Liz Rodbell returns to Hudson’s Bay, this time as President and CEO
Hudson’s Bay has announced the appointment of Liz Rodbell as President and CEO. Rodbell is an HBC veteran, having served as President of Hudson’s Bay from 2013-2017.
3M, DuPont and Corteva prevail in PFAS class action
A US appeals court has found in favor of 3M, Corteva and DuPont et al in a class action lawsuit that sought to charge circa 10 chemicals manufacturers with contaminating the environment via the production and supply of PFAS.
Google drafts in Vogue executive as MD of Tech, Media and Telecoms
Google has announced that it has appointed Vanessa Kingori as Managing Director of Tech, Media and Telecoms. Kingori joins from Conde Nast Britain, where she is Chief Business Officer and Vogue European Business Adviser.
Klarna expands growth tools for retailers
Klarna has announced the expansion of its growth tools for retailers and creators to help them engage with their audiences in more effective wats and enhance the shopping experience for customers.
The party’s over: Disco ceases trading and files for bankruptcy
Men’s skin care brand, Disco has ceased trading and filed for Chapter 7 bankruptcy. The brand is said to have between 50 and 99 creditors and estimated liabilities of between US$1 million and US$10 million.
Inter Parfums Forecasts Robust Growth
Inter Parfums, Inc. has announced its financial projections for 2024, expecting net sales to reach $1.45 billion and earnings per diluted share of $5.15.
Consumer Caution Marks Holiday Shopping
Black Friday sales in the U.S. have shown consumers are spending cautiously, signalling a potentially subdued holiday shopping season.
Mary Kay Joins Global Shea
Mary Kay Inc., a global beauty brand, has joined the Global Shea Alliance (GSA), a non-profit focused on creating a sustainable and competitive shea industry.
Dior cuts the ribbon on Saks Fifth Avenue takeover
Saks and Dior have cut the ribbon on their collaborative holiday campaign with the launch of an exclusive World of Dior digital pop-up on Saks.com and the unveiling of the department store’s New York flagship’s 10-storey-high light show.
Saks owner cashes in real estate to shore up retail arm
Rumors have been swirling around the financial stability of department store chain Saks with several beauty brands said to have placed the US retailer on credit hold. However, owner HBC has announced that it will pump US$340 million in cash into its retail operations thanks to the sale of assets from its US$7 billion real estate portfolio.
Kohl’s Q3: Net sales down 5.2 percent but gross margin on the up
Kohl’s has reported its results for the third quarter of fiscal 2023. The US department store chain reported net sales of US$3.8 billion, down 5.2 percent from the year-ago quarter, but gross margin grew 158 basis points to 38.9 percent.
Nordstrom Q3 2023: net sales dive 9.4 percent but profit rising
Nordstrom has reported its results for the third quarter of fiscal 2023. Total company net sales fell 6.8 percent while the eponymous US department store saw net sales decrease 9.4 percent and gross merchandise value fell 9.8 percent compared to the prior year quarter.
Unilever opens global AI laboratory
Unilever has opened a global Artificial Intelligence (AI) Laboratory in Toronto, Canada. The UK-based FMCG giant’s new facility has been dubbed Horizon3 Labs and is party of a wider investment in tech across the business.
Kohl’s President and COO quits after 8 months in the role
Kohl’s President and COO, Dave Alves has left the company after a mere 8 months at the department store and will not be replaced.
Unilever Announces Layoffs at NY Plants
Unilever has announced it will lay off 169 employees at two of its New York manufacturing plants in Amityville and Farmingdale, effective April 2024.
Thomas Myers Appointed PCPC President
The Personal Care Products Council (PCPC) has appointed Thomas F. Myers as its new president and CEO, effective from January 2024.
Walgreens Pharmacy’s Close for Thanksgiving
Walgreens Boots Alliance has announced an unprecedented decision to close nearly all its stores and pharmacies on Thanksgiving Day.
Sephora Revises Fragrance Sales Strategy Amid Rising Thefts
Sephora has revamped its approach to selling fragrances in response to increased store thefts.
Bath & Body Works Reports Mixed Q3 2023 Results
Bath & Body Works, Inc. has released its financial results for the third quarter of 2023, revealing various achievements and challenges.
Annie Jackson Appointed CEO of Credo Beauty
Credo, a company known for its commitment to sustainable beauty, has appointed its co-founder and COO, Annie Jackson, as the new CEO.
Target Q3: Sales drop 4.9 percent but profit beats expectations
Target has announced its results for the third quarter of fiscal 2023. The US retailer said that its revenue of US$25.4 billion (-4.2 percent) was consistent with expectations, while its profit beat analysts’ forecasts, with adjusted EPS up 36.3 percent to US$2.10.
Federal judge green lights hair relaxer suit; L’Oreal, Revlon named among defendants
A federal judge has given the nod to a series of claims that chemical hair relaxers made by Revlon and L’Oreal caused cancer and other injuries. The multidistrict litigation totals some 8,000 lawsuits.
Walgreens shutters warehouses as stores double up as fulfilment centers
Walgreens Boots Alliance is hoping to speed up online deliveries despite the recent closure of an e-commerce distribution warehouse in Illinois. How? The drug store giant’s 8,700-strong store network will double as fulfilment centers.
Anastasia Beverly Hills to sponsor Formula 4 driver Biana Bustamante
Anastasia Beverly Hills has made its first foray into sports sponsorship, naming Bianca Bustamante as its first ambassador from the sporting world.
