Galderma posts strong FY2022 growth ahead of possible IPO
Galderma has reported US$3.8 billion in net sales in FY22, up 13.9 percent on 2021 on a constant currency basis, delivering above its 2022 profitability guidance.
Troubled German department store Galeria Karstadt Kaufhof to shutter 40 percent of outlets
Yet another German department store is in trouble, with Galeria Karstadt Kaufhof having announced it is to close 40 percent of its outlets, an announcement that comes just months after it filed for insolvency protection for the second time, according to a report by AP News.
Russia adds Lancôme to parallel import scheme
The Russian government has added a series of brands to its parallel imports list, according to a report published by Reuters.
Gallinee launches PCR test to measure skin health
Gallinee has unveiled a PCR skin microbiome test. The Skin Health Test Kit is said to measure the microbes that live on skin and assess the skin’s ecosystem in order to generate an in-depth report and tailor skin care recommendations to each customer.
Henkel FY2022: Sales swell 8.8 percent but 2023 outlook muted
Henkel has announced its results for fiscal 2022. The German manufacturer of Schwarzkopf saw organic sales grow 8.8 percent to hit €22.4 billion versus the prior year, while operating profit increased 13.7 percent to €2.3 billion.
European Commission investigates fragrance and fragrance ingredients firms over antitrust concerns
The European Commission has carried out unannounced inspections at several fragrance and fragrance ingredients firms and an association active in the fragrance industry and sent out formal requests for information to several companies active in the sector.
L’Oréal unveils new identity for Active Cosmetics division
L’Oréal has announced the rebranding of its Active Cosmetics Division, which will become L’Oréal Dermatological Beauty.
Helsinki to end travel-sized bottle requirements
Helsinki is set to end travel-size bottle requirements by summer 2023, according to a report by YLE.
LVMH names Chairman and CEO for Perfumes and Cosmetics unit
LVMH has named Stephane Rinderknech Chairman and Chief Executive Officer for its Perfumes and Cosmetics division, according to a report published by WWD.
Beiersdorf hails FY 2022 as ‘one of our most successful financial years in recent history’
Beiersdorf has branded fiscal 2022 as ‘one of its most successful financial years in recent history’ despite the volatile market. Group sales rose 10.6 percent in organic terms to €8.8 billion and EBIT significantly improved to €1.2 billion.
Interparfums FY 2022: record earnings as operating profit soars 33 percent
Interparfums has reported its results for the 2022 fiscal year. The fragrance giant recorded record earnings for the full year with net income up 40 percent on 2021’s figures and sales rising 26 percent to €706.6 million.
Could lab-developed essential oils be the next big thing in ethical fragrance?
Researchers from the University of Glasgow are preparing to market a range of lab-produced essential oils, free from animal and plant extracts, aimed at improving the ethical and environmental footprint of the fragrance industry.
Croda FY2022: sales and profit rise 11 percent
Croda has reported its results for fiscal 2022. The cosmetics ingredients manufacturer saw both sales and profit rise in the double digits versus the prior year. Sales totalled £2089.3 million, up 10.6 percent on 2021’s figures (5.2 percent in constant currency), while profit before tax increased 11.4 percent to £445.2 million (+7.3 percent in constant currency).
Robertet Group acquires Aroma Esencial
The Robertet Group has announced the acquisition of Spanish naturals producer, Aroma Esencial. Terms of the deal were not disclosed.
Dior announces partnership with The BeautyHealth Company
Dior has announced a partnership with The BeautyHealth Company and will develop a custom Dior Powered by Hydrafacial experience.
Noble Panacea announces Christy Turlington as ‘Fundamental Changemaker in Residence’
Noble Panacea has announced Christy Turlington as the ‘Fundamental Changemaker in Residence’ of its new Elemental Collection.
Sephora unveils opening date for hotly-anticipated UK store
Sephora has announced the opening date for its UK store, with the cult beauty retailer opening at Westfield White City in West London on March 8, 2023.
Elemis appoints Jennifer Baldwin as Chief Brand Officer
L’Occitane-owned Elemis has appointed Jennifer Baldwin as Chief Brand Officer, who will be based in the London headquarters.
Chanel unveils 3D bio-printed skin featuring dark spots
Chanel has unveiled a reconstructed human skin sample with a pigment spot created in collaboration with Labskin Creations via a combination of cell culture and 3D bioprinting, according to a report published by 3D Natives.
Cosmetics Europe launches COSMILE Europe ingredient database
Cosmetics Europe has launched a European ingredient database to help European citizens find out more about cosmetic ingredients.
Tesco, Unilever and In Kind Direct team up to tackle hygiene poverty
Unilever, Tesco and In Kind Direct have teamed up to help British families in hygiene poverty, according to a report published by the Grocery Gazette.
L’Oréal heir, Francoise Bettencourt Meyers names new MD for investment firm
The world’s richest woman, Francoise Bettencourt Meyers, has named Cyrielle Villepelet as Managing Director if her investment company, Tethys Invest, according to a report published by Bloomberg.
Farfetch posts record revenue for 2022 despite Q4 dip
Farfetch has announced its results for the fourth quarter and full year 2022. The online luxury fashion retailer posted record revenue of US$2.3 billion for the year ended December 31, 2022, up 3 percent year-on-year, despite a 5 percent drop in Q4 revenue.
L’Oréal taps EDF Energy to become carbon neutral at all sites by 2025
THE WHAT? French beauty company L’Oréal has signed two new electricity contracts with power giant EDF, which aim to help the company become carbon neutral at all its sites by 2025, according to a report by Reuters. THE DETAILS The contracts include an...
