The past four months have been a rough ride for major beauty and personal care companies as retailers in the US, Asia and Europe have shut their doors during the COVID-19 crisis.
Pharmacies and supermarkets, Australia’s major retailers of beauty products, have remained open as essential businesses and department stores are also back on track.
Asian and European retailers kickstarted their return to normalcy over the past two months.
A major boon for large beauty and personal care companies has also been the ability to switch production facilities to manufacture hand sanitisers and cleansers to meet surging global demand.
It is hard to predict annual revenues for 2020, but 2019 was a profitable year for the top 10 US-based giants of the industry.
On a side note, with Coty‘s much-publicised acquisition of stakes in Kylie Cosmetics and KKW Beauty, their earnings for the year were US$177 million and US$125 million, respectively.
1) Procter & Gamble – US$42.3 Billion
2) Estee Lauder – US$14.8 Billion
3) Colgate-Palmolive – US$13.1 billion
4) SC Johnson – US$10.5 Billion
5) Coty – US$8.6 billion
6) Johnson & Johnson – US$7.7 Billion
7) Ecolab – the global leader in water, hygiene and infection prevention – US$5.5 billion
8) L Brands (Victoria’s Secret and Bath and Bodyworks) – US$5.3 billion
Joint 9th – Mary Kay and Church & Dwight (Batiste, Nair, Toppik) – both US$3 billion
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