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Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall

The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.
Estée Lauder signage on the outside of a grey building with silver lettering.
Estée Lauder Companies feel the impact of cratering travel retail in China. (Shutterstock)

Unable to travel overseas during the Covid-19 pandemic, Chinese consumers sparked a shopping boom in the southernmost province of Hainan, lured by the tropical island’s plethora of duty-free shopping malls.

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