Beauty brands are being tipped to join the non-fungible token (NFT) bandwagon to forge closer bonds with their most loyal customers, something that is becoming increasingly difficult to do today, according to a Web 3 expert.
International beauty major L’Oréal has reported a significant rise in full-year 2021 sales and net profit globally, with Latin America and North Asia performing particularly well and business in its Luxe and Active Cosmetics divisions leading the surge.
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Beauty major L’Oréal and luxury fashion house Prada are driving international noise around their first fragrance launch – an innovation that marks the first of many designed to build out a highly competitive global beauty brand, an executive says.
US luxury brand RéVive Skincare wants to expand its international footprint further and continue fast-paced product launches beyond North America, notably Eastern and Western Europe and the Middle East, its CEO says.
Luxury cosmetic and fragrance markets in the UK, France and Germany have all shown signs of recovery thanks to growth in e-commerce, particularly in prestige perfumes and skin care, finds The NPD Group.
Luxury British retailer Harrods has opened its first 'H Beauty' specialist store in the UK – a move set to solidify its position and long-term vision on upgrading how consumers shop for cosmetics, says an expert.
Leg care specialist Legology is expanding into Harrods’ latest luxury retail concept H Beauty – a move set to stretch the brand’s UK presence even further and contribute to wider global expansion goals.
The global luxury goods market will shrink dramatically in the face of the ongoing coronavirus (COVID-19) crisis, with significant downgrades expected in Switzerland, Germany, Italy and France, says Euromonitor International.
Spanish customers are highly loyal in luxury beauty, particularly fragrances, but there’s scope to develop business further through aspirational, value-driven branding and wider distribution, says Kantar Worldpanel.
With everyone banging on about how well positioned the personal care market is in the current economic downturn, it might be easy to imagine that the sector will have a relatively soft ride. But will it?