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.
L’Oréal has reported its strongest sales growth in a decade, with Luxe and Active cosmetics surging significantly and e-commerce growing ‘spectacularly’, according to its CEO and chairman.
As times change and consumers expect more from their products, emotional engagement is becoming the dominant driver of purchase decisions and brand loyalty.
AlpVision says it has launched a new technology on the market aimed
at tackling the problem of counterfeited cosmetics and fragrances.
A particular challenge for luxury cosmetics makers, counterfeiting
is estimated to cost the industry...
