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BusinessFeatured

Puig reports 3.6 billion euros in revenue for 2022

Beauty and fashion giant Puig has outlined its financial results for the year 2022, reporting an impressive 3.62 billion euros in net revenues, up 40 percent from 2021. The Spanish group, which operates beauty for the likes of Charlotte Tilbury, Jean Paul Gaultier, and Dries Van Noten, said EMEA was its highest performing region, representing 54...

24 Mar 2023

Retail

Asos to open three Face + Body pop-ups as it expands category

Online retailer Asos is set to open three pop-ups for its beauty and cosmetics range, Face + Body, to highlight the expansion of the category’s offer. “Experiential” pop-ups will appear in Liverpool, London and Manchester over the next three days, until March 26, each supported by nine Face + Body brands, including L’Oréal Paris Elvive, NYX and...

24 Mar 2023

BusinessFeatured

The RealReal to wind down beauty business amid streamlining efforts

The RealReal is winding down its beauty business to focus on its luxury consignment business amid an ongoing streamlining at the US resale giant. “We’re prioritizing our efforts on growing our luxury consignment business,” a spokesperson told WWD. “With that, we have been deemphasizing the direct side of our business, including our beauty...

23 Mar 2023

Business |Beauty

House of M Beauty secures 2 million US dollars

House of M Beauty, the saffron-infused luxury skincare brand, has raised 2 million US dollars in its first seed round to support its retail expansion, with the goal to hit 5 million US dollars at the end of the funding round. The brand, which harnesses the antioxidant, anti-inflammatory, and antibacterial power of the highest quality saffron,...

22 Mar 2023

Business

L’Oréal becomes founding investor in sustainable material developer, Geno

Beauty giant L’Oréal has become the final founding investor in Genomatica (Geno), a manufacturer of sustainable materials, joining the likes of Unilever and Kao Corporation in backing the venture. L’Oréal’s presence will bring the group’s collective member revenue to over 100 billion dollars as it also accesses a wide range of products for...

21 Mar 2023

FashionFeatured

Hermès bets on expanding its beauty range

After sales of its beauty and perfume soared 15 percent last year, Hermès is expanding the category with new products. Hermès debuted its first fragrance in the 1950s, but perfume only accounts for 4 percent of total revenue, while leather goods accounts for nearly half. With a new focus on beauty, Hermès is tapping into a lucrative category,...

21 Mar 2023

Business

Bed Bath & Beyond seeks to reverse stock split plan

Bed Bath & Beyond has announced that it is looking to approve a reverse stock split, a move that sent its shares plummeting by 13 percent. The company said it is planning to hold a special meeting of shareholders on March 27 in an attempt to achieve the approval, seeking to split at a ratio in the range of 1-for-5 to 1-for-10, with the ratio to...

20 Mar 2023

Business

Beauty giant Revlon swings to Q4 loss

US beauty giant Revlon swung to a loss in the fourth quarter of the year as its revenue fell 4.1 percent. In the quarter ended December 31, the company made a net loss of 178.5 million dollars compared to a profit of 9.9 million dollars in the prior-year period, which it said was primarily due to 172.7 million dollars in charges linked to its...

17 Mar 2023

Business

NIQ launches Beauty Trailblazer Programme to support minority-owned brands

Market research and data analytics platform NielsenIQ (NIQ) has launched a new Beauty Trailblazer Programme to support minority-owned beauty brands through access to data sets. The three-month programme is open to emerging brand leaders, with selected finalists to gain access to the platform’s data, as well as support from data professionals and...

17 Mar 2023

Business

Michael Malul London launches DTC e-commerce with ESW

Fragrance manufacturer Michael Malulu London has launched a new international direct-to-consumer (DTC) e-commerce platform for the brand via a partnership with ESW. The Ohio-based brand will now be able to ship to 24 countries across Europe, as well as the UK and US. It comes as various countries in the EU and North America begin to crack down...

17 Mar 2023

Business

Coty updates FY sales outlook

Coty has upped its fiscal 2023 guidance based on its third-quarter sales growth. The US beauty giant said Thursday its core Q3 like-for-like sales growth is tracking at 10 percent, reflecting an acceleration from the 7 percent like-for-like growth it saw in the second quarter. Based on those numbers, the company now expects FY23 core...

16 Mar 2023

Business

Lush and Silverwood Brands clash over sale of shares

Lush has come head-to-head with consumer goods group Silverwood Brands months after it snapped up a stake in the skincare retailer. In December 2022, Silverwood entered into a sale and purchase agreement for a 19.8 percent stake in both Lush Cosmetics Limited and Cosmetic Warriors Limited – collectively known as Lush – for a total consideration...

16 Mar 2023