G7 poised to endorse 15 percent multinational tax
The G7 looks set to endorse a proposal to impose a global minimum tax on the world’s largest corporations, according to a report published by Reuters.
L Brands names new Board member
L Brands has announced that it has appointed JK Symancyk as an independent member of its Board of Directors, effective immediately. With this latest addition, the Board now consists of 11 Directors, 10 of whom are independent and six female.
Simona Cattaneo resigns as Coty President, Luxury Brands
Coty has announced that Simona Cattaneo is to step down from her role as President, Luxury Brands after five years at the US beauty behemoth. She will leave the company this summer and her successor is yet to be announced.
Google to pilot AI-powered dermatology assist tool
Google is set to pilot an AI-powered dermatology assist tool to make it easier to identify skin conditions. The internet search engine’s web-based application analyses skin from three images taken with a phone camera and a questionnaire and will provide users with a list of possible matching conditions that they can then research further.
Oatly Group raises US$1.4 billion via IPO
Oatly Group announced the pricing of its initial public offering on May 19, 2021, with trading commencing the following day. Some 84.376,000 American Depositary Shares were offered at US$17 a-piece.
Shiseido Americas promotes Vincent Ferrato to CFO
Shiseido Americas has announced the appointment of Vincent Ferrato as Chief Financial Officer, effective July 1, 2021.
Bobbi Brown, Sephora and Clinique sign up for Facebook Live Shopping Fridays debut
A host of beauty brands have signed up to take part in the debut of Facebook’s Live Shopping Friday concept, including Bobbi Brown, Sephora, Clinique and Dermalogica.
The Estée Lauder Companies increases ownership in Deciem
The Estée Lauder Companies (ELC) has completed the first phase of increasing its ownership in The Ordinary parent company, Deciem.
Target reports 23 percent Q1 sales rise as investment in private-label brands and pandemic services pay off
Target has reported a 23 percent Q1 sales leap, with consumers beginning to return to stores as the U.S. vaccination drive continues.
Sephora Canada to allocate 25 percent of brand offering to BIPOC-owned brands by 2026
Sephora Canada has cemented its commitment to dedicate 25 percent of its brand offerings to BIPOC-owned brands by 2026, a move which comes as part of The Fifteen Percent Pledge, which began in the U.S. last year.
Sally Beauty Holdings appoints Ellery Fisher as GVP of E-commerce and Digital
Sally Beauty Holdings has announced the appointment of Ellery Fisher as Group Vice President of E-Commerce and Digital.
Walmart raises full year guidance following strong quarter as shoppers return in-store
Walmart has raised its full year guidance after U.S. like-for-like sales in the February – April quarter rose 6 percent year on year, with U.S. government stimulus checks and a return to greater normality boosting spending.
Gillette Venus launches new pubic hair and skin collection alongside #SayPupic campaign
Gillette Venus has launched its Venus for Pubic Hair & Skin Collection alongside a new campaign, #SayPubic, which aims to encourage women to use the anatomical term.
American Securities acquires Conair
Conair Corporation has announced that it has been acquired by affiliates of American Securities. Financial terms of the transaction were not disclosed.
Sunday II Sunday to launch on Sephora.com
Sunday II Sunday has announced its imminent launch on Sephora.com. The Infinite Looks-owned brand will make its debut on May 25, 2021, granting women within the textured hair community increased access to products formulated for their hair post-physical activity.
Huda Beauty sponsors NASCAR driver Toni Breidinger
Huda Beauty was named as the sponsor for NASCAR’s first Arab-American female driver, Toni Breidinger for her track debut at General Tire 200 at Telladega Speedway in April.
Aptar ups prices for beauty, personal and home care products
AptarGroup has announced that it will increase prices for its beauty, personal care and home care products by 5 percent, effective June 1, 2021.
Coty drafts in Priyanka Chopra-Jonas to Max Factor role
Coty has announced that it has appointed actor Priyanka Chopra-Jonas as Max Factor’s new Global Ambassador and Creative Collaborator.
