Henkel raises sales and earnings guidance for 2023 following ‘significant’ growth in first half
Henkel has announced a ‘significant’ uptick in sales and earnings for the first half of 2023 and, as a result, is upping its outlook for fiscal 2023. The manufacturer of Schwarzkopf is now forecasting sales of 2.5 percent to 4.5 percent for FY2023.
Unilever boss defends Russian position but promises to review ‘with fresh eyes’
Unilever’s new CEO, Hein Schumacher has pledged to review its decision to continue operations in Russia after Ukraine named the FMCG manufacturer as a sponsor of war.
Rumors swirl as Harvey Nichols CEO makes shock exit
The CEO of Harvey Nichols, Manju Malhotra has resigned from her post. Malhotra has worked for the UK department store for some 25 years and was appointed CEO in 2020.
PZ Cussons names Chief Information Officer
PZ Cussons has announced the appointment of Jawaz Illavia as Chief Information Officer. Jawaz will join fellow new senior leadership hire, Chief People Officer Cath Bailey on the Executive Leadership Team.
Rumors swirl around potential Douglas IPO
Douglas is said to be preparing to list on the stock market. The German perfumery chain’s owner, CVC Capital Partners is rumored to be working with advisors to prepare an initial public offering (IPO).
Frasers ups stake in Asos
Frasers Group has announced that it is upping its stake in Asos. An official filing with the London Stock Exchange shows that the owner of Flannels has increased its share from 10.5 percent to 16.8 percent.
Geiger Eyes Privatizing L’Occitane Amid Market Shifts
Reinold Geiger, the controlling shareholder of L’Occitane International SA, is discussing potentially privatizing the skincare company at a roughly $6.5 billion valuation.
Yves Rocher Plays Digital Hide-and-Seek in DACH Region
French cosmetics brand Yves Rocher is closing its physical stores in Germany, Austria, and Switzerland due to unsustainable operations, though they will maintain their online sales in these regions.
Sniffing Out Gen Z: Austin Butler & The MYSLF Revolution
Austin Butler is the new global ambassador for Yves Saint Laurent Beauty’s men’s fragrance, MYSLF.
Dufry’s Sky-High Ascent: Profits Soar with Post-Pandemic Wings
Duty-free retailer Dufry has raised its profitability projections for 2023, attributing this adjustment to a surge in global travel post-pandemic, resulting in better-than-expected results for the year’s initial half.
Beiersdorf’s H1 2023: Heightened Profitability and Sales Uptick
Beiersdorf’s sales rose to €4.9 billion in H1 2023, marking a 12.3% organic increase.
Bath Bomb Bonuses: Lush Showers Execs with Cash Amid Profit Plunge
Cosmetic company Lush paid £4 million in bonuses to its top executives last year despite profits plummeting by 90%.
Witch Hazel Whirl: Thayers’ London Pop-ups Unveil Bold New Look
Thayers, a beauty brand owned by L’Oréal, is launching pop-ups in London to introduce its rebranded witch hazel products.
Chanel extends Chance fragrance line with Eau Fraiche EDP
Chanel has launched a new variant in its popular Chance fragrance line. Chance Eau Fraiche Eau de Parfum is said to combine the density of an Eau de Parfum with the brightness of an Eau de Toilette.
Cellular Goods to roll out skin care range to France and Germany
Cellular Goods is preparing to roll out its skin care range, Look Better to the French and German markets this year. The CBD-based beauty brand will extend the reach of its e-commerce site to cover the two European nations.
Symrise H12023: Sales up 6.8 percent despite ‘tense global economic environment’
Symrise has announced its results for the first half of fiscal 2023. The German ingredients supplier reported sales of €2,414 million, up 6.8 percent on the same period a year ago. EBITDA was down on last year’s figures at €446 million due to a one-time effect relating to the shutdown of the Colonel Island site.
Charlotte Tilbury unveils Disney 100 collab
Charlotte Tilbury and Disney are both celebrating key milestones this year and to mark the occasion, the pair have teamed up to unveil a range of Disney-inspired limited-edition products.
Luxury slowdown, what luxury slowdown? Hermes sees sales soar 28 percent in Q2 2023
Hermes International has announced its results for the second quarter of fiscal 2023. Bucking the wider trend in luxury as US sales stall, the French designer reported a 28 percent rise in sales at constant currency to hit a total of €3,317 million.
Prada enters the luxury beauty fray; launches skin care and make-up collection
Having acquired the Prada licence in 2021, L’Oréal is ready to take the brand into the realm of skin care and make-up. The Italian designer has entered into two new product categories with the launch of its Prada Skin and Prada Color collections.
Unilever names Non-Executive Director and Chair Designate
Following an exhaustive search, Unilever has announced the appointment of Ian Meakins as Non-Executive Director and Chair Designate, effective September 1, 2023. Meakins will succeed Nils Andersen as Chair on December 1, 2023.
L’Oréal CEO to deliver key note speech at CES 2024
The Consumer Technology Association has announced that L’Oréal CEO, Nicolas Hieronimus will deliver the key note speech at CES 2024. The owner of Maybelline and Lancôme is the first beauty company to headline the event.
L’Oréal 1H 2023: sales up 12 percent as China delivers ‘sharp recovery’
L’Oréal has reported its results for the first half of fiscal 2023. The French beauty behemoth continued to outperform the global beauty market with sales up 12 percent (reported) to €20.57 billion.
