An under-pressure Russian ruble is not deterring beauty spending for many Russian consumers, if the latest sales results from Beiersdorf and Henkel are anything to go by.
The Nivea and Schwarzkopf shampoo makers have both claimed robust sales strength in Russia for the last quarter. "For months we have been expecting that it would get difficult in Russia, but in fact we are doing better than ever," Beiersdorf CEO Stefan Heidenreich reportedly said in a conference call.
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