- Advertisement -
The famous “Lipstick Index” theory of sales dictates that when consumers spend less on big-ticket handbags and jewellery, they’ll turn to beauty instead. By that logic, beauty should be in the midst of a boom period, considering that several major luxury players are in the midst of a historic downturn.
Not so — the most recent round of beauty earnings has shown that shoppers have their limits in this category, too.
In the third quarter of 2024, LVMH’s perfumes and cosmetics revenue…
