WORLD NEWS
IN BRIEF TROPIC
Direct selling skin care brand Tropic is making the UK a greener place by funding the planting of 7,000 trees in Hampshire in partnership with non-profit Forestry England. By planting the new forest in the Queen Elizabeth Country Park in Hampshire’s South Downs, Tropic hopes to provide more habitats for local wildlife to flourish, as well as fighting the ongoing climate crisis and creating more green spaces for the British public to enjoy.
GLOSSIER Gen Z beauty favourite Glossier has pledged US$500,000 towards supporting black-owned businesses in the US this year. The announcement follows the brand’s 2020 donation of $500,000 towards organisations fighting racial injustice and its first round of grants (also $500,000 in total), which helped support 16 companies last year.
L’OCCITANE L’Occitane is doing its part to help rid the world’s oceans of plastic waste by supporting marine conservation charity Surfers Against Sewage with its sustainable refill scheme. From 27-30 May, the French beauty brand donated £5 for every eco-refill sold to Surfers Against Sewage, funding the UK-based charity’s projects such as its Million Mile Beach Clean.
GILLETTE VENUS Gillette Venus is empowering females to take back the language for their intimate areas by encouraging women to speak freely about grooming and the pubic region. Around 47% of women said they have been made to feel uncomfortable using terms such as ‘vagina’ or ‘pubic’ in public. To combat this embarrassment, the brand dubbed 12 May ‘Vulva Appreciation Day’.
cosmeticsbusiness.com
Return to retail triggers spike
in prestige make-up sales UK The UK’s prestige beauty market has seen exponential growth since shoppers returned to retail. Data from NPD Group reported a 229% increase in luxury make-up sales in the first two weeks after customers were permitted to return to retailers and outdoor dining on 12 April. From 11-24 April, sales of tinted moisturisers were up 267%, while foundations saw an uptick of 253% and bronzer sales soared by more than 170%.
The lip sector increased 190% during the two-week period, with lip liners seeing the greatest increase of 434%, ahead of lip gloss sales at 185%, compared with the same period in 2020. Eye make-up, meanwhile, is still an important element of make-up while face coverings remain a staple. Mascara’s popularity increased 287% compared with 2020, while eyeliner and eyelashes sales increased 283% and 307%, respectively.
Gwyneth Paltrow’s Goop threatened with UK shutdown over accounts
US/UK Goop, the brand of Hollywood actress Gwyneth Paltrow, could be forced to shut down its UK operations after failing to file its accounts.
Goop was originally set up in Britain and was incorporated at Companies House, the UK’s official company register, in 2011. In 2014, Paltrow upheaved her brand’s HQ to the US, where it became a global
success and opened its first retail destinations across the continent and in the UK. However, Paltrow has found herself in hot water with Companies House for not keeping on top of her finances. In April, she was issued with a formal warning that her company could cease to operate and be stripped of its assets if she did not balance the books.
KLARNA RESPONDS TO BUY NOW, PAY LATER CRITICS WITH TONGUE-IN-CHEEK ARTWORK
SWEDEN/UK Buy now, pay later titan Klarna has hit back at critics via a new campaign. Pay later solutions have come under fire for impacting credit scores, something Klarna vehemently denies. To drive the message home, it has teamed up with Spanish artist Ignasi Monreal on seven designs representing a misconception of Klarna. Murals have been dotted across London, Manchester, Liverpool and Birmingham.
Emma Fishwick, Account Manager at NPD UK Beauty, said: “We are very pleased to see that consumers have not lost their love for wearing make-up, and this has been demonstrated by their eagerness to embrace a more made-up look as they return to physical stores and start going out to socialise again in England, with Scotland and Wales following soon afterwards.”
The Hut Group raises $1bn in capital & buys Bentley Labs
UK Matthew Moulding’s The Hut Group (THG) is raising US$1bn in fresh capital to accelerate the business’ ‘ambitious’ growth plans.
The largest sum will consist of around $730m, and comes from SB Management (SBM), a subsidiary of tech
investor SoftBank Group, with the remainder coming from other stakeholders.
SBM is also expected to invest $1.6bn in THG Ingenuity, the company’s direct-to-consumer tech platform, which implies an enterprise value of $6.3bn for a 19.9% equity interest.
THG has also
announced a takeover of Bentley Laboratories, a prestige beauty developer and manufacturer, for $255m, subject to regulatory approval. This
acquisition is expected to boost THG’s fiscal year 2020 revenues by $15m.
June 2021 9
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