The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The American division of the luxury cosmetics company seeks Chapter 11 protection due to its heavy store network, which includes 166 locations in the US. The company plans to close 23 stores through the restructuring, after “repeated endeavors to engage with its landlords to address unmanageable store lease terms,” according to a press release. While beauty was one of the most resilient categories during the pandemic, the sales growth happened online, putting pressure on brands and retailers that rely on costly store networks.
Guerlain really wants to win this game.
The battle for exclusive international beauty launches is intensifying as Nykaa, Tira and more set their eyes on expansion.
As in-person retail continues to recover, store owners and marketers are working hard to press the main advantage analogue shopping has over digital: its appeal to all the senses.
What had once been a nimble, innovative company, Neutrogena became slow-moving and cautious. It retreated precisely when rivals went all in – and missed out on a big chunk of the market.