ArmaniL’oreal Groupe is said to only consider beauty business at Armani. L’Oréal SA, named by Giorgio Armani as a potential investor in the late Italian fashion mogul’s eponymous business, would only be interested in its profitable beauty arm, according to a person familiar with the matter.
The French beauty giant was one of three preferred bidders cited in Armani’s will for an initial stake sale of 15% in Giorgio Armani SpA, which his heirs were directed to complete within 18 months. The others were LVMH Moët Hennessy Louis Vuitton SE and EssilorLuxottica SA, and Armani also said the buyer would have the opportunity to raise its stake to a majority after three years. Armani’s death this month at the age of 91 has triggered intense speculation and analysis about which company would make the most sense as a buyer. He created a sprawling empire ranging from ready-to-wear, haute couture and interior decoration, as well as eyewear with EssilorLuxottica. Watches bearing the founder’s name are also sold via Fossil Group Inc. L’Oréal, which has a license with Armani to market its fragrance, makeup and skincare products until 2050, will assess the Armani sale process but will stick to its core beauty strategy, the person said on condition of anonymity. Representatives for Armani and L’Oréal didn’t immediately respond to a request for comment |
Louis VuittonLouis Vuitton beauty brand has officially launched. Louis Vuitton has announced the arrival of La Beauté, an “elevated make-up line”, as colour cosmetics continue to be seen as key growth avenues for ultra-luxury labels.
And it comes as the company announces the official arrival of Dame Pat McGrath as creative director, Cosmetics, for La Beauté (although she’s clearly been working on this project for some time). LVMH’s star brand said the launch expands the House’s vision that’s “rooted in travel, creativity, and savoir-faire,” and introduces a “highly curated offering of the finest quality make-up, housed in objets d’art designed to be kept forever”. It added that it’s “redefining beauty as a lifestyle, as an experience and as a dedicated art form,” and is setting “a new standard in luxury beauty”. What this means in practice is 55 lipsticks (after all, LV is 55 in Roman numerals), 10 balms and eight eye palettes with 20 August set for the Chinese launch, then 25 August as a wider digital pre-launch date and a global debut later next week. The company said those lipsticks, balms, and eyeshadows (priced from $160 to $250) are “objects of desire that echo the trunk-making, artistry, and cultural vision at the heart of Louis Vuitton, each with a McGrath twist. As with the Maison’s most iconic pieces across fashion, accessories and fragrance, every detail has been considered, refined, and perfected” |
KeringL’Oréal acquires Kering’s Beauty for $4.6 Billion. Kering and L’Oréal announced today that they are entering a long-term strategic partnership in luxury beauty and wellness. This binding agreement encompasses the acquisition of the House of Creed by L’Oréal, the beauty and fragrance licenses of iconic Houses of Kering and an exclusive venture to explore business opportunities in the field of wellness and longevity.
Building on the success of Yves Saint Laurent Beauté, this alliance further consolidates the long history of collaboration of two global leaders with complementary strengths — iconic luxury brands of Kering and the world-class expertise of L’Oréal in beauty — to accelerate growth and unlock considerable value across high-potential categories. Under the terms of this agreement, Kering has the right to sell Kering Beauté including the House of Creed to L’Oréal. A true heritage name in haute parfumerie, Creed stands among the leading high-end luxury fragrance Houses, celebrated for its craftsmanship and mastery of rare natural ingredients. As part of L’Oréal Luxe, Creed will be best positioned to accelerate even further its global development across both men’s and women’s markets. The partnership includes the rights to enter into a 50-year exclusive license for the creation, development, and distribution of fragrance and beauty products for Gucci, commencing after expiration of the current license with Coty, and respecting the Kering group’s obligations as per the existing license agreement. Kering will also grant L’Oréal 50-year exclusive licenses for the creation, development, and distribution of fragrance and beauty products for Bottega Veneta and Balenciaga, starting upon closing of the announced transaction. A strategic committee will be established to ensure coordination between Kering brands and L’Oréal and monitor the progress of our partnership. |
SaksSaks Global files for bankruptcy under financial strain of Neiman Marcus takeover. Saks Global has filed for bankruptcy protection after collapsing under the financial strain of its US$2.7bn acquisition of department store chain Neiman Marcus in 2024.
