K18 announces Simone Biles as brand ambassador
Unilever’s K18 brand has named Simone Biles as its Brand Ambassador. The professional gymnast will front the hair care brand’s inner-strength campaign, showcasing her elevated hair care routine that promotes self expression.
Eurofins stock plunges as short-selling rumors swirl
Eurofins shares were sent into freefall after the testing firm was implicated in Carson Block’s Muddy Waters research. Stock plummeted in value by up to 25 percent, wiping some €2.3 billion from the company’s market value.
Cetaphil unveils digital campaign to celebrate men’s skin care
Galderma’s Cetaphil brand has launched a campaign designed to encourage men to embrace a skin care routine. The derma skin care line’s Made For Phil campaign features two videos made for social media designed to shift the dialogue on male skin care.
AmorePacific names President of China unit
AmorePacific has named Taeho Park President of its China division. Park succeed Mike Hwang and is charged with overseeing business development for the K-beauty behemoth in this key market.
Herbivore Botanicals hires Supergoop marketing chief as CEO
Herbivore Botanicals has named Britany LeBlanc as Chief Executive Officer. LeBlanc joins the company from Supergoop where she held the role of Chief Marketing Officer. Co-founder Alexander Kummerow is also stepping up his daily responsibilities at the brand.
THG signs over luxury goods websites to Frasers in partnership deal
THG Ingenuity and Frasers Group have agreed a partnership across several areas. Under the terms of the deal, THG will sell its portfolio of luxury goods website to the Sport Direct owner, including coggles.com.
Shein files secret papers ahead of rumored London IPO
Shein is said to have filed confidential papers with UK regulatory bodies in advance of a possible IPO on the London Stock Exchange. The Chinese fast fashion firm is thought to be preparing to list in the second half of the year.
Bumble and bumble joins ELC stablemates on Amazon Premium Beauty Store
Bumble and bumble has become the latest The Estee Lauder Companies-owned brand to launch on the US Amazon Premium Beauty Store. The brand store will feature shoppable short cuts video content and a bespoke styling quiz.
Sasa resumes dividend payments as profit soars
Sasa has announced its results for the 2023/24 financial year. The Hong Kong-based retailer saw turnover climb 24.8 percent to HK$4,367.5 million as Mainland tourists returned, while gross profit soared 27.3 percent yoy to HK$1,783.4 million.
Target partners with Shopify
Target has announced a partnership with Shopify. The global commerce platform will offer a selection of its popular merchants and their products on Target Plus, the retailer’s third-party digital marketplace.
Augustinus Bader Sales to Top US$130 Million This Year
Ultra-premium skincare brand Augustinus Bader is projecting a 40% increase in sales for 2024, aiming to surpass US$130 million in revenue.
Yoox Net-a-Porter Shuts Down China Operations Amid Economic Challenges
Luxury clothing sales platform Yoox Net-a-Porter (YNAP) is ceasing its operations in China.
L Catterton Partners to Acquire Stripes Beauty
Naomi Watts and L Catterton have partnered to acquire Stripes Beauty, a brand founded in 2022 to address menopause and healthy ageing.
L’Occitane Reports Mixed Financial Results Amid Buyout Efforts
L’Occitane International SA, the Hong Kong-listed beauty group, released its financial results for the year ending March 2024.
EU Fines IFF for Obstructing Fragrance Cartel Investigation
The European Commission has levied a 15.9 million euro (US$17.05 million) fine against U.S. company International Flavors & Fragrances (IFF) and its French affiliate.
Target Unveils GenAI-Powered Store Companion to Enhance Team and Guest Experience
Target Corporation (NYSE: TGT) is set to introduce a new generative artificial intelligence (GenAI) tool named Store Companion across all its nearly 2,000 stores by August.
Flipkart Focuses on Tier II and III Markets with Premium BPC Products
E-commerce giant Flipkart is aggressively targeting Tier II and III markets, seeing 1.8x growth in premium Beauty and Personal Care (BPC) product sales from these regions.
P&G to Relocate 1,500 Jobs from Winton Hill Business Center
Procter & Gamble Co. (P&G) will relocate around 1,500 jobs from its Winton Hill Business Center over the next five years, starting at the end of 2024.
Tate & Lyle to Acquire CP Kelco in $1.8 Billion Deal to Enhance Plant-Based Product Portfolio
Tate & Lyle, the British sweetener maker, announced a $1.8 billion acquisition deal to buy U.S.-based CP Kelco.
Johnson & Johnson Faces New Class Action Over Talc Products
Johnson & Johnson (J&J) is confronted with a new proposed class action lawsuit demanding damages and medical monitoring for women who have developed or may develop cancer from using the company’s baby powder and other talc products.
Beiersdorf CEO: Our market share is growing in China but it’s tough out there
Beiersdorf CEO, Vincent Warnery warned investors that China’s luxury skin care market is declining strongly and that the company expects that the second quarter of the current financial year will be difficult for China’s prestige skin care sector after a tough first quarter.
Natura &Co launches corporate venture capital fund
Natura &Co has announced the launch of a corporate venture capital fund, dubbed Natura Ventures. The fund will be jointly managed by the Brazilian cosmetics manufacturer and impact investment firm, Vox Capital.
MAC opens store in Sri Lanka
MAC has opened its first store in Sri Lanka. The Estee Lauder Companies-owned brand’s new location is described as an ‘immersive retail experience’ in Colombo’s One Galle Face Mall and will be operated by distribution partner Exclusive Lines.
PCA Companies buys Space NK US Wholesale division
PCA Companies has announced the acquisition of the US wholesale division of Space NK – its first foray into the world of retail. The global beauty platform did not disclose financial terms of the deal.
Suntegrity recalls Sunscreen Foundation over high mold count
Suntegrity Skincare has voluntarily recalled certain lots of its Impeccable Skin Sunscreen Foundation after some tubes were found to contain ‘a higher than acceptable microbiological mold count’.
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