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...
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