Teen passion for Sol de Janeiro pushes L’Occitane’s Q3 sales up 18.9 percent
L’Occitane has announced an unaudited quarterly update for the third quarter of the current financial year. The natural cosmetics firm saw sales rise 19.5 percent at reported rates in the three months to December 31, 2024 to €1,915.3 million.
KaDeWe Faces Administration Amid Crisis
Germany’s iconic department store, KaDeWe, has entered administration due to financial difficulties within René Benko’s Signa Group, which co-owns KaDeWe’s operating company and separately owns the building.
LVMH Reports Strong 2023 Growth
LVMH Moët Hennessy Louis Vuitton reported €86.2 billion in revenue, a 13% increase from the previous year, with most business groups showing strong performance, except for Wines & Spirits.
Scent Beauty scoops All Saints fragrance license
Scent Beauty has announced that it is adding the All Saints fragrance franchise to its growing portfolio. The partnership will be kick-started with a trio of scents that has been developed by Firmenich.
Bridgepoint announces acquisition of RoC Skincare
Bridgepoint fund, Bridgepoint Europe VII has announced that it has made a strategic investment in RoC Skincare. Under the terms of the deal RoC’s existing backer, Gryphon Investors, will sell its majority stake to Bridgepoint for an undisclosed sum.
Kering Acquires Prime Fifth Avenue Retail Space
Kering, the luxury goods conglomerate, has purchased a significant property in New York City for USD 963 million (EUR 885 million)
L’Oreal invests in Swiss biotech company, Timeline
L’Oreal’s venture capital fund, BOLD has acquired a minority stake in Timeline. The Swiss biotech company has developed a proprietary molecule that is said to recycle and rejuvenate aging mitochondria. Financial terms of the deal were not disclosed.
The Estee Lauder Companies appoints Vice President, Corporate Affairs & Communications, UK&I
The Estee Lauder Companies has announced the appointment of Venetia Varney as Vice President, Corporate Affairs & Communications, UK&I.
LVMH joins up with TikTok to tackle counterfeits
LVMH is said to be in talks with TikTok in a bid to fight the fakes. The social media app and luxury goods conglomerate are hoping to team up to tackle the issue of counterfeit goods being sold via the platform.
Douglas Q1 2023/4: Sales rise 8.3 percent to €1.56 billion
Douglas has released preliminary results for the first quarter of the current financial year (2023/24). The German perfumery chain saw group sales rise 8.3 percent in the three months ended December 31, 2023 versus the prior year to €1.56 billion.
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