NEWS WORLD
Antitrust agencies investigate
Firmenich, Givaudan, IFF & Symrise WORLD Four of the world’s biggest fragrance companies are under investigation by antitrust authorities in Switzerland, Europe, the UK and the US. The quartet of Switzerland’s Firmenich and Givaudan, US-headquartered International Flavors & Fragrances (IFF) and Germany’s Symrise are suspected of collusion. According to the Swiss Competition Commission (COMCO), there are
indications that several undertakings active in the production of fragrances have violated cartel law. These, it said, may have coordinated the four companies’ pricing policy, prohibited their competitors from supplying certain customers and limited the production of certain fragrances.
Dawn raids were conducted at various locations on 7 March, with
Beach House Group launches venture arm for emerging brands
US Beauty incubator Beach House Group is launching a venture arm to make minority
investments in emerging, founder-led brands. Beach House Ventures (BHV) will offer all the financial benefits of a private equity firm, said the brand builder, with the addition of a shared service platform, brand- building expertise and global retail relationships. It will be “a source for invaluable navigation and comprehensive support at every possible level,” said the company, from scaling a brand to eventual exit. BHV plans to invest between US$2m and $10m in deals over the next few years.
Beach House Group was founded in 2018 by entrepreneurs Shaun Neff and PJ Brice and is set to surpass $250m in annual revenue from its homemade brands. The incubator is behind brands Moon Oral Beauty with model Kendall Jenner and Florence By Mills with actress Millie Bobby Brown.
8 April 2023
COMCO working in consultation with the European Commission, the US Department of Justice Antitrust Division and the UK Competition and Markets Authority (CMA).
Firmenich and Symrise said in separate press statements that they were cooperating fully with the authorities, while
representatives from IFF and Givaudan confirmed likewise to Cosmetics Business.
Vanessa Hudgens teams up with Amazon to relaunch skin care brand
US Actress Vanessa Hudgens has partnered with Amazon to relaunch her skin care brand, Know Beauty. The High School Musical star has updated the brand’s ethos – natural, targeted solutions for oily and acne-prone skin – and stripped back the product offering to one item. Glacial Bay Clay Mask, available via Amazon, is a colloidal clay-infused product that claims to draw out impurities, tighten pores and even out tone. More
IN BRIEF AZELIS
Azelis has opened a new personal care laboratory in Midrand, South Africa. The lab will have a strong focus on the local needs of Azelis’ African customers and their consumers, the company said. Together with the company’s existing laboratory in Cairo, Egypt, the new lab is expected to reinforce Azelis’ personal care business’ presence in the Middle East and Africa (MEA).
products focused on “simple yet effective solutions to real skin problems” are expected to follow.
This change in direction comes two years after Know Beauty’s initial debut into beauty.
HENKEL EXPANDS ASIA FOOTHOLD WITH J-BEAUTY INNOVATION HUB
JAPAN Henkel, the German consumer goods company, has opened a new J-beauty innovation hub in Tokyo, Japan. The space includes a research and development lab and a product evaluation studio, aimed at increasing its capabilities for product development and ingredient formulation. Henkel said it will also allow the company to develop Asian and Western beauty fusion concepts, trends and solutions for consumers in Japan and Asia. “Asia is a highly dynamic region generating many trends and innovations, especially in the consumer goods market, which we are expanding and leveraging globally,” said Carsten Knobel, Henkel CEO. “With its inspiring and collaborative environment, our new innovation hub will help to accelerate impactful innovation and further strengthen our hair professional business in this strategically important region.”
JOHN LEWIS John Lewis is considering selling a stake in its business after 73 years operating as a staff-owned partnership. As reported in The Sunday Times, the UK retailer is considering selling only a minority stake and would continue to prioritise majority employee ownership. Any outside investor would have to share the employee-centric values of the group, which runs John Lewis department stores and grocer Waitrose, the report said.
WELEDA Weleda has signed an open letter to the EU Commission calling for the upcoming EU Soil Health Law to be stronger and more ambitious. The law was proposed in 2021 and is expected to be implemented in June this year. But the skin care and wellbeing brand has stated that the policy needs to be robust, as it considers healthy soil to be vital for the planet due to it being a major carbon store.
LUSH
Lush is cutting the money it spends with Google as part of its big tech rebellion. The cosmetics retailer is slashing the millions it spends on Google Ads to protect its bath bomb trademark, cutting its platform investment by a third. It plans to redirect budgets to smaller tech organisations and open-source solutions.
cosmeticsbusiness.com
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