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The Herald Scotland
an hour ago
- Business
- The Herald Scotland
Cost of living crisis? At least buying make up makes us feel better
The majority of my 30 years have been spent poring over the lotions and potions that will ensure my eight-pound skin sack has the best time on this little blue rock. Not because being blemish-free, dewy, radiant and taut is the only way to matter in this world. But because the fountain of youth implies an endless flow of time. 'Traditionally, skin care represents an attempt to deny the inevitability of the future,' Jia Tolentino wrote in her 2017 essay for the New Yorker. 'For me, right now, it functions as part of a basic dream in which the future simply exists.' Read more House hunters are flocking to this previously unfashionable Scottish commuter town 'Death by a thousand cuts': Cluttered Edinburgh streetscapes threaten heritage status Build skyscrapers as tall as you want, just please stop building eyesores Would you ask ChatGPT for dating advice? I did. Here is what it said I might never be able to afford property, and even if I did, there's every chance some climate change-derived natural disaster will just destroy it anyway, assuming the boys in charge haven't nuked us all yet. I wince at the cost of electricity, broadband and the weekly food shop. Don't even get me started on the price of a pint of Tennent's these days. But £40 for a tiny tub of cream to slather on my face? I wouldn't bat an eyelid. A pencil to define some part of my facial anatomy for £25? Sold. It used to be called the Lipstick Index. In the early 2000s, Leonard Lauder (then chairman) of Estée Lauder, noticed that sales of the brand's lipstick spiked after 9/11 and the 2001 recession. The head of the beauty behemoth put it down to consumers seeking comfort in small luxuries during tough times. This recession indicator has morphed over the last 24 years as consumer habits change. But I still think it rings true that for many, indulging in skincare and beauty during tough financial times is one of those small kindnesses you allow yourself when your pay check drops at the end of the month. Over the past year, Glasgow has been at the forefront of a surge of store expansions in the health and beauty sector, indicating others like me might feel the same about spending on these little luxuries. NARS is the latest retailer to open a flagship on Buchanan Street, following MAC Cosmetics and Charlotte Tilbury. Space NK has expanded its shop in Princes Square. In 2024, health and beauty spend was up 8% across the 100+ UK shopping centres Savills manages. In 2025, spending on pharmacy, health and beauty had its strongest growth in almost three years, according to Barclaycard Spend data, rising by 10.7% in January. I don't agree with the narrative that taking an interest in make up and skincare is vapid. Your skin is the largest organ in your body, and it does deserve love, even if that just means slathering on some SPF in the morning. But more than that, taking care of one's appearance is not a bad thing (and means something different to everyone). For me, it just involves the generic trappings of millennial womanhood. I've learned a lot about chemistry in the pursuit of perfect skin. Applying various serums, creams, essences, and gels each morning and night makes me feel like a mad scientist. And there's an art to it all as well. H Beauty in Glasgow's Silverburn shopping centre (Image: free) I must have more paint brushes than Picasso, I think, as I swirl each one across my cheeks, forehead, and chin in various stages of blending and colouring before heading into the office. Those nifty pencils that cost more than a main dish at The Ivy are next, tracing and highlighting features to make them 'pop'. The ritual is my form of mindfulness and meditation. A little mask to protect me from the world. I realise it's a little ridiculous, and I am by no means very good at applying make up. But it does brighten up my mood most of the time. Inside the new H Beauty shop, by far the most impressive retail space for beauty in the city at the moment, rows of light pink and chrome shelves are lit like altars. I'm giddy with excitement, navigating the seemingly endless product displays, dabbing various concoctions on the backs of my hands and sniffing perfumes until my septum burns. Sucked in by the allure of buying a lipstick, I let an ethereal blonde sales assistant help me find the perfect shade of glowy lip oil. This, I think, will be the perfect little treat. I smack my pout together, neatly coated in an oily mahogany sheen. I'm gearing up to swipe my card, palms sweaty, until I realise this beautiful 6mL filled with all that dazzling shine is actually £33. I sadly shake my head and sulk away. Not in this economy. I'll be back when I'm ready to allow a big kindness for myself. Marissa MacWhirter is a columnist and feature writer at The Herald, and the editor of The Glasgow Wrap. The newsletter is curated between 5-7am each morning, bringing the best of local news to your inbox each morning without ads, clickbait, or hyperbole. Oh, and it's free. She can be found on X @marissaamayy1
Time of India
02-05-2025
- Business
- Time of India
Can Fashion Trends Predict Economic Recessions?
