Buy less to end supply crisis, says Maersk executive
The CEO of Maersk-owned APM Terminals has warned that elevated consumer demand is exacerbating the supply chain crisis, according to a report published by the Financial Times.
L’Occitane unveils social selling platform
L’Occitane has announced the launch of its social selling platform, MyL’Occitane. The company said that its goal is to empower its eco-conscious community by providing them with the opportunity to start their own entrepreneurial journey.
Procter & Gamble aims for net zero by 2040
Procter & Gamble has announced a comprehensive plan to accelerate its fight against climate change and set a new ambition to achieve net zero greenhouse gas emissions across its operations and supply chain, from raw material to retailer, by 2040.
Could do better: beauty left behind in Refinitiv’s Diversity and Inclusion ranking
Refinitiv has released its annual ranking of firms’ performance in Diversity & Inclusion. The industry with the highest D&I score is software and IT services; Kering, South Africa’s Woolworths and GlaxoSmithKline were the only beauty-related companies to secure a top 25 spot, ranked 9th, 12th and 21st respectively.
Merit raises US$20 million in Series A funding round
Minimalist beauty brand Merit has announced a US$20 million Series A funding round led by L Catterton. Macy Venture Partners and Sonoma Brands also participated in the round.
Men’s health brand Numan raises US$40 million in Series B funding round
Men’s health brand Numan has raised $40 million in a Series B funding round, led by White Star Capital.
Resonate Blends to acquire Lemon and Grass cannabis brand
Resonate Blends, a cannabis and hemp holding company, has signed a letter of intent to acquire Florida-based cannabis wellness brand Lemon and Grass.
Function of Beauty appoints Alexandra Papazian as CEO
Customizable beauty, skin and hair care brand Function of Beauty has announced the appointment of Alexandra Papazian as CEO.
MAC names Saweetie Global Ambassador
The Estee Lauder Companies-owned MAC has named Saweetie as its new global ambassador.
Amazon ups the ante in employee perks; offers to cover college tuition for 750,000 US workers
In the ongoing battle to recruit and retain staff, Amazon has played the ace card. The US e-commerce behemoth is offering to pay college tuition for front-line employees as part of a US$1.2 billion investment in education and skills training.
Procter & Gamble reshuffles leadership team as Moeller prepares to take the helm
Procter & Gamble has announced a series of leadership appointments in the run up to Jon Moeller’s official start as CEO of the company, effective November 1, 2021, according to a report published by Cincinnati.com.
Walmart to end quarterly bonus as hourly wage increased
Walmart will no longer pay bonuses each quarter to store workers, instead upping its hourly rate of pay, according to a report published by The Wall Street Journal.
Beauty Pie raises US$100 million in Series B funding round
Beauty Pie has completed a Series B funding round of US$100 million, bringing the company’s total funding to date to approximately US$170 million.
Beautycounter joins forces with Klarna to launch ‘Better Beauty’ livestream shopping series
Clean beauty company Beautycounter is teaming up with buy now, pay later app Klarna on a new livestream shopping series.
Rihanna drops legal case against her father
Rihanna has dropped the legal case against her father, in which he was accused of attempting to profit from the Fenty trademark the pop star uses for her cosmetics line, Fenty Beauty.
Coty announces proposed secondary offering of stock by KKR
Coty has announced a proposed secondary offering of Class A common stock, sold by KKR Rainbow Aggregator.
Sally Beauty announces leadership reshuffle; Denise Paulonis announced as President and CEO
Sally Beauty has announced a leadership reshuffle, with Denise Paulonis appointed as the new President and CEO.
Essence Ventures acquires Beautycon
Essence Ventures has acquired Beautycon Media’s assets, with Beautycon CEO Moj Mahdara having resigned from her position earlier this year, according to a report by WWD.com.
LG Household & Healthcare buys Artic Fox owner, Boinca
LG Household & Healthcare has purchased a majority stake in US-based vegan hair care manufacturer, Boinca, according to a report published by Pulse News.
Jennifer Aniston’s beauty line will be unveiled today
Jennifer Aniston is set to unveil her long-anticipated beauty line, LolaVie, today. The star teased the launch via her Instagram account, simply captioned ‘Something’s coming…’. The brand’s website reveals that the launch date has been set for September 8.
Cindy Davis steps down from Chief Brand Officer role at Bed, Bath & Beyond
Bed, Bath & Beyond has announced that Cindy Davis has stepped down from her role as Executive Vice President, Chief Brand Officer and President of Decorist, effective immediately. Davis joined the company from L Brands in May, 2020.
Amanda Gorman signs three-year partnership with The Estee Lauder Companies
The Estee Lauder Companies has announced a three-year brand partnership with poet Amanda Gorman.
Walmart, Unilever and Natura &Co to support Earthshot Prize finalists
Walmart, Unilever and Natura &Co are among the 14 companies that have signed up to support the finalists of Prince William’s Earthshot Prize.
L’Oréal USA focuses on gender equity; becomes first worldwide company to be EDGEplus certified
L’Oréal USA has become the first company worldwide to be EDGEplus certified, a new certification from the EDGE (Economic Dividends for Gender Equality) global standard.
Walgreens increases starting wage to US$15 an hour due to U.S. worker shortage
Walgreens has become the latest company to increase its starting wage amidst the ongoing U.S. worker shortage.
Olaplex files IPO; lists offering at $100 million
Olaplex Holdings has filed an IPO at the U.S. Securities and Exchange Commission, making it the second company backed by private equity firm Advent International to do so within hours.
Walgreens Boots Alliance announces three new leadership appointments
Walgreens Boots Alliance has announced three key executive leadership positions. Danielle Gray has been named Executive Vice President and Global Chief Legal Officer for WBA, Tracey Brown appointed to the newly created role of President of Retail Products and Chief Customer Officer for Walgreens and Jeff Gruener joins Walgreens as Senior Vice President and Chief Financial Officer.