Ama Labs owner pleads guilty to defrauding customers
The owner and Executive Director of Ama Laboratories, Gabriel Letizia Junior, pled guilty to defrauding customers by reporting laboratory results for panellist testing that were not fully performed.
P&G teams up with GLAAD to up LGBTQ visibility in advertising
Procter & Gamble has committed more than US$1 million over three years and partnered with GLAAD in a project aimed to up visibility for the LGBTQ+ community.
Coty reports Q3 2021 decline as beauty sales hit by lockdowns
Coty has reported a Q3 2021 fall of 3.3 percent as European lockdowns dented sales of its beauty products.
AmorePacific to close Innisfree stores in North America
AmorePacific is set to pull its Innisfree brand from the North American market, and has already started to shutter stores in the region.
Harry’s Inc collaborates with Ashley Graham on new line of body hair removal kits
Harry’s Inc has partnered with Ashley Graham, with the model to create and sell a line of body hair removal kits, according to a report by Bloomberg.
Macy’s announces $235 million investment in flagship location
U.S. retailer Macy’s has announced it is to invest $235 million into its flagship Herald Square location and the surrounding neighbourhood, in a bid to assist the recovery of New York.
The Estée Lauder Companies appoints ex-Biden staff Meridith Webster new EVP, Global Communications and Public Affairs
The Estée Lauder Companies has announced the appointment of Meridith Webster into the newly-created role of Executive Vice President, Global Communications and Public Affairs, effective 17th May, 2021.
Revlon Q1 net sales fall 1.8 percent; announces expanded restructuring efforts
evlon has reported a Q1 2021 net sales drop of 1.8 percent, falling to $445 million from $453 million year on year. The beauty company also reported the renaming and expansion of its restructuring plan to the Revlon Global Growth Accelerator (RGGA).
Meghan Markle and Prince Harry’s non-profit Archewell Foundation announces multi-year global partnership with Procter & Gamble
Meghan Markle and Prince Harry’s Archewell Foundation has announced a multi-year global partnership with personal care giant Procter & Gamble, which will focus on building more compassionate communities.
L Brands to spin off Victoria’s Secret as standalone company
L Brands has announced it is to spin off Victoria’s Secret as a standalone company rather than sell the brand, according to a report by the NY Times.
Legal opinion slams Citi verdict in Revlon row
A group of legal experts has criticised the outcome of a case that has prevented Citigroup from recouping finds mistakenly paid to Revlon creditors, according to a report published by Bloomberg.
P&G launches Tokyo 2020 Olympics Campaign
Procter & Gamble has announced the release of its Tokyo 2020 Olympics Campaign, which shines a spotlight on the Olympic and Paralympic athletes who are not only achieving greatness in their sport but also taking action for good.
L’Oréal USA prevails in Olaplex appeal
The United States Court of Appeals for the Federal Circuit has vacated in part, dismissed in part and remanded a final judgement that awarded Olaplex US$66 million for trade secret misappropriation, breach of a non-disclosure agreement and patent infringement.
Coty partners with People for live beauty event
Coty and People magazine are partnering for a live beauty event, set to take place on May 19, featuring actress Lili Reinhart.
Procter & Gamble completes US$2 billion notes offering
Procter & Gamble has completed a US$2 billion offering of two tranches of notes, according to a press release issued by Fried Frank, who acted as counsel to lead underwriters, Citigroup Global Markets, Goldman Sachs and Morgan Stanley.
Living Proof names new CMO
Living Proof has announced a new addition to its senior leadership team; Alexis Tedesco has joined the Boston-based hair care brand as Chief Marketing Officer.
Honest Company values upcoming IPO at $1.4bn; signals come back for ailing business
Jessica Alba’s brainchild the Honest Company is set to list on the Nasdaq exchange at a valuation of $1.4bn, signalling a comeback for the business, according to a report by the FT.com.
