Global beauty’s once-reliable travel retail channel is getting a makeover to recoup slumping sales.
In the first half of 2025, the slump dragged on the results of beauty giants. Estée Lauder Companies (ELC) attributed much of its 8 per cent decline in organic net sales for the 2025 fiscal year (ended 30 June) to global travel retail, while L’Oréal Group blamed a 1.1 per cent decline in North Asia on challenges in the sector.