On the surface, $15.05 billion in sales for FY2026 tell the story of a company simply returning to growth. In reality, they reveal something deeper: the economic hierarchy of its portfolio is shifting.
Skincare remains, by far, the group's primary activity. But
Article reserved for members
The rest awaits you
Join the Luxe Daily Private Circle and gain access to the full article, complete archives and exclusive selections from our editorial team.
✦ Unlimited Articles
✦ Complete Archives
✦ Exclusive newsletter
✦ Shopping selections
✦ The most popular
Connoisseur
5€
/month
- Everything about the Reader plan
- Exclusive shopping selection
- Event invitations
Elite
10€
/month
- Everything about the Connoisseur plan
- Early access to articles
- Daily newsletter
