Beiersdorf, the parent company of Nivea and luxury French skincare brand La Prairie and other skincare brands, has reported a robust start to fiscal 2024 with an impressive 7.3 per cent increase in group sales, reaching €2.6 billion ($4.3 billion). The growth was predominantly led by the Consumer Business Segment, which saw a 10 per cent rise in organic sales to €2.2 billion ($3.65 billion). Nivea, in particular, demonstrated outstanding performance with a 12.6 per cent increase, marking its best quarter ever in terms of sales value.
Vincent Warnery, CEO of Beiersdorf, stated that all main consumer brands, including Nivea, experienced growth, especially in Europe and emerging markets. The company’s derma brands, including Eucerin and Aquaphor, also enjoyed a solid double-digit growth of 10.2 per cent, with Eucerin’s sun care business excelling in Europe and making strides in the US face care market.
“Nivea achieved its best quarter ever in terms of absolute value in Q1,” he said. “This underlines the enduring global popularity of our icon. At the same time, our Derma business contributed solid double-digit growth, and the luxury business is on its way toward the expected full turnaround after a challenging year 2023.”
Despite a challenging 2023, the luxury brand La Prairie showed signs of recovery with a modest growth of 1 per cent, as it begins to overcome the previous year’s market challenges.
Driven by these strong results, Beiersdorf has raised its sales forecast for 2024, now expecting an organic sales growth between 6 per cent and 8 per cent. This upbeat outlook reflects the company’s confidence in its continued profitable growth and the enduring global appeal of its flagship products.
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