Kering names new Chief Financial Officer
Kering has named Armelle Poulou as its Chief Financial Officer, effective September 1, 2023. Poulou succeeds Jean-Marc Duplaix who is now Deputy CEO, heading up the Operations and Finance teams.
Would you like a bath bomb with that? Just Eat teams up with Lush
Just Eat and Lush have announced a global partnership whereby the takeaway delivery service will offer the ethical cosmetics brand’s popular products to its customers in set markets.
Chairman of L’Occitane International Considers Privatization Amid Strong Q1 Results
Reinold Geiger, Chairman of French skincare corporation L’Occitane International, is reportedly considering taking the company private.
LVMH Partners with Paris 2024 Olympic Games: Fusing Luxury and Sports
LVMH has become a Premium Partner for the Paris 2024 Olympic and Paralympic Games.
Unilever Reports Robust H1 2023 Growth Across All Business Groups
Unilever reported a robust financial performance in the first half of 2023, demonstrating an underlying sales growth of 9.1% across all business groups.
Yara Shahidi Fronts Gaultier Divine Campaign
Jean-Paul Gaultier will launch a new women’s fragrance, “Gaultier Divine,” this August. Yara Shahidi, an actress and activist, is the face of the campaign.
Christian Melcher Takes Charge as Kao’s Global Salon CMO
Kao Corporation has selected Christian Melcher as its Salon division’s Global Chief Marketing Officer
LVMH Thrives Amid Global Uncertainty
LVMH Moët Hennessy Louis Vuitton reported a 15% revenue increase in the first half of 2023, amounting to €42.2 billion.
EU Commission’s Partial Phase-Out of Animal Testing
The European Commission has begun a process to end animal testing for chemicals across Europe gradually.
Daisy on-the-go: Marc Jacobs Unveils Pocket-Sized Fragrance Capsules
Marc Jacobs has introduced Daisy Drops, a new product line in the Daisy Collection, which consists of compact, single-dose fragrance capsules.
Puig’s U.S. Expansion: A Rockefeller Move
Spanish fashion and beauty manufacturer, Puig, plans to relocate its U.S. offices.
Givaudan’s Half-Year 2023: Resilience Amid Challenges
Givaudan has reported solid performance for the first half of 2023.
Unilever Approves Conscripting Russian Employees
Unilever has announced its compliance with any future conscription of its Russian employees for deployment to Ukraine.
Interparfums Plays Fashion Matchmaker: Rochas Unites Under One Roof!
Interparfums SA has announced that the fashion and beauty segments of Maison Rochas will now be consolidated under its management.
Coty’s Cosmetics Cleanup: Trimming the Wella Stake
Coty Inc. is selling a portion of its Wella stake to IGF Wealth Management. The deal involves a 3.6% stake in Wella, which Coty sells for $150 million
BASF Cuts Forecast Amid Slowdown
Chemical giant BASF SE has lowered its annual earnings forecast, attributing this decision to weak global industrial output and lagging consumer product demand.
Lelio Gavazza Appointed as New CEO of TOM FORD FASHION
Ermenegildo Zegna N.V. has announced the appointment of Lelio Gavazza to the newly created CEO role at TOM FORD FASHION.
H&M Announces Expansion into Brazil by 2025
Fashion retailer H&M has revealed plans to expand its presence into Brazil by 2025, encompassing physical stores and an online platform
Essity Finalises Russian Market Divestment
Essity, a renowned hygiene and health company, has concluded the divestment of its operations in Russia, thereby exiting the Russian market.
H&M Expands Beyond Apparel
Fast-fashion retailer H&M is diversifying its portfolio beyond clothing. In response to stagnant sales, the company is expanding into beauty products and housewares and offering products from third-party brands.
Maybelline Grapples with Public Backlash Over Inclusive Advertising
L’Oréal-owned Maybelline is criticised for featuring bearded makeup artist Ryan Vita in an advertisement, following a similar controversy involving transgender influencer Dylan Mulvaney.
Revolution Beauty in Leadership Transition
Bob Holt, CEO of UK-based Revolution Beauty, is reportedly prepared to step down if a settlement is reached with major shareholder Boohoo regarding changes to the board.
Superdrug Thrives Amidst Economic Headwinds
Superdrug, one of the UK’s leading health and beauty retailers, has announced strong financial results for 2022. With sales soaring by 17% to reach £1,367 million.
Trans woman named Miss Netherlands
Rikkie Valerie Kolle has become the first trans woman to win the Miss Netherlands title, according to a report published by the New York Times.
Inter Parfums scoops Roberto Cavalli fragrance license
Inter Parfums has announced that it has entered into an exclusive worldwide fragrance license for the Roberto Cavalli brand, effective immediately. The Cavalli fragrance business will be managed from Inter Parfums Italia’s office in Florence, in keeping with the company’s strategy to develop an Italian brand hub.
Kering rumored to have paid €3.5 billion for Creed
While the financial terms of Kering’s acquisition of Creed were not disclosed officially, the Financial Times and Reuters are reporting that the owner of Gucci paid €3.5 billion for the fragrance house.
LVMH announces water conservation plan
LVMH has announced a water conservation plan which aims to manage the precious natural resource more efficiently on a global scale, reducing the luxury conglomerate’s consumption by 30 percent by 2030.
Coty holds investor conference ahead of planned European IPO
Coty has hosted its first investor event in Paris in a bid to buddy up to the European investment community in advance of its planned IPO.
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