Ghost raises US$30 million in series B funding round
Ghost has announced that it has raised US$30 million in a Series B funding round led by Cathay Innovation. Existing investors Union Square Venture, Equal Ventures and Eniac Ventures also participated in the round.
Is this the end of queuing? Sephora to usher in Tap to Pay on iPhone
JP Morgan Payments has announced that it is launching Tap to Pay on iPhone for its US clients –Sephora will be the first to roll out the new capability across its US freestanding stores. The technology allows merchants to accept contactless payments from iPhone users without a physical terminal.
Coty reports double digit growth in sales and profits in Q4 2023
Coty has announced its results for the fourth quarter of fiscal 2023. The US beauty behemoth saw LFL sales increase 17 percent, ahead of its recently raised guidance of 12 to 15 percent. Adjusted EBITDA soared 25 percent to US$165.4 million.
Evolus names Chief Marketing Officer
Evolus has named Tomoko Yamagishi-Dressler as Chief Marketing Officer. Yamagishi joins from Beautyblender where she held the role of Global Chief Marketing Officer.
MAC Cosmetics debuts first new foundation in years
MAC Cosmetics is hoping to catch the attention of young millennial or Gen Z, multi-ethnic consumers with its latest launch. The Estee Lauder Companies-owned make-up brand is launching a new range of foundations with an 80 percent serum base, designed to offer lighter coverage for radiant skin.
Macy’s reports better than expected sales for Q2 2023
Macy’s has reported better-than-expected top and bottom-line results for the second quarter of the current financial year.
Johnson & Johnson to hold 9.5 percent stake in Kenvue
Johnson & Johnson has announced the preliminary results of its Kenvue share exchange offer. The US health care firm intends to accept 190, 955,436 of the tendered shares in exchange for the 1,533,830,450 shares of Kenvue common stock it owns.
Walmart International CEO and President to retire
Walmart has announced that Judith McKenna, President and CEO of its International business, has decided to retire after 27 years with the supermarket chain.
A new take on nutricosmetics? Dove unveils Juice Press collab
Dove and Juice Press have announced the launch of limited-edition Dove x Juice Press smoothies, inspired by the Unilever-owned brand’s Exfoliating Body Scrubs.
ELC FY2023: Sales drop 10 percent and EPS plummets 57 percent
The Estee Lauder Companies has reported its results for the final quarter and full year of fiscal 2023. The US prestige beauty behemoth saw net sales drop 10 percent in the 12 months ended June 30, 2023 versus the prior year, to US$15.91 billion.
Coty renews adidas license
Coty has announced that it has renewed its long-term license agreement with adidas. A shared commitment to sustainability remains a central feature of the extended agreement, evidenced in the development of the Active Skin & Mind range.
Revlon tongue-in-cheek response to Selling Sunset star’s TikTok goes viral
Revlon has broken the internet with a TikTok post that’s racked up some 4.6 million views. The US make-up brand created the viral video in response to a piece uploaded by Selling Sunset star, Heather Rae El Moussa.
Target Q2 2023: Profit soars despite decline in sales
Target has announced its results for the second quarter of fiscal 2023. The US retailer delivered softer-than-expected sales but profitability beat expectations, with adjusted earnings per share of US$1.80, up 357.6 percent versus the same period in 2022.
Henkel names North America President
Henkel has announced the appointment of Pernille Lind Olsen as President of the North America region. Lind Olsen also serves as Corporate Senior Vice President Adhesive Technologies Packaging & Consumer Goods; and Regional Head Adhesive Technologies, North America.
Colgate partners with Hip Hop Public Health to release tooth-brushing song
Colgate’s Bright Smiles, Bright Futures program has teamed with Hip Hop Public Health to release a song designed to teach key elements of oral health to children.
American Exchange Group snaps up HatchCollective
American Exchange Group has announced the acquisition of HatchCollective. Terms of the deal were not disclosed.
Sally Beauty names Ukrainian brand winner of its 2023 Cultivate Accelerator Program
Sally Beauty has announced Lamel Makeup as the winner of its 2023 Cultivate Accelerator Program. The Ukrainian-born brand will receive US$15,000 in funding along with online and in-store distribution in the US.
Macy’s names Chief Customer and Digital Officer
Macy’s has named Massimo Magni as Chief Customer and Digital Officer. Magni joins the US retailer from McKinsey & Company, where he was a Senior Partner.
Function of Beauty to launch in Sephora
Bespoke beauty brand, Function of Beauty is set to launch at 300 Sephora locations across North America and online. The brand offers four core ranges, each catering to different hair types, which can then by further customized at home with added Goal Concentrates.
Act+Acre debuts in Sephora as demand for scalp care soars
Act+Acre has hit shelves in Sephora stores across the US. Some six products from the scalp care brand’s range will be available in 235 doors, while a wider range of 16 SKUs will be sold via the LVMH-owned retailer’s website.
Millie Bobby Brown unveils first fragrance
Millie Bobby Brown is set to launch her first fragrance. The new scent, Wildly Me will make its debut under the Stanger Things actor’s Florence by Mills label and is said to be inspired by a botanical garden.
Bergdorf Goodman beauty buyer to retire
Bergdorf Goodman has announced the planned retirement of Pat Saxby, Vice President and Divisional Merchandise Manager of Cosmetics and Fragrances. Saxby has worked for the New York department store for nigh on three decades.
Church & Dwight settles in lawsuit over benzene in Batiste
Church & Dwight has agreed to pay out US$2.5 million to settle a class action suit that alleges that the personal care manufacturer was aware that its Batiste dry shampoo products were contaminated with benzene.
Audrey Choi Elected to 3M’s Expanded Board
3M has elected Audrey Choi, previously the Chief Sustainability Officer and Chief Marketing Officer at Morgan Stanley, to its Board of Directors.
