Is fashion losing gloss?

In this timely episode of The Business of Fashion Podcast, Beauty Is in Its Flop Era, hosts Brian Baskin and Sheena Butler-Young sit down with senior beauty correspondent Daniela Morosini to dissect why beauty's long-standing 'recession-proof' label may no longer apply. Long buoyed by the so-called 'lipstick index', the sector now faces waning sales, layoffs and restless consumers.

Morosini's insights are a standout. She deftly explains how rising prices, market saturation and the chaotic swirl of Amazon and TikTok have changed the game. The days when a loyal customer would repurchase a signature lipstick every quarter seem quaint now. Today's shopper chases novelty - until she doesn't. Fatigue is rising, especially among middle-class Americans, who are paring down beauty spending.

The conversation also touches on how the industry's fixation on constant newness may be backfiring and what brands can do to rebuild trust and loyalty. Morosini's advice? Go back to basics: quality, consistency and clear value.


This episode is essential listening for anyone interested in retail, beauty or consumer behaviour in flux. Engaging, insightful and clear-eyed, it captures a pivotal moment for an industry long thought immune to economic stress.