Following US President 's announcement of broad and steep tariffs in April, many fear that the world economy might slip into a recession. Amid the apprehensions, terms like ' lipstick index ' and 'longer hemline' have caught a lot of attention. Tired of too many ads? go ad free now Several beauty & fashion trends are often linked to predicting recessions, though experts caution they're more soft signals than reliable measures. Lipstick index The term was first coined in 2001 during the global recession by Leonard Lauder, former chairman of Estée Lauder. Lauder noticed that despite the financial crunch and people cutting back on spending, cosmetic sales, especially lipsticks, were rising. The term refers to how, during financial crises, people ditch big splurges and find satisfaction in purchasing smaller, more affordable luxuries like lipstick. Mascara index Similar to the lipstick index, the mascara index suggests that during economic downturns, sales of mascara (and eye makeup in general) go up. This became especially noticeable during the Covid-19 pandemic, when masks covered lips, and people focused more on eye makeup. Nail polish index Another offshoot of the lipstick index, the nail polish index proposes that during tough economic times, consumers turn to buying nail polish instead of bigger luxury items — it's an affordable treat that offers a little sense of indulgence without breaking the bank. Recession hair Coined in 2009 as a result of a stock market crash in 2008, this term refers to foregoing expensive haircut and styling appointments. Now, in 2025, TikTok users have renamed the trend as recession blonde or recession brunette. It refers to low-maintenance, natural-looking hair colour that's affordable to maintain, perfect for times when people are cutting back on spending. The Brunette Index is a playful, less formal economic theory suggesting that during tough times, people are likely to dye their hair darker. Tired of too many ads? go ad free now Longer hemline A theory created by economist George Taylor in 1926 suggests that the length of a hemline closely relates to how well the economy is doing. Shorter hemlines indicate a thriving economy, while longer hemlines hint towards a poorly performing economy. The rise of corp core Corporate wear, now rebranded as 'Corp Core,' is taking over runways and wardrobes. Some claim the return of power dressing – sharp tailoring, structured blazers, and business chic – reflect a deeper cultural response to financial uncertainty. The rise of the corp core may be the latest indicator of recession fears. With hiring freezes, layoffs, and rising inflation, professionals are increasingly dressing to project authority and job security. Men's underwear index The Men's Underwear Index is another quirky economic indicator proposed by Leonard Lauder. It suggests that when the economy is doing well, men tend to buy more expensive, higher-quality underwear. On the other hand, during economic downturns, sales of men's underwear – particularly luxury or higher-end brands – decrease as people opt for more budget-friendly options. The idea behind it is that underwear, being a relatively private and personal purchase, is one of the first areas where men make adjustments when their discretionary spending is limited. — Compiled by Aakanksha Ahire
Reuters
25-04-2025
- Business
- Reuters
Tariff turmoil puts premium on economic oddities
NEW YORK, April 25 (Reuters Breakingviews) - Erratic times call for quirky economic indicators. The White House's helter-skelter trade policy and U.S. government shakeup are making some of the conventional metrics tracked by investors less useful. In past crises, oddities like the Baltic Dry Index and coronavirus infection rates proved to be useful, but each era requires its own dashboard. This one is revisiting underwear and lipstick while adding rush-hour traffic and Canadian tourists. Central bankers and money managers have periodically studied everything from hemlines to Big Macs alongside unemployment and GDP growth to seek an edge in understanding economic trends. This week, the aviation industry attracted attention far beyond the usual plane-spotters. American Airlines (AAL.O), opens new tab and Alaska Air (ALK.N), opens new tab warned of softening travel, helping