The luxury US retailer commenced voluntary Chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas to facilitate its ongoing transformation. Department stores Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow will all remain open for trading during this period. To support the financial turnaround, Saks Global has secured a financing commitment of approximately $1.75bn. The business will also evaluate its operational footprint and invest resources where it has the “greatest long-term growth potential”, according to Saks Global. Saks Global added in a statement: “This approach reflects an effort to focus the business in areas where the company’s luxury retail brands are best positioned for sustainable growth.” The bankruptcy filing follows Saks Global missing a $100m debt payment related to its purchase of Neiman Marcus, according to a report by the Wall Street Journal. The group includes 70 luxury retail locations under the Saks Fifth Avenue, Saks off 5th, Neiman Marcus, and Bergdorf Goodman. The combined business also includes a $7bn portfolio of retail real estate holdings from HBC’s US real estate assets and Neiman Marcus Group’s real estate assets |
AS Beauty shutters Coverfx and Mally Beauty as market challenges bite. Brand owner AS Beauty has shuttered two of its brands, CoverFX and Mally Beauty, amid mounting market challenges.
CoverFX took to Instagram to announce its closure, thanking its community for “more than 20 years of love, loyalty and beauty without compromise”. The brand cited tariffs and a shifting global market as being behind its decision to shutter. CoverFX’s Instagram post read: “While this chapter closes, our gratitude for this community and the impact we have made together will always remain. “As part of this transition, our teams will no longer be monitoring or replying to messages in our CoverFX inbox. “You can still shop your favourite products on coverfx.com and Amazon.com while supplies last.” CoverFX was previously owned by L Catterton before being acquired by AS Beauty in February 2022. Mally Beauty, founded by celebrity make-up artist, author and on-air personality Mally Roncal, has also announced its closure. The brand is best known for its Evercolor Shadow Sticks and Face Defender setting powder, along with foundations and lip glosses, and was acquired by AS Beauty in 2021. Announcing the closure news on Instagram, Mally Beauty wrote that due to “tariffs and market shifts”, it has made the “heartfelt decision to begin winding down” the business. As part of this transition, Mally Beauty’s teams will no longer be monitoring or replying to messages in its email inbox. “We are so thankful for the incredible journey we have shared with our Mally Beauty community,” Mally Beauty said in the Instagram post. “Together, we have built a brand that celebrates confidence, joy and beauty that lasts. “You can still shop your favourite Mally Beauty products on QVC.com and Amazon.com while supplies last.” AS Beauty |
GaldermaL'Oréal in deal to increase stake in Galderma to 20%. French cosmetics group L’Oreal is to increase its stake in Swiss dermatology firm Galderma to 20% from about 10%, the Swiss firm said in a statement on Monday.
