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One of the world’s biggest beauty companies is reportedly mulling a sale of itself.
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After years of double-digit growth and a perception of being impervious to wider economic downturns, the beauty industry is finding that cash-strapped customers aren’t interested in “little luxuries.”
Hairdressers and aestheticians report clients are opting for less expensive services and stretching out the time between appointments, according to a Bloomberg report.
The American cosmetics giant's share price surged 13 percent following a report in Women's Wear Daily that the company is considering selling its luxury and consumer divisions as separate units.
Daniela Morosini is Senior Beauty Correspondent and Special Projects Editor at The Business of Beauty at BoF. She covers the global beauty industry, with an interest in how companies go to market and overcome hurdles.
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