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Brexit Likely To Have Significant Impact On Beauty Market, Euromonitor Says

July 5, 2016: 12:00 AM EST
Sales of beauty products during the period 2015‒2020 are forecast to be $205 million lower due to the UK's departure from the European Union, according to Euromonitor International. High-end fragrances saw market growth in 2010‒2015; however, this growth could be negated if consumers cut back on premium spending. Brexit's impact on price-inelastic consumers is likely to be absorbed, sparing niche and luxury segments from a slowdown. Business operations of leading beauty brands with global operations, such as Coty and Estee Lauder, are not likely to be adversely affected by Brexit.
Nicholas Micallef, "How Will Brexit Impact the Beauty Industry?", Euromonitor International, July 05, 2016, © Euromonitor
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