L’Oreal Surpasses Q1 Expectations: Robust Growth in US and Europe Bolsters Sales Amid Market Concerns
L’Oreal, the global leader in cosmetics, reported a robust 9.4% increase in first-quarter sales on a like-for-like basis, surpassing analyst expectations and alleviating concerns over potential slowdowns in its two largest markets, the United States and China.
Beautycounter Regains Independence: Gregg Renfrew Reacquires Brand from Carlyle Group
Gregg Renfrew, founder and chief executive of Beautycounter, has successfully repurchased the clean beauty company from foreclosure, regaining control over the brand on April 18.
Harvey Nichols Appoints Julia Goddard as CEO Amidst Strategic Reorganization and Market Challenges
.Harvey Nichols has appointed Julia Goddard as its new chief executive, succeeding Manju Malhotra who served the luxury retailer for 25 years
Clio Cosmetics Bolsters Japanese Market Presence with Strategic Acquisitions
South Korea’s Clio Cosmetics Co. has significantly expanded its foothold in the Japanese beauty market by acquiring 100% stakes in Japanese cosmetics distributor Doowon and import agency Kiwami for 8.3 billion won (US$6 million).
Puig Targets a Record-Breaking US$14.8 Billion Valuation in Spain’s Largest IPO in Nearly a Decade
Puig, the Barcelona-based company, is set to make a landmark debut on the public market with an anticipated valuation of up to 13.9 billion euros (US$14.8 billion)
Beiersdorf hails strong start to 2024: Q1 sales up 7.3 percent to €2.6 billion
Beiersdorf has announced its results for the first quarter of fiscal 2024. The manufacturer of Nivea said it achieved a ‘strong start’ to the year with group sales rising 7.3 percent yoy in organic terms to hit €2.6 billion.
The Body Shop proposes tax deal to free up cash for creditors
The Body Shop’s administrators are hoping that the ethical beauty brand can retain tax benefits worth up to £66 million in order to reduce its future tax liability, if it can trade profitably again once it exits the bankruptcy process.
Bath & Body Works opens first London store
Bath & Body Works has opened its first standalone store in the British capital. The 2,357 square-foot space is located in London’s Westfield White City shopping centre. An opening at Westfield Stratford is slated for the fall.
P&G Australia and New Zealand names SVP and MD
Procter & Gamble has named Neal Reed as Senior Vice President and Managing Director of its Australia and New Zealand unit. He succeeds Kumar Venkatasubramanian, who is returning to India to lead the P&G India business.
L’Occitane trounces mass arbitration attempt by US law firm
A US District judge has rejected a motion by law firm Zimmerman Reed to force L’Occitane into arbitration with some 3000 customers. Judge Percy Anderson ruled that the French natural skin care brand was not subject to arbitration agreements with shoppers simply because they visited its website.
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