corroborate daily, opens new tab U.S. Transportation Security Administration updates on airport security figures. Extra insights come from various travel warnings following U.S. visitor detentions and declining numbers of Canadians driving home from their southerly neighbor. Real-time monitoring of metropolitan congestion tells another part of the story. During a recession, fewer people take cars to work and speed up trips for those who do. At peak times in places like Houston, opens new tab and Chicago, however, roads remain more clogged than usual, according to mapping technology developer TomTom. Similarly, a job postings barometer, opens new tab from Indeed indicates a slowdown, but nothing severe. And the Waste Paper Composite Index, opens new tab doesn't show signs of strain on the recycled paper market that often portend an economic slump. Google Trends, which tracks what users are exploring, has potentially more ominous results. Inquiries for 'recession' are rising fast, but even more alarming is the growing hunt for ' supply chain, opens new tab.' It's the sort of term typically reserved for logistics mangers and investing wonks, and the only time there was more web searches on the subject was October 2021. Then, ports were clogged with goods when an ebbing Covid-19 ignited trade and economic activity. Today's trade wars might have the opposite effect. Two popular alternative data points are also back in vogue. Women have spent more on makeup during hard times since the Great Depression, opens new tab, even as they save money elsewhere. Cosmetics magnate Leonard Lauder coined the 'lipstick index' to crystallize the idea that cheap luxuries make people feel better. The pandemic proved an exception because of the protective masks everyone was wearing, but it should be a reliable gauge again. Boxers and briefs can hold economic crystal balls, too, and were a targeted sales measure watched closely by former Federal Reserve Chairman Alan Greenspan. When times get tough, men are more inclined to make do with threadbare skivvies. To better understand unconventional cycles, it pays to look in strange places. For more insights like these, click here, opens new tab to try Breakingviews for free. Editing by Jeffrey Goldfarb and Pranav Kiran Breakingviews Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and at All opinions expressed are those of the authors.
Associated Press
26-03-2025
- Business
- Associated Press
Neiman Marcus and The Estée Lauder Companies Host a Series of Experiential Brand Activations in Honor of Leonard A. Lauder's Award
The Luxury Retailer Celebrates the Chairman Emeritus' Neiman Marcus Award and the longstanding relationship between the two companies DALLAS, March 26, 2025 /PRNewswire/ -- Neiman Marcus, a Saks Global luxury retailer, is hosting a series of multi-faceted customer events in partnership with The Estée Lauder Companies (ELC), honoring Leonard A. Lauder's Neiman Marcus Award for Distinguished Service in the Field of Fashion, announced in November, which celebrates his extraordinary contributions to the beauty industry. In-store activations feature curated product integrations from ELC's esteemed brands and forthcoming, immersive retail-tainment experiences across the country. Honoring a decades-long partnership between the luxury retailer and ELC, the brand experiences honor their shared history and collaboration, inviting customers to engage in this landmark moment. 'Leonard Lauder is an extraordinary leader and brand partner whose vision helped shape The Estée Lauder Companies into a beauty powerhouse and furthermore, the beauty industry into what it is today,' said Paolo Riva, Chief Brand Partnerships and Buying Officer, Saks Global. 'Through the Neiman Marcus Awards, we are proud to bring the company's best-in-class brands and products to our customers not only through their innovative offerings, but also through incredible immersive events that celebrate Leonard's achievements.' In Dallas, customers will mark the occasion with a lively dinner at Neiman Marcus' NorthPark store, bringing the excitement of the Neiman Marcus Awards to esteemed clients. Hosted by Tatiana Birkelund, VP, GBM, Beauty, Jewelry, Home at Neiman Marcus and Kendal Ascher, SVP, ELC North America Luxury Portfolio & GM, La Mer North America, the evening will showcase the best-selling products from a curated selection of ELC brands. La Mer will take center stage and Tom Ford Beauty will bring a touch of excitement and sophistication, while Editions de Parfums Frederic Malle will deliver unparalleled distinction. Guests will take home best-selling products from select ELC brands including Jo Malone London, Estée Lauder and Killian Paris, enhancing the evening with an additional layer of luxury and refinement. 