L’Oreal invests in Swiss biotech company, Timeline
L’Oreal’s venture capital fund, BOLD has acquired a minority stake in Timeline. The Swiss biotech company has developed a proprietary molecule that is said to recycle and rejuvenate aging mitochondria. Financial terms of the deal were not disclosed.
The Estee Lauder Companies appoints Vice President, Corporate Affairs & Communications, UK&I
The Estee Lauder Companies has announced the appointment of Venetia Varney as Vice President, Corporate Affairs & Communications, UK&I.
LVMH joins up with TikTok to tackle counterfeits
LVMH is said to be in talks with TikTok in a bid to fight the fakes. The social media app and luxury goods conglomerate are hoping to team up to tackle the issue of counterfeit goods being sold via the platform.
Douglas Q1 2023/4: Sales rise 8.3 percent to €1.56 billion
Douglas has released preliminary results for the first quarter of the current financial year (2023/24). The German perfumery chain saw group sales rise 8.3 percent in the three months ended December 31, 2023 versus the prior year to €1.56 billion.
Groupe Bogart acquires Rose et Marius
Groupe Bogart has announced the acquisition of the Rose et Marius House of Haute Parfumerie and Art of Living in Aix-en-Provence, France. Financial terms of the deal were not disclosed.
Puig Acquires Majority in Dr. Sturm
Puig, a Spanish cosmetics company, has acquired a majority stake in Dr. Barbara Sturm, a German skincare brand.
Lush Responds to Cybersecurity Incident
British cosmetics retailer Lush has confirmed a cybersecurity incident.
The Body Shop at Home Ends Operations
The Body Shop has announced the closure of its direct selling operations, known as The Body Shop At Home, in the United Kingdom and Australia.
Step aside Dyson: L’Oreal unveils next generation sustainable hairdryer at CES
L’Oreal has unveiled a hair drying tool that it claims consumes up to 31 percent less energy than a conventional dryer while leaving hair smooth and hydrated thanks to a combination of infrared light technology and wind.
L’Oreal announces acquisition of Gjosa
L’Oreal has announced that it has signed an agreement to acquire the outstanding shares of water tech start-up, Gjosa. The French beauty giant partnered with the Swiss-based innovator to launch the L’Oreal Professional Water Saver professional showerhead in 2021. Financial terms of the deal were not disclosed.
The Body Shop CEO departs with immediate effect as sale completes
The Body Shop’s Interim CEO has stepped down with immediate effect following the completion of the ethical beauty retailer’s sale to Aurelius. Ian Bickley’s replacement is yet to be announced by the private equity firm.
Augustinus Bader hires ex-Dior Parfums Director to head up marketing
Augustinus Bader has announced the appointment of Jerome Pulis as Head of Global Brand Marketing and Communications. Pulis is best known for his 16-year stint at Parfums Christian Dior, where he held the role of Director of International Communication up until January of last year.
A quantum leap? Guerlain under fire for use of scientific term in skin care marketing spiel
Guerlain has been criticised for the use of the term ‘quantum’ in the marketing material for its newly launched Orchidee Imperiale Gold Nobile. The brand came under fire from social media commentators for its claim that the face cream was ‘born from quantum science’.
Harrods and MYGroup expand recycling scheme
Harrods and MYGroup have extended their recycling scheme for beauty empties to cover all five of the upscale department store’s five H beauty shops.
L’Occitane Group Restructures Leadership
The L’Occitane Group has announced a restructuring of its leadership. Starting April 1, 2024, the CEO and Group Managing Director roles will be combined into a single position.
L’Occitane Group Acquires Dr. Vranjes Firenze
The L’Occitane Group has acquired Dr. Vranjes Firenze, an Italian luxury home fragrance brand.
Inflation, what inflation? Superdrug slashes prices by up to 50 percent
AS Watson-owned Superdrug has announced sweeping price cuts across its own ranges. The UK drugstore chain said that it was bringing in permanent reductions of up to 50 percent for some 150 items across its private label brands.
LVMH founder receives Grand Cross of the Legion of Honor
Bernard Arnault has received France’s highest civilian award; the Grand Cross of the Legion of Honor. The LVMH Founder was decorated in the annual New Year’s Day honors list.
Direct Selling Association names Board Chair
The Direct Selling Association (DSA) has announced the appointment of Ayo Olaseinde as Chair of its Board. Olaseinde joined the DSA Board in 2023 and takes on the role alongside his position as President at Saladmaster.
The Body Shop achieves vegan certification for all products
The Body Shop has announced that it has become the first global beauty brand to achieve 100 percent vegan product formulations across all ranges.
Unilever buys premium hair care brand K18
Unilever has announced the acquisition of premium hair care brand, K18. Financial terms of the deal were not disclosed. The purchase is expected to be completed by the close of the current quarter.
Avon Halts Russian Business Sale
According to a report in the Kommersant daily, Natura & Co-owned Avon has suspended plans to sell its business in Russia.
Françoise Bettencourt Meyers Hits $100 Billion Milestone
Françoise Bettencourt Meyers, L’Oréal heiress, becomes the first woman to amass a US$100 billion fortune.
Douglas Achieves Record Sales in 2022/23
Douglas, a premium beauty retailer in Europe, ended its 2022/23 financial year with adjusted net sales of 4.1 billion euros, a 12.1% increase from the previous year.
Olehenriksen to make Ulta debut
Olehenriksen will hit shelves in Ulta Beauty stores in the New Year. The Scandi skin care brand will be stocked in 700 stores across the US and on the Ulta website.
