Fall of the malls? Macy’s 3Q 2020 sales down 21 percent
Macy’s has reported its results for the third quarter of the current financial year. The US department store saw sales tumble 21 percent yoy to US$3,990 million and reported a loss of US$91 million, a far cry from the US$2 million net income reported in the same period last year.
Peter Harf buys US$150 million stake in Coty
Ex Coty CEO Peter Harf has upped his stake in the US beauty behemoth to the tune of US$150 million, according to a report published by Bloomberg, quoting a regulatory filing as its source.
Now Walmart steps back from Japan; sells majority stake in Seiyu to KKR
Walmart and Rakuten have announced the signing of definitive agreements under which KKR will purchase a majority stake, and a new Rakuten subsidiary will purchase a minority stake in Seiyu. The deal values the business at ¥172.5 billion.
L’Oréal USA announces 2020 For Women In Science Fellows
L’Oréal USA has announced the recipients of its 2020 For Women in Science Fellowship. The annual program awards five female post-doc scientists grants of US$60,000 a head to advance their research.
Revlon Q3 2020: Sales tumble 20.1 percent
Revlon has announced its results for the third quarter of the current financial year. The US beauty giant saw sales plummet 20.1 percent yoy to US$477.1 million in the three months to September 30, 2020 versus US$596.8 million in the prior-year period.
The new black? TikTok trend could spur on sales of colored mascara
A burgundy mascara produced by L’Oréal Paris has gone viral after a TikTok user highlighted its potential to make eyes appear greener, according to a report published by Health.
One skin: Vaseline partners with Regina King to champion skin care for all
Vaseline has partnered with Regina King as part of a wider mission to champion change for true equity in skin health for Black and Brown skin.
‘Sales will bounce back next year’; Edgewell Personal Care reports 4Q and FY 2020 results
Edgewell Personal Care has announced its results for the fourth quarter and full year of fiscal 2020. Sales dropped 7.4 percent yoy in the final quarter ended September 30, 2020, to bring net sales to US$1,949.7 million for the year. A decrease of 8.9 percent compared to the prior year.
Coty: we expect Wella sale to complete by the end of the month
Coty has announced the anticipated completion of the sale of its Wella unit to KKR by November 30, 2020, according to a report published by Yahoo! Finance.
Pharrell Williams to debut skin care line, Humanrace
Singer Pharrell is set to unveil his skin care line, Humanrace, next week on November 25. A report published by Dazed Digital reveals that the range will launch with three vegan products, a Rice Powder Cleanser, Lotus Enzyme Exfoliator and Humidity Cream.
Revlon nears completion of bondholder accord to avoid bankruptcy
Revlon is said to be close to a bondholder accord, which will help the beauty giant avoid bankruptcy, news which has caused company shares to jump 15 percent this week, according to a report by Bloomberg.
Premium goes mainstream: Ulta teams up with Target to open new ‘shop-in-shops’
Ulta has announced a strategic partnership with Target, which will see the premium retailer open ‘shop-in-shop’ concepts inside the mass retailer.
L’Oréal prevails in patent suit
A suit filed by an ex-L’Oréal employee claiming wrongful discharge over patent quotas has been dismissed by the US District Court for the District of New Jersey, according to a report published by JD Supra.
Things can only get better: Coty reports ‘significantly improved’ Q1 2021
Coty has announced its financial results for the first quarter of fiscal 2021. The US beauty behemoth said that its performance had ‘significantly improved’ in the three months ended September 30, 2020.
Beauty takes over Twitter with 118 million tweets over 12 months to July 2020
While beauty has long been associated with the likes of image- and video-led social media platforms such as Instagram, Snapchat and TikTok, Twitter is no stranger to the industry, according to a report published by Ad Week.
Younique names Kristi Hubbard CEO
Younique has named Kristi Hubbard Chief Executive Officer. Hubbard has held the role of President since July this year and her transition to CEO was envisaged at the time she joined the company, Younique said in a statement.
