Deals
Italian personal care and beauty manufacturer Sodalis Group will acquire Alberto V05, Zest soap, Sure deodorants and other personal care brands in a transaction with current owner Tengram Capital Partners expected to close by the end of October. Recent years have seen high private equity activity in cosmetics and personal care.
Perelel acquiring Loom online platform providing reproductive health, sexual wellness and parenting education. First direct-to-consumer product for Curive Healthcare’s Plum brand formulated for vaginal area dryness.
“We have a relatively low exposure to private label to start with. But we don't see penetration of private label going up in 2024,” says CEO Thibaut Mongon. Recent research from analysts, though, shows increase in consumers turning to lower-priced health and personal care alternatives.
“We're significantly investing more in reaching more consumers, but we're doing it in a very different way,” says CGO Charmaine England. Brands may be “iconic,” but on their own they’re not driving sales growth, says CEO Thibaut Mongon.
The public-private partnership follows a meeting in June between Unilever’s chief sustainability officer Rebecca Marmot, USAID administrator Samantha Power, EY global vice chalir, sustainability, Amy Brachio, and Sens. Dan Sullivan, R-AK, and Sheldon Whitehouse, D-RI, to discuss the impetus for the CIRCLE Alliance and Unilever’s experience to date implementing its plastics strategy.
L’Oréal and Galderma have signed a memorandum of understanding to collaborate on complementary research projects to discover ‘new avenues and accelerate innovation’ in the field of dermatology. L’Oreal has arranged to purchase a 10% stake in its partner.
Church & Dwight’s slower sales at retail in June-July than in January-May point to still slower results for rest of year. It doesn’t expect second-half help from gummy vitamin lines or give them a full vote of confidence for remaining in portfolio.
Estee Lauder Companies taps a CFO; L’Oréal SA expands SkinCeuticals brand in Japan through Cutera partnership; IFF's Shanghai Creative Center operational by September; vegan hair care brand Naturaz expanding retail with seed funding; American Exchange Group acquires Indie Lee; and US men using skin care up 68% since 2022.
Unilever hopes to double the value of its product innovations this year, ultimately targeting as many as 12 innovations, each costing more than €100m, beginning in 2025, CEO Hein Schumacher says during 25 July earnings presentation.
Through this exciting partnership and adoption of breakthrough technology, we are well-positioned to drive the creation of more sustainable and effective products that meet the demands of our consumers and fulfils our duty of care for the planet,” says L’Oréal Groupe’s Guive Balooch on the firm’s expanded partnership with Debut Biotechnology. More cosmetics news in brief.
Attorneys for some plaintiffs alleging harm from talc products J&J marketed ask a court to order the firm, along with a subsidiary holding company it created in 2021 to manage its talc liabilities and immediately placed in bankruptcy, to provide emails and other communications among in-house counsel and compel their testimony.
Executives at recent investor conference offer explanations of what’s happened to sales of the brands in addition to describing the strategies and decisions which have driven company-wide average 6.3% annual net sales growth over the past 10 years.
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.”
The negotiated revision of the Classification, Labeling and Packaging (CLP) regulation met with industry approval in April, even if it just kicks the can down the road with regard to classification of more-than-one-constituent substances (MOCS). DSM-Firmenich announces partnerships with plants in mind, Symrise’s new CEO maintains growth targets, and more news in brief.
Procter & Gamble will feature more than 30 of its brands in Paris 2024 Olympic and Paralympic Games-inspired campaigns spotlighting “Everyday Champions” in its portfolio.
Along with latest results, Kenvue says as its “transitions services agreement” with J&J ends, its board approves reducing global workforce by around 4%. It expects around $275m in pre-tax restructuring costs in both 2024 and 2025 without changes to its capital allocation priorities.
With NIVEA driving growth in its Consumer division, German firm Beiersdorf AG has signed a multi-year deal with Rubedo Life Sciences to develop anti-aging solutions and new products for the global market. More beauty business news, including L’Oreal, Inter Parfums, Galderma, and LVMH/Sephora sales updates.
From new cosmetic ingredient restrictions in the EU to beauty tech developments, M&A and industry leadership changes, beauty news in brief.
Hackensack, NJ-based Clinical Skin acquires French company Pierre Fabre Laboratories’ Glytone brand for an undisclosed sum, while Miami-based Leste Group buys a ‘significant’ stake in Prestige Cosméticos, a Brazilian distributor of luxury perfumes and cosmetics. More cosmetics news in brief.
Canadian firm’s eye health supplements Occuvite and PreserVision remain top sellers, with ReNu and Biotrue contact lens solutions and Lumify eye drops and skin care line rounding out its top 10 revenue generators.