Federal judge green lights hair relaxer suit; L’Oreal, Revlon named among defendants
A federal judge has given the nod to a series of claims that chemical hair relaxers made by Revlon and L’Oreal caused cancer and other injuries. The multidistrict litigation totals some 8,000 lawsuits.
Walgreens shutters warehouses as stores double up as fulfilment centers
Walgreens Boots Alliance is hoping to speed up online deliveries despite the recent closure of an e-commerce distribution warehouse in Illinois. How? The drug store giant’s 8,700-strong store network will double as fulfilment centers.
Anastasia Beverly Hills to sponsor Formula 4 driver Biana Bustamante
Anastasia Beverly Hills has made its first foray into sports sponsorship, naming Bianca Bustamante as its first ambassador from the sporting world.
BeautyHealth CEO steps down; Interim CEO announced
BeautyHealth has announced that CEO Andrew Stanleick has resigned from his role as President and CEO and will relinquish his seat on the Board, effective November 19, 2023. Beauty Health Director, Maria Beck will serve as Interim CEO while a formal search is conducted by the Board.
L’Oréal USA announces 2023 Women in Science Awardees
L’Oreal USA commemorated a 20-year commitment to women in STEM by announcing the recipients of its 2023 For Women in Science Fellowship program.
Inter Parfums Reports Strong 2023 Growth
Inter Parfums, Inc. has reported its financial results for the third quarter and the first nine months of 2023, showcasing significant growth and success in the fragrance industry.
Sahajan’s Growth Through Equity Funding
Sahajan, an Ayurvedic and clean beauty brand, has secured its first round of equity funding to support growth in North America.
ODDITY Reports Strong Quarterly Performance
ODDITY Tech Ltd. (NASDAQ: ODD) has announced its preliminary unaudited financial results for the third quarter ending September 30, 2023.
Kohl’s Announces Major Board Changes
Kohl’s is making significant changes to its Board of Directors. Peter Boneparth, the current Board Chair, will retire at the end of his term in May, with Michael Bender set to succeed him.
Shein Targets High IPO Valuation
Shein, the online fast fashion retailer, is aiming for a valuation of US$80 to US$90 billion for its potential U.S. initial public offering (IPO).
FDA grants cosmetics industry six-month grace period to comply with MoCRA
The US Food & Drugs Administration (FDA) has issued guidance on its intent to delay enforcement of the requirements for cosmetics product facility registration and cosmetic product listing contained in the Modernization of Cosmetics Regulation Act, 2022 (MoCRA) by six months.
Vivify Specialty Ingredients acquires Access Ingredients
Vivify Specialty Ingredients has announced that it has acquired Access Ingredients. Financial terms of the deal were not disclosed.
Olaplex Q3 2023: sales plummet 30 percent
Olaplex Holdings has announced its results for the third quarter of fiscal 2023. The hair care company saw sales plummet 30 percent to US$123.6 million and income nosedive from Q3 2022’s US$60.8 million to US$20.4 million.
Coty brands Q1 a ‘very strong start’ to FY24 as sales surge 18 percent
Coty has announced its results for the first quarter of its current financial year. In the three months to September 30, 2023, the US beauty behemoth saw sales surge 18 percent (LFL and reported), well ahead of expectations.
Decree closes financing round led by Natalia Vodianova
Decree has announced the completion of a financing round led by Natalia Vodianova, Timon Afinsky and Harry Blain. Vodianova will also take a seat on the Board of the doctor-led skin care brand.
What’s in a name? Luna Daily launches therapy hotline to help destigmatize the word ‘vulva’
Body care brand Luna Daily has launched a campaign created in partnership with Joan London, aimed at normalizing and destigmatising the word ‘vulva’.
Will Waldencast be delisted over SEC reporting fail?
Waldencast has received a delisting notice from the Nasdaq Capital Market after it failed to comply with SEC reporting rules.
Carlyle puts US$1 billion price tag on Tokiwa
Carlyle is rumored to be seeking a buyer for Tokiwa and the Japanese cosmetics supplier could fetch up to US$1 billion.
Cos Bar Replaces Shen in Brooklyn
Cos Bar has taken over the location previously held by Shen Beauty in Brooklyn, planning to open its doors during the holiday season.
Neal Sample Joins WBA Executive
Neal Sample has taken on the role of Executive Vice President and Chief Information Officer at Walgreens Boots Alliance, starting immediately.
Unilever Ventures and True Beauty Ventures Invest in The 7 Virtues Fragrance
Unilever Ventures, the venture capital arm of the Unilever Group, has partnered with True Beauty Ventures, an investment firm specialising in scaling beauty and wellness brands, to complete the inaugural institutional financing round for The 7 Virtues.
Dior Opens Holiday Pop-Up Boutique in Miami
Dior is opening a new pop-up boutique in Miami called the “Dior Garden of Dreams,” inspired by the Jardin des Tuileries.
Freddy Bharucha Appointed President of P&G’s North America Personal Care and Beauty Operations
Freddy Bharucha has been appointed as the inaugural president of Procter & Gamble’s (P&G) North America personal care and beauty operations.
FTC Accuses Amazon of Price Manipulation
Amazon has been accused by the U.S. Federal Trade Commission (FTC) of employing illegal strategies to increase profits within its online retail business.
LO3 Capital supports Inspired Beauty Brands with growth capital
LO3 Capital has announced that it has provided a senior subordinated debt investment to support Inspired Beauty Brands with growth capital.
