Key Takeaways:Beauty Stimulus Plan is bearing fruit, with early H2 blockbusters set to amplify momentum.All divisions posted growth, with Professional Products and Dermatological Beauty outperforming.Multiregional agility—emerging markets and China rebound offset Europe’s softness.L’Oréal posted €22.47 billion in H1 sales, up +3.0% like-for-like alongside a +30bps expansion in operating margin to 21.1%. Strong performances across divisions helped to offset economic headwinds and reaffirmed beauty market leadership.L’Oréal Group CEO Nicolas Hieronimus celebrated sequential strength. “As anticipated, L’Oréal’s like‑for‑like growth accelerated between the first and second quarter… validating our multi‑polar model. The Beauty Stimulus Plan … will become ever more impactful … with many exciting launches in H2,” he said in the company’s earnings call earlier this week.Hieronimus expressed confidence in ongoing outperformance. “I am confident that we will continue to outperform the global beauty market … and to achieve another year of growth in sales and profit.”Division Highlights: Balanced Growth Across the Board Professional Products: +6.5% like-for-like (+4.9% reported), driven by salon channel strength and launches like Kérastase’s Genesis and Redken’s Acidic Bonding Concentrate. Dermatological Beauty: +3.1% like-for-like (1.7% reported), boosted by La Roche-Posay, CeraVe, and SkinCeuticals growth. Consumer Products: +2.8% like-for-like (1.1% reported), with emerging markets leading gains Luxe: +2.0% like-for-like, despite a slight Q2 dip ahead of major fragrance launches.