The Procter & Gamble Co. reported tensions between China and Japan as well as “soft market conditions” drove sales of its SK-II skin care brand down 34% in the fiscal second quarter, while a later-than-expected cough and cold season cut into sales of respiratory products.
P&G Q2: Anti-Japanese Sentiment Sinks SK-II Sales As Late Cough/Cold Season Weighs On Health
P&G reports Chinese consumer backlash against Japanese brands over Fukushima nuclear facility wastewater disposal, combined with ‘soft market conditions,’ led to a mid-single-digit decline in organic sales for P&G’s skin and personal-care products in the fiscal second quarter.
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Coty Inc. reports fiscal second quarter sales slipped 3% on a reported basis to $1.67bn, reflecting further slowing of the mass beauty market, particularly color cosmetics.
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L’Oréal Groupe expects total sales in 2025 to beat 4%-4.5% growth anticipated for the overall beauty market, with US population growth, planned innovations boding well across its beauty businesses.
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Cincinnati-based P&G reports its antiperspirants/deodorants business is a ‘pocket of strength,’ growing 11% in the US in the fiscal second quarter and helping lift overall beauty sales as skin care stumbles.
New York-based International Flavors & Fragrances, Inc.’s Scent division is undertaking R&D in natural, synthetic chemistry and biotech molecules, says CEO Erik Fyrwald during a third quarter earnings presentation 6 November.
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Estee Lauder Companies collaborates with Serpin Pharma to explore anti-inflammatory innovation and skin longevity, while L’Oréal Group celebrates the grand opening of North America Research & Innovation Center with ribbon cutting event.
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K-beauty (Korean beauty)’s success in US e-commerce in 2024 was independent of overall US market beauty growth, surging 63% year-over-year on average, according to Samsung Securities.
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British consumer goods firm Unilever PLC announces it will replace CEO Hein Schumacher with CFO and Executive Director Fernando Fernandez 1 March.