Walmart Q2 2022: Retailer raises outlook as US net sales up 5.3 percent
Walmart has raised its outlook for the second consecutive quarter after reporting a US net sales rise of 5.3 percent for the second quarter of the financial year and comp sales at 5.2 percent.
L Catterton snaps up majority stake in Beauty Industry Group
L Catterton is set to acquire a majority stake in hair extension platform Beauty Industry Group. Terms of the transaction were not disclosed.
WOW Tech Group and Lovehoney announce merger
WOW Tech Group and Lovehoney have announced that they have joined forces as two of the global market leaders in sexual wellness, to form the Lovehoney Group.
Procter & Gamble ups ad spend to US$8.2 billion
Procter & Gamble increased its spend on advertising by 12 percent in the 12 months to June 2021, to total US$8.2 billion, according to a report published by PR Week.
L Brands settles with Oregon over sexual harassment claims
Oregon’s Attorney General and Treasurer have announced a settlement with L Brands over allegations that the company’s board failed to investigate former CEO Leslie Wexner’s ties with pedophile Jeffrey Epstein and ignored ‘a widespread and pervasive culture of sexual harassment’.
Lab appeals to FDA to pull sunscreens containing potential carcinogen
Non-profit Haereticus Environmental Laboratory is calling on the US Food and Drug Administration to pull sunscreens containing octocrylene from the shelves over safety concerns, according to a report published by Bloomberg.
P&G to build new manufacturing plant in North Carolina
Procter & Gamble could be poised to construct a new manufacturing facility in North Carolina’s Guilford County, according to a report published by the Rhino Times.
SEPHORiA is back: Sephora’s event arm goes virtual
Sephora has announced the return of its SEPHORiA event as a new virtual experience. Sephoria: Virtual House of Beauty will be hosted in a 3D game-like environment featuring an interactive beauty house with multiple rooms to explore.
MAV Beauty welcomes new President and CEO
MAV beauty has announced that its Board of Directors has made a series of executive leadership appointments.
Hudson’s Bay Co teams up with WeWork to convert Saks stores into workspace
The owner of department store Saks Fifth Avenue, Hudson’s Bay Co has partnered with WeWork to convert part of its retail portfolio into office space, according to a report published by The Wall Street Journal.
Dove Self-Esteem Project launches tool to educate on cultural and societal experiences of Black communities
Unilever-owned Dove has announced the launch of a new, free, tool named My Hair, MY CROWN, as part of its Dove Self-Esteem Project, which aims to educate on cultural and societal experiences of Black communities.
Shopify opens networking hub in NYC to support entrepreneurs
e-commerce platform Shopify has opened a networking hub in Manhattan to support existing and budding entrepreneurs, named Shopify New York.
Supermodel Grace Elizabeth sues Revlon over misuse of image
Supermodel Grace Elizabeth Harry Gabe (Grace Elizabeth) has sued Revlon over the use of her image without her permission.
Activist shareholder Nelson Peltz to end term on P&G Board
Procter & Gamble has announced that Nelson Pelts, CEO and Founding Partner of Trian Fund Management, has notified the company of his decision not to stand for re-election as a director at the 2021 Annual Meeting of Shareholders and retire from the Board of Directors at the end of his term.
Is Revlon out of the woods? Sales up 43 percent in Q2 2021
Revlon has reported its results for the second quarter fiscal 2021. The US beauty manufacturer said its latest set of figures pointed to ‘significant top-line improvements’, as sales rose in the double-digits across all regions and segments.
Sephora celebrates Black beauty with new campaign
Sephora has launched a new campaign, created by R/GA, that celebrates the role Black beauty has played in shaping beauty trends, according to a report published by Glossy.
Mattel pays tribute to COVID-19 heroes with Barbie range
Mattel-owned Barbie is celebrating the role models of the pandemic with a line of one-of-a-kind dolls in honor of individuals who have led the fight against COVID-19.
Levi Strauss & Co branches into activewear with acquisition of Beyond Yoga
Levi Strauss & Co has announced the planned acquisition of Beyond Yoga. The transaction will be financed with cash and is due to close in the fourth quarter of 2021, subject to regulatory approval. Financial and operational terms of the deal will be disclosed on closing.
Victoria’s Secret completes separation from Bath & Body Works
Victoria’s Secret has completed its separation into an independent, publicly trade company from Bath & Body Works, with the company having traded on the New York Stock Exchange under the ticker VSCO.
LVMH chief Bernard Arnault usurps Jeff Bezos as world’s richest man as Amazon Q2 sales fall short of analyst expectations
VMH CEO Bernard Arnault has beaten Amazon’s Jeff Bezos to take the title as the world’s richest person, with Bezos’ net worth dropping US$13.9 billion last week following Amazon’s Q2 earnings falling short of analyst expectations.
Rihanna selects all-black women biker gang Caramel Curve to market size-inclusive Savage X Fenty lingerie brand
Rihanna has appointed the all-black Caramel Curve female biker gang as the face of her size-inclusive Savage X Fenty lingerie brand,
The Vitamin Shoppe announces expansion into South Korea with e-commerce and online marketplaces
U.S. nutritional retailer The Vitamin Shoppe has announced its expansion into South Korea with the launch of a directly-owned and operated e-commerce busines
Square acquires Afterpay in US$29 billion deal as ‘buy now, pay later’ finance options soar in popularity
Payment company Square has acquired ‘buy now, pay later’ provider Afterpay in a US$29 billion deal, making it the largest takeover bid in Australian history, according to FT.com.
Sally Beauty Holdings reports strong Q3 2021 sales and profit growth
Sally Beauty Holdings has reported consolidated net sales of US$1.02 billion, a YOY increase of 45 percent, mainly driven by growing consumer confidence in the U.S. post pandemic, as well as easing COVID-19 restrictions globally.
