There’s been a marked slowdown in the European marketplace. Yet, while this year looks to be difficult — with soft sales looming and more retail closures possible — beauty executives are focusing their sights on the best strategies to bolster their business.
“I think 2009 is going to be very challenging,” said Debbie Beaumont Howell, head buyer for beauty and accessories at the U.K.’s House of Fraser department store, adding that established brands with loyal consumer bases are likely to fare better than less well-known names in the tough economic climate. “It’s going to be about maintaining market share through service, theater and having a point of difference. We’re working with a 2009 calendar that’s event — rather than discount — driven.”
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?"