THE WHAT? Coty has announced that it is calling time on its Russian operations, almost three months after the country invaded Ukraine, according to a report published by Reuters.
THE DETAILS Several cosmetics companies have made similar moves, albeit more immediately after the Russian invasion of Ukraine, with L’Oréal closing stores and shutting down operations by March 10 and The Estee Lauder Companies suspending all activity by March 14.
THE WHY? The Russian market is said to account for less than 3 percent of Coty’s sales last year and the company said that it did not expect the move to impact its fiscal 2022 revenue and profit targets, making it all the more baffling why the US beauty behemoth has waited so long.
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
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Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
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Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
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Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
