LOS ANGELES Beauty Collection, a Los Angeles-based beauty products retailer with three locations in Southern California, is offering beauty mavens a tax break in April, and is encouraging other retailers to join the effort.
The move is in response to the state government?s move to increase sales tax by 1% beginning April 1. Some state consumers will see their local sales tax rate increase even more with additional district-level increases approved by counties and cities across the state, the company stated.
“It’s a really tough economic environment - the toughest I’ve ever seen,” stated Shawn Tavakoli, Beauty Collection CEO. “The recession is even hitting beauty retailers, a market segment that’s traditionally done fine in economic downturns. Meanwhile, our elected officials in Sacramento are doing the exact opposite of what they should be doing: they?re raising taxes.”
According to the company, many retailers have seen revenues drop by 25% or more and, during the month of February, the state’s unemployment reach 10.5%, stated Beauty Collection, citing data from the California Labor Market Review.
Beauty Collection represents more than 200 prestige and salon beauty brands with more than 30,000 products.