Pandemic hits the brand value of top 50 global cosmetic brands

Brand Finance Cosmetics 50 2021 report shows that the COVID 19 pandemic has hit the top 50 cosmetic brands in a big way. These brands have collectively lost more than $12 billion worth of brand value. The total value of these brands has fallen by 9%, from $137.75 billion in 2020 to $124.8 billion in 2021. Colour Cosmetics has been the worst hit segment with an average brand value reduction of 15%. Multi-level marketing brands have seen an average fall of 12%, with Avon down 24% and Oriflame down 1%. Even the largest brands in hair care, razors, and fragrance sectors have seen a plunge of 10%.