Pure Beauty

How to thrive in a recession, according to the brand founders that launched in the 2008 financial crash

By Sarah Parsons | Published: 15-Sep-2020

Beauty must harness the same fighting spirit as in 2008, albeit with a digital state of mind

You need to be a subscriber to read this article.
Click here to find out more.

In 2008 – the start of the Great Recession signalled by the collapse of Lehman Brothers and Northern Rock – consumer confidence dropped, stock markets crashed and retailers shuttered doors. But the 'lipstick effect' didn't waver. Throughout the economic downturn, retail sales in the UK beauty market grew 19% between 2007 and 2012 (Mintel).

Today, the world is facing another financial crisis. In August, UK government ministers confirmed the country was in recession – as the economy fell a second quarter by 20.4%, the largest decline since quarterly records began in 1955.

At least

Not yet a Subscriber?

This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.

Subscribe now Already a subscriber? Sign in here.

You may also like