Latest news with #LipstickIndex
The Herald Scotland
3 days 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
Business of Fashion
03-06-2025
- Business
- Business of Fashion
How Niche Perfumers Pay to Win
While the greater beauty slowdown may be bringing about the end of the Lipstick Index, perhaps it's led to the emergence of a different product as an economic indicator: Fragrance. Sales in the category rose 4 percent in the prestige channel and 8 percent in the mass market in the first quarter of 2025, according to intelligence firm Circana. And while body mists and designer scents are driving the mass category, it's niche fragrances that are keeping prestige sales afloat. A recent NielsenIQ report saw indie brands claim 23 percent of overall fragrance sales, with its 34 percent year-over-year growth outpacing the overall category, driven by demand for esoteric and expensive new perfumes popularized on social media, especially TikTok. Its perception as an affordable luxury buy, and one that helps buyers express their individuality, has contributed to their rise. The indies have been growing 'exponentially,' said Linda Levy, president of the Fragrance Foundation. 'They're often on a level playing field with big brands in direct-to-consumer storytelling and engagement.' That success has brought more competition from perfumery's traditional players — and their deeper pockets. Indies have to walk a tightrope to survive: they must follow Big Perfumery's business blueprint, but are also expected to provide elevated quality with surprising compositions and precious ingredients. Benoît Verdier, co-founder of perfume house Ex Nihilo, previously told The Business of Beauty that their competition was 'the big guys', referring to conglomerates like Estée Lauder, LVMH and Puig. 'If we want to compete against them, we need power.' ADVERTISEMENT To stay ahead, and to ensure their offerings remain singular, they're investing heavily in various corners of their businesses — in their perfumers, in their retail spaces and in their juices themselves. Omani fragrance house Amouage, recently backed by L'Oréal, lavishes both time and money on its perfumes, with long maturation times and potent ingredient concentrations. (Amouage) For perfume houses like Marc-Antoine Barrois, Kriger and Amouage, these investments are crucial to justifying their lofty prices, starting at around $160 per ounce. And their pay-to-win strategies are working. In 2024, the Oman-based Amouage recorded 30 percent growth, and annual retail sales now exceed $260 million, a figure that's more than doubled in the last three years. Marc-Antoine Barrois, headquartered in France, did nearly $70 million in retail sales in 2024, and is projected to grow to $100 million in 2025, its eponymous founder and artistic director told The Business of Beauty. Many indies have been scooped up by private equity firms: In 2024, D.S. & Durga was acquired by private equity firm Manzanita Capital, and L'Oréal purchased a stake in Amouage the same year. But even after a cash infusion, niche perfumers have to work to maintain their credibility. D.S. & Durga Co-founder Kavi Moltz told BoF that, post-acquisition, 'we're now spending more time on the creations and our community.' A Fine Balance It can be challenging to decide to divert precious resources to a superior — and eye-poppingly expensive — quality of jasmine, when more pressing areas like escalating supply chain costs, inflated MOQs and viable distribution channels need cash infusions. But for many niche perfumers, passion supersedes profit. One universal touchpoint is destination retail spaces that manifest slower, immersive and meaningful storytelling experiences. Chief executive Marco Parsiegla said that Amouage's boutiques are 'both commercially impactful and creatively essential' and have turned a profit more quickly than anticipated. Standalone retail spaces can be costly, but they have more profit potential than wholesale, allowing for greater consumer engagement, explains Paul Austin, founder of fragrance and branding agency Austin Advisory Group, and co-creator of LilaNur Parfums. Many niche perfumers have a mix of both: Amouage is stocked at over 1,000 department stores and fragrance boutiques worldwide, in addition to its 12 standalone boutiques. Same for Barrois, whose relatively modest offering of seven perfume SKUs sustains three standalone boutiques. 