THE DETAILS By brand, tween and teen favourite, Sol de Janeiro was the star performer, growing 199.4 percent to hit sales of €204.4 million. In contrast, L’Occitane en Provence saw sales drop 2.9 percent while Elemis put on a strong 14.7 percent.

By region, the Americas delivered the strongest growth, up 64.5 percent, while EMEA inched up 4.6 percent and APAC sales dipped 2.8 percent.

THE WHY? André Hoffmann, Vice-Chairman & Chief Executive Officer of L’Occitane, comments, “We delivered a decent holiday season, which enabled us to maintain our growth momentum and relative outperformance in the premium beauty market in China and other key markets. It was also pleasing to see Elemis return to growth in light of our ongoing premiumization strategy to support its long-term profitability.

“We will continue to build on the accelerating growth of Sol de Janeiro as we steadily expand its product and category range, and the scale and reach of its distribution. We will also further build on the healthy growth of other brands, including our recently acquired luxury home fragrance brand, Dr. Vranjes Firenze, to round out our portfolio.”

The post Teen passion for Sol de Janeiro pushes L’Occitane’s Q3 sales up 18.9 percent appeared first on Global Cosmetics News.

THE DETAILS The Kindness Tour will kick off in Los Angeles with Tarte’s trolley pop-up making surprise visits to retailers, hosting creator events and giving away goodies galore. The brand will also choose a school in each city at random to donate backpacks and school supplies to teachers and students.

THE WHY? Maureen Kelly, CEO and Founder of Tarte, comments, “In the world of beauty, it’s not just about looking good; it’s about feeling good and doing good. Our 25-city Kindness Tour is a testament to the power of positivity and giving back to the communities that have embraced us for a quarter of a century.”

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THE DETAILS Cosmax is the first in the Korean cosmetics ODM field to receive US FDA OTC certification and operates a specialized management system that includes real time adaptation to evolving US FDA regulations on OTC products.

THE WHY? The Korean beauty manufacturer is aiming to enhance its expertise in the sun care field in response to growing demand from its customers who are hoping to break onto the US sun care market.

Chun-ho Park, Vice President of COSMAX R&I Center, reveals, “In response to the increasing demand from Korean and global clients to enter the US sun care market, we have established OTC Lab. Based on our accumulated expertise in OTC sunscreen products manufacturing since 2016, COSMAX will continue to innovate products in line with the trends and regulations of the US market.”

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THE DETAILS According to a report published by The Guardian, the rules will require governments to monitor sewage for microplastics, PFAS and other micropollutants. The remaining 20 percent would be paid for by each country’s government so that the affordability of products will not be overly affected.

THE WHY? The EU’s ‘polluter pays’ principle, as the new law has been dubbed is aimed at protecting public health by ensuring a clean water supply.

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THE DETAILS All US store managers will receive up to US$20,000 in Walmart stock each year, according to a report published by Bloomberg, with the exact sum determined by store format. The firm’s bonus structure will also be revisited with up to 200 percent of base salary up for grabs for those who hit targets. Combined, these measures could see top managers paid US$404,000 per annum.

THE WHY? John Furner, CEO of Walmart US, told Bloomberg that the measures were aimed at incentivising performance, “We are asking them [store managers] to act like owners and to think like owners.”

The post Walmart offers stock grants in bid to incentivise store managers appeared first on Global Cosmetics News.

THE DETAILS    The financial strain on Signa Group became evident when the administrator for Signa Holding disclosed an unexpected €3.5 billion in creditor claims, increasing the total debt to over €8.6 billion. This sum surpasses the initial estimate of €5.1 billion and includes significant claims from international investors and other Signa entities. The complex financial structure, characterized by internal fund transfers and disagreements among Signa’s various divisions, has led to disputes over claims and the allocation of assets for debt repayment.

THE WHY?   The administration of KaDeWe and the unfolding financial crisis within Signa Group highlights the challenges of Benko’s aggressive growth strategy and the risks associated with the group’s leveraged real estate investments. The situation has led to a reassessment of the group’s financial obligations and assets, with creditors and stakeholders facing uncertainty about the resolution of the group’s debts and the future of KaDeWe.

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THE DETAILS This potential reduction, amounting to at least 10% of its employees, is part of an effort to manage costs and enhance operational efficiency. The job cuts are expected to occur through direct redundancies and by not filling existing vacancies. This plan follows a recent decision to halve the company’s redundancy compensation package, reducing it from two weeks of pay per year of service to one week, effective from February 1. This change in redundancy terms, aimed at making the policy more affordable and freeing up cash for the business, has led to discontent among employees.

THE WHY?  The job cuts and changes in redundancy terms come in the wake of the company reporting a £230m full-year loss, and are seen as measures to facilitate the company’s transformation and financial sustainability amidst challenging retail conditions.

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THE DETAILS Based in London, Pilavachi will lead the L’Oréal Global Media team located in Paris. Her primary responsibilities include supporting and expanding the Wavemaker and GroupM relationship with L’Oréal, driving digital transformation, and implementing best practices across the 30 markets involved in the partnership.

THE WHY?  Her appointment aims to leverage her extensive experience to foster transformative growth for L’Oréal, contributing to Wavemaker’s ongoing success and its relationship with the cosmetics giant, especially in light of recent account wins and retentions in regions like Egypt, MENA, Pakistan, and Thailand.

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THE DETAILS e.l.f Beauty’s partnership with NACD includes initiatives like sponsoring Board preparation training for 20 director candidates through the NACD Accelerate™ program and supporting the NACD Center for Inclusive Governance (CFIG), which emphasizes diversity, equity, and inclusion (DE&I) in governance.

THE WHY?   The collaboration between NACD and e.l.f. Beauty is based on a mutual commitment to enhancing DE&I in boardrooms, aiming to influence the broader corporate governance landscape. This partnership seeks to demonstrate how diverse and inclusive board compositions can contribute to sustainable business growth and create positive changes in corporate culture.

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THE DETAILS This investment marks the first time Ultra Violette has accepted outside capital, coinciding with the brand’s fifth anniversary. Aria Growth Partners has acquired an undisclosed stake in Ultra Violette, which was initially bootstrapped by founders Ava Chandler-Matthews and Rebecca Jefferd.

THE WHY? The brand plans to expand its presence in North America, starting with a rollout of its products through Sephora in Canada in March. Ultra Violette’s products are already available in 28 international markets, including Europe, Australia, the UK, Asia, and the Middle East, through retailers such as Sephora, Space NK, Harrods, and Liberty London.

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