By region, North Asia sales were down 4.8 per cent. The drag of travel retail brought North Asia down sequentially. He noted that travel retail also impacted sales for the Luxe category, which includes brands such as Lancôme, Aesop, Kiehl’s and the cosmetics and fragrance licences for luxury brands like Giorgio Armani and Prada. LVMH’s Perfumes & Cosmetics division reported 9 per cent organic sales growth to €1.96 billion in the third quarter. “Weakness in North Asia travel retail was offset by strong performance in Europe and emerging markets excluding China,” Bruno Monteyne, senior analyst, personal care at Bernstein says.

Source: The North Africa Journal October 19, 2023 20:30 UTC