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Beauty’s current mood is anything but pretty.
In the last two weeks, three of the world’s biggest beauty conglomerates – Estée Lauder Companies, Shiseido and Coty – reported a drop in fourth-quarter sales. L’Oréal, the biggest of the group, reported a paltry 2.5 percent increase, missing analysts’ forecasts.
The slowdown is hitting both mass and prestige, and once white-hot brands like Cerave and Drunk Elephant as well as slipping legacy lines like Tom Ford and Shiseido’s…
