The company said margins also were hurt by weaker than expected demand, which contributed to lower-than-anticipated ASPs and lower-than-expected manufacturing utilization rates.
Apart from the high input cost environment, margins have been adversely affected by disproportionate growth in developing markets and mid-tier products, which have lower than segment average selling prices (ASPs) and lower demand for premium-priced products leading to an adverse product mix and a downward pressure on margins.
According to the American Society of Plastic Surgeons (ASPS), the five fastest-growing cosmetic surgeries are procedures done to remove the excess skin.