Coty to Stop Business in Russia

2 Mar

Coty Inc. will wind down operations in Russia, which make up barely greater than 3 percent of the whole business, the corporate said Wednesday. “After careful consideration, including evaluation of relevant U.S., U.K. and other applicable regulation, Coty has decided to wind down its Russian operations starting immediately,” the corporate said in an announcement. Coty’s move to stop operations in Russia comes nearly two months after many big beauty and consumer products corporations, including Coty, halted industrial activity there, as a result of Russian president Vladimir Putin’s continuing attack on Ukraine. Coty is the tenth largest beauty manufacturer on the planet, in accordance with the Beauty Inc Top 100. The corporate posted $5 billion in sales for calendar 2021 — 3 percent of...

0 Comments

28 Feb

Function of Beauty Acquires Skin Care Technology Business

by Beautifaire101

Beauty, Featured

Function of Beauty has acquired Atolla, a customized skincare and technology business, in its very first acquisition. Based on cofounder and chief executive officer Zahir Dossa, the deal should allow Function to further expand its personalized skincare offerings. Atolla, which launched in mid-2019, created a patented technology to investigate people’s skin and create customized serums that change over time to fulfill customers’ needs. Dossa said Atolla’s patent was “really impressive,” and that fairly than constructing out all the info science internally, it made sense for Function of Beauty to amass the corporate. “They’ve got a best-in-class data-science engine,” Dossa said. “Plus, they’ve got this patented skincare system, which makes it even easier to have a conversation and ongoing relationship with customers. With this...

0 Comments

24 Feb

Beauty Business Trends From the 2024 CEW State of

by Beautifaire101

Beauty, Featured

Between the sustained growth of dupe culture, skincare’s surprise sales swell — and the category’s latest Gen Alpha proponents — and the rise in U.S. social commerce and AI-driven personalization, the inner workings of the wonder industry are evolving rapidly. On Thursday, CEW’s 2024 State of Beauty Report saw experts from Iced Media, CreatorIQ, Spate, Google, Mintel, NIQ and Circana present key themes and insights pertaining to the state of the wonder industry. Here, the highest themes and takeaways. From social commerce to AI, early adoption is vital With social commerce forecasted to rake in $70 billion within the U.S. this yr alone, Iced Media founder and chief executive officer Leslie Hall dove into the TikTok Shop juggernaut. Beauty reigns...

0 Comments

3 Feb

The Body Shop Will Sell Most Mainland Europe and

by Beautifaire101

Beauty, Featured

PARIS — The Body Shop has signed an agreement with a global family office to sell most of its business in mainland Europe and in parts of Asia. Financial terms of the deal, which incorporates each physical and digital operations, weren't disclosed. The a part of the activity effected equals to about 14 percent of The Body Shop’s business worldwide. The sale doesn't impact its global head franchise partners, which operate on a rustic or territory level, but some sub-franchise partners are to be included within the sale. In a third-quarter 2023 sales statement, The Body Shop’s then parent company Natura & Co. wrote that projects underway included “turbo-charging the support for our head franchise partners, with a concentrate on our top-h.f. partners in the...

0 Comments