WORLD NEWS
ELC mulls acquisition of fashion
label Tom Ford for $3bn US The Estée Lauder Companies (ELC) is
Laurent Marteau PEOPLE
MANUFACTURERS Issey Miyake, the Japanese fashion and fragrance giant, has died aged 84.
Laurent Marteau has been appointed Group Managing Director of L’Occitane Group.
Revlon has named Matt Kvarda, Managing Director at professional services firm Alvarez and Marsal, as its new interim CFO.
Maggie Ciafardini has joined the advisory board for Evio Beauty.
Lady Gaga’s prestige beauty brand Haus Labs has appointed Stephen SantaBarbara as its new Chief Operating Officer.
Cellular Goods has named Bruna Nikolla CFO.
Dermalogica has appointed Angela Taylor as its new Education Director for the UK and Ireland.
RETAIL Selfridges’ boss Anne Pitcher will leave the luxury retailer at the end of the year following the completion of the sale to Central Group and Signa Holding.
Mary Dillon, former CEO of Ulta Beauty, is the new CEO of athletic retailer Foot Locker.
OTHERS Galderma has named Kate Gibson as its new Regional Business Manager for London.
cosmeticsbusiness.com
reportedly in talks to acquire US luxury fashion brand Tom Ford, in a potential US$3bn deal. The acquisition would mark ELC’s first foray into the world of fashion, after primarily focusing on pure beauty throughout its existence.
An unnamed source informed The Wall Street Journal about discussions for the sale, which come
after the fashion brand was placed on the market earlier this year. Investment banking company Goldman Sachs was brought on at the time to handle the sale of the company, Bloomberg reported in July.
The owner of MAC and Clinique also reported sales of $4.25bn for its third quarter 2022 results in May, putting it in a strong position to acquire the business.
Juicy Couture’s owner, Authentic Brands, snaps up Ted Baker
UK The owner of Juicy Couture, Reebok and Forever 21 is to buy Ted Baker in a deal worth £211m. Last month, Authentic Brands Group (ABG) reached an agreement with the British lifestyle brand for a 110p-per- share deal, well below the 160p-per-share that ABG was contemplating in May. Jamie Salter, founder, Chairman and CEO of ABG, said: “Ted Baker is a highly
regarded, uniquely British brand whose strong fashion credibility resonates with consumers around the world. We are excited to build on the brand’s global foundation through a business model focused on licensing, wholesale, retail, digital and strategic marketing partnerships. Under ABG’s ownership... Ted Baker is poised for continued growth and success.”
NEW BREAKTHROUGH IN DESTROYING ‘FOREVER CHEMICALS’ DISCOVERED
US A potential way to properly break down so-called ‘forever chemicals’ has been discovered for the first time, according to new research from Northwestern University. Known as perfluoroalkyl and polyfluoroalkyl substances (PFAS), they are a group of around 6,000 chemicals that do not naturally exist in the environment. PFAS are found in a wide variety of everyday items including cosmetics, shampoo and cleaning products. They have been dubbed ‘forever chemicals’ as the chemical compounds are tightly bound together, meaning they do not naturally degrade. The breakthrough study has found that a mixture of sodium hydroxide, water and an organic solvent could be the key to destroying the dangerous chemicals. When heated, the formula is able to degrade the tightly packed fluoride ions found within PFAS by around 78-100% within 24 hours. Sodium hydroxide is a relatively cheap chemical which is often used in the creation of soaps.
This was an increase of 10% from the $3.86bn it reported a year earlier, driven by double-digit growth in the US and Europe and strong e-commerce sales.
ELC currently owns the licences for Tom Ford’s cosmetics and fragrance ranges.
The two businesses originally collaborated together to create Tom Ford’s first signature scent in 2006 with Black Orchid.
S’Young Group extends investment in Pier Augé
CHINA/FRANCE S’Young Group, the Chinese beauty brand owner and distributor, has completed its investment in French luxury skin care brand Pier Augé, helping grow its presence in China. S’Young remains a minority investor in Pier Augé (32.5%) but has simultaneously acquired Pier Augé’s Chinese business.
The partnership,
initiated in 2020, has seen Pier Augé expand its footprint in China by launching its official flagship store on e-commerce giant Tmall Global in 2021, developing products in line with Chinese beauty trends and expanding its social media capabilities. The
acquisition of the brand’s Chinese business further enhances omnichannel capabilities to reach more consumers both in China and worldwide. Charles Dupont,
General Manager of Pier Augé, said it was the brand owner’s desire to make Pier Augé “a global player”.
September 2022 9
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76