'Neiman Marcus is one of the most iconic luxury retailers in the world and a legacy partner for The Estee Lauder Companies,' said Kendal Ascher, SVP and General Manager, La Mer & ELC Luxury Brands Group. North America. 'As Leonard Lauder, Chairman Emeritus, ELC, is this year's recipient of the Neiman Marcus Award, we are honored to celebrate him by bringing our luxe brands to life in unique and compelling activations across the country and celebrate our beloved clients.' Customers can also participate in the festivities through an ELC passport activity, which encourages them to experience their favorite brands in a new way. Events include runway presentations, spa experiences, customization experiences and masterclasses. Each event uniquely expresses ELC and Neiman Marcus' joint commitment to delivering unparalleled luxury service to customers. These experiences will be available at the Houston, Fashion Island, Tysons, Palo Alto, San Francisco, Atlanta, Los Angeles, Denver, Michigan Avenue, Orlando and Troy stores. The Neiman Marcus Awards have honored excellence in the luxury industry since 1938. The program celebrates brand partners who share an interest in the retailer's innovative approach to retail to delight the U.S. luxury customer. Mr. Lauder is an industry pioneer whose vision and leadership have shaped the beauty landscape for generations, an honor reserved for trailblazers who have left an indelible mark on the luxury industry. This prestigious honor was previously given to Leonard Lauder's mother, Mrs. Estée Lauder, in 1962. He joins the esteemed ranks of more than 150 luminaries recognized for their contributions to the industry. As a leader in the beauty space, Neiman Marcus offers customers an elevated selection of ELC brands including AERIN Beauty, Balmain Beauty, Bobbi Brown, Editions de Parfum Frederic Malle, Estée Lauder, Jo Malone London, Kilian Paris, La Mer and Tom Ford, that can be explored across all stores, online and through remote selling. #neimanmarcus | #neimanmarcusawards | @neimanmarcus | @esteelaudercompanies ABOUT NEIMAN MARCUS: Neiman Marcus is a leading luxury retailer that provides a curated product assortment, unparalleled services, and exclusive activations for customers in Pursuit of the Extraordinary. It is known for creating the Neiman Marcus magic through exceptional customer experiences including the Neiman Marcus Awards, Fantasy Gifts, seasonal campaigns and retail-tainment initiatives. Neiman Marcus has a rich history as a brand builder, bringing together the world's top luxury designers and customers to foster a dedicated following for generations. It serves customers across its 36 stores, digital channels and through remote selling. It is part of Saks Global's portfolio of world-class luxury retailers and real estate assets. For more information on the latest news and events at Neiman Marcus, visit or follow the brand on Instagram and YouTube. ABOUT SAKS GLOBAL: Saks Global is a combination of world-class luxury retailers, including Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH, as well as a portfolio of prime U.S. real estate holdings and investments. Saks Global is deeply committed to helping luxury consumers discover the most sought-after established and emerging brands from around the world. Powered by data-driven technology and centered on the customer, Saks Global is on a mission to redefine the luxury shopping experience through highly personalized service, with greater opportunities for product discovery across all channels. ABOUT THE ESTÉE LAUDER COMPANIES INC.: The Estée Lauder Companies Inc. is one of the world's leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company's products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M•A•C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.