Givaudan to acquire major cosmetic ingredient portfolio from Amyris; to establish strategic partnership for sustainably-sourced ingredients
Givaudan is to acquire a portfolio of major cosmetic ingredients from Amyris, while also establishing a strategic partnership for natural, sustainably-sourced ingredients for the beauty industry.
Nivea announces sponsorship of prime-time UK TV series Starstruck
Beiersdorf-owned Nivea has announced the sponsorship of UK prime time ITV series, Starstruck.
Kering issues dual-tranche bond for €1.5 billion
Luxury group Kering has issued a dual-tranche bond for a total of €1.5 billion.
Hermès employees to receive €4,000 bonus as company sales soar
French luxury house Hermès is set to pay a one-time end-of-year bonus of €4,000 to each of its 19,700 employees following a Q4 sales rise of 23 percent YOY.
Gwyneth Paltrow closes London-based Goop store after losing £1.4 million in revenue
Actress and wellness entrepreneur Gwyneth Paltrow has closed the London-based branch of her Goop lifestyle store.
LVMH teams up with Dow to improve sustainable packaging across perfume and beauty brands
LVMH Beauty and Dow are set to collaborate to speed up the use of sustainable packaging across the luxury conglomerate’s perfume and cosmetic brands. The pair will work together to enable bio-based and circular plastics to be integrated into several of the owner of Dior’s product applications without compromising functionality or quality.
Gucci to launch hub for circular luxury in Italy
Gucci, with the support of Kering, has announced the launch of the first hub for circular luxury in Italy. The center aims to accelerate the circular transformation of the Italian fashion industry’s production model.
Chanel names Whitney Peak first Black woman to star in Coco Mademoiselle campaign
Chanel has named Whitney Peak as the latest face of its Coco Mademoiselle fragrance. Peak is the first Black woman to front a campaign for a Chanel fragrance, according to a report published by British Vogue.
Weleda sends open letter urging European Commission to ban microplastics in beauty products
Weleda is spearheading an open letter to the European Commission urging them to ban microplastics in beauty products.
Skin + Me raises €11 million in Series B funding round
Skin + Me has raised more than €11 million in a Series B funding round. The round was led by Octopus Ventures, according to a report published by EU-Startups.
Chanel owners named among investors taking de Rothschild private
Owners of Chanel, the Wertheimer brothers’ Mousse Partners has been named among a number of prominent investors working together to buyout Rothschild & Co and take the bank private, according to a report published by the Financial Times.
IFF sells Flavor Specialty Ingredients Business to Exponent
IFF has announced that it has agreed to sell its Flavor Specialty Ingredients business to Exponent for US$220 million. FSI reports through IFF’s scent division and is a leading manufacturer of synthetic and natural base aroma chemicals.
Zara Beauty launches Mini Artists range aimed at children
Zara Beauty has launched a new range aimed at children, Mini Artists, designed in collaboration with make-up artist Diane Kendal.
Balenciaga and Gucci hit Kering’s Q4 revenues
Sales at luxe beauty company Kering have fallen 7 percent in Q4.
Chanel becomes latest brand to channel K-Pop with NewJeans’ Minji appointment
Chanel has appointed K-Pop star NewJeans’ Minji as its official brand ambassador in the fashion, watch and beauty categories.
Louis Vuitton taps Pharrell Williams as new Men’s Creative Director
Louis Vuitton has named musician Pharrell Williams as its new Men’s Creative Director, effective immediately.
Clarins to open second production plant in France
Clarins is set to increase manufacturing of its cosmetic offering with the imminent opening of a new production plant located in Sainte-Savine in the Parc du Grand Troyes, France.
L’Oréal FY 2022: sales soar 10.9 percent LFL to €38.26 billion
2022 will go down as the year that L’Oréal put the pandemic well and truly behind it; the French beauty behemoth reported sales growth of 23.4 percent in fiscal 2022 compared to 2019 figures and yoy growth of 10.9 percent LFL, bringing the total to €38.26 billion.
Has the CBD bubble burst? Love Hemp calls in the administrators
The UK’s #1 supplier of CBD-based products, Love Hemp has called in the administrators. The wellness brand has been ‘unable to secure a permanent solution for its working capital challenges’.
Clarins opens Dublin day spa
Clarins has cut the ribbon on a boutique and spa in Dublin – the first of its kind to be opened in the UK & Ireland market, according to a report published by the Dublin Gazette.
Unilever FY2022: price hikes push sales up 9 percent
Unilever has announced its results for fiscal 2022. The UK-based FMCG manufacturer reported underlying sales growth of 9 percent, driven by all units, with price growth of 11.3 percent and volumes dropping 2.1 percent.
Beauty manufacturers – including L’Oréal, Unilever and BASF – call for worldwide ban on animal testing
More than 35 cosmetics manufacturers and suppliers, industry associations and animal protection organisations, among them BASF, Beiersdorf, Unilever and L’Oréal, are working together to end animal testing for good by launching the International Collaboration on Cosmetics Safety (ICCS).
Bring back tax-free shopping; British Beauty Council lobbies UK Chancellor
The British Beauty Council has backed calls for the UK government to reinstate VAT-free shopping for international tourists amid claims that the re-introduction of the scheme could bring the treasury revenues of £350 million each year.
No7 brings back Creator Collective for second year
Walgreens Boots Alliance has brought back its No7 influencer skincare education programme, named Creator Collective, for a second year.
The British Beauty Council launches Future Talent Programme
The British Beauty Council has launched the Future Talent Programme, an industry initiative that aims to inspire and educate young people in the most formative years of their educational careers.
Avon champions gender equality with ‘Embrace Your Power’ launch
Avon is rebranding and this time is focused on championing gender equality.
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