How deep has the China crisis hit beauty companies? While it's somewhat of an uneven picture, there’s remarkable resilience from the beauty market overall.
Last week, LVMH, the parent company of Benefit Cosmetics and Dior, released Q3 revenues: its Perfumes & Cosmetics revenues increased to €1,102m compared with €1065m and €1094m in the previous two quarters, and there was 7% organic revenue growth across the first nine months in total. But the outlook was less happy for LVMH's other brand categories such as fashion; Louis Vuitton is responsible for the majority of LVMH’s profits but, as spending growth in Asia fell away, this had an impact on sales.
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