L’Oreal is buying the stake for an undisclosed sum from a consortium led by Swedish private equity firm EQT, which includes Abu Dhabi Investment Authority and Auba Investment Pte. Ltd. The deal is due to close in the first quarter of 2026. As a result, Galderma is looking into replacing board members representing the consortium by two non-independent board candidates from L’Oreal at the company’s next annual general meeting in 2026, it said. “Galderma continues to deliver impressive growth, strong innovation, and category leadership across its broad, science-based dermatology portfolio,” said Galderma’s CEO Flemming Ørnskov in a press release. “With strengthened commercial execution, continued platform and portfolio expansion, and an increasingly consumer-focused approach to innovation, we are rapidly scaling into a dermatology powerhouse. We are pleased with L’Oréal’s increased investment, which affirms our direction and the meaningful value creation we expect in the years ahead. As we move into 2026, we remain fully focused on our Integrated Dermatology Strategy and on serving our customers, consumers, and patients.” The businesses also plan to explore additional scientific research projects of mutual interest with a shared focus on skincare and skin health, innovation, and long-term growth. Galderma, originally set up as a joint venture between Nestle and L’Oreal before the latter sold its 50% stake in 2014, listed an initial tranche of its stock in March 2024. |
OlaplexOlaplex said to attract takeover offer From Germany’s Henkel. Henkel AG has submitted a takeover offer for Olaplex Holdings Inc, according to people with knowledge of the matter, after the shampoo maker lost over 90% of its value since its initial public offering. The stock rose more than 36%
Olaplex and Dusseldorf, Germany-based Henkel are in talks about a potential deal that could come together within weeks, said the people, asking not to be identified discussing confidential information. Private equity firm Advent is Olaplex’s largest shareholder, with close to 75% ownership, according to data compiled by Bloomberg. No final decision has been made and the talks could end without a deal, the people said. Representatives for Advent and Henkel declined to comment, while a spokesperson for Olaplex didn’t immediately respond to a request for comment. Olaplex was up 25% to $1.69 at 2:45 p.m. in New York trading Wednesday, giving the company a market value of about $1.1 billion. It was worth $16 billion when it went public in 2021 |
ChampionRevlon Announces Fragrance License for Champion Sportswear. Revlon Consumer Products announced a new global fragrance licensing agreement with Authentic Brands Group’s Champion, the American sportswear brand.
This agreement expands Revlon’s fragrance portfolio and sets the stage for the launch of Champion’s first-ever signature fragrance collection, debuting in 2027. Michelle Peluso, CEO of Revlon, said, “Champion’s strong heritage and cultural relevance make it a powerful partner for Revlon. We are excited to welcome Champion into our portfolio of brands at this crucial time for both Champion and Revlon. As we focus on appealing to the next generation, we’re thrilled to bring Champion’s energy into the world of fragrance, another step forward in Revlon’s resurgence.” This news follows a series of bold moves by Revlon to reinvigorate its fragrance business, including the launch of the ABG brand, Juicy Couture’s latest fragrance launch, Just Moi. The upcoming fragrance line will channel Champion’s heritage and modern aesthetic, offering signature scents for men and women that reflect the brand’s ethos: bold, confident, and unapologetically original |
Beauty BayBeauty Bay files notice of intent to appoint administrators as website goes offline. Beauty Bay has filed a notice of intent to appoint administrators.
The online beauty retailer’s website has also gone offline, with a notice informing consumers that “we’ll be back soon”. The websitehe website currently reads: “Beauty Bay is offline right now, we’ll be back shortly.” It follows Beauty Bay appointing advisers from the consultancy firm Interpath. The notice of intent gives a period of ten days during which the administrators can be appointed, and administrators are not in office. The business has been struggling amid the current economic challenges and is now exploring options for sale and investment, according to a Beauty Bay spokesperson. “Like many other companies operating across the retail space, we have been battling hard in the face of strong headwinds over the past 12months,” said the Beauty Bay spokesperson. “Cost inflation and fragile consumer confidence have had a heavy impact on customer spend. “Over recent weeks, we have been working closely with our stakeholders to find a path forward, including exploring options for sale and investment, with the aim of putting in place a stable financial platform upon which we can continue to build. “While we continue to explore the options available to us, we have today taken steps to protect the position of the business as we strive to find a way forward.” |
MAC x SephoraMAC Cosmetics to launch in Sephora’s US stores for first time. The Estée Lauder Companies (ELC) is set to launch MAC Cosmetics into Sephora’s US stores for the first time in early 2026.
