Estée Lauder, L’Oréal suffer as China’s duty-free spending falls
A decline in duty-free spending in Hainan is hurting major beauty brands like Estée Lauder, L’Oréal, and Shiseido, with Chinese shoppers cutting back amid a post-pandemic slowdown.
A decline in duty-free spending in Hainan is hurting major beauty brands like Estée Lauder, L’Oréal, and Shiseido, with Chinese shoppers cutting back amid a post-pandemic slowdown.
