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Honasa Consumer stock hits record low after Q2 loss - Global Cosmetics News
The parent of Indian skin care brand Mamaearth, Honasa Consumer saw around 30 percent wiped off its value as its stock plummeted following the release of its second-quarter results. Shares hit a record low of ₹242.35, for a market cap of ₹86 billion.
Kimberly Clark trials end of bundling to save 15 tonnes of plastic annually - Global Cosmetics News
Kimberly Clark has branded a trial with Australian supermarket chain Woolworths whereby the manufacturer stopped ‘bundling’ its toilet paper – a practice whereby toilet rolls are packed directly onto pallets without secondary wrap – as a ‘preliminary success’.
Symrise acquires majority stake in Probi - Global Cosmetics News
Symrise has acquired approximately 90.2 percent of the shares in Probi. The flavors and fragrances firm announced a public offer and has acquired an additional 321,620 shares in Probi (corresponding to 2.8 per cent of the outstanding capital and votes in Probi) in the market at the highest price of SEK 350.
Unilever partners with Nufarm to develop ‘crop of the future’ - Global Cosmetics News
Unilever and Nufarm have announced a strategic partnership which aims to cultivate crops with significant biomass to produce sustainable oils. The oil will be a source of fatty acids, a core base ingredient for the UK-based FMCG manufacturer’s laundry detergents and beauty and personal care products.
L'Oreal SAPMENA hits 100 percent renewable energy target - Global Cosmetics News
L'Oréal has reached 100 percent renewable energy across its operated sites in the South Asia Pacific, Middle East & North Africa (SAPMENA) Zone as at end-2023. This spans all factories, distribution centres, administrative offices and a research & innovation centre within the Zone.
Macy’s delays earnings release as employee found to be concealing up to US$154 million delivery expenses - Global Cosmetics News
Macy’s is delaying its earnings release and conference call for the third quarter of 2024 to allow for completion of an independent investigation into employee misconduct related to delivery expenses.
Walmart to dial back on diversity? - Global Cosmetics News
Walmart is said to be dialling back its efforts to promote diversity, equity and inclusion. The world’s largest retailer will no longer use the term ‘DEI’ in official communications, consider race or gender when granting supplier contracts or participate in equity rankings.
Reliance Brands President to step down - Global Cosmetics News
Reliance Brands President and Managing Director, Darshan Mehta is rumored to be stepping down from his role. Mehta is thought to be transitioning into an advisory role and his successor is yet to be announced. In the interim, a leadership team of senior executives, including the CFO and Vice President will manage the company’s operations.
Director of Boadicea The Victorious who continued to ship to Russia will not face criminal proceedings - Global Cosmetics News
A former Director of luxury fragrance brand, Boadicea The Victorious has dodged criminal proceedings despite a judge finding ‘compelling evidence’ that he had knowingly breached sanctions and concealed trade with Russia.
Kohl’s names next CEO - Global Cosmetics News
Kohl’s has announced the appointment of Ashley Buchanan as CEO and Board Member, effective January 15, 2025. Current CEO, Tom Kingsbury plans to step down on the same date. He will retain an Executive Advisory Role and Board Seat through his retirement in May 2025.
Unilever invests €100 million to bring fragrance capabilities in house - Global Cosmetics News
Unilever is investing €100 million to create and scale an in-house fragrance design and creation function. The UK-based FMCG giant will recruit expert perfumers in the UK, US and India to work across its global portfolio of brands.
DSM-Firmenich sells majority of Robertet stake - Global Cosmetics News
DSM_Firmenich has announced that it has sold 0.135 million Robertet ordinary shares, upsized from circa 0.12 million initially. The offering was made at a price of €850 per share, for a total gross amount of circa €115 million, representing approximately 6 percent of Robertet share capital.
India’s Drugs Controller General to crack down on ‘misleading’ cosmetics claims - Global Cosmetics News
India’s Drugs Controller General has announced a crackdown on ‘misleading’ cosmetics claims and urged the industry to adhere to regulatory guidelines after it emerged that some anti-aging claims were over-stepping bringing them into the remit of the regulatory controls for drugs.
Amcor to merge with Berry in US$8.4 billion deal to create packaging behemoth - Global Cosmetics News
Amcor has announced that it has entered into a definitive merger agreement with Berry, under which the two companies will combine in an all-stock transaction valued at US$8.4 billion with combined revenues of US$24 billion.
Galderma Backers Unload US$1.45 Billion Stake - Global Cosmetics News
Major shareholders in Swiss skincare giant Galderma Group AG, including EQT AB, the Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte, are selling a 6.7% stake valued at approximately 1.28 billion Swiss francs (US$1.45 billion)
Lancome names Olivia Rodrigo as Global Brand Ambassador - Global Cosmetics News
Lancome has named Gen Z icon, Olivia Rodrigo as its newest Global Brand Ambassador. The singer-songwriter will be the face of exciting new launches and campaigns to be announced in the near future, the L’Oreal-owned brand said.
Claire’s launches fragrance line for ‘Gen Zalpha’ - Global Cosmetics News
Claire’s is beefing up its beauty offer with a new line of fragrance and body care products aimed at ‘Gen Zalpha’. C by Claire’s, as the new range has been named, features foaming moisturizers, bath and body scrubs, hair and body mists and fragrances.
Roblox tightens parental controls after Hindenburg brands game ‘a pedophile hellscape for kids’ - Global Cosmetics News
Roblox has announced the launch of new parental controls and gatekeeping features. The videogame was branded ‘a pedophile hellscape for kids’ by Hindenburg Research in October, and its creator charged with ‘compromising child safety in order to report growth to investors’.
Yatsen Q3 2024: revenue drops 5.7 percent to RMB677 million - Global Cosmetics News
Yatsen has reported its results for the third quarter of fiscal 2024. The Chinese owner of Eve Lom saw net revenues drop 5.7 percent to RMB677 million. Gross profit inched up 0.2 percent to RMB513.8 million and gross margin increased 75.9 percent to 71.4 percent.
Drunk Elephant announces voluntary recall of three products in US - Global Cosmetics News
Drunk Elephant has announced a voluntary recall of ‘a small number of lots’ of three products in the US. Affected products include set batches of Beste No.9 Jelly Cleanser, Protini Polypeptide Cream and Lala Retro Whipped Cream.
Violet Grey partners with Hirshleifers - Global Cosmetics News
Violet Grey has announced a partnership with Hirshleifers. The beauty retailer will curate a selection of products for the Manhasset department store’s community, which includes products from Susanne Kaufmann, Le Labo and Perfumehead, among others.
Korean duty free sales suffer as Chinese tourists spend on home turf - Global Cosmetics News
Four of South Korea’s largest duty-free operators, Lotte, Shilla, Hyundai and Shinsegae, posted losses for the third quarter of fiscal 2024 despite climbing passenger numbers – the first time all four have posted losses in a single quarter since 2022.