The make-up brand will soon be available at selected Sephora locations in the US and at Sephora at Kohl’s stores, as well as on the LVMH-owned retailer’s website in the country. “This strategic collaboration is the result of years of successful partnership with Sephora in global markets, and we are proud to debut MAC Cosmetics with Sephora in the US for the first time in early 2026,” said Tara Simon, President, The Americas, ELC. “We are deeply committed to delivering Sephora US clients a dynamic shopping experience, both in-store and online, while continuing to innovate, inspire creativity and build community.” The launch comes amid ELC’s efforts to revive flagging sales at both MAC Cosmetics and the wider business. Nicola Formichetti was named Global Creative Director of MAC Cosmetics in May and has since overseen a major marketing push for the brand. Singer and rapper Doja Cat was named MAC Cosmetics’ latest Global Ambassador and made headlines with a stunt where she bit into a chocolate replica of one of the brand’s iconic lipsticks at the MTV Video Music Awards (VMAs) red carpet in New York |
WellaCoty sells remaining stake in Wella. Under the terms of the transaction, Coty will receive $750 million in upfront cash, as well as 45% of any proceeds from a future sale or initial public offering of Wella, after KKR’s preferred return has been met.
The sale completes a divestment programme initiated in 2020, aimed at simplifying Coty’s portfolio while realising the full value of its Wella business. Laurent Mercier, CFO at Coty, said: “This transaction marks a pivotal milestone for Coty – both in our transformation and in our long-running deleveraging commitment. “Our strategic partnership with KKR has proven highly value accretive. We have benefited from Wella’s strong growth by progressively monetising our stake, allowing us to strengthen Coty’s financial foundations year-after-year. “Completing this deal exactly inline with our original target to fully divest Wella by the end of CY25 underscores our focus on delivering on our financial commitments and crystallising value from non-core assets, all while sharpening our strategic focus.” Founded in Paris in 1904, Coty is one of the world’s largest beauty companies and operates in over 120 countries, offering both prestige and mass-market products. The news comes after Coty reported a 6% decline in first-quarter revenue last month but remains confident in achieving a return to profitable growth in the second half of FY26 and beyond. It followed the company’s confirmation of plans to integrate its prestige and mass fragrance businesses more closely, aiming to realign the company with its core strengths and drive sustainable growth. The initiative is expected to enhance coordination and operational efficiency across its fragrance portfolio, which accounts for 69% of total sales. In parallel, Coty also initiated a strategic review of its consumer beauty business, including mass-market brands such as CoverGirl, Rimmel, Sally Hansen, and Max Factor, as well as a separate Brazilian portfolio |
Clarins Clarins Launches Mobile App to Expand Customer Relationships. Clarins has launched its mobile app in partnership with long-standing digital partner Merkle, marking a new step forward in its direct-to-consumer acceleration.
This follows a successful pilot launch in the UK. Now the app is available in the United States, Canada, and Australia, with additional markets, including France, to follow shortly. Designed to deepen engagement with its loyal customers, the app introduces a seamless and intuitive shopping experience that supports Clarins’ growing subscription business and enhances its direct-to-consumer strategy – a first in the prestige beauty industry. Clarins CEO, Jonathan Zrihen, said, “Direct relationships with our customers have been at the heart of Clarins’ story for 70 years. With this new mobile app, we are strengthening our ability to support them every day, wherever they are. This innovation demonstrates our commitment to exceptional customer satisfaction, both online and in-store, and our pioneering role within the beauty industry.” The Clarins app extends this relationship thanks to native features that better address customers’ expectations, including: Fast access to the full product offering A simple and intuitive shopping journey Persistent login and 1-click payment Access to all Clarins digital services, including the AI Skin Observer and the generative-AI powered chatbot Exclusive in-app offers Push notifications to stay informed in real time about new products and exclusive offers Built on Clarins’ existing e-commerce infrastructure, the app – available on iOS and Android – combines the flexibility of web technology with the performance of native features such as permanent login, one-click payment, and a product barcode scanner. This hybrid app development approach optimizes investments while delivering a premium user experience. |
L’OrealL’Oreal to Sell 3 Billion Euros of Bonds to Help Finance @kering_official Beauté Buy. L’Oréal has priced a 3-billion-euro triple-tranche bond to help finance part of its acquisition of Kering Beauté.
