Lauder calls time on Becca Cosmetics
The Estee Lauder Companies-owned Becca Cosmetics has announced that it will cease to trade from September this year.
Citigroup seeks court order to freeze Revlon funds
Citigroup’s next step in its ongoing battle to recover funds mistakenly paid to Revlon creditors last summer is to seek an extension to the freezing order currently in place on the US$500 million sum, according to a report published by Bloomberg.
Ardagh to merge business with Gores Holdings
Ardagh Group has announced that it is set to spin off its metal packaging unit, which will then be combined with Gores Holdings to create an independent public company.
Estée Lauder Companies acquires majority stake in No Ordinary parent Deciem in $1bn deal
The Estée Lauder Companies (ELC) has acquired a majority stake in The Ordinary parent company Deciem in a $1 billion deal, which values the company at $2.2 billion.
MAC names former Revlon executive SVP Global Marketing
Lauder-owned MAC has named Aida Moudachirou Rebois as Senior Vice President, Global Marketing, effective immediately.
Kohl’s battles to keep activist investors at bay
Kohl’s has issued a statement in response to an open letter published by an activist investor group comprising Macellum Advisors, Legion Partners Holdings, Ancora Advisors and 4010 Capital.
The Avon Company launches vegan clean skin care line
The Avon Company has debuted a vegan clean skin care brand, Farm Rx, according to a report published by Direct Selling News.
Kris Jenner to launch skin care line?
Kris Jenner could be poised to launch her own skin care line, according to a report published by The Cut, quoting E! News.
Glossier and ELF CEOs join Allbirds Board
Californian sneaker brand, Allbirds has announced two high-profile appointments to its board, according to a report published by WWD. Emily Weiss, CEO of Glossier and Mandy Fields, CFO at Elf Beauty will join the sustainable footwear brand’s Board, bringing the total number of Board Members to eight.
Walmart reports record Q4 and FY21 revenue
Walmart has reported its results for the final quarter of fiscal 2021. The US retailer saw revenue reach record levels, rising 7.3 percent yoy to US$152.1 billion.
IFF to sell off microbial controls business?
IFF is set to auction off its microbial controls business and food preparation unit, according to a report published by Bloomberg quoting sources ‘familiar with the matter’.
Secret unveils fruits of a decade of research, Derma+ deodorant
P&G-owned Secret has unveiled its first clinical-level sweat and odor protection with skin conditioners and soft-touch applicator, DERMA+ Antiperspirant. The skin-care adjacent antiperspirant is said to help promote visibly even skin tone, a key concern for women of color.
P&G’s Old Spice opens first barbershop; doubles as content studio
Procter & Gamble-owned Old Spice has opened its first barbershop and retail location in Ohio, U.S., with the space also acting as a content studio.
LVMH Chief Bernard Arnault teams up with ex-UniCredit CEO Jean Pierre Mustier to form SPAC for financial deals
LVMH head Bernard Arnault is teaming up with former UniCredit CEO Jean Pierre Mustier to launch a special purpose acquisition company (SPAC) in order to invest in European financial companies.
Citibank loses bid to recoup US$900 million mistaken payment of Revlon loan
A federal judge has ruled against Citibank recouping the accidental re-payment of a loan to a group of lenders of Revlon, which was mistakenly wired in August, 2020.
Poshmark expands into Australia following IPO
U.S. fashion and beauty e-tailer Poshmark is expanding its presence into Australia, a move that follows its January IPO, according to a report by Bloomberg.
Gillette launches new sustainable shaving brand Planet Kind
P&G-owned Gillette has launched a new shaving and skin care brand, which as its name – Planet Kind – suggests, promises to be kind to skin and the planet.
Garnier names Drew Barrymore as first celebrity Creative Director
L’Oréal-owned Garnier has announced that it has signed Drew Barrymore as its first celebrity Creative Director as well as the face of new clean beauty line, Whole Blends Sulfate-Free Remedy Collection.
