Beauty news and archive

L’Oréal invests in biotech company Debut

L’Oréal’s venture capital fund Bold has announced its latest investment in US biotech company Debut as it looks to rapidly scale the firm’s manufacturing platform. Through the funding, Debut is also looking to meet the growing demand for products made using biomanufacturing, building on the existing joint development programmes of Debut and L’Or...

Business

Guerlain ventures into prestige haircare market

Guerlain, the LVMH-owned French cosmetics house, is set to venture into the haircare market, as per a report from WWD. The launch of Guerlain's inaugural haircare line, scheduled for June 15th, signifies the company's strategic move into a prestigious sector that is projected to experience significant growth. According to Statista, the prestige...

Business

Walgreens Boots Alliance reportedly cutting 10 percent of corporate jobs

Pharmaceutical group Walgreens Boots Alliance (WBA) has reportedly said that it would be cutting 10 percent of its corporate jobs as it looks to streamline operations. The company said that it would be eliminating 504 roles, many of which are believed to be based at the Deerfield and Chicago offices. In a statement to Reuters, the company noted...

Business

Ulta Beauty sales increase 12.3 percent for Q1, 2023

Ulta Beauty has reported another increase in its net sales for the 13-week period ended April 29, 2023, rising 12.3 percent to 2.6 billion dollars, compared to 2.3 billion dollars in the same period last year. The retailer said the results came due to an increase in comparable sales, which rose 9.3 percent, a strong new store performance and...

Business

Revolution Beauty co-founder steps down, but revenues are up

Revolution Beauty has announced that its co-founder Tom Allsworth will be stepping down from his position as non-executive chairman, and will be succeeded by the company’s senior non-executive director Derek Zissman. Zissman joined Revolution on its IPO in July 2021, and had most recently led an independent investigation committee launched in...

Business

Elf Beauty Q4 net sales grow 78 percent

Elf Beauty has outlined its results for the three and 12 months ended March 31, 2023, where it saw net sales grow by 78 percent in Q4. Its sales rose to 187.4 million dollars during this period, largely driven by strength across its retail and e-commerce channels, while its gross margin also increased by 470 basis points to 69 percent....

People |Beauty

Virtue Labs taps Jose Luis Palacios as CEO

Virtue Labs, the fast-growing biotech haircare company, has tapped Jose Luis Palacios as its chief executive officer as it announces a new growth equity finance round led by Clearasil and Just for Men owner Combe, Inc., its majority shareholder. Palacios succeeds Virtue Labs founder Melisse Shaban, who launched the haircare brand in 2017. Shaban...

Retail |Beauty

Haus Labs by Lady Gaga to launch exclusively at Sephora UK

The make-up brand Haus Labs by Lady Gaga is to debut in the UK, exclusively at Sephora UK, next month. Lady Gaga’s brand, which is already sold exclusively at Sephora in the US and Canada, will be available from the beauty emporium’s new UK store at Westfield White City and online at Sepora.co.uk from June 6. The viral and award-winning Haus...

Business

Ariana Grande’s r.e.m. beauty secures strategic investment

R.e.m. beauty, the brand founded by singer and actress Ariana Grande, has received a strategic investment led by Sandbridge Capital as it looks to optimise its global potential. Launched by Grande in 2021, r.e.m. beauty has grown to become an acclaimed brand, earning many accolades from various publications and offering an array of cosmetics...

People |Beauty

Stila Cosmetics names new chief marketing officer

Beauty brand Stila Cosmetics has appointed Mary Rodrigues as its chief marketing officer. Rodrigues, who has more than 25 years of experience in the global beauty and luxury and prestige retail industries, will report to chief executive Michelle Kluz and oversee Stila Cosmetics brand and product marketing, creative, consumer insights,...

Business

Nirvana Brands acquires Lovely Distribution Company to expand fragrance portfolio

Luxury beauty distributor Nirvana Brands has announced the acquisition of Lovely Distribution Company as it looks to make use of the company’s luxury fragrance portfolio. Through the acquisition, Nirvana is planning to expand its own product line while also leveraging more opportunities for growth in the luxury beauty industry as a whole. In a...

Fashion

Is Beyoncé entering the haircare market?

In an Instagram post on Tuesday singer Beyoncé sent the internet into a frenzy with a series of images that seemed to hint at an upcoming venture in the beauty industry. The photos featured the multidisciplinary artist in various hair-related settings, including a shot of her wielding a heat tool in front of a mirror and a nostalgic image of her...