, “We have achieved market share gains across all four major categories in the Chinese Mainland market for four consecutive quarters.”

Driven by strong consumer demand, the Chinese Mainland market became the largest contributor to growth this quarter.

Global net new customers exceeded 3.7 million, with the number of Generation Z consumers increasing significantly year on year.

In the previous quarter, the group’s net revenue rose 12% year on year to USD 2.4 billion, exceeding expectations.

In the fourth quarter, the DTC channel achieved positive growth in South Korea, the Chinese Mainland, and Southeast Asia.

LVMH Group and the Miller family will participate in a capital increase of China Duty Free Group by subscribing to newly issued H shares in Hong Kong.

The Chinese market confirmed its excellent state of health, maintaining significant double-digit growth in every quarter.

Fast Retailing has raised its full-year forecast for fiscal year 2026.