Two decades ago, industry icon Leonard Lauder coined the term the Lipstick Index in a reference to how during the economic recession of the early 2000's women pulled back on indulgences such as jewellery and handbags but continued with affordable expenditure that included beauty products.
While the Lipstick Index is far from obsolete, it's fair to give credit to last year for adding what one could call the “Eyecare Index’ and “the Skincare Index” in a nod to growing sales of their respective categories.
By Adwaita Nayar
