L’Oréal appoints Maximiliano Frenza as General Manager for L’Oréal Adria-Balkan
His expertise in managing teams and fostering business growth makes him well-suited to lead L’Oréal’s expansion in the Adriatic-Balkan region.
Adria-Balkan – L’Oréal, a French multinational personal care corporation, has named Maximiliano Frenza the new General Manager of L’Oréal Adria-Balkan.
In his new role, Frenza will oversee operations across the nine markets in the Adria-Balkan region, including Bulgaria, Croatia, Serbia, Bosnia and Herzegovina, Slovenia, Albania, North Macedonia, Kosovo, and Montenegro.
He takes over from Vanya Panayotova, who will now focus on leading the Romanian market.
According to the company, he will lead a team of more than 500 employees and manage a portfolio of over 20 popular cosmetic brands, including L’Oréal Paris, Garnier, Maybelline NY, Vichy, La Roche-Posay, Lancôme, YSL Beauty, Armani, L’Oréal Professionnel, Kérastase, and others.
Frenza brings extensive leadership experience, having started his career with L’Oréal in 1999 in Venezuela. Over the years, he has held various senior roles across Latin America, Europe, and global operations, including serving as the Global Director for NEO Hypercare, a project designed to optimize L’Oréal’s business systems.
FY24 highlights
L’Oréal demonstrated remarkable resilience and growth amidst a challenging global economy, affirming its position as a world leader in beauty.
The company achieved an impressive €43.48 billion(USD 46.91 billion) in sales, reflecting a 5.6% growth.
This success was driven mainly by the strength of its diverse portfolio of 37 global brands and its ability to innovate and adapt to changing market trends.
The company also reported an operating profit of €8.69 billion(USD 9.37 billion) and an operating margin of 20%, highlighting L’Oréal’s efficient business strategies.
This solid financial standing was complemented by an operating margin of 20%, reflecting its efficient operational strategies.
Nicolas Hieronimus, CEO at L’Oréal, stated, “2024 was a pivotal year as we laid the foundations for the next chapter in a great L’Oréal Adventure.”
E-commerce played a significant role in L’Oréal’s success, contributing €12.3 billion(USD 13.26 billion), which accounted for 28.2% of total consolidated sales, marking a 7.8% increase from the previous year.
From a regional perspective, Europe led the company’s performance with 33% of total sales, followed by North America at 27% and North Asia at 24%.
In terms of product categories, skincare remained the strongest segment, accounting for 39% of total sales, followed by makeup (19%), haircare (16%), fragrances (14%), hair coloring (8%), and other beauty essentials (4%).
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