Conde Nast caught up in rent dispute as publisher seeks to scale back office space
Conde Nast has declined to pay some US$2.4 million in rent for its One World Trade Center space due to a dispute with its landlords, according to a report published by The Wall Street Journal, quoting a bond document filing.
P&G appoints B Marc Allen to Board of Directors
Procter & Gamble has announced the appointment of B. Marc Allen, Chief Strategy Officer and SVP of Strategy and Corporate Development at The Boeing Company, to its Board of Directors, effective immediately.
L’Oréal FY2020: Record online sales accounts for more than a quarter of 2020 total as recovery continues
L’Oréal has announced its results for the final quarter and full year of 2020. The French beauty giant saw sales rise 4.9 percent yoy (like-for-like) in the final three months of the year for an overall drop of 4.1 percent for 2020 versus 2019.
Microsoft eyes up potential Pinterest deal
Microsoft has approached Pinterest with a view to acquiring the US$51 billion social media site, according to a report published by the Financial Times.
Walgreens Boots Alliance launches corporate social responsibility report
Walgreens Boots Alliance has announced the launch of its At the Heart of Health 2020 Corporate Social Responsibility Report. The document outlines the impact of the drugstore operator’s commitment to diversity and inclusion, sustainability and improving access to healthcare.
Inolex expands leadership team to focus on manufacturing excellence
Inolex has announced a series of new appointments to its leadership team. The cosmetics ingredients supplier has welcomed Kevin Hrebenar as VP Operations; Alanna Smith has been promoted to Site Lead Charlotte, USA; and Ted Laarkamp will become VP, Global Supply Chain.
Sephora relaunches Accelerator Incubator program with focus on BIPOC founders
Sephora has announced the re-launch of its Accelerator Incubator program, which will this year focus exclusively on BIPOC founders.
Old Spice and Secret launch refillable antiperspirant packaging
Procter & Gamble’s Old Spice and Secret brands are launching refillable antiperspirant cases, with both brands expanding their offering of aluminum free deodorants in recyclable paper tube packaging, made of 90 percent recycled paperboard and certified by the Forest Stewardship Council (FSC).
LVMH and Rihanna put ready-to-wear operations on hold as pandemic hits demand
LVMH and Rihanna have announced that they are to put the singer’s ready-to-wear operations on hold due to falling demand as a result of the pandemic.
L Brands announces retirement of CFO Stuart Burgdoerfer
L Brands has announced the retirement of Stuart Burgdoerfer, Chief Financial Officer and interim CEO of Victoria’s Secret, effective August 2021.
Walmart acquires Thunder ad tech ahead of self-serve tool launch
Walmart has acquired the technology and IP behind ad-tech company Thunder, which will play a key part in the rollout of its new self-serve display advertising platform set to roll out later this year.
Instagram goes vertical; social media app confirms new Stories layout
Instagram has confirmed it is developing a new Vertical Instagram Stories feature, similar to the vertical navigation format adopted by TikTok.
TikTok unveils e-commerce drive to challenge Facebook et al
TikTok is said to be gearing up for a huge e-commerce push throughout the U.S. according to the Financial Times, with sources stating they have viewed new features set to be introduced this year.
U.S. congress re-introduces bill to legalize CBD supplements
The U.S. congress has introduced a new bill that will approve CBD for use in dietary supplements, a move that aims to push the FDA into approving the ingredient, according to Natural Products Insider.
Coty Q2 2021: Sales plunge 16 percent over holiday season
Coty has reported its results for the second quarter of the current financial year. The US beauty behemoth saw sales drop 16 percent (18 percent LFL) in the three months to December 31, 2020 versus the same period last year. This was, however, 1 percentage point ahead of its Q1 performance, leading Coty to hail its performance as ‘continued improvement’.
TikTok plans e-commerce drive
TikTok is gearing up to introduce a number of features to its site that will enable e-commerce and affiliate marketing this year, according to a report published by the Financial Times.
