How the beauty industry is surviving the pandemic

How the beauty industry is surviving the pandemic

Leonard Lauder, the current chairman emeritus of the Estée Lauder Companies, noticed that people were buying a lot of lipstick during the economic downturn of the early 2000s. He coined the term “ lipstick index,” hypothesizing that consumers were willing to spend $30 on a small indulgence during a recession rather than shell out for a bigger-ticket luxury item like expensive shoes or a handbag. Read more…