Makeup sales increase in 2011, report says
Over the first 10 months of the year, dollar sales of makeup jumped 8%, while unit sales rose 5%, according to the research firm NPD Group.
Every segment saw dollar growth. Nail product sales were up 59% year over year, while eye products increased 10%. Lip products earned manufacturers 8% more revenue while facial cosmetics were on a 7% upswing.
Popular products included concealer, foundation, eye shadow and lip color.
Major players in the industry have reported good news this year. French luxury goods conglomerate LVMH -- which owns brands such as Christian Dior, Guerlain and Givenchy as well as the makeup retailer Sephora -– said its perfume and cosmetics segment was up 3% in the first nine months of the year.
In October, Avon Products Inc. said its cosmetics sales in the third quarter were up 4%. Estee Lauder Cos., which owns Clinique, Origins, M.A.C. and more, said its revenue was up 13% for the fiscal year ending June 30. More than a quarter of its sales took place at North American department stores.
-- Tiffany Hsu
Photo credit: Larry Downing / Reuters