Shares in cosmetics maker Warpaint (W7L) fell by as much as 11 per cent on the day management revealed lacklustre sales in Europe. The shares have since recovered some of this ground. A spokesperson for Warpaint said that there was "no particular reason" behind the flat sales in Europe. They added that sales in regions outside Europe, representing 75 per cent of the group total for the flagship W7 brand, have all experienced growth.
The US has been the standout market for Warpaint in terms of sales growth, which management said was in the double digits compared with the same period last year. The company also recently launched a line of cosmetics free from any animal products, dubbed the Very Vegan range, which it said has had "encouraging" sales so far, although modest in the context of the group total. The newly listed company is also focusing on expanding its online presence and expects online sales to grow on the back of celebrity endorsements via social media.
