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Demand For Beauty Products Rises
Description
As inflation batters the retail industry, demand for beauty products is still seeing high demand from shoppers who are willing to pay for cosmetics and fragrances. Sales of mass-market cosmetics grew more than 5 percent in the quarter that ended June 30th. Coty, one of the world’s largest beauty companies in the world, grew 9 percent in the quarter ending September 30th. E.l.f. Beauty Inc. ($ELF@US), which sells low-cost but trendy makeup, reported a 33 percent gain last quarter, and sales for L’Oréal SA rose 9 percent. Analysts say beauty products are a luxury most people can afford even on a tight budget.
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