'I wanted my stores to be a place where people can escape their reality,' Marc-Antoine Barrois said. Krigler keeps supply rarified, setting up jewel-box-like spaces in the most exclusive hotels and never exceeding one door per city. Its Parisian outpost opened in December last year at The Peninsula Paris, at a cost of $2 million, counting the value of archival trunks and Baccarat crystal decanters on display. The rent for the 320 square foot space is almost in the six figures in euros, said a source with knowledge of the brand's business. ADVERTISEMENT That level of spend is worth it to fifth-generation owner Ben Krigler because it allows them to connect with high-spending clients. On opening day, a Qatari royal cleaned out their inventory, buying limited edition flaçons and every bottle of an exclusive collection including the testers, each worth $1,700. Her shopping spree brought in €100,000 ($114,000). 'A big portion of the store was empty,' said Krigler, who had to fly in employees from other stores with suitcases full of perfume the next day. Then it comes down to the juice itself. Fragrance houses spend lavishly on marquee name perfumers, who then go on to spend lavishly on ingredients. Barrois uses Quentin Bisch, a Givaudan perfumer known for Good Girl by Carolina Herrera and Parfums de Marly's Delina series. 'We have no limits on Quentin's time or on the ingredients we put in,' Barrois said. 'I don't know what it costs exactly and don't want to.' Bisch's scents, Ganymede and Tilia, are hits for the brand, together accounting for over 60 percent of sales. Perfumer and couturier Marc-Antoine Barrois, foreground, with his perfumer of choice, Quentin Bisch. 'We have no limits on Quentin's time or on the ingredients we put in,' Barrois said. 'I don't know what it costs exactly and don't want to.' (Jérôme Emeriau) Cash is not the only currency spent on niche fragrances, which often need time to mature. Amouage's approach to the aging process makes liberal use of both, which chief creative officer Renaud Salmon said is a non-negotiable part of their process: 'It unlocks the full potential of the perfume… bringing out complexity that would be impossible otherwise.' Each formula is evaluated to define the right maturation time. Since this step ties up working capital by requiring storage space, and results in inventory remaining unsold for months, it pushes up the cost of the perfume, as does Amouage's propensity to offer higher concentrations of fragrance concentrate than most houses, with some going up to 30 percent or more. 'From my experience creating for other luxury brands, this number is at least ten times higher than what is typically allowed,' Salmon said. Krigler's fragrances, too, start at 25 percent concentration, and can go up to 45 percent. Maturation time is a minimum of 18 months. Back to Basics These might seem like insurmountable costs to bootstrapped brands, which niche perfumeries often are. While Amouage is backed by L'Oréal, both Krigler and Marc Antoine Barrois remain family-owned. ADVERTISEMENT Barrois started in 2016 with a few thousand euros and invested everything he earned into the business. Early on, he rented out his apartment on Airbnb and funneled that into the company, too. But his first scent, B683, was so well-received that inventory he thought would last ten years sold in less than two months. That hustle and high comes with indie territory. And like Barrois, if nothing else, brands can leverage niche perfumery's founding principle: focus on product above all else. Veronique Gabai, founder and CEO of her eponymous brand, and former global president of the fragrance division of the Estée Lauder Companies, explains that indie perfumery's very origin was in disruption. 'Niche perfumes were born out of a reaction to the overtly marketed product that the fragrance industry was 20 or 25 years ago,' she said, citing the example of Frederic Malle. 'The purpose… was to go back to the quality of the juice, time spent on craftsmanship, and collaboration with perfumers.' Gabai welcomes brands renewed focus on what's always been at the heart of the niche perfumery ethos: The juice itself. Investment in the fragrance product is not just investment, but 'the very core of the strategy,' Gabai said. 'Niche isn't about marketing, imagery, or a big name and face. It's about creating a product that enchants, surprises and evokes important emotional reactions from people.' Sign up toThe Business of Beauty newsletter, your complimentary, must-read source for the day's most important beauty and wellness news and analysis.
