Cosmetics companies: income developments in time of crisis

Italy is a world leader in the production of perfumes and cosmetics for both made in Italy products and those with foreign brands. This study focuses the income dynamics of the sector, analyzing the evolution of the main profitability indicators (ROE, ROA, ROI, and ROS) of a sample of 457 medium-large sized Italian companies in the 2008-2020 period. So, it is possible to verify the reactivity to the global financial crisis that began in 2008 and the first indications on the 2020 pandemic. The analysis uses descriptive statistics tools and the Anova method of analysis of variance completed by Tukey-Kramer's test. Results show positive dynamics in a sector that has been affected by the crisis but has been able to absorb its negative consequences, improving its profitability over the years, albeit with differences in the different macro-regions of Italy.