Beauty News

Luxury Beauty Market Soars Despite Economy

While the luxury market is falling and high end stores are losing money, the luxury cosmetics market is booming. Sales are already up $1 billion from last year.

The failing US economy is said to be responsible for the dip in other luxury sales as consumer confidence is down, but that doesn’t seem to stop makeup shoppers. High end makeup is seen a splurge product that many women don’t mind spending the extra money on.

Sales of luxury nail products (Chanel and Lippmann nail polish) grew by 57% and luxury lip products (MAC, Chanel and Lancome lipstick) grew by 13%.

So even if the economy is failing a perfectly manicured nail and kissable lip never go out of style.

Related: Tom Ford Beauty To Hit Shelves This Fall

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