Boohoo more than doubles stake in Revolution Beauty to become largest shareholder amidst accountancy probe
Boohoo has more than doubled its stake in Revolution Beauty to become the cosmetic brand’s largest shareholder.
L’Oréal delves further into green sciences with minority stake buy-out of French biotech Microphyt
L’Oréal has announced a strategic partnership with French biotech Microphyt, which sees L’Oréal’s venture capital fund, BOLD (Business Opportunities for L’Oréal Development) acquire a minority stake in the firm.
LVMH hosts Show Me event in Paris to promote and preserve the Métiers d’Excellence
LVMH has hosted its Show Me event in Paris, which is said to highlight a year of concrete initiatives that ‘bring generations together to pass on, celebrate and preserve the Group’s exceptional Métiers d’Excellence.’
L’Oréal unveils multi-brand partnership with Ready Player Me
L’Oréal has announced a new, multi-brand beauty partnership with Ready Player Me, the leading cross-game avatar platform for the metaverse.
L’Occitane lays out new corporate mission
L’Occitane Group has unveiled its new corporate mission statement: ‘With empowerment we positively impact people and regenerate nature’. The new corporate mission represents the next phase in the company’s ambitious transformation into a geographically balanced, multi-brand group.
L’Occitane reports record profit for 1H23 as net sales rise 29.3 percent
L’Occitane has reported a second consecutive record interim net profit of €63.9 million, for the first half of fiscal 2023, up 5.4 percent on the prior year period. Net sales increased 29.3 percent to hit €900.5 million, while operating profit rose 10.3 percent to €87 million.
PZ Cussons appoints Non-executive Director
PZ Cussons has announced the appointment of David Tyler as a Non-executive Director. Tyler is expected to be named Chair of the Board of Directors, succeeding Caroline Silver on March 31, 2023.
UpCircle achieves B Corp Certification
UpCircle has announced that it is now a certified B Corporation. The circular economy brand is one of only 3,500 to have passed a B Corp impact assessment out of 100,000 businesses that have applied.
Duolab partners with Frasers Hospitality
Duolab has teamed up with Frasers Hospitality to provide a personalized skin care guest amenity offer for Fraser Suites.
German firms need support to expand beyond China, says industry lobby
The Association of German Chambers of Industry and Commerce is calling for greater support to reduce their reliance on the Chinese market, according to a report published by Reuters.
Alessandro Michele steps down as Gucci Creative Director
Kering has announced that Alessandro Michele is to step down as Creative Director of Gucci, which he has been at the helm of since 2015.
Inter Parfums announces 2023 initial guidance
Inter Parfums has announced its initial 2023 guidance, expects 2023 net sales of US$1.11 billion, resulting in earnings per diluted share of US$3.70.
Superdrug signs 300 brands to newly launched health and beauty retailer marketplace
UK health and beauty retailer Superdrug has signed 300 brands to the newly-launched Superdrug Marketplace.
Are Unilever, L’Oréal and Procter & Gamble among UK’s biggest advertisers shunning TV advertising spend in favour of digital media?
More than two-thirds of the UK’s biggest advertisers are said to be cutting back on traditional television media in 2023, with the recession pushing them to digital media and last-minute promotions, according to a report by the Guardian.
Estée Lauder Companies UK&I makes key leadership appointments
Estée Lauder Companies (ELC) UK & Ireland has announced the appointment of Emmanuelle Noyer to the role of Vice President General Manager for Tom Ford Beauty, Le Labo, Kilian Paris, Editions de Parfums Frédéric Malle and Balmain Beauty.
Firmenich and DSM jointly announce the launch of the Exchange Offer as part of their merger to create DSM-Firmenich
Firmenich and DSM have jointly announced the launch of the Exchange offer as part of their merger to create DSM-Firmenich.
Sephora faces class action over ‘clean’ claims
A disgruntled shopper has launched a class action lawsuit charging Sephora with deceiving consumers by selling products containing synthetic ingredients under its Clean at Sephora banner, according to a report published by Top Class Actions.
Wavemaker wins Avon account
Wavemaker has prevailed in a competitive three-month pitch for Avon Cosmetics’ media account, according to a report published by Prolific North.
Claire’s launches content series with top influencers
Claire’s dedicated Content Studio has announced the launch of a new style-centric content series featuring some of the industry’s leading tastemakers.
Merck puts pigments division up for sale once more
Merck is said to have bought in Goldman Sachs to advise on the sale of its pigments unit, according to a report published by Reuters. The division has been put up for sale previously but the deal feel through as a result of the pandemic.
PZ Cussons announced new sustainability-linked credit facility
PZ Cussons has announced that it has agreed a new £325 million credit facility, which includes a pricing structure linked to the manufacturer of St Tropez’s new sustainability framework.
Unilever tops the price hike charts
Unilever has hiked its prices more quickly than fellow FMCG manufacturers, according to a report published by Reuters.
Amazon sued for US$1 billion over competition law breach
Amazon is set to defend its Buy Box in a UK court after law firm Hausfeld & Co named the US e-commerce behemoth as defendant in a suit that alleges the promotional tool breaches UK and EU competition law, according to a report published by The Wall Street Journal.
More talc woes for Johnson & Johnson; personal care giant faces class-action lawsuit over UK customer talc cancer claims
Johnson & Johnson (J&J) is facing a class-action lawsuit brought by Houston litigator Mark Lanier’s new UK firm, which is accusing the personal care giant of its talc products causing UK customers to develop cancer.
Cosmetic Executive Women (CEW) announces winners of the 29th Annual Beauty Creators Awards
Cosmetic Executive Women (CEW) has announced the winners of the 29th Annual Beauty Creators Awards at a networking event.
