Jamie Matusow with Joanna Cosgrove, Editor-in-Chief with Contributing Editor11.02.17
Judging by our annual research, it appears that this year’s Top 20 Global Beauty Companies may have worked harder than ever to increase sales in a competitive environment. According to L’Oréal, the global cosmetics market was worth more than $215 billion in 2016, with growth of about 4% over the previous year. While not all of our Top 20 reached their financial objectives, business remained strong despite factors such as regional political and currency uncertainties and consumers’ lack of loyalty as they pursue ever-more efficacious products that look pretty and deliver Instagram-worthy results.
In 2016, the worldwide beauty market, in general, was boosted by the strengthening of e-commerce, as well as sales in China. At The Estée Lauder Companies (ELC)—now tied at No. 3 on this year’s Top 20 list—sales of beauty products online were up 33% across the board, and accounted for 20% of total corporate sales. In China, all of ELC’s 29 brands posted double-digit growth in online sales, with e-commerce jumping by 50% over the previous year.
A Year of Buyouts
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In 2016, the worldwide beauty market, in general, was boosted by the strengthening of e-commerce, as well as sales in China. At The Estée Lauder Companies (ELC)—now tied at No. 3 on this year’s Top 20 list—sales of beauty products online were up 33% across the board, and accounted for 20% of total corporate sales. In China, all of ELC’s 29 brands posted double-digit growth in online sales, with e-commerce jumping by 50% over the previous year.
A Year of Buyouts
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