Yahoo
25-04-2025
- Business
- Yahoo
Running on Ice: UPS makes another play in the health care space
UPS continues its expansion in the health care industry, most recently with plans to acquire Andlauer Healthcare Group, a Canada-based cold chain logistics company. The acquisition was a casual $1.6 billion all-cash transaction. It is part of UPS' plan to double revenue in health care logistics to $20 billion by 2026. In a news release, Kate Gutmann, president of international, health care and supply chain solutions for UPS, said: 'Next-generation treatments are driving more complexity than ever, expanding the needs of healthcare customers and increasing demand for the integrated, end-to-end cold chain solutions UPS Healthcare provides around the world.' The acquisition is expected to be finalized in the back half of 2025 but is still subject to approval by AHG's shareholders and regulators. The buyout for shareholders is CA$55 (about $40) per share, roughly a 30% premium to closing stock prices on the day the deal was announced. Eric Kulisch writes for FreightWaves: 'UPS Healthcare has more than 19.2 million square feet of pharma-certified warehouse space under management, including extensive temperature-controlled facilities. Services include inventory management, cold chain packaging and shipping, storage and fulfillment of medical devices, and lab and clinical trial logistics.' Jacksonville, Florida, is turning up the chill, in the best way possible. FreezPak Logistics, a specialist in the temperature-controlled logistics space, is expanding its national footprint with a brand-new, state-of-the-art facility near the Port of Jacksonville. The new facility spans 272,000 square feet and offers capacity for more than 50,000 pallet positions, across both frozen and cooler zones. That's a serious amount of space dedicated to keeping things cool in the Southeast, a region where demand for cold storage is rising fast. With 32 dock doors, the Jacksonville facility is built for efficiency and scalability. This move is part of a bigger expansion strategy. Jacksonville follows on the heels of FreezPak's recent development in Los Angeles, and it's just the beginning. Another new facility is already on the horizon in Norfolk, Virginia. Frozen pizza is not always top of mind as an economic indicator. Much like the Lipstick Index, an informal economic theory that when consumers perceive that a recession is looming, sales for 'affordable luxury' items such as lipstick increase. Turns out frozen pizza is a barometer for that as well. While these different indicators may not be 'economically proven,' they are related to an extent. In recent weeks the sale of higher-priced frozen pizzas has increased. The rise of frozen pizza, specifically the higher-end variety, is a sign of shifting consumer habits. According to market research firm IBISWorld, the U.S. frozen pizza industry generated $6.5 billion in annual revenue in 2024 and remains well above its pre-pandemic level. Craig Zawada, chief visionary officer at price optimization firm Pros Holdings, clarified that while 'It may seem paradoxical for consumers to choose high-priced frozen pizzas during a downturn, it's a trade-off as they substitute dining out with eating at home. This happens every sort of downturn in the economy.' As consumers put a pause on luxury vacations and big purchases, the smaller splurges or 'little treats' are more commonplace. If going out to dinner isn't in the budget, a $12 frozen pizza is a much easier cost to swallow. This week's market under a microscope heads south to Dallas. Capacity is loosening significantly in Dallas as both reefer outbound tender volumes and reefer outbound tender rejections plummet. Reefer outbound tender volumes have dropped 36.65% week over week. During the same period, reefer tender rejections dropped 568 basis points to 5.88%. Both reefer volumes and reefer rejections in Dallas are at the lowest level thus far this year. This is a strong indication of a weakening market for spot rates and demand for capacity. These trends are atypical for this market and this time of the year, meaning historical rates and trends won't be as reliable for pricing spot rates on the decline. The one good thing about the falling capacity is that shippers can expect stronger contract carrier compliance. Is SONAR for you? Check it out with a demo! Bar Tender by Wingstop: The first bar dedicated to chicken tenders Synear Foods USA brings authentic Chinese dumplings to Sam's Club stores nationwide Demand for cold storage projected to stay hot Birds Eye goes green: Solar-powered refrigerated trailers set to hit the roads Maine's new cold storage facility is at the center of a legal battle over millions in unpaid bills Wanna chat in the cooler? Shoot me an email with comments, questions or story ideas at moconnell@ See you on the internet. Mary If this newsletter was forwarded to you, you must be pretty chill. Join the coolest community in freight and subscribe for more at The post Running on Ice: UPS makes another play in the health care space appeared first on FreightWaves. Sign in to access your portfolio