The Estee Lauder Companies ushers in hassle-free gift option for online shoppers
The Estee Lauder Companies has partnered with SmartGift in order to make the online shopping experience for gifts a breeze this holiday season.
Hemp Synergistics debuts two new CBD lines
Hemp Synergistics has announced the launch of two D2C CBD-based lines, Pure Synergistics and Lily + Rein, according to a report published by Bevnet.
Walgreens Boots Alliance names first African American woman to Board
Walgreens Boots Alliance has announced the appointment of Valerie Jarrett to its Board of Directors and to the Board’s Audit Committee and Compensation and Leadership Performance Committee, effective immediately.
e.l.f. Beauty reports Q2 2020 net sales increase
e.l.f Beauty has reported a 7 percent year on year net sales growth to $72.4 million for the three months ending 30th September, 2020.
Estée Lauder Companies reaches milestone climate goals; pushes forward for 2030
The Estée Lauder Companies has achieved net zero emissions as well as sourcing 100% renewable electricity globally for its direct operations, as a result reaching the target set when joining the RE100.
Marshmello make-up? Music producer Marshmello challenges L’Oréal trademark application
Speculation is growing that notorious music producer Marshmello is planning a foray into make-up after he challenged a trademark application lodged by L’Oréal for the term ‘The Marsh Mellow’ in relation to a new beauty launch, according to a report published by EDM.
Sales of Chanel-branded cotton pads sent stratospheric as TikTok trend spirals
A hack that’s gone viral on social media platform TikTok has sent sales of Chanel’s cotton make-up remover pads sky-high, according to a report published by the New York Post.
The Estee Lauder Companies Q1 2021: sales down 9 percent
The Estee Lauder Companies has reported its results for the first quarter of fiscal 2021. In the three months ended September 30, 2020, the US prestige beauty behemoth saw sales drop 9 percent on a reported basis to US$3.56 billion.
Shopify announces TikTok partnership
Shopify has announced a first-of-its-kind partnership with TikTok that brings the short-form video platform to its more than one million merchants across the US, followed by select markets throughout North America, Europe and Southeast Asia from early 2021.
Colgate-Palmolive names new CFO as Jakobsen retires
Colgate-Palmolive has announced the appointment of Stanley J Sutula to succeed Henning Jakobsen as Chief Financial Officer, effective November 9, 2020. Jakobsen will assume the role of Senior Vice President until his retirement date of December 31, 2020, in order to ensure a smooth transition.
Men care about sustainability too: Gillette unveils 2030 sustainability goals
Procter & Gamble-owned Gillette has announced a series of sustainability commitments aimed at reducing product and packaging waste and improving its environmental footprint across major areas such as water conservations, manufacturing operations and its supply chain by 2030.
Postmates launches retail platform for instant delivery across LA
Postmates has announced the launch of a new platform offering users instant delivery from LA-based apparel, homeware, beauty and wellness stores, according to a report published by CNBC.
Amazon launches ‘Climate Pledge Friendly’ badge in Europe
Amazon is debuting its Climate Pledge Friendly program in Europe, unveiling some 40,000 products across France, Germany, Italy, Spain and the UK with one or more of its sustainability certifications.
Revlon owner Ronald Perelman sells assets to aid cash flow
Revlon owner Ronald Perelman has sold a series of artworks worth some US$350 million in total, according to a report published by The Value.
Avon opens first immersive experience centre in the U.S.
Avon has announced the opening of its new immersive experience centre, Studio 1886, based in Los Angeles, U.S.
THG shares rise as company upgrades annual revenue guidance
Shares in THG have risen 10.6 percent to 737.3p following upgraded annual guidance from £1.48 billion to £1.52 billion.
LVMH and Tiffany tie up deal with new purchase price
The ongoing will they, won’t they saga of the LVMH-Tiffany buy out continues, with the jewellery maker now said to be willing to renegotiate on price in order to tie up the deal, according to the Financial Times.