L’Occitane completes US lease restructure
L’Occitane has announced that it has successfully completed the restructuring of its US lease portfolio, having received approval of its Plan of Reorganization from the US Bankruptcy Court.
Yooma Wellness acquires Vitality CBD
Yooma Welnness has announced that it has acquired Vitality CBD in a transaction valued at up to £10.2 million.
Ulta posts record-breaking Q2 sales as COVID restrictions lift
Ulta Beauty saw sales surge 60.2 percent to US$2 billion compared in the second quarter of fiscal 2021, compared to the same period in 2020 due to the favorable impact from strong consumer confidence and fewer COVID-19 restrictions.
Coty beats expectations with Q4 revenue up 80.7 percent LFL
Coty says it is on the road to recovery, announcing another quarter of improvement in its financial results for the fourth quarter of fiscal year 2021. Indeed, the US beauty behemoth ended the year with revenues of US$4.63 billion, above the high-end of its guidance range (US$4.5-4.6 billion).
Walmart launches new white label delivery service, GoLocal
Walmart isn’t taking Amazon’s recent growth spurt lying down, announcing the creation of a new revenue stream: opening up its delivery capabilities to businesses of all sizes as part of its wider plan to offer technologies and services to help other businesses navigate their own digital transformation.
Visa buys NFT for US$150,000
Visa has purchased the NFT of a digital avatar with ‘hot lipstick’ for US$150,000, according to a report published by Bloomberg Wealth. The company worked with Anchorage Digital to complete the process.
Revlon names Chief Supply Chain Officer
Revlon has announced the hire of Thomas Cho as its Chief Supply Chain Officer, effective immediately.
Rodan + Fields announces leadership shake-up; appoints new CGSO and CMO
Direct sales company Rodan + Fields has announced a leadership shake-up, with the appointment of Laura Beitler as Chief Global Sales Officer (CGSO) and Elana Gold as Chief Marketing Officer (CMO).
Soccer star Megan Rapinoe named as the new face of Shiseido
U.S. soccer star and Olympian Megan Rapinoe has been named as the new face of Shiseido and will star in the company’s Power Is You campaign as well as the launch for the Ultimate Power Infusing Concentrate 3.0.
Johnson & Johnson names Joaquin Duoato as new CEO; succeeds Alex Gorsky
Alex Gorsky is stepping aside from this role as CEO of Johnson & Johnson, with the personal care giant appointing Joaquin Duato, currently Vice Chairman of the Executive Committee, as his replacement, effective 3rd January.
Herbal Essences and TerraCycle partner in scheme to plant trees and donate benches
Procter & Gamble-owned Herbal Essences has teamed up with TerraCycle in a new partnership named ‘Renew the Forest,’ which will see the planting of more than 60,000 trees and the instalment of 20 benches made out of recycled hair care packag
Wella welcomes three new faces to leadership team
Wella has announced the appointment of three C-suite executives to its leadership team. Virginie Costa joins as Global Chief Financial Officer, Gretchen Koback Pursel has been named Global Chief People Officer and Hugh Dineen will take up the role of President of Global Brands and Global Chief Marketing Officer, all effective immediately.
Swiftarc launches US$10 million Beauty Fund
Swiftarc has announced the launch of a US$10 million Beauty Fund focused on backing female-led beauty and wellness brands.
Seed Beauty drops case against KKW and Kylie Cosmetics
Seed Beauty has filed for dismissal of the case it bought against KKW Beauty and Coty-owned Kylie Cosmetics, according to a report published by the Fashion Law.
The Estee Lauder Companies declares quarterly dividend of US$0.53 per share
The Estee Lauder Companies has announced that it will pay a quarterly dividend of US$0.53 per share on its Class A Common Stock and Class B Common Stock.
Thayers debuts first TV commercial
Thayers has unveiled its first television advertisement, according to a report published by Glossy. The 15-second animation is designed to relay the brand story and showcase the ingredients used in its signature toner.
The Estee Lauder Companies FY2021: Freda hails ‘outstanding performance’ as net sales up 13 percent
The Estee Lauder Companies hailed its FY2021 results as ‘outstanding’ as the US prestige beauty giant posted sales of US$16.22 billion, a rise of 13 percent on 2020’s figures (+11 percent in constant currency).
Walgreens launches health-linked credit card
Walgreens has announced the launch of a new myWalgreens Credit Card program, featuring two industry-first retail health and wellness credit cards. Issued by Synchrony Bank, the Mastercard and Credit Card are said to be the first of their kind to reward more personalized wellbeing choices.
Amazon pips Walmart to world’s biggest retailer (outside China) crown
Amazon has been named the world’s largest retailer outside of China, a title previously held by Walmart, according to a report published by The New York Times.
The Parent Company drafts in former Clorox executive to take the rudder
Cannabis company, The Parent Company has hired ex-Clorox Troy Datcher as its CEO, effective September 8, 2021.
Goop teams up with Celebrity Cruises to offer wellness program
Celebrity Cruises and Goop have furthered their partnership with a program of wellbeing classes to be held on board a series of four Caribbean sailings this fall.
Target sees sales rise 8.9 percent as traffic grows in store and online
Target has reported its results for the second quarter of the current financial year. The US retailer saw comparable sales rise 8.9 percent on top of its record growth last year (+24.3 percent).
P&G debuts Gen Z focused hair care brand, Nou
Procter & Gamble has announced the launch of a new multicultural hair care line aimed at Gen Z, according to a report published by Glossy. The US FMCG giant’s Nou brand will be sold via Walmart.com before being rolled out to stores in October.
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