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Coty’s TJoy Unit Continues To Disappoint, Driving $253.3 Mil. Loss In Q3

 
• By Eileen Francis

Coty Inc. recorded a $316.9 million asset write-down in the third fiscal quarter related to its TJoy skin-care business in China, driving a $253.3 million loss overall. The firm will reorganize its mass-market business in the country to improve profitability in Skin & Body Care, which booked an 8% increase in global revenues on the strength of the firm’s philosophy brand, among other highlights, despite TJoy’s drag on the segment’s performance.

[Coty Inc.] plans to reorganize its mass-market business in China after efforts to improve profitability of its TJoy skin-care business came up short, driving a net loss of $253.3 million in the firm’s fiscal 2014 third quarter.

Overall revenue was up 1% on a reported basis to roughly $1.01 billion for the period, according to the New...

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FTC Consumer Privacy Policy Driven By ‘Straw Man’ Arguments – Commissioner Holyoak

 
• By Eileen Francis

The US FTC’s contention that ‘notice and choice’ has failed as the cornerstone of consumer privacy regulation and must be abandoned in favor of data minimization and other more stringent measures does not adequately account for the complexity of business practices and consumer behavior, FTC commissioner Melissa Holyoak asserted at the NAD’s 2024 Annual Conference.

FTC’s New Commissioner ‘Dismayed’ By Agency Overreach

 
• By Eileen Francis

FTC Commissioner Melissa Holyoak says the agency has acted outside the bounds afforded by Congress, citing several areas within consumer protection, including a recent update to the final rule for the Health Breach Notification Rule and the commission’s use of notices of penalty offense to serve as the basis for Section 5 settlements. 

Beauty Brands Not On TikTok Shop ‘Really Missing Out’ – KO-Pack

 
• By Eileen Francis

At one year, TikTok Shop conjures the early days of Amazon, representing the ‘Wild West’ of beauty ecommerce, said co-founders of private label and contract manufacturing company KO-Pack at the IBA Cosmetics Convergence Fall 2024 Virtual Symposium, “The Promise and Pitfalls of TikTok Shop.”

Final Chance To Have Your Say: Take Our Reader Survey This Week

 
• By Ryan Nelson

Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.

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US FDA Extracts More Evidence To Ban Kratom

 
• By Malcolm Spicer

Recent warning letters to seven companies marketing products with kratom extract known as 7-OH are FDA’s first in three years referencing unlawful products containing kratom and the first of all its kratom-related warnings to reference extracts from the botanical.

House OMUFA Reauthorization Bill Takes On Clarifying Standards For Tests To Meet GRASE

 
• By Malcolm Spicer

Health Subcommittee will discuss reauthorizing OMUFA during a hearing on how to “maintain and improve” the public health workforce and rural health as well as access to OTC medicines.

Beauty Market Uncertainty Stalls Large M&A, But Middle-Market Deals Continue – Capstone

 
• By Eileen Francis

Middle-market beauty deals, which are defined as those with targets of $10m to $100m worth of enterprise value, are driving transaction momentum year-to-date that is in-line with levels during the same period last year, according to Capstone Partners’ Consumer Investment Banking Group.