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Analysts at Financial institution of America have picked out magnificence shares that they consider will come again “stronger than ever” from the coronavirus pandemic.
Inside the magnificence business, the “candy scent of alternative” is more likely to come from the $26 billion fragrance market, in line with BofA in a analysis be aware printed in Could.
Whereas perfume gross sales decreased $5 billion year-over-year in 2020, the sector is ready for a rebound due partially to a greater e-commerce expertise for consumers, the analysts mentioned. Some perfume manufacturers might change into a part of a “billionaire membership,” they added, which means they might make greater than $1 billion in annual product gross sales.
BofA’s buy-rated inventory picks are: