Could Elf Beauty be the laughing third party here $ELF (-5.46%)
As part of its global strategy, Elf Beauty has decided to enter new markets and deliberately exclude China, according to Amin.03.11.2023.
Next week, the quarterly figures will show us.
Cosmetics manufacturers Estée Lauder and L'Oréal are stumbling
Weak demand in China is affecting manufacturers of skin creams and lipsticks. Shares in cosmetics companies have been a flop so far this year.
When it came to China, managers of cosmetics companies, like executives of watch and jewelry companies, went into raptures for years. Chinese consumers have been buying more and more luxury products, not only in their own country but also when traveling around the world. Rising wages and capital gains from shares and real estate gave them great confidence and made them reach for even the most expensive skin creams and lipsticks when it came to cosmetic products.
