Unilever and P&G-owned brands are scaling down their product sizes in order to avoid ramping up their prices still more, according to a report published by The Grocer.
L’Occitane has announced its unaudited results for the quarter ended March 31, 2023 (Q4 2023). In the 12 months ended March 31, 2023, the group’s net sales passed the €2 billion mark for the first time, hitting €2.135 billion, up 13.4 percent yoy at constant rates (+17.9 percent reported).
L’Oréal has been named as the world’s most valuable cosmetics brand in the Brand Finance Cosmetics 50 2023 ranking. The French beauty giant’s brand value rose 7 percent last year to hit US$12 million. Placed second was Estee Lauder ahead of Nivea, Gillette and Dove.
Apollo Global Management is said to be putting together an offer for UK-based THG, according to a report published by Sky News, and has bought the former CEO of Coty, Camillo Pane, on board to help draw it up.
The Inkey List has named Stephanie Davis Michelman as CEO, according to a report published by WWD. Michelman joins from LVMH where she held the role of Global Chief Marketing Officer, Benefit Cosmetics.
Oriflame has become the latest beauty firm to announce the sale of assets in Russia, according to a report published by Direct Selling News. The deal is expected to close in the second quarter of the year.
Beiersdorf has confirmed that it achieved an organic sales increase of 12.2 percent in the first quarter of fiscal 2023. The German skin care manufacturer said that its Nivea brand, in particular, had an ‘outstanding’ first quarter.
Unilever has beaten Q1 sales forecasts, reporting underlying sales growth of 10.5 percent.
Kering has reported a 2 percent sales gain in Q1 2023, falling behind rivals LVMH and Hermès.
LVMH’s market value has been sent to new heights thanks to the relaxation of Covid-related restrictions in China, according to a report published by the Financial Times. The French luxury conglomerate has become the first European company with a market value of US$500 billion.