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Estee Lauder UK Warns Of Possible Price Rises In Wake Of Brexit Vote

December 2, 2016: 12:00 AM EST
With downward pressure on sterling resulting from the UK’s anticipated exit from the EU, brand manufacturers in the UK are finding margins squeezed by higher import costs. The head of Estée Lauder in the UK has warned that the company might need to consider price increases, but said it will be as considerate to consumers are possible. Prestige in the UK has benefited so far from sterling’s plunge as overseas shoppers take advantage of the exchange rate. The NPD Group estimate that prestige beauty sales have grown much faster since the June referendum than in the six months leading up to it, but warns that this pace is probably not sustainable as economic conditions change.  
Lucy Whitehouse , "Estee Lauder puts consumer first in the face of Brexit", Cosmetics Design , December 02, 2016, © William Reed Business Media SAS
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