China is not a priority for us: Elf Beauty announces international expansion plan
Elf Beauty is planning on international expansion but it won’t be relaunching on the Chinese market any time soon. Instead, the mass beauty brand will focus its efforts on the US and Western European markets.
The Estee Lauder Companies Q1 2024: Outlook lowered as sales plummet 10 percent
The Estee Lauder Companies has reported its results for the first quarter of fiscal 2024. The US prestige beauty giant reported net sales of US$3.52 billion in the three months ended September 30, 2023, down 10 percent from the prior-year period.
SOS teams up with Ulta Beauty to boost in-store product discovery
SOS has announced an exclusive partnership with Ulta Beauty aimed at boosting in-store product discovery.
Lush debuts on Ulta’s website
Lush has announced a first-of-its-kind wholesale partnership with Ulta. The ethical cosmetics brand will sell a select range of its products via the US beauty retailer’s website.
Kenvue Q3 Financials: Mixed Outcomes
Kenvue Inc. released its fiscal third-quarter financial results, showing a 3.3% increase in net sales and a 3.6% increase in organic growth, with noticeable declines in volume partially offset by higher pricing.
Carlyle Explores Sale of Grooming Brand
Carlyle Group is said to be in the preliminary stages of planning to sell Every Man Jack, a men’s personal care brand, which could be valued around $400 million.
L’Occitane and Elemis Secure NYC Leases
L’Occitane and its subsidiary Elemis have signed office leases at 111 West 33rd Street, as confirmed by the building’s owner, Empire State Realty Trust (ESRT).
Unilever Sells Dollar Shave Club
Unilever is selling its subsidiary, Dollar Shave Club, to Nexus Capital Management LP, a U.S.-based private equity firm.
Dove and Nike collaborate on online coaching program
Dove and Nike are banding together to launch the Body Confident Sport online coaching program. Billed as a first-of-its-kind, scientifically proven set of tools to build body confidence in 11- to 17-year-old girls, the initiative was co-developed by the two brands in partnership with world-renowned experts.
KD Capital bets on influencer power; invests US$12 million in FounderSix
Venture capital firm, KD Capital, has invested US$12 million in FounderSix. The funds will be used by the beauty brand incubator to introduce new influencer-led beauty brands to the market.
Walgreens to settle Rite Aid suit for US$192.5 million
Walgreens Boots Alliance has assented to a US$192.5 million settlement in a class action lawsuit bought by Rite Aid investors over the pharmacy conglomerate’s planned acquisition of the drug store chain.
Two Target executives to retire
Target’s COO and Chief External Engagement Officer have announced their planned retirements. COO John Mulligan will see out the year from February 2024 in a strategic advisor role while Laysha Ward will step into an advisory position up until April next year.
Gillette signs up for another season as Toronto Raptors sponsor
Gillette has announced the return of its Choose Your Game Face campaign as part of its continued role as the official shave and beard care partner to the Toronto Raptors.
Amazon to face lawsuit over data tracking in the Netherlands
A Netherlands’ consumer group has filed a lawsuit against Amazon charging the e-commerce behemoth with violating EU privacy laws.
Louis Vuitton named Title Partner for America’s Cup
Louis Vuitton has announced its return as the Title Partner for the Louis Vuitton 37th America’s Cup Barcelona.
Macy’s Launches Digital Fashion Platform
Macy’s has introduced a new digital engagement platform, mstylelab, combining digital and physical elements of fashion retail.
Coast Southwest Acquires Lubrizol Assets
Coast Southwest has successfully acquired a majority of the assets belonging to the surfactant manufacturing facility of The Lubrizol Corporation, located in Paso Robles, CA.
L’Oréal Partners with THG Ingenuity
THG’s Ingenuity commerce division has entered into a deal with L’Oréal to manage direct-to-consumer activities for two luxury division brands in North America.
J&J Contemplates Third Bankruptcy Attempt
Johnson & Johnson is considering a third bankruptcy filing as a strategy to settle approximately $8.9 billion in lawsuits related to their baby powder product.
P&G Q1 2024: Sales up 7 percent; EPS rises 17 percent
Procter & Gamble has announced its results for the first quarter of fiscal 2024. The US FMCG manufacturer reported net sales of US$21.9 billion, up 6 percent versus the prior-year period (+7 percent in organic terms). Diluted net earnings per share rose 17 percent, hitting US$1.83.
Kao USA unveils eczema care brand, Re/cover
Kao USA is hoping to revolutionise the way eczema is treated with a new skin care brand aimed at providing relief for sufferers of this common skin condition while also addressing the pain points associated with existing treatments on the market.
Farfetch backpeddles on Violet Grey’s future; puts LA beauty chain up for sale
Having announced that it was bowing out of beauty in August, with the exception of its Violet Grey business, Farfetch has backtracked and put the LA-based beauty retailer up for sale.
Goop debuts affordable beauty line
Goop has announced the launch of a new, affordable line of beauty and wellness products that will be sold via Target and Amazon.
Pat McGrath Labs and Shop with Google to host AR pop-up experience
Pat McGrath Labs and Shop with Google have announced that they’re hosting an augmented reality pop-up experience combining the make-up brand’s offer with the internet behemoth’s AR technology.
Rite Aid Files for Bankruptcy
Rite Aid, a U.S. drugstore chain facing financial challenges, has filed for bankruptcy protection and plans to close underperforming stores.
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