NEWS WORLD
Johnson & Johnson to stop global
sales of talc-based baby powder WORLD Johnson & Johnson (J&J) will stop all global sales of its talc-based baby powder in 2023, following years of allegations that the product contained harmful substances. The personal care goliath will transition to an all cornstarch-based baby powder portfolio instead, following an assessment of its worldwide product range. The company said its new cornstarch-based baby powder is already sold in
countries around the world, and added this was the best decision for its long term growth.
“This transition will help simplify our product offerings, deliver sustainable innovation, and meet the needs of our consumers, customers and evolving global trends,” a
spokesperson for J&J said. J&J has been embroiled in controversy over allegations that its cosmetic talc
contained asbestos and caused ovarian cancer and mesothelioma. Two years ago the health care giant halted all sales of the baby powder in North America over the health- related claims, but continued to sell the product internationally. However, in February 2022, J&J was faced with an attempt to force shareholders to vote to withdraw its talc from store shelves globally.
Shiseido’s China-based fund invests in local collagen expert Trautec
Puig acquires majority stake in Loto del Sur
SPAIN Puig has acquired a majority stake in Colombian natural cosmetics brand Loto del Sur. With its range of natural products made from local Latin American flora, the brand is said to be a strong fit with the Paco Rabanne owner’s sustainability commitments.
The deal will see Loto del Sur enter the Spanish and US markets with stores in Madrid and Miami, respectively, while it will also expand its Latin American presence into countries including Mexico and Chile. It builds on the companies’ existing partnership, with Puig initially acquiring a minority stake in Loto del Sur back in 2019, in a bid to grow Loto del Sur’s presence globally as well as bolster Puig’s own turnover.
8 September 2022
JAPAN/CHINA The Shiseido Beauty Innovations Fund has announced an investment of RMB100m in Jiangsu Trautec Medical Technology, a China-based supplier of recombinant collagen 2- based biomaterials. The fund was
co-established by the Japanese cosmetics group’s China subsidiary, Shiseido China Co Ltd, and Boyu Capital; this investment marks its first in Trautec, in which it is the lead investor.
Shiseido will additionally form a strategic partnership with Trautec to collaborate in areas such as R&D, raw material supply and sales channels to accelerate breakthroughs in functional skin care.
Established in 2015, Trautec operates a
production plant located in Changzhou, Jiangsu Province. It holds multiple intellectual property rights in the development of recombinant collagen.
BOOHOO EXPANDS COSMETICS EMPIRE WITH REVOLUTION SHARE BUY
UK Boohoo has expanded its growing beauty empire after making a “strategic investment” into UK beauty retailer Revolution Beauty. The fast-fashion e-tailer more than doubled its shareholding in the company to 7.1%, after originally owning less than 3% of shares. Boohoo said the investment builds on its existing partnership with the beauty business. Revolution Beauty sells its products through several of Boohoo’s D2C brand websites and its online digital department store. “The investment reflects Boohoo’s belief in the growth
potential of Revolution Beauty and it intends to be a supportive stakeholder and long term partner,” Boohoo said in a statement. Boohoo’s shareholder increase comes after stocks in Revolution Beauty plummeted by 55% in early August.
IN BRIEF ITK
Brooklyn and Bailey McKnight have launched a skin care essentials brand called itk via Walmart. Co-created by the YouTube stars and beauty incubator Maesa, itk targets Gen Zers. Described as cruelty-free, efficacious and straightforward, the line is launching with 15 skus for a wide range of skins. The McKnight sisters are best known for their popular vlogs, which have garnered more than 1.5 billion views.
KAO CORPORATION Kao Corporation is aiming to grow its market share in Europe for methyl dihydrojasmonate (MDJ) by expanding the production facilities at Kao Chemicals Europe’s Olesa Plant in Spain. MDJ is a synthetic fragrance material that provides a refined, fresh, floral, jasmine- like fragrance. The new facility will be completed by December 2022 and is scheduled to begin production in early 2023.
SHIKŌ BEAUTY COLLECTIVE Japanese company Mitsui & Co is betting on US consumers’ appetite for J-beauty brands with the launch of a new D2C platform. Described as part of an initiative to accelerate Japan-inspired beauty in the US, Mitsui’s New York-based Beauty Personal Care Group is presenting a curation of J-beauty brands via its new Shikō Beauty Collective.
OLAY
Olay has announced Quinta Brunson as its new ambassador. An actress, producer, writer and comedian, Brunson is best known for Abbott Elementary, ABC’s Emmy-nominated mockumentary created by and starring Brunson. She appears in the new campaign for Olay’s Retinol 24 + Peptide Night collection.
cosmeticsbusiness.com
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