Last month in major industry news, ongoing global trade tensions caused beauty companies’ earnings and stocks to fall. US President Donald Trump’s initial threat to impose 50% tariffs on EU imports impacted L’Oréal and LVMH stocks, while Revolution Beauty revealed a drop in revenue amid US trade tensions with China. Meanwhile, Unilever announced it will close its skin care brand REN, and Drunk Elephant’s earnings took a significant hit, which an Innova Market Insights analyst told us could be attributed to its recent shift in consumer base.
