Beiersdorf’s La Prairie hit by collapse in travel retail

BERLIN (Reuters) – Nivea-maker Beiersdorf said on Tuesday its La Prairie premium skincare brand has been hit hard by the drop in international travel due to the coronavirus pandemic but sales of its medicinal creams and plasters jumped.

Beiersdof had already scrapped its 2020 outlook due to the pandemic, and released preliminary first-quarter sales that showed a 3.6% fall from a year earlier.

On Tuesday, it said sales of La Prairie dropped 36% and its Nivea brand dipped 0.6% in the quarter, while medicinal Eucerin and Aquaphor brands saw sales rise 11.5% and its healthcare business behind Hansaplast plasters, saw growth of 10.1%.

(Reporting by Emma Thomasson; Editing by Riham Alkousaa)