L’Oreal Taps its First Female President for the World’s Biggest Beauty Brand

June 20, 2019, 6:06 PM UTC
HBO Luxury Lounge In Honor Of 67th Annual Golden Globe Awards - Day 3
BEVERLY HILLS, CA - JANUARY 17: Products are displayed at the L'Oreal Paris suite during the HBO Luxury Lounge in honor of the 67th annual Golden Globe Awards held at the Four Seasons Hotel on January 17, 2010 in Beverly Hills, California. (Photo by Angela Weiss/Getty Images for mediaplacement)
Angela Weiss 2010 Getty Images

L’Oreal SA has named the first female president of its flagship cosmetics label, elevating Delphine Viguier-Hovasse to the top job at the world’s biggest beauty brand.

Viguier-Hovasse, who has been running the company’s Garnier unit, succeeds Pierre-Emmanuel Angeloglou as head of L’Oreal Paris. Angeloglou is taking on a new role with LVMH‘s Louis Vuitton, leading strategic missions in fashion and leather.

The move comes as L’Oreal wrestles with sluggish growth in its consumer products division, whose drugstore brands have underperformed the units selling high-end perfumes and premium skin care. L’Oreal Paris, which makes products such as True Match foundation and Revitalift wrinkle creams, is the cosmetics giant’s founding division.

Viguier-Hovasse will report to Alexis Perakis-Valat, president of L’Oreal’s consumer products division, the company said in a statement.

Even as lagging U.S. consumption and a rising interest in niche competitors dragged down growth for mass-market brands, L’Oreal Paris grew faster than the market last year and kept its crown as the world’s biggest beauty brand, L’Oreal Chief Executive Officer Jean-Paul Agon said in a presentation to investors in February.

“It’s a tougher battlefield,” Agon said of the U.S., where L’Oreal Paris has dominated drugstore shelves for years.

As consumers increasingly turn to online stores for cosmetics, L’Oreal Paris under Angeloglou staged splashy social media events, including live-streamed fashion shows.

More must-read stories from Fortune:

—Apple partners with Best Buy for repairs.

—President Trump’s China tariffs threatens U.S. bridal gown industry.

—GameStop wants to be the “Local Church” of gaming.

—It’s all clicking for Wayfair, a Fortune 500 newcomer.

—Sears’ seven decades of self-destruction.

—Listen to our new audio briefing, Fortune 500 Daily.

Follow Fortune on Flipboard to stay up-to-date on the latest news and analysis.


Read More

Great ResignationInflationSupply ChainsLeadership