For Kenvue, 2023 “was really about separating from J&J” as a segment “mostly focused on profit and cash,” says CEO Thibaut Mongon. “But in 2024, you see a very different Kenvue in action.”
Kenvue Inc. still is moving from providing a steady cash stream from the consumer health product market for former parent Johnson & Johnson to becoming “an independent company focused on accelerated profitable growth,” says CEO Thibaut Mongon.
“That's what the entire organization is focused on,” Mongon said on 4 June at Deutsche Bank’s dbAccess Global Consumer Conference.
Lisa Sequino returns to Estee Lauder to lead the strategic direction and global growth of its makeup brands. Church & Dwight has signed up two-time Olympic Gymnast Jordan Chiles as an ambassador for its Hero Cosmetics skincare brand. Plus more beauty news in brief.
Kim Kardashian lifestyle company SKIMS buys back rights to SKKN by Kim from Coty, Inc., which had purchased a 20% interest in the brand in 2020 for $200m. Separately, NYX Professional Makeup partners with Warner Bros. to launch the “A Minecraft Movie” collection.
L’Oréal USA has sold multi-cultural hair care brand Carol’s Daughter to an independent beauty entrepreneur with a ‘proven track record’ of acquiring and growing beauty brands, while it remains under the leadership of its founder and new President, Lisa Price.
Egis is the beneficiary as Teva again trims its OTC portfolio with the sale of Hungarian skin-care brand Neogranormon.
E.l.f. Beauty, Inc. has agreed to acquire celebrity and model Hailey Bieber’s rhode lifestyle beauty brand for $1bn, the firm reported during a 28 May fiscal fourth quarter earnings call, during which it also announced plans to raise product prices to ‘partially’ mitigate the impact of tariffs.
After a Texas judge denied a bankruptcy plan, Johnson & Johnson attorneys plan to focus on debunking what they see as dubious scientific claims in civil court.
The FTC’s Green Guides proposed update was expected by the end of the Biden Administration and there’s no indication it will be unveiled soon, says Mary Engle, BBB National Programs Exec VP, Policy. She also discussed the importance of industry self-regulation of artificial intelligence.
