The impact of the Middle East conflict continues to send shockwaves across global economies, impacting energy and trade in an unprecedented way.
And its effects have reached even that of the beauty industry, with numerous conglomerates from L'Oreal to the Estée Lauder Companies reporting headwinds as a result of the war in their recent financial updates.
The war was triggered following the US and Israel’s joint 28 February airstrike on Iran, killing its Supreme Leader Ali Khamenei, with Iran launching retaliatory drone and ballistic missile attacks.
But it is the ongoing blockade in the Strait of Hormuz – a major maritime choke point that is especially important for the global energy trade – that continues to cause disruption.
Some of beauty’s top bosses have been vocal about the situation, including LVMH CEO Bernard Arnault, who said the crisis affecting the Middle East could end in “world catastrophe” if it is not resolved.
An end to the ongoing conflict and humanitarian crisis is not currently in sight, as Cosmetics Business rounds up the beauty businesses that have reported being affected.
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