The offering is composed of three parts: an 850-million-euro two-year floating-rate bond, a 1-billion-euro five-year fixed-rate bond and a 1.15-billion-euro long 10-year fixed-rate bond. The world’s largest beauty company said that net proceeds from the notes’ issuance will be used for general corporate purposes, including to finance a part of the Kering Beauté acquisition. The notes will be admitted to trading on Euronext Paris starting from the deal’s settlement date, which is set for Nov. 19. As previously announced, L’Oréal and Kering on Oct. 19 unveiled a multibillion-euro strategic partnership. The deal includes L’Oréal acquiring The House of Creed and entering into 50-year exclusive licenses to develop and sell fragrances and beauty products for Kering’s brands Bottega Veneta and Balenciaga once the transition closes, likely in the first half of 2026, and for Gucci after its current contract with Coty Inc. ends. That is expected in 2028. The 50/50 joint venture agreement is valued at 4 billion euros, which is payable in cash at the closing. L’Oréal will also pay royalties to Kering for use of its licensed brands. Beyond beauty, the companies said they are joining forces to explore business opportunities at the intersection of luxury, wellness and longevity. In other L’Oreal news- L’Oreal opens first travel beauty boutique in Africa at Abuja Airport. L’Oréal, in partnership with Inter African Market (IAM) and Dune Duty Free, has launched its first standalone L’Oréal travel retail boutique in Africa at Nnamdi Azikiwe International Airport in Abuja. The 50-square-metre space opened on 6 November 2025 and features a cross-category lineup spanning luxury fragrance, makeup and dermocosmetics, including YSL, Lancôme, Giorgio Armani, Prada, Valentino, Mugler, Ralph Lauren, Maison Margiela, La Roche-Posay, Vichy and CeraVe |
CotyCoty subsidiary sues Kering and Gucci over beauty license.
A subsidiary of beauty giant Coty has reportedly taken fashion group Kering to court in the UK over issues linked to the recently-announced loss of its beauty license. HFC Prestige International Operations Switzerland Sàrl apparently filed the lawsuit on 20 October against Gucci America Inc, Guccio Gucci SpA, and Kering SA. Coty hold’s the Gucci beauty and fragrance license that’s due to expire in 2028 but it was announced last month that Kering’s beauty business rights for 50 years are being sold to L’Oréal for €4 billion ($4.7 billion). That business also includes Creed and other beauty licenses such as Bottega Veneta and Balenciaga, while L’Oréal already has the rights to Yves Saint Laurent’s cosmetics and fragrances. Reports said the case focuses on general commercial contracts and arrangements, but no details are available just yet. In announcing the L’Oréal deal, Kering has said that existing contractual obligations with Coty would be honoured and Coty’s CEO had also said that the company will operate the Gucci business “until the last hour of the contract”. In the absence of specific details about the lawsuit, there has been plenty of speculation over exactly what the issues are. But the main speculation has focused on what impact the license termination might have on Coty and whether the license may end early, despite the two companies’ insistence that it won’t. Gucci product sales account for around 8% of Coty’s total 11% of its profits, according to analyst firm Evercore ISI |
LVMHLVMH expands into niche fragrance market by investing in BDK Parfums. LVMH strengthens its niche perfumery project. The LVMH Luxury Ventures Fund has taken a minority stake in BDK Parfums, the brand founded in Paris by David Benedek and one of the independent firms that has gained the most traction in recent years. The financial terms of the deal have not been disclosed.
This is the first time BDK has opened its capital to outside investors, in a context of strong growth in the category. Niche perfumery continues to lead the expansion of the global fragrance market, which has attracted the interest of large luxury and cosmetics groups. BDK has raised its sales by 45% compared to 2024. The objective of LVMH’s entry is to accelerate internationalization, strengthen the distribution network and advance the development of new products, while maintaining the company’s creative independence. “The idea of this minority stake was to be able to develop the brand,“ Benedek, CEO of BDK Parfums, told the U.S. media, stressing that he was looking for a specialized partner beyond immediate profitability. BDK’s catalog is divided into two main lines: Collection Parisienne, inspired by sensations and experiences linked to Paris, and Collection Matières, focused on olfactory raw materials. In addition to these, there are other limited families and launches in partnership with retailers such as Harrods. The brand now has 23 genderless perfumes, five hair fragrances, five candles and home care products. In December, it will launch shower gels and body lotions associated with best-selling fragrances. In 2024, the company opened its first own flagship store on Rue Saint-Honoré in Paris, and plans to open new stores from 2026. The first confirmed project is an opening in Dubai, with which it wants to consolidate its presence in the Middle East. |
Sephora X Olive YoungSephora announces strategic partnership with Korea’s CJ Olive Young. Global beauty business Sephora has announced a strategic, omni-channel partnership with Korean beauty and health retailer CJ Olive Young to bring a wide range of K Beauty products to its global customers.