Telegraph
23-03-2025
- Lifestyle
- Telegraph
These refillable lipsticks are the new future heirlooms
One of the biggest trends in make-up for spring/summer is the refillable lipstick, and all the top labels are offering their own take. From Lisa Eldridge, By Terry and Guerlain to Chanel, Dior and Hermès, investing in a high-quality case concealing a beautiful bullet of colour is the most stylish way to update your routine right now. Undoubtedly the push for sustainability, which has become increasingly important in the beauty industry in the past few years, is driving part of the appeal – but there's more to it than that, including the 'lipstick index' – a term coined by Estée Lauder's Leonard Lauder, who theorised that lipstick sales go up during financially turbulent times because we need a relatively inexpensive injection of joy. I'd also argue that in politically uncertain climates (such as ours), we covet comforting possessions that last; beautiful items we can hold on to; something to cherish and pass down (or up) to the next generation. For years the classic heirloom, gifted from parent to offspring, was a watch. Increasingly, as beauty moves away from its transient and disposable nature, I think we're going to see these types of objects (which, like watches, can also be engraved) being handed down. As the proud owner of a tiny Estée Lauder powder compact that used to belong to my late grandmother, maybe I would say that. But I love that every time I use it, I'm reminded of her. Alongside the emotional aspect, there's also a very physical presence to the compact that gives it a sense of permanence: it feels weighty in your hand; it gives a satisfying click when you close it. The new refillable lipsticks are similarly designed for longevity – created to outlast not just a season or two, but several generations. Terry de Gunzburg, of By Terry, says she too bonded with her grandmother over beauty, eventually designing By Terry's refillable lipstick, Rouge Opulent, £49 in honour of their shared passion. By Terry Rouge Opulent Lipstick, £49 'During my childhood, I had the privilege of being surrounded by my grandmother's beautiful collection of precious cosmetic objects,' she says, recalling 'a Cartier refillable compact case, a Van Cleef jewelled lipstick case adorned with sapphires and rubies, a gold mesh powder case, and lipstick. My mother cherished these treasures and passed them down to me. They are like family heirlooms, shaping my style and my vision of ultimate sustainable luxury.' Dior Rouge Premier Refillable Haute Couture Lipstick, £555 with refill This sense of heritage is reflected in the press materials for Dior's Rouge Premier lipstick, £555, a ceramic and 18ct gold case decorated with the toile de Jouy pattern Christian Dior chose for the walls of the first Dior boutique. '[It is] designed to last […] to be kept carefully over the years, following the tradition of valuable objects handed down from one generation to the next, like a legacy.' Chanel 31Le Rouge Satin Lipstick, £145 Similarly Chanel's 31 Le Rouge lipstick, £145 features a glass case, intended to echo the mirrored staircase in Coco Chanel's apartment, with two gold-coloured metal rings, described as being 'like two wedding bands that seal the precious union between the present and future.' Guerlain, arguably the pioneers of the trend having launched the first refillable lipstick in 1870, last year relaunched their Rouge G collection of cases, £67 with a hidden mirror, saying they are 'intended to be refilled, kept and passed on.' Guerlain Rouge G The Customisable Ultra-care Lipstick, £67 And, perhaps inevitably for items designed to be kept, the craftsmanship is jaw-dropping. Chanel spent four years trying to work out how you could make a glass case durable, and used a master glassmaker from Japan to design it. While Dior spent five years working with a Limoges-based porcelain company to create their ceramic case. For Lisa Eldridge, a long-time collector of vintage make-up, the desire was to create something covetable with genuinely sustainable credentials. The result is Rouge Experience, £49, a world-first with refills made entirely from aluminium — no plastic — so they can be easily and infinitely recycled. Lisa Eldridge Rouge Experience Refillable Lipstick, £49 'After years of collecting and studying beauty history my ultimate goal was to add something significant,' says Eldridge. ' And this uniquely beautiful object combines cutting edge futurism with old world charm.' Her design — like so many of the refillable lipsticks — has a timeless feel to it. And, while some of the cases have very distinguishing features (the Dior toile de Jouy is unmistakeable, and those in the know would clock those Hermes stripes at 20 paces) most don't scream their brand name at you. Hermes Rouge Amazone Engraved Limited Edition Lipstick, £66 In the same way that the most exclusive watches aren't instantly recognisable, these are beautiful, enduring objects given a twist by virtue of having a component that can be swapped according to the mood or style of the owner. So while your mother might have been a satin coral type, when you inherit her lipstick case, you can bespoke it with your own signature shade. Pierre Hardy who designed the Hermes case, said of it: 'Intuitively, to become timeless, this object had to be able to morph, remain iconic, but stay fluid, be part of a connected sequence, and perpetually recognisable. A constant yet ever-changing object.' It's that sort of individuality that makes them the ultimate status symbol, the very epitome of stealth luxury. And, in a world where everything seems so fast-paced and disposable, the elevation of such an everyday object to something that manages to combine tradition with modernity is a joy — to give, and to receive.
