Weekly News-20230929
BASF Personal Care Launches New Ingredient to Improve Skin Imperfections
BASF Personal Care has introduced Epispot?, a sustainably sourced cosmetic ingredient designed to target blemish-prone skin and enhance beauty and self-confidence. Blemish-prone skin is a common issue that affects individuals worldwide, regardless of gender, age, or ethnicity. It manifests in various ways, including shiny skin, enlarged pores, spots, and blemishes.
EU to Restrict Microplastic Ingredients in Cosmetics
Recently, in a significant move to safeguard the environment, the European Commission has adopted measures to restrict the intentional addition of microplastics to products under the EU chemical legislation known as REACH. These new rules are set to prevent the release of approximately half a million tonnes of microplastics into the environment. They aim to prohibit the sale of microplastics themselves, as well as products that intentionally incorporate microplastics and subsequently release them during use. Derogations and transition periods will be granted to affected parties to facilitate their adjustment to the new regulations.
Estée Lauder To Open an Atelier for Prestige Fragrance in Paris
To strengthen its flourishing luxury and prestige perfume business, Estée Lauder Cos. Inc. has announced plans to open a fragrance atelier in Paris next year on September 27. The company’s perfume business, which includes renowned brands such as Tom Ford, Estée Lauder, éditions de Parfums Frédéric Malle, Le Labo, Kilian Paris, Clinique, Jo Malone London, Aerin Beauty, and Aramis, has experienced impressive growth of nearly 40 percent since fiscal year 2019, prior to the pandemic.
Givaudan Supplier Grascent Exceeds RMB 300M in Revenue in H1
To strengthen its flourishing luxury and prestige perfume business, Estée Lauder Cos. Inc. has announced plans to open a fragrance atelier in Paris next year on September 27. The company’s perfume business, which includes renowned brands such as Tom Ford, Estée Lauder, éditions de Parfums Frédéric Malle, Le Labo, Kilian Paris, Clinique, Jo Malone London, Aerin Beauty, and Aramis, has experienced impressive growth of nearly 40 percent since fiscal year 2019, prior to the pandemic.
Rite Aid Considering the Possibility of Bankruptcy Plan
Recently, according to media reports, Rite Aid, the third-largest drugstore chain in the United States, is preparing to seek bankruptcy protection and may close 400 to 500 stores. The company is reportedly burdened with over $3.3 billion in debt and is facing over 1,000 federal lawsuits accusing it of contributing to the opioid crisis through excessive drug supply.
“The First Peptide Stock” Zhejiang Peptites Biotech Suspends IPO
On September 26, the Shenzhen Stock Exchange announced that Zhejiang Peptites Biotech (referred to as ZPC) had voluntarily applied to suspend the review process for its initial public offering (IPO) due to the update of financial information by the issuer and the sponsor.
Chinese Beauty Social Platform Receives $8.5M Exclusively from UK Venture Capital Firm Fuel Ventures
Recently, Fantastic Days, a subsidiary of Fanke (Dalian) Commercial Development Co., Ltd., announced the completion of an $8.5 million Series A financing round, exclusively invested by the UK venture capital firm Fuel Ventures. Fuel Ventures is one of the top ten early-stage technology venture capital firms in the UK, specializing in investing in leading global tech startups.
领英推荐
Chinese Recombinant Collagen Company Closes Series B Funding Round
On September 26, Biotech announced the completion of its Series B financing, led by Cenova Capital and co-invested by Evonik Industries AG, the German specialty chemicals company, through its venture capital division (referred to as Evonik below). The specific amount has not been disclosed.
Korean Company Shinsegae Int’l to be the Exclusive Distributor of D&G Beauty in Korea
Shinsegae International, a South Korean company, has announced the signing of an exclusive distribution contract with Dolce & Gabbana Beauty, the Italian cosmetic brand. This strategic move by Shinsegae International aims to strengthen its presence in the luxury cosmetics sector in South Korea.
LG H&H Acquires Korean Makeup Brand Hince
LG H&H Co., a South Korean company, has announced its acquisition of a 75% stake in Vivawave, the owner of the domestic premium makeup brand “Hince.” The acquisition is valued at 42.5 billion won ($31.5 million).
Seeking Dual Listing in Paris, What Move is Coty Planning Next?
Coty officially announced its plans for a dual listing on the Paris Stock Exchange. The beauty company, which owns brands such as Covergirl, Lancaster, and Kylie Cosmetics, Coty has made an official announcement regarding the initiation of a worldwide offering for 33 million shares of its existing Class A common stock. Under the leadership of its new CEO, Sue Y. Nabi, Coty has successfully turned around its performance in the past two years, achieving profitability in the fiscal years 2022-2023 after five consecutive years of losses from 2017 to 2021. With this dual listing in Paris, Coty aims to attract more European investors for further development.
Innovation: The Foundation of L’Oréal, a Centuries-old Beauty Group
On September 22nd, the L’Oréal “Innovator Z Summit” and the 20th Anniversary of ?Youth Fun were grandly held at Shanghai Jiao Tong University. The event was organized by L’Oréal Group and Shanghai Jiao Tong University. It was also the first time for L’Oréal CEO Nicolas Hieronimus to visit a Chinese campus. During the summit, Nicolas Hieronimus shared insights on topics such as technological innovation, sustainable development, and talent empowerment. Additionally, Nicolas Hieronimus announced the investment of L’Oréal Group’s first Chinese cosmetic ingredients innovation biotech company, SHINEHIGH INNOVATION, highlighting the importance of the Chinese market for L’Oréal’s innovation.
What did Unilever do Right to Achieve a Record-high Turnover of 60 Billion euros?
Recently, Unilever has hired Morgan Stanley and Evercore Inc to sell its non-core beauty and personal care brands, including Q-Tips and Impulse. The batch of brands planned for sale is named Elida Beauty. According to sources, Elida’s revenue is expected to reach approximately $760 million by 2022. This is the first major move since Hein Schumacher took over as CEO of Unilever in July this year, with his main focus being streamlining the business while addressing inflation. Under Hein Schumacher’s series of reform measures, Unilever’s turnover and net profit reached €60.1 billion and €8.269 billion respectively in 2022, with turnover hitting a historic high.