This episode is set in 1992: Princess Margaret (Lesley Manville) is sitting at her vanity and she’s writing a letter to her former lover Peter Townsend. Among the several objects on the table we can see a Guerlain flacon montre, but the aerial shot makes it impossible to identify it.
One season and almost one decade later (this episode is set in 2001), we can see Margaret sitting at the same vanity but now we can finally tell more about the flacon montre.
The teal disk tells us it contains Mitsouko eau de cologne.
In the same scene, Margaret is putting on some lipstick. The product in question is Elizabeth Arden Lip Spa.
World Wide Aura 
Amazing! I have watched all episodes of the Crown. Also there is this; (you may already know) some of the lipstick shades of Lisa Eldridge was used in the show. Actually one set worker said that they put some of the shades in old packages, for some of the actresses to use these lipsticks in scenes. You may find more info in Lisa’s Instagram account 😊
Hi. Thanks for the info. I read it somewhere on Instagram and I am not surprised: Lisa’s lipsticks are gorgeous and they look great even in historical contexts from the past.