Skincare maker Beiersdorf is seeing a weakness in demand for skincare products in Latin America, including Mexico in particular, due to US tariffs and political uncertainty, its CEO said on Thursday.
The company has also identified a trend of so-called "skinimalism" in other countries, where people buy fewer and often cheaper products and use them less often, Beiersdorf CEO Vincent Warnery said on a call with reporters and analysts.
Beiersdorf warned of a slowing skincare market in emerging countries after announcing its third-quarter results on Thursday.
"We used to have an emerging market skin care growing double digits, we end up at a level which is close to low single digits, even negative in some countries," Warnery said.
"Obviously, Latin America is hit by not only the politica