Hair Care Springboards Off Skin-Care Trends, Nail Color Slips In 2013
This article was originally published in The Rose Sheet
Anti-aging hair care and multifunctional alphabet creams for hair grew in 2013 where skin care left off, according to Kline & Company research. Meanwhile nail-care sales have plateaued after several years of double-digit gains, the market-intelligence firm says.
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Shampoo sales propelled hair-care growth around the world in 2013, and 90% of global shampoo growth came from emerging markets, according to Euromonitor’s Oru Mohuiddin. Meanwhile, innovations in conditioners and colorants drove gains in developed markets and helped offset headwinds that created greater drag for skin care and color cosmetics last year, she says.
Coty Inc. recorded a $316.9 million asset write-down in the third fiscal quarter related to its TJoy skin-care business in China, driving a $253.3 million loss overall. The firm will reorganize its mass-market business in the country to improve profitability in Skin & Body Care, which booked an 8% increase in global revenues on the strength of the firm’s philosophy brand, among other highlights, despite TJoy’s drag on the segment’s performance.
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