After being hit significantly by the pandemic, beauty is back, according to a report by McKinsey. In “The State of Fashion 2022” McKinsey writes that driven partly by burgeoning social commerce channels for which beauty products are perfectly suited, “the sector’s competitive intensity shows no signs of abating, with luxury fashion houses expanding into beauty in a bid to boost revenues and attract new customers without eroding their brand values.” Click here for McKinsey’s full beauty analysis, which begins on page 122.