BALTIC COSMETICS SUFFER LOCALLY, THRIVE ABROAD
August 1st, 2009
BY MONIKA HANLEY
DESPITE being one of the regions hardest hit by the global financial crisis and its resulting recession, the cosmetics industry of the Baltic States (Estonia, Latvia and Lithuania) is doing surprisingly well. Although local sales have been under pressure, companies have begun expanding abroad in the last year.
According to the Lithuanian Cosmetics and Household Chemicals Producers Association (Likochema), that most southerly Baltic state's national sales of locally produced cosmetics have fallen about 20% in year-on-year in 2009 as of August. ...
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