The partnership will debut this autumn with omni-channel partnerships set for the US, Canada, Hong Kong SAR, and Southeast Asia (Singapore, Malaysia, Thailand), Sephora announced in a press release on Tuesday. In 2027, the business will bring the tie-up to the Middle East, the UK, and Australia. “Korean beauty is one of the most innovative, fastest growing, and desirable categories in beauty right now,” said Sephora’s global chief merchandising officer Priya Venkatesh in a press release. “Sephora was the first major retailer to debut K Beauty brands to North American consumers in 2010, and our portfolio has grown into a global business. We are thrilled to partner with leading Korean beauty retailer Olive Young, bringing their expertly curated assortment of Korean beauty brands to our beauty fans globally. Their differentiated assortment, coupled with Sephora’s unique point of view on the beauty shopping experience, will bring an unrivalled and inspiring offer for all beauty lovers who are keen to explore the most sought-after Korean beauty products.” Sephora shoppers will be able to browse a dedicated zone curated by CJ Olive Young comprising popular Korean health and beauty brands. The business’ beauty advisor will also offer guidance and assistance to customers to help them find their desired products. “We are pleased to enter this partnership with Sephora as we continue to advance our global expansion strategy,” said CJ Olive Young’s chief strategy officer Youngah Lee. “As global interest in K-beauty continues to accelerate, we see this collaboration as a meaningful opportunity to work together in expanding the reach of Korean brands in key international markets.” |
CotyCoty reviews Covergirl , considers sale or spinoff. Coty has launched a strategic review of its Consumer Beauty business to “compete more effectively”, which involves a C-suite shake-up and a stronger focus on colour cosmetics.
The beauty giant’s review will concentrate on its US$1.2bn revenue mass colour cosmetics business in a bid to “drive renewed momentum”, which comprises brands CoverGirl, Rimmel London, Sally Hansen and Max Factor. Plus, a strong focus on its Brazil business, which comprises local Brazilian brands that generate close to $400m revenue. Gordon von Bretten, Coty board member and former Chief Transformation Officer, will lead this strategy as President of Consumer Beauty, reporting to Coty CEO Sue Nabi. He will have “end-to-end responsibility for delivering the full potential of our strong brands in the mass cosmetics, mass skin and personal care businesses”, added Nabi. Stefano Curti, Chief Brands Officer of Consumer Beauty, and Alexis Vaganay, Chief Commercial Officer of Consumer Beauty, will step down from their roles as part of this restructure |
Interparfums Interparfums inks deal with Authentic Brands for David Beckham and Nautica fragrance licenses. French group Interparfums, which produces among others the Lacoste, Jimmy Choo and Moncler perfumes, announced on Thursday that its US subsidiary has struck two new license deals, for the David Beckham and Nautica fragrances. Both brands belong to the portfolio of US giant Authentic Brands Group (ABG). The deal could lead to interesting new opportunities for the French fragrance producer.
“Interparfums announced that it has entered into an exclusive, 20-year worldwide license agreement with David Beckham for the creation, development, production, and distribution of fragrances under the David Beckham brand,” Interparfums stated in a press release published on Wednesday in the US. “I’m delighted to announce my partnership with Interparfums to evolve my fragrances for the long-term,” said Beckham, cited in the press release. “Together with their world-leading team, we will create products that are distinctive and timeless,” he added. For this new licence, Interparfums is forecasting a total annual revenue in excess of $50 million in the first few years |
Pat McGrath LabsPat McGrath Labs is up for sale. Pat McGrath Labs is undergoing a restructuring and recapitalisation process, according to multiple reports.
