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During Coronavirus, U.S. Cosmetic Seaborne Imports Drop, S&P Says

Boat-based perfume and cosmetic shipments to the U.S. declined by 14.2 percent in the first half of April, according to S&P research.

The volume of perfumes and cosmetics coming into the U.S. by boat dipped by 14.2 percent in the first half of April, according to analysis from S&P Global Market Intelligence.

Shiseido Co. Ltd. and Coty Inc. both contributed to the dip, the data shows. Shiseido had a 33.3 percent decline in U.S. seaborne imports as production shifted toward coronavirus-related essentials like hand sanitizer, while Coty had a 44.3 percent drop.

L’Oréal and LVMH-owned Benefit, meanwhile, increased their shipments to the U.S. by 11.9 and 17.6 percent, respectively, the S&P data showed.

Many companies have shifted gears as COVID-19 spread across the globe. Beauty manufacturers, led by LVMH Moët Hennessy Louis Vuitton, started making hand sanitizer in March.

In the U.S., beauty sales have declined since COVID-19 rendered stores closed. Data from The NPD Group showed the prestige beauty sales in the U.S. were down 58 percent, and while online sales are up, the volumes aren’t high enough to make up for store closures.

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