The Ed.
Well-Known Member
Let's face it, in the midst of the economic downturn, the nail industry is the undisputed winner. Resilient in the face of the toughest financial crisis in decades, the nail industry as a whole has boomed and sales of polishes, in particular, have grown exponentially year on year.
But, WWD.com are reporting that the boom may well be over. For the first time, polish sales have slowed down. Last year, sales of high-end polishes have increased by 19% compared to 23% the year before. High-street polishes also rose by only 19%, 5.85 down on the previous year's figures.
Obviously, there is still growth and David Greenberg, President of Maybelline New Yok, Garnier and Essie at L'Oreal says he doesn't think there's much to worry about. "Not everything can grow at 40% a year but if it grows at five or 6 per cent that's pretty good."
So, no immediate panic then but interesting nonetheless.
Until then...geek on!
The Ed.
But, WWD.com are reporting that the boom may well be over. For the first time, polish sales have slowed down. Last year, sales of high-end polishes have increased by 19% compared to 23% the year before. High-street polishes also rose by only 19%, 5.85 down on the previous year's figures.
Obviously, there is still growth and David Greenberg, President of Maybelline New Yok, Garnier and Essie at L'Oreal says he doesn't think there's much to worry about. "Not everything can grow at 40% a year but if it grows at five or 6 per cent that's pretty good."
So, no immediate panic then but interesting nonetheless.
Until then...geek on!
The Ed.