As part of the process, the company is reviewing its assets, with some — including its trademark and logo — potentially set to be sold through a formal sale process. Bids are due by January 26, with an auction scheduled for the following day. The process is being managed by U.S.-based financial services firm Hilco Global. Founded by British makeup artist Dame Pat McGrath, the brand celebrated its 10th anniversary in October. Pat McGrath Labs rose rapidly following its launch and reached unicorn status in 2018 after securing an investment from Eurazeo that valued the company at more than $1 billion. In recent years, however, the brand has faced operational challenges, alongside executive turnover and layoffs, and its valuation is now widely reported to be a fraction of its former peak. The development comes just one year after McGrath was named creative director of Louis Vuitton’s debut makeup line, La Beauté, which launched this summer Update- Pat McGrath Labs cancels auction and files for Chapter 11 bankruptcy Update- US-based financial firm GDA Luma has announced a $30 million investment in Pat McGrath Labs, weeks after the beauty brand filed for bankruptcy, marking the start of what the companies describe as a new phase of stewardship and long-term growth. |
UnileverUnilever sells Kate Somerville as new owner promises ‘bright future’ for beauty brand. Unilever has sold premium skin care brand Kate Somerville after a decade of ownership.
Known for products such as the Goat Milk Moisturising Cleanser and ExfoliKate, the brand has found a new home with independent brand owner Rare Beauty Brands. Kate Somerville has been part of Unilever’s Prestige beauty portfolio since 2015, but the beauty and personal care giant has been looking to offload the brand since last year. “Over the past 18 months, the team has worked diligently to accelerate Kate Somerville’s turnaround,” said Mary Carmen Gasco-Buisson, CEO of Unilever Prestige. “As the brand enters a new chapter, we believe that its continued growth and success will be best supported by new ownership better aligned to its evolving needs. “We are confident that under Chris Hobson’s leadership and the Rare Beauty Brands team, Kate Somerville has a bright future ahead.” The terms of the deal with Rare Beauty Brands – which owns spot patch-focused skin care brands Patchology and Dot Dot Dash – have not been disclosed. Chris Hobson, President and CEO of Rare Beauty Brands, said the acquisition is a “significant milestone” for the business. “We have long admired the brand’s innovative spirit and its commitment to results-driven skin care, which aligns perfectly with our mission to create products that delight, communities that empower, and brands that inspire,”he said. “We believe that Rare Beauty Brands is the ideal home for the Kate Somerville brand, and we are excited to welcome its dedicated team into our family. “Together, we see a bright future ahead, with new opportunities to grow and reach even more consumers who share our passion for highly efficacious, luxurious skin care.” |
Market ResearchLuxury perfume market expected to reach $45.8 Billion by 2033. The global luxury perfume market is expected to reach a value of $45.8 billion by 2033 at a compound annual growth rate of 7.3%, according to a report from Dimension Market Research.
The report defines luxury perfume as “premium, high-grade fragrances crafted using rare ingredients and expert craftsmanship.” Sales of luxury perfumes are continuing to succeed around the globe, according to the report. Key brands mentioned in the report include Chanel, Dior, Gucci, Tom Ford, and others. Within the luxury perfume market, consumers are placing more emphasis on the importance of sustainable ingredients in fine fragrances. As a result, brands have looked to biodegradable packaging and ethically sourced ingredients to meet these consumer demands. Technological innovation has also allowed brands to further meet consumer preferences, such as artificial intelligence and virtual scent-testing tools. Further, key challenges to the luxury perfume market include high ingredient costs and changing regulatory landscapes. “Their exclusivity and good quality have come to symbolize status and personal identity for consumers worldwide,” an analyst with Dimension Market Research said. “Industry innovation and diversification have resulted in niche and custom fragrance offerings to satisfy virtually every preference or taste among consumers.” |