Estee Lauder suffers as lockdowns and face masks hammer sales of lipstick and lipgloss
Estee Lauder continues to be being battered by lockdowns, as lacklustre demand for cosmetics stifled the make-up business’s sales.
Demand for make-up was weak, it defined, as customers have been caught at residence throughout Covid lockdowns – and once they have left the home, face masks have eradicated the purpose of carrying lipstick or lip gloss.
One vibrant spot for the company – which additionally owns the La Mer, Jo Malone London, Clinique, and Tom Ford Beauty manufacturers – was China, which has recovered extra rapidly from the pandemic.
Estee Lauder which counts Bond lady Ana de Armas (pictured) as the face of its flagship model, stated demand for make-up was weak as customers have been caught at residence throughout lockdowns
Sales at Estee Lauder’s make-up division fell 11 per cent to £730million.
Across the group, Estee Lauder reported sales of £2.8billion in the primary three months of this year, up 16 per cent on the identical time final year.
But the figures had been under expectations. Estee Lauder, which counts Bond lady Ana de Armas as the face of its flagship model, had been shopping for extra skincare companies as it seen lotions and serums had been turning into more and more fashionable.
Chief govt Fabrizio Freda stated he anticipated ‘the momentum in our sales growth to build’ over the subsequent three months.