Shoppers’ tightfistedness may refute the Lipstick Index theory coined by Leonard Lauder, who said when the economy declines, lipstick sales rise. But even in this stubborn recession, retailers have begun to spot “green shoots” among the industry’s cracks, which split open almost one year ago.
Prestige beauty sales continued to slide throughout this year, declining 7 percent in the first half of 2009 to $3.7 billion, compared with the year-ago period, according to market research firm The NPD Group. June marked the 11th consecutive month of negative beauty performance.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"