LVMH Expands Environmental Initiatives Globally
LVMH announced at COP 28 in Dubai the expansion of its environmental efforts under its LIFE 360 program, focusing on biodiversity conservation and climate change
Chanel brings Manchester to a standstill with Metiers D’Art show
It’s official, the north of England has officially been put on the map after Chanel staged its Metiers d’Art event in Manchester. Several road closures were in effect as the French fashion brand constructed an outdoor catwalk in the city’s Northern Quarter leading up to the show.
Unilever and Accenture join forces on next generation AI
Unilever and Accenture have announced a partnership as part of a strategic initiative to leverage the Dove manufacturer’s AI research and implementation of technologies that enhance productivity and drive efficiencies.
PZ Cussons Audit Chair steps down
PZ Cussons has announced that Jeremy Townsend, Non-Executive Director and Chair of the Audit and Risk Committee is stepping down from the board, effective February 28, 2024.
KFC Spain unveils meme-inspired fragrance, Eau D’uardo
KFC Spain has created a promotional campaign centred around the launch of a fragrance. The scent’s name, Eau D’uardo, was inspired by a viral meme created by the fast food outlet’s marketing team in 2021.
L’Oréal Acquires Probiotic Company Lactobio
L’Oréal has announced the acquisition of Lactobio, a Copenhagen-based leader in probiotic and microbiome research.
Mary Kay Expands into Hungary
Mary Kay Inc., a global beauty brand, is expanding into Hungary as part of its ongoing growth into the European market
Zara Launches New Hair Line
Zara is entering the hair product market with a new line called “Zara Hair,” developed in collaboration with hairstylist Guido Palau.
Stella McCartney names former L’Oreal executive as new CEO
Stella McCartney has named Amandine Ohayon as CEO, effective immediately and succeeding Gabriele Maggio who has held the role for the past four years.
YSL Beaute heads to Parliament with Women’s Aid to fight gender-based violence
YSL Beaute has teamed up with Women’s Aid in a bid to raise awareness of gender-based violence in the UK. The L’Oreal-owned beauty brand’s Abuse Is Not Love campaign aims to educate 2 million people worldwide on the signs of abuse by 2030.
Chanel heir named richest Swiss resident
Bilanz magazine has crowned Gerard Wertheimer as Switzerland’s richest resident thanks to the growing popularity of luxury labels post-pandemic, which pushed the Chanel heir’s wealth to an estimated US$47.6 billion.
Huda Kattan: beauty has an inclusivity problem
Huda Kattan thinks that the beauty industry has a long way to go before it can consider itself inclusive. The owner of Huda Beauty said that representation is moving ‘at a snail’s pace’ and that the beauty industry is sexist.
L’Occitane becomes a €1 billion business as first half net sales surge 24.9 percent
L’Occitane has reported its results for the first half of fiscal 2024. The French natural cosmetics company saw net sales surge 24.9 percent to tip its total over the €1 billion mark. Operating profit rose 11.8 percent.
L’Oreal: We have maintained a ‘limited’ presence in Russia
L’Oreal CEO Nicolas Hieronimus has admitted that the French beauty giant continues to operate in Russia, albeit in a ‘limited’ capacity. The manufacturer of Maybelline operates a plant south of Moscow, which manufactures shampoos, hair dye, and hygiene and baby products.
Greenpeace exposes Unilever’s empty plastic promise
Greenpeace has published a report claiming that Unilever’s plastic footprint has not decreased at all since it committed to using ‘less plastic, better plastic or no plastic’ and to cut virgin plastic use in half by 2025.
The Perfume Shop Launch First Multi-Brand Fragrance Refill Station
The Perfume Shop, in partnership with L’Oréal, has launched the UK’s first multi-brand fragrance refill station in its Nottingham store.
Revolution Beauty Negotiates Crucial Settlements
Revolution Beauty, a London-listed cosmetics group, is in advanced discussions with its founder Adam Minto and former colleague Tom Allsworth regarding multimillion-pound payments.
HeiQ Launches Biobased Skin Care Textiles
HeiQ, a leader in textile innovation, has developed HeiQ Skin Care, a 100% biobased textile finishing technology.
Biomel Secures Major Investment Boost
Biomel, a company specialising in plant-based gut health products, has received a £5.5 million investment from Iris Ventures, a venture capital firm.
Court Orders Animal Testing Reinstatement
The General Court of the European Court of Justice ruled that Symrise AG, a German cosmetics manufacturer, must conduct animal testing on two ingredients used in sunscreens.
Balenciaga takes music into fashion – literally – with NFC chip
Balenciaga is extending its Balenciaga Music project from playlists to its fashion collections with some clever garment tech that allows an exclusive track to be played via a NFC chip embedded into limited edition T-shirts and hoodies.
Mikimoto signs fragrance license agreement with Lalique Group
Japanese jewelry brand Mikimoto has signed a fragrance license agreement with Lalique Group covering a collection of perfumes and crystal editions, stretching through 2035.
Spanish Amazon workers encouraged to strike on cyber Monday
Spain’s CCOO union, which represents warehouse and delivery workers, is calling on Amazon staff to stage a one-hour protest per shift on November 27, 2023 – otherwise known as cyber Monday.
L’Oreal prices €1.5 billion dual tranche bond
L’Oreal has announced that it has priced a public bond offering for €1.5 billion. The offering comprises two tranches: a €800 million, three-year fixed rate bond paying 3.375 percent per annum; and a €700 million, six-year fixed rate bond paying 3.375 percent per annum.