Kim Kardashian receives cease and desist letter for new SKKN trademark from Beauty Concepts
Kim Kardashian has been dealt a blow for her latest beauty venture, having received a cease and desist letter from Beauty Concepts for the SKKN trademark.
P&G reports net sales rise of 7 percent for Q4 and FY21
Procter & Gamble has announced its fourth quarter and fiscal year 2021 results. The US FMCG giant saw net sales rise 7 percent in the final three months of the financial year for an overall net sales rise of 7 percent for the year, hitting a total of US$76.1 billion. Organic sales rose 4 percent in the final quarter, and 6 percent over the year.
Beautycounter unveils talc-free make-up line
Clean beauty brand Beautycounter has launched the first product from its much-vaunted talc-free make-up line, according to a report published by Elle.
L Brands to invest US$90 million in workplace reform
L Brands has revealed that it has settled a lawsuit centred on workplace misconduct and agreed to sweeping workplace reforms, according to a report published by Bloomberg.
P&G names new president and CEO
Procter & Gamble has elected Jon R Moeller, Vice Chairman and COO, as its new President and CEO, effective November 1, 2021.
Garnier launches shampoo bars in the US
L’Oréal-owned Garnier has launched its Whole Blends Shampoo Bars onto the US market. Formulated with less water than their liquid equivalent and zero plastic packaging, the launch forms part of the brand’s wider sustainability strategy.
BLEACH London opens first US salon
UK hair color specialist Bleach London has crossed the pond, opening its first salon in the US, according to a report published by Forbes.
MOB Beauty launches recycling-by-mail program
MOB Beauty has announced the launch of a mail back program for Pact, a non-profit collective launched by the sustainable cosmetics brand and retailers Credo and Hudson’s Bay, and charged with reducing beauty packaging waste.
Twitter to pilot e-commerce functionality
Twitter has launched a pilot in the US to test an e-commerce functionality, according to a report published by Tech Crunch.
Dow reports better-than-expected Q2 sales as reopening economies boost consumer spending
Dow Chemicals has reported better-than-expected Q2 sales as reopening economies bolster consumer spending post pandemic lockdowns, according to a report by Reuters.
Bulgari unveils Eiza González as its first Latin American ambassador for North America
Mexican Actress Eiza González has been named as Bulgari’s first Latin American ambassador for the North American market.
Revlon partners with Megan Thee Stallion on ‘Hot Girl Sunset’ make-up collection; launches on StockX
Revlon has partnered with U.S. rapper Megan Thee Stallion on a new make-up collection, named Hot Girl Sunset.
Coty appoints Constantin Sklavenitis as Chief Prestige Brands Officer
oty has announced the appointment of Constantin Sklavenitis as its new Chief Prestige Brands Officer, effective 6thSeptember.
Drug delivery specialist Aptar acquires majority stake in digital health company Voluntis
rug delivery and consumer dispensing company AptarGroup has signed a share purchase agreement for the majority stake in French digital therapeutics (DTx) developer Voluntis.
Macy’s appoints Maly Bernstein as Chief Executive Officer
U.S. department store Macy’s has announced the appointment of Maly Bernstein as its new Chief Executive Officer, effective 13th September, 2021.
Johnson & Johnson reports robust Q2 growth
Johnson & Johnson has announced Q2 reported sales of US$23.3 billion, a YOY rise of 27.1 percent, driven by strong sales and earnings across the medical device and pharma sectors, with consumer health also reporting growth.
Packaging company TricorBraun acquires SGB Packaging Group
TricorBraun has acquired New Jersey-based SGB Packaging Group, expanding its foothold in the cosmetics, skin care, fragrance and personal care industries.
The Estee Lauder Companies names EVP Global Transformation and Category Leadership
The Estee Lauder Companies has announced the promotion of Daniel Mahler to Executive Vice President, Global Transformation and Category Leadership, effective immediately.
Kim Kardashian West files trademark for SKKN; reality star set to launch new beauty line
Kim Kardashian West has filed a trademark for the name SKKN, according to a report by TMZ.com.
LVMH buys majority stake in Virgil Abolh’s Off White label; designer lands bigger role
LVMH has become a majority investor in Virgil Abloh’s Off White label, having jointly agreed to pursue new projects across luxury categories.
Ulta and Target announce brands and first locations ahead of August shop-in-shop launch
Ulta and Target have announced the brands and first locations for the Ulta Beauty at Target shop-in-shop concepts, due to roll out in August.
Cannabis brand Pure Beauty raises US$5 million in convertible note funding
U.S.-based cannabis brand Pure Beauty has raised US$5 million in convertible note funding from a group of investors.
Johnson & Johnson exploring plan to offload talc liabilities into bankruptcy
Personal care giant Johnson & Johnson is reportedly exploring plans to offload the liabilities from its ongoing baby powder litigation into a new business, which would then declare bankruptcy, according to a report by Reuters.
Youth To The People bolsters leadership team; looks to bolster growth momentum
Skincare company Youth To The People has expanded its leadership team, appointing Tiffany Plater as the company’s first Senior Vice President of Marketing and Armine Charkhchyan as the first Senior Vice President of Operations and Product Development, effective immediately.
Procter & Gamble eyes Gen Z with new brand ‘for body and mind’, Quiet & Roar
Procter & Gamble has announced the launch of a new, wellness-aligned brand of gentle body washes, scrubs and lotions, named Quiet & Roar.
Johnson & Johnson recalls sunscreens found to contain benzene
Johnson & Johnson has issued a voluntary recall for all lots of five Neutrogena and Aveeno aerosol sunscreen product lines to the consumer level after internal tests found low levels of benzene in some of the products.
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