The Ugly, Lovely Effects of the Coronavirus Crisis on Beauty Businesses
Presently, serial entrepreneur Blake says sales are down 50 to 70 percent, a shift many women beauty business owners reported. Valeria Cole, founder of Portland, Oregon skincare product maker Teadora Beauty, says that overall, the volume of orders has fallen between 30 to 50 percent, depending on the product in question.
In addition, Cole’s firm had launched a partnership with Bergdorf Goodman just before the crisis took hold in the United States, she says. With those stores’ physical locations closed, she is not seeing any profit from that. She has incurred numerous related costs, too — for example, some of her products are stuck in Italy, where they’re produced, and she must pay financing charges to house them without revenue to offset it.