Tesco unveils huge beauty drop online
Tesco is following in the footsteps of the likes of Amazon and upping its beauty game. The UK-based supermarket has added some 300 beauty products to its website, from well known brands such as Rimmel and Sally Hansen.
Walgreens Pays to Offload Boots Pension
Walgreens is set to pay £1 billion to offload the Boots pension scheme, a move reported by The Sunday Times
Haut.AI Secures Funding for AI-Driven Skincare
Haut.AI, a European company at the forefront of generative AI in the beauty and skincare industry, has raised €2 million in seed funding from LongeVC and the venture capital arm of Grupo Boticário shareholders.
Reckitt Benckiser Chair to retire; successor announced
Reckitt Benckiser has announced that Chris Sinclair will retire as Chair and step down from the board, having completed full 9-year term next year following the AGM in May. Sir Jeremy Darroch has been named as his successor.
Natura &Co agrees to sell The Body Shop to Aurelius
Natura &Co has announced that it has agree to sell The Body Shop to private equity firm, Aurelius for an enterprise value of £207 million – a far cry from the £880 million purchase price the Brazilian firm is rumored to have paid L’Oreal in 2017.
The end of Avon calling? Direct sales brand moves to Bricks and Mortar
Avon has announced an ‘exciting new chapter’ in its 137-year history. The Natura &Co-owned direct sales brand is set to open a series of bricks and mortar stores in the UK, Brazil and South Africa.
KraveBeauty unveils limited edition products with fully traceable tamanu oil
KraveBeauty has launched a duo of products designed to showcase its new commitment to responsibly and sustainably sourced ingredients. The brand ‘hit reset’ on its sourcing practices, aiming to gain full visibility into the process, improve working conditions and contribute to climate resilience.
L’Oréal and Cosmo’s Sustainable Fragrance Technology Partnership
L’Oréal Groupe and Cosmo International Fragrances have formed a partnership to introduce a new Green Sciences-based extraction process for creating fine fragrances.
Asket’s Environmental Impact Transparency Initiative
Asket, a Stockholm-based company, has introduced an “impact receipt” for its garments, detailing environmental data such as carbon emissions, water use, energy consumption, and the impacts of shipping and packaging.
Asos Launches First Physical Pop-Up
Asos, the online fashion retailer, is set to open its first physical pop-up store in London. This innovative venture, named “Asos In Real Life,” will open from November 23 to 26, coinciding with the Black Friday shopping season.
The Body Shop and Cruelty Free International call for UK animal testing ban
The Body Shop and Cruelty Free International are reigniting their fight against animal testing and calling for an outright ban on animal testing in the UK after the government’s stealth reintroduction of the practice via legislation that aligned the UK rules with REACH post Brexit.
KaDeWe dodges cyber attack with help from Berlin police
KaDeWe has narrowly averted becoming the victim of a cyber attack, with help from the Cyber Crime Unit of the Berlin police. The department store had to switch to emergency operation mode briefly while the threat was neutralized.
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.
Zegna signs licensing agreement with Give Back Beauty
Zegna has announced a long-term licensing agreement with Give Back Beauty covering the creation, production, marketing and distribution of fragrances and cosmetic products under the designer label.
Benko Ousted Amid Signa Struggles
René Benko has been dismissed from the helm of his real estate company, Signa, due to a financial shortfall impacting the firm’s extensive portfolio, which includes notable properties such as Selfridges and the Chrysler Building.
Puig Expands Headquarters, Eyes Sustainability
Puig has enlarged its Barcelona headquarters with a second tower, doubling its workspace.
Kurkdjian revives Baby Dior line
Dior has unveiled its new, re-birthed baby care line. The LVMH-owned brand’s Perfume Creation Director, Francis Kurkdjian has created a new scent for the range, Bonne Etoile.
Unilever backpeddles on brand purpose
As part of its recently announced action plan to ‘drive growth and unlock potential’, Unilever is dialling back on its pursuit of ‘purpose’ for some of its brands.
Unilever to freeze CEO pay until 2026 after shareholders reject remuneration report
After Unilever’s shareholders rejected its remuneration report in May, and following meetings with a series of its largest investors, the UK-based FMCG giant has determined to freeze CEO Hein Schumacher’s pay.
Lush to open London spa
Lush has announced the opening of a new location in London’s Covent Garden. The space will operate as a festive pop up in the lead up to the holidays before being expanded to include a spa in spring 2024.
Chanel creates new role: Director of Ideation and Creative Influence Strategies
Chanel has announced the appointment of Nadege Winter as Director of Ideation and Creative Influence Strategies. In this newly created role, Winter will craft strategic concepts for major upcoming influence programs as well as create and grow an ‘influence council’.
Sephora names Deborah Yeh Global Chief Marketing Officer
Sephora has announced the promotion of Deborah Yeh to Global Chief Marketing Officer. Yeh will take over from Steve Lesnaud, effective November 3.
Clariant buys Lucas Meyer for US$810 million
Clariant has announced that it has agreed to acquire Lucas Meyer Cosmetics from IFF for US$810 million. The deal is subject to regulatory approval and is expected to close early next year.
Unilever Appoints New Chief Financial Officer
Unilever has selected Fernando Fernandez as its new Chief Financial Officer (CFO), with his role commencing on January 1, 2024.
Beiersdorf Reports Robust Growth, Upgrades Guidance
Beiersdorf AG reported an 11.2% increase in organic growth in the third quarter of 2023, reaching a total of €7.3 billion in Group sales.
Manchester City Renews Rexona Partnership
Manchester City has renewed its global partnership with Unilever-owned Rexona, a relationship that has been in place since 2018 for the men’s team and was extended to include the women’s team in 2020.
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