WORLD NEWS
Glow Recipe secures investment
Marissa Pagnani McGowan
PEOPLE
MANUFACTURERS L’Oréal USA has named Marissa Pagnani McGowan Chief Sustainability Officer of its North American division. She will lead the company’s ten-year sustainability transformation plan, which includes meeting its targets for 2030 on climate, water, biodiversity and natural resources.
FRAGRANCE Dior, whose fragrance licence is owned by French cosmetics giant LVMH, has appointed fragrance authority Francis Kurkdjian as Perfume Creation Director.
INGREDIENTS Harold A Bryant has joined the senior leadership team of Hallstar Beauty as Global Vice President of R&D.
Chemyunion has appointed Marilyn Villanueva as Senior Application Lab Chemist – West Coast region, where its new Chemyunion Creation Center is located. Erik Gutmann, meanwhile, is joining Chemyunion as a Technical Sales Manager for the West Coast and is based in the Los Angeles area.
Sebastien Massard, Global Marketing Manager for Vantage Personal Care, has been promoted to Global Director of Strategic Marketing for Personal Care.
RETAIL J.C. Penney has appointed Harvey Nichols’ former Beauty Director, Jo Osborne, to helm its beauty division.
cosmeticsbusiness.com
deal, plans global expansion US Glow Recipe, the Korean beauty-inspired brand, has announced its first-ever investment deal with private equity firm North Castle Partners.
Founded by former L’Oréal employees Sarah Lee and Christine Chang with US$50,000 of their own money in 2014, the duo previously turned down $425,000 on reality show Shark Tank.
Co-founder of Glow
Recipe, Lee, said: “This investment is a key milestone for Glow Recipe, and will allow us to accelerate key growth drivers such as product innovation, attracting world-class talent, international expansion, and doubling down on our community-driven approach to brand building.”
The skin care brand is particularly
Is the owner of Harrods & Printemps buying rival Selfridges?
QATAR/UK The owner of Harrods is reportedly the frontrunner to buy Selfridges from the billionaire Weston family. The Qatar Investment Authority (QIA), the country’s sovereign wealth fund, which currently owns Harrods and French retailer Printemps, is said to be mulling the £4bn takeover. The Weston family, who also own Primark and Fortnum & Mason, first put Selfridges – founded in 1908 by Harry Selfridge – up for sale in July, but City sources told the Mail on Sunday that
the Gulf nation is in the lead to buy the luxury department store chain.
Other firms reportedly in the running include Hudson’s Bay Company and Hong Kong-led Lane Crawford. The deal with Harrods would strengthen the retail portfolio of the QIA, which bought Harrods in 2010 for £1.5bn and French luxury retailer Printemps in 2013 for £1.47bn.
The Qataris are also the major shareholder of Sainsbury’s, Britain’s second largest supermarket chain.
IS MEGHAN MARKLE EYEING HER OWN BEAUTY BUSINESS?
US Since stepping down as a senior member of the British royal family, Meghan Markle’s career has reached a zenith. The Duke and Duchess of Sussex have become hot commodities over the pond. Following their move to the US, the duo signed a blockbuster deal with Netflix, while, Markle, a former Suits actress, became a New York Times best-selling author with her children’s book The Bench. However, now rumours have begun to circulate that the
40-year-old could be on the verge of launching her own cosmetics line after making a number of visits to the estate of Bill Guthy, the beauty marketing executive of Guthy- Renker. The direct-to-consumer marketing firm specialises in celebrity-endorsed beauty products, steering the beauty brands of Jennifer Lopez and Cindy Crawford.
popular among Gen Z and millennials due its social media strategy.
Rich Gersten, a North Castle Industry Advisor, added: “The growth momentum of the business and the strong potential for the brand to expand its product assortment and global distribution position Glow Recipe favourably for long-term success.”
Emma Raducanu joins house of Dior for beauty & fashion
UK Emma Raducanu, the youngest tennis player to win a Grand Slam singles title since 2004, has joined the house of Dior as its ambassador for beauty and fashion. The new deal underlines the teenager’s stardom status, following her shock win at the US Open in straight sets earlier this year. Now rated 23 in the world by the Women’s Tennis Association, Raducanu will represent Dior for its skin care and make-up ranges, as well as marketing the business’ womenswear collections. The tennis star also represents Tiffany.
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