Amyris Files for Chapter 11 Bankruptcy
Amyris, Inc., a biotechnology firm, files for Chapter 11 bankruptcy and is undergoing operational and financial restructuring as a part of its strategic transformation.
Olaplex’s Forecast Tangles with Competition
Olaplex Holdings Inc. has revised its annual sales forecast downward due to reduced demand and growing competition.
One Million Moms Boycotts Aveeno
One Million Moms has expressed concern over an Aveeno Kids’ shampoo advertisement featuring a young boy dressed as a “ballerina astronaut.”
Push for Texture-Inclusive Cosmetology Training
The Professional Beauty Association (PBA) and the Texture Education Collective (TEC) collaborate to promote texture-inclusive legislation in New Jersey.
Shopify Q2 2023: Strong Financials
Shopify Inc. released its Q2 2023 financial results.
Avon Rings Up a Near 90% Early Tender Triumph!
Avon Products, Inc. announced the preliminary results of its offer to repurchase all outstanding 6.950% Notes due in 2043 and related consent solicitation.
J&J Talc Bankruptcy Filing Contested
Legal representatives of thousands of individuals alleging that Johnson & Johnson’s talc-based products led to their cancer diagnosis have approached a U.S. judge to implement a temporary ban, preventing J&J from placing its talc subsidiary into bankruptcy for the third time.
FDA Introduces Cosmetic Registration Guidelines Under MoCRA 2022
The U.S. Food and Drug Administration (FDA) released draft guidelines on cosmetic product facility registrations and product listings as part of the Modernization of Cosmetics Regulation Act of 2022 (MoCRA)
Rhyz Inc. Beautifies Portfolio with BeautyBio Acquisition
Rhyz Inc., a subsidiary of Nu Skin Enterprises Inc., has acquired the clinically proven skincare and beauty device brand, BeautyBio
Bahl & Gaynor ups stake in InterParfums as fragrance booms
Bahl & Gaynor has upped its stake in Inter Parfums. The investment firm filed documents with the US Securities and Exchange Commission revealing that it now owns 255.736 shares, up 12.5 percent.
Sephora champions diverse artists with launch of Sephora Sounds
Sephora has debuted a new initiative designed to support and amplify underrepresented emerging artists through its social platforms.
Overstock relaunches Bed, Bath & Beyond website post acquisition
Following a successful debut in Canada, Overstock has sent the US incantation of the new merged Overstock and Bed, Bath & Beyond websites live following its acquisition of the bankrupt retailer’s intellectual property assets for US$21.5 million.
CVS to lay off 5000 employees
CVS has announced plans to cut some 5000 roles in a bid to reduce costs. The US drugstore chain said that the cuts will be made to corporate positions in the main and that customer-facing roles would be unaffected.
Citi downgrades The Estee Lauder Companies downgraded to neutral
Citi has become the latest investment bank to downgrade The Estee Lauder Companies’ rating. Analysts for the firm lowered ELC to ‘neutral’ ahead of the US prestige beauty giant’s quarterly earnings report.
Revlon appoints Interim CEO
Revlon has announced that Debra Perelman is stepping down from her role as President and CEO and a Board member with immediate effect. She will serve as an advisor to the company for an unspecified transition period.
Charlotte Tilbury unveils Disney 100 collab
Charlotte Tilbury and Disney are both celebrating key milestones this year and to mark the occasion, the pair have teamed up to unveil a range of Disney-inspired limited-edition products.
Elf Beauty raises guidance as Q12024 sales vault 76 percent
Elf Beauty has announced its results for the first quarter of fiscal 2024. The mass market beauty brand saw sales leap a huge 76 percent to US$216.3 million and the brand gained 260 basis points of market share in the three months to June versus the prior year.
Walgreens Boots Alliance names Interim Global CFO as Kehoe departs
Walgreens Boots Alliance has announced that Manmohan Mahajan, Senior Vice President and Global Controller will take on the role of Interim Global Chief Financial Officer.
L’Oréal Professional to enter select Sephora stores
L’Oréal Professional has forged a specialty retail partnership with Sephora. Under the terms of the deal, the brand will make its debut in some 26 Sephora stores and online.
P&G hails ‘very strong finish’ to fiscal 2023 as net sales rise 5 percent
Procter & Gamble has reported its results for the fourth quarter and full year of fiscal 2023. The US FMCG giant branded its performance in the final three months of the year a ‘very strong finish’ as net sales rose 5 percent and diluted and core EPS jumped 13 percent.
Johnson & Johnson’s bid to file for chapter 11 foiled once again
A New Jersey court has foiled Johnson & Johnson’s second attempt to channel its talc liabilities via the chapter 11 bankruptcy process.
Tarte Cosmetics pledges US$300,000 to empower Black female entrepreneurs
Tarte Cosmetics has announced its second annual Shape Your Future Small Business Awards. The program will grant US$300,000 to Black female entrepreneurs, starting next month.
P&G Faces Criticism Over Withdrawn Forest Pledge
Procter & Gamble (P&G) has removed a pledge not to buy wood pulp from degraded forests from its corporate policy, which has led to criticism from environmental groups and investors
States Challenge 3M’s Proposed $10.3B Settlement Over ‘Forever Chemicals’ Pollution
A coalition of 22 states and U.S. territories, including California, Texas, and New York, oppose a proposed $10.3 billion settlement with 3M Co.
Cybersecurity Breach at Estée Lauder: A Potential $300M Sales Hit
According to a Barclays Capital analyst, Estée Lauder’s recent cyber attack can potentially impact its sales by approximately $300 million.
Johnson & Johnson Plans Kenvue Separation
Johnson & Johnson announces plans for a strategic shift, intending to separate from Kenvue Inc.
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