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2024 saw significant regulatory developments in the beauty and cosmetics industries, including global PFAS bans, anti-dumping duties, FDA warnings, trade agreements, and stricter compliance guidelines, highlighting an ongoing shift toward consumer safety, environmental sustainability, and ethical practices.
2024 was a dynamic year for beauty and retail funding, marked by significant investments, high-profile IPOs, strategic acquisitions, and bold financial moves that fueled global expansion, innovation, and sustainability efforts across the industries.
The family of Walmart’s founder, the Waltons have topped a list of the world’s wealthiest families. The Waltons boast a combined fortune of US$432.4 billion, placing them in the number one spot. Ranked fourth are the Hermes family, while the Wertheimers (Chanel) dropped to tenth.
The British Beauty Council has announced that its Beauty Week will return in 2025. The event, which will take place at the end of October, will spotlight the power of innovation, technology and growth with its chosen theme, the Future of Beauty.
Incheon Airport has bowed to pressure to help Korea’s struggling duty free operators, ushering in temporary rent relief for select stores. Rent for 12 stores across five zones of the airport will now be calculated based on sales.
Puig and entrepreneur Charlotte Tilbury have announced the extension of their strategic partnership in the founder’s eponymous beauty brand until the end of 2030. Under the terms of the deal, Tilbury will retain a minority stake with Puig to progressively assume full ownership by 2031.
Serruya Private Equity has agreed to buy The Body Shop Canada. Financial terms of the deal were redacted from the court documents but the same papers reveal that The Body Shop Canada owes some CAD$11.5 million and CAD$12.5 million to its creditors.
The Estee Lauder Companies has announced the departure of Israel Assa, Global President, Travel Retail Worldwide, with immediate effect. Strategic Advisor since June 2024, Olivier Dubos has been announced as SVP, General Manager, Travel Retail Global.
Weinberg Capital Partners (WCP) has announced a majority investment in French beauty packaging supplier, Cosmogen. Financial terms of the deal were not disclosed; Cosmogen has experienced strong organic growth, with a turnover of nearly €25 million in 2024.
Mao Geping saw its share price soar 85 percent following its debut on the Hong Kong Stock Exchange. The company raised some US$300 million via its IPO, making it the most successful flotation of its class in the city since 2020.
LVMH Recherche, the research and development arm of LVMH Beauty, has entered into a strategic multi-year partnership with Integrated Biosciences, a biotech innovator specializing in artificial intelligence (AI) and synthetic biology.
A 2025 consumer trends report by Coefficient Capital and The New Consumer revealed that 45% of surveyed Americans have purchased through TikTok Shop, with fashion and beauty items ranking as top categories.
Sycamore Partners is said to be in talks to acquire Walgreens Boots Alliance. The private equity firm is rumored to be planning to take the drug store giant private. The whispers sent share prices up 28 percent – the company’s biggest single-day gain since 1980.