MILAN — For the first time since COVID-19 broke out globally, Italian beauty executives gathered for a physical summit on Thursday to assess the impact of the pandemic on consumer shopping behavior and company performance, as well as to outline trends.
According to Cosmetica Italia’s president Renato Ancorotti, Italian beauty sales are expected to decrease 11.6 percent in 2020, compared to the previous year when they stood at almost 12 billion euros. In particular, total sales generated in Italy will be down 9.3 percent, while exports will decrease 15 percent.
“It’s been a difficult year and just the fact to see you in person today makes me happy. But we have to be honest, this year will leave us with consequences and it will take longer than we think for us to return to the same performances we registered in 2019,” said Ancorotti, who opened the fourth edition