L’Oreal’s SalonCentric to acquire Concept JP
SalonCentric Canada, a subsidiary of L’Oréal Canada, has signed a definitive agreement to acquire the operations of Concept JP in Canada. The deal includes the distribution of the K18 brand in the Quebec market, operated by a separate distributor under the tradename K18HairQuebec.
Townhouse to acquire Glosslab assets via bankruptcy process
Townhouse has struck a deal with administrators to acquire the assets of ailing US nail salon chain, Glosslab as part of the latter’s bankruptcy proceedings. Under the terms of the Chapter 11 filing, the UK-based nail brand will purchase Glosslab’s inventory, equipment and New York leases for US$425,000.
Olaplex Q4 2024: sales drop 9.8 percent as professional channel plummets
Olaplex has announced its results for the fourth quarter of fiscal 2024. The hair care brand said sales dropped 9.8 percent in the three months to December 31, 2024 versus the same period in 2023.
New York nail salon chain files for bankruptcy
Manhattan-based nail salon chain, Glosslab has initiated Chapter 11 bankruptcy proceedings in the state of New York. The filing follows reports that the salon had failed to pay rent on some of its 20 locations and had been forced to shut several down.
Fresha debuts hair color tech thanks to Yuv investment
Fresha has announced a strategic investment and partnership in Yuv. The collaboration will help Fresha to cement its position as the go-to platform for salon and beauty professionals, integrating Yuv’s hair coloring technology to enhance precision, streamline inventory management and deliver precision and consistency.
Mangomint raises US$35 million in Series B funding round
Mangomint has announced that it has closed a US$35 million Series B funding round. The round was led by Altos Ventures with participation from SaaStr Fund and existing investor OpenView Venture Partners.
SK:N Clinics Collapses, Halts All Operations
SK:N Clinics, one of Britain’s largest plastic surgery providers with over 70 branches, has collapsed and ceased trading.
Drybar expands international presence; 26 stores to open across Qatar, Kuwait and UAE
Drybar is gearing up to open some 26 stores across Qatar, Kuwait and the UAE thanks to a newly signed master franchise deal with Lekhraib Rose.
Dior to open first Dubai spa
Dior has partnered with The Dorchester Collection to open a spa at The Lana in Dubai – the LVMH-owned brand’s first in the UAE region. The 4,305 sq ft space is due to be completed in April.
L’Oréal Canada Expands with ICON
L’Oréal Canada has announced that SalonCentric Canada, a subsidiary of the company, will acquire the operations of ICON SALON SYSTEMS, a privately owned full-service distributor based in British Columbia (BC).
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