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Spa News: Hurricane Sandy Impacts US Cosmetics Industry
The US cosmetics industry is expected to be impacted by the damage caused by hurricane Sandy since close to 70 percent of American cosmetics operations are located within 200 miles of New York City. Many areas are still cleaning up the damage from the storm, and it could take time to tell just what the impact of Sandy will be on the daily operations of cosmetics manufacturers.
We have already seen immediate effects on the cosmetic world since Estee Lauder and Elizabeth Arden have postponed the the release of their recent quarter financial results.
AIR Worldwide suggests that insured losses could come between $7 billion and $15 billion. For smaller cosmetic companies the amounts that insurance companies pay out could be critical to their future success.
[Image: Mario Tama/Getty Images]