No7 to boost Shecovery with Unstoppable Together campaign
No7 has launched its first multi-year campaign in the US. Dubbed Unstoppable Together, the initiative will see the WBA-owned brand partner with organizations and individuals who are focused on helping support women defy stereotypes and enabling them to reach their full potential.
LVMH orders Tiffany workers back to the office
New Tiffany owner, LVMH is said to have ordered employees of the jewelry brand back to the office, starting in March, according to a report published by The Wall Street Journal.
Bounce back: The Estee Lauder Companies sees sales rise 5 percent in Q2 2021
The Estee Lauder Companies has reported net sales of US$4.85 billion for the second quarter of the current fiscal year, up 5 percent on a reported basis on the prior-year period. The US prestige beauty manufacturer also saw net earnings rise to US$873 million versus US557 million in the three months to December 31, 2019.
Hailey Bieber files trademark for beauty brand
Hailey Bieber has filed a trademark application for naming rights for the name Rhode, according to a report published by Refinery 29, quoting TMZ as its source.
Ulta Beauty announces diversity and inclusion commitments
Ulta Beauty has pledged to invest some US$25 million in a series of diversity and inclusion commitments it has unveiled for 2021.
Pull Up For Change teams up with beauty brands to launch Make It Black campaign
Pull Up for Change Founder Sharon Chuter has launched a new campaign, named Make it Black, which aims to ‘shake up the beauty landscape’ by redefining what it means to be Black and raise money for emerging Black founders.
Estée Lauder Companies teams up with Howard University to empower women students and alumnae with She’s Howard: Own Your Power program
The Estée Lauder Companies has teamed up with Howard University to embark on a mission to empower both female students and alumnae via the new She’s Howard: Own Your Power program.
L’Oréal USA unveils inclusive beauty fund
L’Oréal USA has partnered with NAACP to present a new grant program, named the Inclusive Beauty Fund. The US branch of the French beauty giant will award 30 one-time grants of US$10,000 to Black-owned small businesses, entrepreneurs and professional services across the US beauty industry.
Booksy raises US$70 million in Series C funding round
Beauty and wellness appointment booking app Booksy has raised US$70 million in a Series C funding round, according to a report published by Tech Crunch.
Lose: Lose – Federal judge rejects Olaplex and L’Oréal patent appeal
The US Court of Appeals for the Federal Circuit has rejected an appeal against a decision in the ongoing battle between Olaplex and L’Oréal, which was challenged by both parties, according to a report published by the World Intellectual Property Review.
The Estee Lauder Companies announces sustainability goals for travel retail
The Estee Lauder Companies has announced sustainability goals specific to its Travel Retail unit.
LVMH Luxury Ventures and L’Oréal BOLD support social selling platform Replika Software in Series A funding round
Social selling platform Replika Software has completed its Series A funding round, backed by the likes of LVMH Luxury Ventures and L’Oréal BOLD, the investment arm of their parent companies.
Walgreens Boots Alliance makes history with Starbucks’ Rosalind Brewer CEO appointment
Walgreens Boots Alliance (WBA) has announced the appointment of Starbucks COO Rosalind (Roz) Brewer as its new Chief Executive Officer, replacing Stefano Pessina, making her the first woman and first African American to head a Walmart division.
L’Occitane USA files for bankruptcy; aims to close pandemic-hit stores
The U.S. arm of beauty retailer L’Occitane has filed for Chapter 11 bankruptcy this week in the hope of reducing its number of stores that have been hit by losses due to store closures.
Bed Bath & Beyond appoints Mara Sirhal as SVP and GM of Harmon Health and Beauty Stores
Bed Bath & Beyond has appointed Mar Sirhal as Senior Vice President and General Manager for Harmon Health and Beauty Stores, effective immediately.
Now Lauder shuffles supply chain leadership
The Estee Lauder Companies has announced that Gregory F Polcer, Executive Vice President, Global Supply Chain will retire this summer after 13 years with the company.
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