Coupang Announces Acquisition of Online Luxury Retailer Farfetch
Coupang, Inc., a leading global retailer, has announced its intention to acquire Farfetch Holdings plc, an established online luxury retailer.
Unilever Nears Sale of Elida Beauty to Yellow Wood Partners
Unilever Plc is said to be in advanced discussions to sell its Elida Beauty division, which includes a range of non-core beauty and personal care brands, to Yellow Wood Partners, a private equity firm.
UK Consumers Shift to Home-Based Solutions Amid Economic Pressures
British consumers, facing financial pressure, are cutting back on expenses like hairdresser visits and coffee shop purchases.
Will Walgreens spin off Boots UK?
Walgreens Boots Alliance is said to be considering an initial public offering for its Boots UK business on the London Stock Exchange.
Sephora to open third UK store in 2024
Sephora has announced that it is planning to open a further UK store next year. The LVMH-owned retailer will cut the ribbon on a 5,380 square foot space in Manchester’s Trafford Centre in summer 2024.
UK launches probe into Unilever’s ‘green’ claims
The UK’s Competition and Markets Authority (CMA) has announced that it will scrutinise ‘green’ claims made by Unilever via a formal investigation after an initial review uncovered some ‘concerning practices’.
Revolution CFO to step down
Revolution Beauty is bowing to pressure from shareholders to shape up its management team. The UK-based make-up firm has announced that CFO, Elizabeth Lake will step down at the end of this month.
LVMH cedes control of Starboard; sells majority stake
LVMH has sold a majority stake in Cruise Line Holdings Co, owner of Miami-based Starboard, to a group of investors headed up by Jim Gissy. Financial terms of the deal were not disclosed.
Christian Louboutin Beauty names Global Makeup Artist
Christian Louboutin has named Morgane Martini as Global Makeup Artist for its beauty arm. The brand noted on its Instagram page that Morgane will ‘bring her talent to express her interpretation of Christian Louboutin glamour’.
Claire’s opens Mexico City flagship
Claire’s has entered the Mexican market, cutting the ribbon on a 1,227 square foot flagship store in Mexico City. The new location will stock the brand’s jewelry, hair accessories, cosmetics and tech ranges.
E.l.f. Launches Bitmoji Lipstick Promo
E.l.f. Cosmetics has partnered with Snapchat for a unique promotion, introducing the “Bitmoji Beauty Drop” for their O Face Satin Lipstick.
Unilever, UEFA Announce EURO 2024 Sponsorship
Unilever and UEFA have announced a sponsorship deal for UEFA EURO 2024™, with Unilever’s Nutrition and Personal Care brands becoming Official Sponsors.
LVMH Expands Environmental Initiatives Globally
LVMH announced at COP 28 in Dubai the expansion of its environmental efforts under its LIFE 360 program, focusing on biodiversity conservation and climate change
Chanel brings Manchester to a standstill with Metiers D’Art show
It’s official, the north of England has officially been put on the map after Chanel staged its Metiers d’Art event in Manchester. Several road closures were in effect as the French fashion brand constructed an outdoor catwalk in the city’s Northern Quarter leading up to the show.
Unilever and Accenture join forces on next generation AI
Unilever and Accenture have announced a partnership as part of a strategic initiative to leverage the Dove manufacturer’s AI research and implementation of technologies that enhance productivity and drive efficiencies.
PZ Cussons Audit Chair steps down
PZ Cussons has announced that Jeremy Townsend, Non-Executive Director and Chair of the Audit and Risk Committee is stepping down from the board, effective February 28, 2024.
KFC Spain unveils meme-inspired fragrance, Eau D’uardo
KFC Spain has created a promotional campaign centred around the launch of a fragrance. The scent’s name, Eau D’uardo, was inspired by a viral meme created by the fast food outlet’s marketing team in 2021.
L’Oréal Acquires Probiotic Company Lactobio
L’Oréal has announced the acquisition of Lactobio, a Copenhagen-based leader in probiotic and microbiome research.
Mary Kay Expands into Hungary
Mary Kay Inc., a global beauty brand, is expanding into Hungary as part of its ongoing growth into the European market
Zara Launches New Hair Line
Zara is entering the hair product market with a new line called “Zara Hair,” developed in collaboration with hairstylist Guido Palau.
Stella McCartney names former L’Oreal executive as new CEO
Stella McCartney has named Amandine Ohayon as CEO, effective immediately and succeeding Gabriele Maggio who has held the role for the past four years.
YSL Beaute heads to Parliament with Women’s Aid to fight gender-based violence
YSL Beaute has teamed up with Women’s Aid in a bid to raise awareness of gender-based violence in the UK. The L’Oreal-owned beauty brand’s Abuse Is Not Love campaign aims to educate 2 million people worldwide on the signs of abuse by 2030.
Chanel heir named richest Swiss resident
Bilanz magazine has crowned Gerard Wertheimer as Switzerland’s richest resident thanks to the growing popularity of luxury labels post-pandemic, which pushed the Chanel heir’s wealth to an estimated US$47.6 billion.
Huda Kattan: beauty has an inclusivity problem
Huda Kattan thinks that the beauty industry has a long way to go before it can consider itself inclusive. The owner of Huda Beauty said that representation is moving ‘at a snail’s pace’ and that the beauty industry is sexist.
L’Occitane becomes a €1 billion business as first half net sales surge 24.9 percent
L’Occitane has reported its results for the first half of fiscal 2024. The French natural cosmetics company saw net sales surge 24.9 percent to tip its total over the €1 billion mark. Operating profit rose 11.8 percent.
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