Morphe parent company snaps up Lipstick Queen
Forma Brands, new parent company of Morphe, has announced the acquisition of Lipstick Queen, according to a report by WWD.com.
Bed, Bath & Beyond puts a woman on top: Elizabeth Meltzer named as General Merchandising Manager
Bed, Bath & Beyond has upped its female leadership quota, having named Elizabeth Meltzer as General Merchandising Manager.
Now P&G Beauty launches refill system
Following the launch of Unilever’s largest refill pilot in Europe to date yesterday, P&G Beauty has now shared its latest packaging innovation.
Bobbi Brown launches new make-up brand
Following her departure from her eponymous Lauder-owned brand, make-up artist Bobbi Brown has announced the launch of a new venture. Jones Road is Brown’s first foray into cosmetics since she quit her namesake brand in October, 2016.
ELC and Aveda to pilot blockchain tech to track vanilla
The Estee Lauder Companies-owned Aveda has partnered with LMR Naturals by IFF, Biovanilla, BSR and Wholechain to launch a pilot program to leverage blockchain technology in its Madagascan vanilla supply chain.
Visa Tap to Phone to expand to US after successful pilot
Visa Tap to Phone has announced that, after a year-long pilot, it will be available in some 15 markets with plans to expand to the United States.
Coty creates Chief Digital Officer role, and names Chief Commercial Officer
Coty has announced two additions to its leadership team with the appointments of Isabelle Bonfanti as Chief Commercial Officer and Jean-Denis Mariani to the newly created role of Chief Digital Officer.
Elemis announces leadership reshuffle
Elemis has announced a leadership reshuffle, with Noella Gabriel being promoted to Global President and Oriele Frank to Chief Product and Sustainability Officer, effective immediately. Sean Harrington, CEO, has joined the Board of L’Occitane International.
Procter & Gamble boost FY outlook as Q12021 results beat industry expectations
Procter & Gamble (P&G) has reported a Q1 2021 sales rise of 9 percent, fuelled by a stronger call for its household goods amidst COVID-19, as well as higher demand in North America, the company’s largest market.
L’Oréal USA shakes up leadership; Marc Toulemonde named as new Chief Digital & Marketing Officer
L’Oréal USA has named Marc Toulemonde as its new Chief Digital & Marketing Officer, with Christina Fair being promoted to President, Active Cosmetics Division, North America, effective 16th November, 2020.
Instagram becomes more efficient; Facebook evolves business messaging with Messenger tools
Facebook has announced its latest update for Instagram, which focuses on making business messaging more efficient through an integration with Messenger tools, according to a report by WWD.com.
Hudson Yards event space goes bankrupt as pandemic brings business to a standstill
Hudson Yards event space, Hudson Mercantile, has filed for bankruptcy as the pandemic continues to wreak havoc on the events industry, according to a report by Bloomberg.
KKR names Annie Young-Scrivner as Wella Company CEO
KKR has named Annie Young-Scrivner as Chief Executive Officer of Wella Company, effective upon the close of the previously announced transaction by which KKR will acquire a 60 percent stake in the firm from current owner Coty.
New York judge throws out L’Oréal lawsuit
A New York court has thrown out a class action suit brought against L’Oréal which alleges that the French beauty brand’s EverSleek Keratin Caring hair care line is misleadingly named, according to the Global Legal Chronicle.
Citigroup drops charges against Investcorp over US$18.9 million Revlon transfer
Citigroup has dropped Investcorp from the list of defendants it is suing over an accidental payment sent to a series of Revlon creditors, according to a report published by Bloomberg.
The Estee Lauder Companies names President of Online as McEniry retires
The Estee Lauder Companies has named Gibu Thomas President of its Online division, following the retirement of Dennis McEniry after nearly 20 years with the company, effective November 16.
Hudson’s Bay names first Vice President for Diversity and Inclusion
Hudson’s Bay has announced the landmark appointment of its first Diversity and Inclusion executive, effective November 23, according to a report published by WWD.
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