Vita Coco water brand expands into haircare market
Coconut water brand Vita Coco has expanded into the haircare market with the launch of a range of shampoos, conditioners and treatments.
Walgreens: Co-Chief Operating Officer Alex Gourlay to leave post
Walgreen’s Co-Chief Operating Officer Alex Gourlay is set to leave his post, effective 17th May, according to a report by Bloomberg.com.
Bouncing back: The Estee Lauder Companies’ sales soar 16 percent yoy in Q3 2021
The Estee Lauder Companies has reported its results for the third quarter of fiscal 2021. The US prestige beauty behemoth saw sales climb 16 percent on a reported basis from the prior-year period to hit US$3.86 billion.
Chanel owners sell sizeable Ulta stake
The investment firm that manages the wealth for the Wertheimer family, who own a controlling interest in Chanel, has sold the majority of its stake in Ulta Beauty, according to a report published by Bloomberg Wealth.
Has the pandemic Amazon habit cemented? Sales soar 44 percent in 1Q 2021
Amazon has announced its results for the first quarter of the current financial year. The e-commerce behemoth saw sales soar 44 percent versus the same period in 2020 to US$108.5 billion, while operating income rose to US$8.9 billion compared to US$4 billion in Q1 2020.
P&G Ventures announces its next Virtual Innovation Challenge
P&G Ventures is accepting submissions from entrepreneurs, inventors and start ups for its next Virtual Innovation Challenge.
L’Oréal USA to open Los Angeles HQ
L’Oréal USA has announced that it will be opening a second company headquarters in California in early 2022.
Johnson & Johnson opens JLABS hub in Washington; focuses on diversity
Johnson & Johnson has opened the doors of its JLABS hub in Washington, D.C., which will serve as a hub for up to 50 start-ups
L’Oréal wins adenosine patent suit
A US Federal Court has found in favor of L’Oréal in a patent infringement suit where the French cosmetics brand stood accused of impinging on a patent held by the University of Massachusetts and Carmel Laboratories covering skin care ingredient adenosine, according to a report published by Life Sciences Intellectual Property Review.
Is Victoria’s Secret up for sale again?
L Brands is rumored to have restarted talks over a possible sale of popular underwear brand Victoria’s Secret, according to a report published by Bloomberg quoting sources ‘familiar with the matter’.
Coty comeback: CoverGirl welcomes 90s Ambassador Niki Taylor back to the fold
As part of its wider growth acceleration strategy, Coty is seeking to strengthen CoverGirl’s appeal to a broader US consumer base. CoverGirl will build on its heritage as a skin care adjacent make-up brand, part and parcel of which is a major new marketing campaign for its anti-aging foundation, Simply Ageless.
Luxury, sustainability and skin care the priority as Coty unveils growth acceleration strategy
Coty has unveiled its long-term strategy, underpinned by six priorities for sustainable growth. The initiatives build on the actions taken by the US beauty behemoth over the past year that have accelerated its shift to sustainable and profitable growth.
L’Oréal appoints new CDO as Lubomira Rochet defects to JAB
L’Oréal’s Chief Digital Officer, Lubomira Rochet, has tendered her resignation after seven years with the company. The French beauty giant has announced Asmita Dubey as her successor, effective immediately.
Lizzo bares all for Dove’s Self Esteem Project
Unilever-owned Dove has partnered with Lizzo, Shonda Rhimes, Megan Crabbe and Nyome Nicholar-Williams for the latest incantation of its #DoveSelfEsteemProject, which aims to make social media a more body positive space for the next generation, according to a report published by Us.
Beiersdorf to shutter Cleveland plant; 134 jobs at risk
Beiersdorf has notified the Tennessee Department of Labor and Workforce Development that it will be closing its Coppertone plant in Cleveland, Tennessee, resulting in permanent layoffs for all staff, according to a report published by Powder & Bulk Solids.