THE HISTORIC HOBART HOME SURE TO TURN HEADS AS IT HITS THE MARKET | Kanebridge News
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THE HISTORIC HOBART HOME SURE TO TURN HEADS AS IT HITS THE MARKET

It’s a rare offering in a high demand state where listings are few and far between

By KANEBRIDGE NEWS
Sat, Nov 19, 2022 7:00amGrey Clock < 1 min

As Tasmanian property prices begin to level out – and even drop in some areas – supply continues to be the greatest challenge for the island state.

Most weekends, just a small handful of homes go to market to meet demand from buyers in Tasmania, mainland Australia and beyond.

Which makes the listing of historic ‘Glenbrook’ for the first time in more than 70 years all the more exciting. The 19th century property is set on 2,342 of well-maintained gardens, including mature trees and English-style plantings.

Originally a four-room cottage, the single-level home with loft was extensively expanded during the Victorian era to now include five bedrooms, three living rooms, a music room and a quiet study or home office. Other parts of the home have been gently updated since then, while still retaining original period features.

Positioned in one of Hobart’s most sought after areas, ‘Glenbrook’ is within easy distance of the best that the city has to offer, while still maintaining a sense of country living.

Expectations are that it will attract interest from mainland buyers in the market, as well as locals.

 

Address: 345 Davey Street, South Hobart

For sale by expression of interest: Closing December 15

Next open for inspection: Saturday, November 19 11am-11.45am

Agent: Phoebe Nothling 0466 888 814 Peterswald for property

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The Lipstick Index Is Back

Sales of the cosmetic product are a bright spot in an otherwise bleak discretionary-goods environment

By JINJOO LEE
Fri, Nov 25, 2022 2 min

Masks off, lipstick index on.

In a gloomy economy, consumers might cut back on other discretionary purchases but will keep shelling out for small luxuries such as lipstick—or so goes the theory. “When lipstick sales go up, people don’t want to buy dresses,” Leonard Lauder, then-chairman of Estée Lauder who is widely credited for coming up with the so-called “lipstick index,” told The Wall Street Journal in 2001.

L’Oréal Chief Executive Nicolas Hieronimus called this out during the company’s earnings call in October, noting that a luxury lipstick or mascara is only €30, making it an “affordable treat.” Sales at L’Oréal rose 9.1% in the third quarter compared with a year earlier despite slower sales in China due to Covid-related lockdowns. Coty, maker of CoverGirl makeup, said organic sales grew 9% over the same period.

Beauty sales have also been a rare bright spot for retailers: Target said beauty category sales grew roughly 15% in its quarter ended Oct. 29 compared with a year earlier, with Ulta Beauty shops in Target tripling their total sales volume over that period.

While Macy’s namesake stores saw comparable-store sales decline last quarter, its beauty-focused Bluemercury chain saw same-store sales grow 14% last quarter compared with a year earlier. Kohl’s locations with Sephora are outperforming the rest of the department-store chain.

Of the 14 discretionary categories that market research firm NPD Group tracks, prestige beauty—products you might find at a department store or a Sephora—is the only category that is seeing unit sales growth year to date. And lipstick, which suffered during the masked-up pandemic, is making up for lost time.

Lipstick sales have grown 37% through October this year compared with a year earlier, according to Larissa Jensen, beauty industry analyst at NPD Group. That is an acceleration from the 31% growth seen during the same period last year. Lip product is the only major category within prestige beauty where sales are actually up compared with pre-pandemic levels, according to Ms. Jensen.

Cosmetic companies have also called out strong sales in fragrances, calling it the “fragrance index.” Demand has been so robust that there is an industrywide fragrance component shortage, Coty said in a press release announcing third-quarter earnings earlier this month. CEO Sue Nabi said during the call that Coty hasn’t seen any kind of trade-down or slowdown, also noting that consumers are shifting away from gifting perfume to buying it for themselves.

“A big piece of it is just a shift in what wellness means to consumers,” NPD Group’s Ms. Jensen said. “Beauty is one of the few industries that are positioned to meet [consumers’] emotional need. It makes them feel good.”

While the lipstick effect could be observed in the recession in the early 2000s, that wasn’t the case during the 2007-09 recession, during which lipstick sales declined alongside other discretionary purchases. Part of this might have had to do with category-specific dynamics.

There was a lot of newness in the cosmetic industry in 2001, including lip gloss, a relatively nascent category back then. That tailwind simply wasn’t there starting in 2008, though nail polish turned out to be consumers’ small indulgence of choice in that period. This time around, consumers may be eager to show off a part of their face that was hidden behind a mask for so long during the pandemic.

In an otherwise bleak environment for companies selling discretionary goods, those in the business of selling cosmetics look well poised to come out of the holiday season looking freshened up.

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