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29 Feb

Puig Acquires Majority Stake in Byredo

by Beautifaire101
Beauty, Featured
Puig Acquires Majority Stake in Byredo
After per week of untamed speculation and inaccurate press reports, Byredo has a buyer. Puig has acquired a majority stake within the brand founded by Ben Gorham in 2006. The brand, which has been backed by family office Manzanita since 2013, is claimed to have been considering deal options since last September, when it reportedly hired Goldman Sachs to contemplate a deal. The transaction comes during a time of major growth within the fragrance market. Last week, Le Figaro reported that L’Oréal was acquiring a majority stake within the brand, which sources near the brand on the time denied. Terms of the deal weren't disclosed, but Gorham will proceed as chief creative officer and Manzanita Capital will remain as a shareholder, based on a...
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24 Feb

Compass Diversified to Acquire Majority Stake in The Honey

by Beautifaire101
Beauty, Featured
Compass Diversified to Acquire Majority Stake in The Honey
The flurry of beauty and wellness deals so early in 2024 continues. Just days after Puig snapped up Dr. Barbara Sturm, investment firm Compass Diversified revealed it has acquired a majority stake in plant-derived feminine care brand The Honey Pot Company for an enterprise value of $380 million.  Founded in 2012, Atlanta-based The Honey Pot Co. offers products across the female hygiene, menstrual, consumer health and sexual wellness categories that might be present in greater than 33,000 stores across the U.S. including Goal, Walmart, CVS and Walgreens. Annual sales are understood to be around $120 million. As a part of the deal, The Honey Pot Co. will proceed to be headed by its current leadership team, and existing owners and management will retain...
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10 Dec

China ends mandatory animal testing for a majority of

by Beauty Tips
Beauty, Featured
China ends mandatory animal testing for a majority of
Back in 2019, China began moving away from post-market animal testing, which was previously required by law. Today (May 1), the Chinese government enacted the following step in its journey to cruelty-free cosmetics, ending all mandatory animal testing for a majority of general cosmetics. First announced in March this 12 months, via a notice posted on the National Medical Products Administration website, the change will allow firms to market most imported cosmetics — including shampoo, body wash, lipstick, and makeup — without the formerly required animal testing. It is a pretty significant change, on condition that China is the second-largest cosmetics market after the US, bringing in more than £4 billion in revenue. Previously, cruelty-free firms (equivalent to Fenty Beauty) were restricted...
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5 Jul

Coltorti Sells Majority Stake to South Korean Group NHN Commerce

by Beautifaire101
Beauty, Featured
Coltorti Sells Majority Stake to South Korean Group NHN Commerce
MILAN — Italian luxury multibrand retailer Coltorti has a latest partner. NHN Commerce, a worldwide distributor and licensee of brands in the style and wonder sector in South Korea, has acquired a majority stake within the family business, which was established in 1934 in Jesi, in Italy’s Marche region. Details on size of the stake haven't been disclosed, however the South Korean group subscribed to a ten million euro capital increase of Ikonic Srl, which is Coltorti’s parent company. Maurizio Coltorti, who represents the third generation of the founding family and who has led the international expansion of the business, will retain “a big minority stake,” based on the corporate, in addition to the role of director. Managing director Riccardo Bilancioni can be...
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