Effect Tag

Soaring inflation across the U.S. is not possible to disregard. From the gas station to the food market to the house, every a part of life is being impacted. And that’s true for the sweetness sector, too. In a slew of summer trading updates, global beauty firms cited inflation as a headwind that has caused price increases. Coty Inc., whose brands include CoverGirl, Gucci Beauty, Lancaster, Kylie Cosmetics and Skkn by Kim, implemented low-single-digit price increases in the course of the second half of fiscal ’22 and is now within the means of arranging more hikes, this time within the mid-single-digits. “That’s the way in which we're tackling this inflation,” chief executive officer Sue Nabi said in an August interview. On the Estée Lauder...