THE DETAILS  The company’s pre-tax profit surged by 43% to £111.6 million, up from £77.8 million the previous year. This growth was driven by strong retail store performance, increased sales volume, and continued expansion of its Own Brand products. Superdrug opened 14 new stores in key locations and modernized 45 existing stores, enhancing the customer shopping experience.

THE WHY? Superdrug’s financial success is attributed to strategic investments in store expansion and modernization, a strong focus on competitive pricing, and continued innovation in product offerings.

The post Superdrug Reports Robust Financial Performance for 2023 appeared first on Global Cosmetics News.

THE DETAILS In an exchange filing, Nykaa announced that Nysaa Cosmetics Trading, a single-member Limited Liability Company, will focus on international exports and the sale, trade, and retail of beauty and personal care products. This includes women’s cosmetics, toiletries, beauty and hair care products, perfumes, and beauty soaps.

THE WHY?  This move follows Nykaa’s partnership with UAE-based Apparel Group in 2022 to enter the Gulf Cooperation Council (GCC) region. Earlier this year, the company launched a Nysaa-branded store in Dubai, featuring international brands like Kylie Cosmetics, Kay Beauty, Rituals, and Stila. Nykaa plans to open 70 stores in the GCC over the next five years, aiming for a 7% share in the GCC prestige beauty market. Domestically, Nykaa projects a CAGR of mid-to-late 20% in its beauty business until FY28 and anticipates its fashion vertical to grow 2.5-3X over the next three years.

The post Nykaa Expands into the Middle East with New Subsidiary in Qatar appeared first on Global Cosmetics News.

THE DETAILS  Avon’s research reveals that nearly a third of British women face barriers when starting their own business, including access to finance, lack of confidence, and not knowing where to start. In her new role, Davies will host masterclasses to coach and mentor Avon Reps, offering insights on how to grow their businesses and lead teams.

THE WHY?  Her appointment comes as part of Avon’s ongoing commitment to empowering women by providing them with the tools and resources needed to succeed. Avon Reps have the flexibility to earn extra income or become Avon Leaders, supporting and training their own teams.

The post Sara Davies Appointed as Avon UK’s Chief Inspiration Officer appeared first on Global Cosmetics News.

THE DETAILS  London-listed Huddled will pay a “modest sum” for a 75% stake in Boop Beauty.

THE WHY?  This acquisition aligns with Huddled’s strategy to grow its presence in the e-commerce space while addressing the issue of excess stock in the beauty industry. The additional working capital will enable Boop Beauty to expand its inventory and enhance customer acquisition efforts, positioning it for substantial growth.

The post Huddled Acquires Surplus Beauty Seller Boop Beauty appeared first on Global Cosmetics News.

THE DETAILS  The funding round was led by Lucas Venture Group and enables BoldHue to enter the growing market for beauty-tech solutions. BoldHue’s core product is a device that dispenses custom-blended foundations based on facial scans, aiming to eliminate the guesswork in finding the perfect foundation shade. Dubbed the “Keurig for makeup,” the device promises to create a perfectly matched foundation in minutes at home. Co-Founder and CEO Rachel Wilson expressed gratitude for the investor support, noting that the funding validates their technology and propels their mission forward. The funds will be used for product launch, team building, and a nationwide marketing campaign.

THE WHY?  This investment will enable BoldHue to address its existing waitlist of over 40,000 customers and begin shipping its first 10,000 units this fall. The company aims to revolutionize the beauty-tech industry by making personalized foundation accessible to all consumers and makeup enthusiasts, further enhancing their makeup routines with innovative technology.

The post BoldHue Secures US$3.4 Million in Seed Funding for Personalized Foundation Device appeared first on Global Cosmetics News.

THE DETAILS Shares of Macy’s saw a 1.1% increase in after-market trading following the news. The revised offer represents a nearly 43% premium over Macy’s closing price on December 8, when initial deal talks surfaced. Previously, Arkhouse, holding a 4.4% stake in Macy’s, had incrementally increased their offer price from US$21 to US$24 per share. The department store chain had previously ended a proxy contest with Arkhouse by appointing two nominees, Richard Clark and Richard Markee, to its board in April. These board members are now part of the finance committee tasked with evaluating the buyout proposal.

THE WHY? The increased offer highlights Arkhouse and Brigade Capital’s commitment to acquiring Macy’s amidst a competitive market. By raising the bid, they aim to gain majority control and leverage Macy’s assets for potential strategic advancements. The ongoing engagement with Macy’s board indicates a thorough evaluation process, considering the significant premium offered to the retailer’s shareholders.

The post Arkhouse and Brigade Capital Raise Macy’s Buyout Offer to US$6.9 Billion appeared first on Global Cosmetics News.

THE DETAILS Currently, EU regulations exempt packages purchased online from non-EU countries from customs duties if their value is under €150 (US$161). In 2023, approximately two billion parcels with declared values below this threshold entered the EU, straining customs capacities. The EU has been deliberating abolishing this limit as part of a broader customs reform project proposed in May 2023, with plans to expedite its adoption to counter the influx of low-cost imports.

THE WHY? The proposed duty aims to level the playing field for EU businesses by addressing the surge of cheap imports that benefit from tax exemptions.

The post EU Targets China’s Temu and Shein with Proposed Import Duty Reform appeared first on Global Cosmetics News.

THE DETAILS Manfredi confirmed his departure on LinkedIn, marking the 20th anniversary of the “Real Beauty” campaign as a fitting conclusion to his journey. During his career at Unilever, he held various influential roles, including global VP of the Dove master brand and executive VP for Dove. Under his leadership, the “Real Beauty” campaign became one of the most awarded campaigns, significantly expanding Dove’s customer reach. In 2023, Dove’s innovative marketing efforts contributed to an 8.9% sales boost for Unilever’s Personal Care division, accounting for 23% of its $64 million turnover.

THE WHY? Manfredi’s departure marks the end of an era for Dove, a brand that has set the standard for purpose-driven marketing. His work, especially the “Reverse Selfie” campaign, highlighted the impact of digital image editing on self-esteem and body positivity. His legacy at Dove underscores the importance of combining purpose with profit, driving social change and business success.

The post Dove CMO and ‘Real Beauty’ Visionary Alessandro Manfredi Departs Unilever appeared first on Global Cosmetics News.

THE DETAILS  Founded by beauty industry veteran Katy Cottam, Luna Daily experienced a remarkable +1000% year-over-year increase in sales in 2023. This significant growth highlights the brand’s potential and market appeal.

THE WHY? Unilever Ventures’ new investment brings global expertise and resources to Luna Daily at a pivotal time in its growth. This partnership will enable Luna Daily to expand its product range further and continue its mission to cater to all ages and stages of womanhood.

The post Luna Daily Secures Investment from Unilever Ventures to Expand Body Care Range appeared first on Global Cosmetics News.

THE DETAILS  The findings, published in Applied and Environmental Microbiology, a journal of the American Society for Microbiology, mark the first investigation of anaerobic bacteria in tattoo inks. The study revealed that unopened and sealed tattoo inks could harbor both anaerobic and aerobic bacteria. Researchers conducted the study using 75 tattoo inks from 14 different manufacturers, discovering that around 35% of the products were contaminated with bacteria, regardless of sterility claims on the labels.

THE WHY?  The study underscores the need to develop more efficient microbial detection methods and conduct deeper research into microbial contamination in tattoo inks to safeguard consumer health.

The post Bacterial Contamination Found in Commercial Tattoo Inks: New Study Reveals Infection Risks appeared first on Global Cosmetics News.