LVMH Moët Hennessy Louis Vuitton reported €86.2 billion in revenue, a 13% increase from the previous year, with most business groups showing strong performance, except for Wines & Spirits.
Unilever’s Axe has gained approval from People for the Ethical Treatment of Animals (PETA). The accreditation will see the deodorant brand join its stablemates on the Beauty Without Bunnies program.
Chanel has formed an alliance of 15 beauty manufacturers with the goal of improving traceability within the industry. The Traceability Alliance for Sustainable Cosmetics is sponsored by the Federation des Enterprises de la Beaute and aims to address traceability at scale.
Scent Beauty has announced that it is adding the All Saints fragrance franchise to its growing portfolio. The partnership will be kick-started with a trio of scents that has been developed by Firmenich.
Bridgepoint fund, Bridgepoint Europe VII has announced that it has made a strategic investment in RoC Skincare. Under the terms of the deal RoC’s existing backer, Gryphon Investors, will sell its majority stake to Bridgepoint for an undisclosed sum.
Kering, the luxury goods conglomerate, has purchased a significant property in New York City for USD 963 million (EUR 885 million)
LVMH has announced a significant change in its executive team: Michael Burke is appointed as the Chairman and CEO of the LVMH Fashion Group, effective February 1, 2024.
IFF, a global industry leader in food, beverage, home and personal care, and health, has partnered with the environmental NGO Bellona to undertake the Norwegian Marine Restoration (NoMaRe) project.
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 has announced the appointment of Venetia Varney as Vice President, Corporate Affairs & Communications, UK&I.
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 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 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, a Spanish cosmetics company, has acquired a majority stake in Dr. Barbara Sturm, a German skincare brand.
British cosmetics retailer Lush has confirmed a cybersecurity incident.
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.
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 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’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 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.
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 have extended their recycling scheme for beauty empties to cover all five of the upscale department store’s five H beauty shops.
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.
The L’Occitane Group has acquired Dr. Vranjes Firenze, an Italian luxury home fragrance brand.
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.
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.
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 has announced that it has become the first global beauty brand to achieve 100 percent vegan product formulations across all ranges.
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.
According to a report in the Kommersant daily, Natura & Co-owned Avon has suspended plans to sell its business in Russia.
Françoise Bettencourt Meyers, L’Oréal heiress, becomes the first woman to amass a US$100 billion fortune.
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 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, Inc., a leading global retailer, has announced its intention to acquire Farfetch Holdings plc, an established online luxury retailer.
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.
British consumers, facing financial pressure, are cutting back on expenses like hairdresser visits and coffee shop purchases.
Walgreens Boots Alliance is said to be considering an initial public offering for its Boots UK business on the London Stock Exchange.
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.
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 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 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 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 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. Cosmetics has partnered with Snapchat for a unique promotion, introducing the “Bitmoji Beauty Drop” for their O Face Satin Lipstick.
Unilever and UEFA have announced a sponsorship deal for UEFA EURO 2024™, with Unilever’s Nutrition and Personal Care brands becoming Official Sponsors.
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
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 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 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 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.