Clarins launches T.R.U.S.T platform using blockchain technology; provides transparency on ingredient traceability and product manufacturing
Clarins has launched its new platform named T.R.U.S.T., which uses blockchain technology and provides transparency on ingredient traceability and product manufacturing.
L’Oréal set to relocate UK corporate headquarters to London’s White City Place
L’Oreal is relocating its UK corporate headquarters from Hammersmith Broadway to Gateway Central, a new building at White City Place, London.
Revolution Beauty Founder steps down as probe continues
The Founder of Revolution Beauty, Adam Minto has left the company with immediate effect, according to a report published by the Financial Times.
Croda announces Louisa Burdett as new Group Finance Director; Jez Maiden retires
Croda has named Louisa Burdett as its new Group Finance Director, succeeding Jez Maiden who will retire from the company in 2023.
LVMH partners with Circular Bioeconomy Alliance to support African cotton farmers
LVMH is partnering with the Circular Bioeconomy Alliance in support of its latest Living Lab with a regenerative agriculture project based in Chad.
Skincare brand Facetheory achieves B Corp status
UK skincare brand Facetheory has announced it is now a certified B Corporation (B Corp) company.
Avon to move R&D operations to Brazil and Poland
Natura &Co-owned Avon has announced that it will be establishing new Research and Development operations in Brazil and Poland, two of its largest markets, and closing its existing New York-based facility.
Dufry Q3 2022: travel back in business with summer sales boost
Dufry has reported its results for the third quarter of fiscal 2022. The travel retail operator said that sales soared 58.6 percent yoy in the three months to September 30, 2022, to CHF 2115.2 million, bringing the nine-month total to CHF5.037.6, up 98.8 percent on the same period last year.
Kering could be entering the fray for Tom Ford and the markets like it
Shares in Kering rose at the close of last week as rumors that the owner of Gucci was in the running to acquire Tom Ford swirled around the markets, according to a report published by Reuters.
Air France and Clarins launch spa in JFK lounge
Air France and Clarins have teamed up to launch a new spa in the New York-JFK lounge. The new 30 sq m space is reserved for La Premiere, Business and Flying Blue Elite Plus customers.
Blackrock heralds ‘new democratic era’ for shareholders with proxy vote
Blackrock is piloting a scheme which would allow its shareholders to vote on proxy battles in a move it has branded a ‘revolution in shareholder democracy’, according to a report published by The Financial Times.
L’Oréal denies claim it has suspended advertising on Twitter
L’Oréal has denied claims from a Financial Times report that it has suspended advertising spending on Twitter, according to a report by Reuters.
L’Occitane launches new spa aboard the World Traveller ferry
L’Occitane has launched its new spa aboard the World Traveller from Atlas Ocean Voyages, according to a report by Cruise Industry News.
Beiersdorf 9M 2022: FY guidance raised as sales swell 11.1 percent
Beiersdorf has reported its results for the first nine months of the current financial year. The manufacturer of Nivea saw organic sales rise 11.1 percent on the prior-year period to hit €6,730 million and raised its full-year sales estimates accordingly to 9 to 10 percent in the consumer business.
EU to charge ‘polluting’ cosmetics firms for wastewater treatment
The European Union is mulling new legislation that would require cosmetics manufacturers to contribute to the cost of wastewater treatment, according to a report published by the Financial Times.
Will the UK lift ban on animal testing through back door bill?
A proposal by conservative MP, Jacob Rees-Mogg to wipe out some 2,400 pieces of European legislation via the Retained EU Law (Revocation and Reform) Bill has caused alarm bells to ring as it could potentially see a raft of legislation revoked without proper scrutiny, according to a report published by The Guardian.
L’Oréal names President, Mugler Fashion and Fragrances
L’Oréal has named Daniele Lahana-Aidenbaum Global President of its recently acquired Mugler fashion and fragrance brand, according to a report published by Fashion Network, effective immediately.
THG shares rise as sales forecast reaffirmed
THG shares have been boosted by an announcement that the British e-commerce operator expected to meet its previously published full-year guidance as demand for beauty products proves resilient in the face of rising inflation, according to a report published by Reuters.
Unilever reports record Q3 12.5 percent price increase; raises sales guidance for the year
Unilever has posted underlying price growth of 12.5 percent in Q3, with turnover increasing by 17.8 percent to 15.8 billion euros (£13.7 billion) over the quarter.
Estée Lauder Companies appoints Chris Reid as Vice President General Manager of Commercial, ELC UK & Ireland
Estée Lauder Companies (ELC) has appointed Chris Read as Vice President General Manager of Commercial, ELC UK & Ireland, effective 1st January, 2023.
L’Oréal sued over hair straightening-products cancer claims
L’Oréal is being sued by a Missouri plaintiff who claims she has developed uterine cancer as a result of using hair straightening products by the French beauty giant, according to a report by Reuters.
Luxe beauty brand La Bouche Rouge teams up with footwear brand Gianvito Rossi on limited-edition upcycled capsule
Luxury beauty brand La Bouche Rouge has teamed up with footwear brand Gianvito Rossi on a limited-edition upcycled capsule, according to a report by WWD.com.
L’Occitane continues ‘positive momentum’ with 24.9 percent Q2 sales growth
L’Occitane has reported ongoing ‘positive momentum’ despite ‘ongoing headwinds’ in certain markets, with sales growth in the three months ended 30 September 2022 accelerating to 24.9 percent at reported rates or 16.2 percent at constant rates.
Beiersdorf names Florian Wolfram new General Manager, Beiersdorf Canada
Beiersdorf has named Florian Wolfram as its new General Manager, Beiersdorf Canada.
Ganni teams up with Submission to launch beauty line
Scandi fashion brand Ganni has unveiled its first foray into the cosmetics world – a line of biodegradable cosmetic glitter produced in collaboration with Submission Beauty.
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