BeautyHealth CEO steps down; Interim CEO announced
BeautyHealth has announced that CEO Andrew Stanleick has resigned from his role as President and CEO and will relinquish his seat on the Board, effective November 19, 2023. Beauty Health Director, Maria Beck will serve as Interim CEO while a formal search is conducted by the Board.
L’Oréal USA announces 2023 Women in Science Awardees
L’Oreal USA commemorated a 20-year commitment to women in STEM by announcing the recipients of its 2023 For Women in Science Fellowship program.
Inter Parfums Reports Strong 2023 Growth
Inter Parfums, Inc. has reported its financial results for the third quarter and the first nine months of 2023, showcasing significant growth and success in the fragrance industry.
Sahajan’s Growth Through Equity Funding
Sahajan, an Ayurvedic and clean beauty brand, has secured its first round of equity funding to support growth in North America.
ODDITY Reports Strong Quarterly Performance
ODDITY Tech Ltd. (NASDAQ: ODD) has announced its preliminary unaudited financial results for the third quarter ending September 30, 2023.
Kohl’s Announces Major Board Changes
Kohl’s is making significant changes to its Board of Directors. Peter Boneparth, the current Board Chair, will retire at the end of his term in May, with Michael Bender set to succeed him.
Shein Targets High IPO Valuation
Shein, the online fast fashion retailer, is aiming for a valuation of US$80 to US$90 billion for its potential U.S. initial public offering (IPO).
FDA grants cosmetics industry six-month grace period to comply with MoCRA
The US Food & Drugs Administration (FDA) has issued guidance on its intent to delay enforcement of the requirements for cosmetics product facility registration and cosmetic product listing contained in the Modernization of Cosmetics Regulation Act, 2022 (MoCRA) by six months.
Vivify Specialty Ingredients acquires Access Ingredients
Vivify Specialty Ingredients has announced that it has acquired Access Ingredients. Financial terms of the deal were not disclosed.
Olaplex Q3 2023: sales plummet 30 percent
Olaplex Holdings has announced its results for the third quarter of fiscal 2023. The hair care company saw sales plummet 30 percent to US$123.6 million and income nosedive from Q3 2022’s US$60.8 million to US$20.4 million.
Coty brands Q1 a ‘very strong start’ to FY24 as sales surge 18 percent
Coty has announced its results for the first quarter of its current financial year. In the three months to September 30, 2023, the US beauty behemoth saw sales surge 18 percent (LFL and reported), well ahead of expectations.
Decree closes financing round led by Natalia Vodianova
Decree has announced the completion of a financing round led by Natalia Vodianova, Timon Afinsky and Harry Blain. Vodianova will also take a seat on the Board of the doctor-led skin care brand.
What’s in a name? Luna Daily launches therapy hotline to help destigmatize the word ‘vulva’
Body care brand Luna Daily has launched a campaign created in partnership with Joan London, aimed at normalizing and destigmatising the word ‘vulva’.
Will Waldencast be delisted over SEC reporting fail?
Waldencast has received a delisting notice from the Nasdaq Capital Market after it failed to comply with SEC reporting rules.
Carlyle puts US$1 billion price tag on Tokiwa
Carlyle is rumored to be seeking a buyer for Tokiwa and the Japanese cosmetics supplier could fetch up to US$1 billion.
Cos Bar Replaces Shen in Brooklyn
Cos Bar has taken over the location previously held by Shen Beauty in Brooklyn, planning to open its doors during the holiday season.
Neal Sample Joins WBA Executive
Neal Sample has taken on the role of Executive Vice President and Chief Information Officer at Walgreens Boots Alliance, starting immediately.
Unilever Ventures and True Beauty Ventures Invest in The 7 Virtues Fragrance
Unilever Ventures, the venture capital arm of the Unilever Group, has partnered with True Beauty Ventures, an investment firm specialising in scaling beauty and wellness brands, to complete the inaugural institutional financing round for The 7 Virtues.
Dior Opens Holiday Pop-Up Boutique in Miami
Dior is opening a new pop-up boutique in Miami called the “Dior Garden of Dreams,” inspired by the Jardin des Tuileries.
Freddy Bharucha Appointed President of P&G’s North America Personal Care and Beauty Operations
Freddy Bharucha has been appointed as the inaugural president of Procter & Gamble’s (P&G) North America personal care and beauty operations.
FTC Accuses Amazon of Price Manipulation
Amazon has been accused by the U.S. Federal Trade Commission (FTC) of employing illegal strategies to increase profits within its online retail business.
LO3 Capital supports Inspired Beauty Brands with growth capital
LO3 Capital has announced that it has provided a senior subordinated debt investment to support Inspired Beauty Brands with growth capital.
China is not a priority for us: Elf Beauty announces international expansion plan
Elf Beauty is planning on international expansion but it won’t be relaunching on the Chinese market any time soon. Instead, the mass beauty brand will focus its efforts on the US and Western European markets.
The Estee Lauder Companies Q1 2024: Outlook lowered as sales plummet 10 percent
The Estee Lauder Companies has reported its results for the first quarter of fiscal 2024. The US prestige beauty giant reported net sales of US$3.52 billion in the three months ended September 30, 2023, down 10 percent from the prior-year period.
SOS teams up with Ulta Beauty to boost in-store product discovery
SOS has announced an exclusive partnership with Ulta Beauty aimed at boosting in-store product discovery.
Lush debuts on Ulta’s website
Lush has announced a first-of-its-kind wholesale partnership with Ulta. The ethical cosmetics brand will sell a select range of its products via the US beauty retailer’s website.
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