Fresh off a year of record profits, L’Oréal is aiming squarely at fueling up its business for growth in travel retail.

Calling travel retail a “sixth continent” with its own borders, L’Oréal said it has created a new organization, Directorate General Travel Retail Group, to integrate more of its brands into travel retail distribution. Once a bastion of luxury products, L’Oréal said middle class consumers from developing countries are taking to the air and transforming the market. Its mass market brand, L’Oréal Paris, has already successfully been introduced on a limited basis to the channel and expansion is being “fast tracked,” said Barbara Lavernos, director, travel retail group for L’Oréal. More Body Shop points-of-sale are also on the horizon.

The travel retail market is expected to double in the next 10 years and beauty, currently at 25% of total sales, is its largest category, said Barbara. L’Oréal is currently the market leader with a 20% dollar share. The channel is ideal for “brand development and visibility,” she added. L’Oréal CEO Jean-Paul Agon called it, “one of the major market developments of the 21st century” that will become “a competitive edge for L’Oréal.”

For 2013, L’Oréal reported revenue growth of 2.3% to $31.34 billion, or an increase of 6% in constant currency and growth of 5% like for like. Net profit rose 3.2% to $4.25 billion, with earnings per share up 4.4% to $6.95, a company record. For the quarter, total company sales rose 0.6% to $7.85 billion, or 5.4% like for like.

Active cosmetics and luxury were L’Oréal’s best performing segments. A repositioning of Vichy into a premium health and beauty brand with upgraded packaging and store merchandising restored growth. Within L’Oréal Luxe, there was strong growth from Kiehl’s, Urban Decay and Clarisonic across regions, with Urban Decay up a “breathtaking” 42% said Jean-Paul. Fragrance highlights included Lancome La Vie Est Belle and Giorgio Armani Si, while Armani’s makeup business jumped 30%. There will be more emphasis on color across all brands in 2014.

From the Consumer Products Division, L’Oréal Paris Advanced Haircare and Garnier Olia hair color were standouts in the U.S. Now being introduced is L’Oréal Paris Elvive Fibrology, a hair thickening collection.

By region in 2013, Western European grew 1.1% to $10.2 billion, or 1.9% like for like; North America rose 2.8% to $7.29 billion, or 3.8% like for like and emerging markets rose 3.3% to $11.55 billion or 9.4% like for like.

L’Oréal also announced it is swapping its 50% ownership in Galderma plus cash, to regain 48.5 million shares of its own stock from food giant Nestle SA. Galderma had been a joint venture between the two, which Nestle will now operate. As a result, Nestle’s ownership in L’Oreal will fall to 23.3 percent from 29.4 percent.