Are Luxury Beauty Brands In Trouble?
According to Women's Wear Daily
, high-end beauty brands might be lagging behind their more affordable counterparts in terms of sales growth. According to Karen Grant, vice president of The NPD Group, the fact that women have more quality beauty options at lower price points is making modern consumers rethink their devotion to luxe beauty products. Says Grant to WWD
: “Prestige [beauty] is just one of her options, there are really exciting things outside of prestige — the mass market is creating more noise — and even outside beauty.”
Sales of prestige beauty products are still increasing, just not enough — only 6% in the past 12 months at department stores, compared to an increase of 11% in 2012. This means, sadly, that sales may soon flatline. Here's hoping that our favorite high-end products stay in business — because as much as we love our cheapie CoverGirl mascara, we have to say that we love our pricey lippies just as much.
Photos: Via Dior; Via Yves Saint Laurent.