Lipstick effect boosts Debenhams
"New fragrances have helped, but sales of old favourites have also been strong. Make-up sales are driven by colour and that lifts [sales] at the start of the new season," the store's deputy chief exec Michael Sharp told the Guardian.
Debenhams' share of the beauty market has increased to 28% from 26.5%, helping it report overall like-for-like sales of 1.5% in the 17 weeks up to 25 June.
The beauty and fashion market has done well in a tough economic environment. Very upscale players like Hermes is a good example, with its share price almost doubling in the last year alone.
Upscale players profitMore quotidian personal care players like Unilever has seen their share price increase by 25% and L'Oreal is close to a 52-week high at almost €90 a share. Which goes to show that there's money around, even in bad times. If you know where to look.
Brands like Jimmy Choo - mostly a shoe and handbag concern until recently - are also capitalising on the fragrance-beauty market. Companies like Inter Parfums, which handle the licences for Choo, Lanvin and Burberry, amongst others, appear particularly well positioned.