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Does lipstick still have economic staying power?

by Stephanie Hughes

Aug 19, 2024

Historically, when the economy gets rough, sales of lipstick go up. But for luxury beauty brands, that may not still be the case.

Luxury skincare and makeup was doing well a couple years ago. But now, with the price of everything up, consumers are reassessing what counts as a "little luxury" purchase.

Larry French/Getty Images for NYX Professional Makeup

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