WORLD NEWS
Coty completes sale of Professional Pierre Wargnye PEOPLE
MANUFACTURERS InnovaDerma, the maker of Skinny Tan and Nuthing Hair Removal, has named Blake Hughes as its new CEO.
L’Oréal Group has appointed Thierry Cheval as Managing Director of L’Oréal UK and Ireland.
FRAGRANCE Former IFF perfumer Pierre Wargnye has passed away in France aged 73. Wargnye joined the company in 1980 and went on to create world-renowned scents.
Eurofragance has consolidated its India growth plans with the appointment of Mayur Kapse as General Manager for the region.
INGREDIENTS BASF has appointed Dr Marko Grozdanovic as head of its Personal Care Europe regional business unit and Managing Director of Personal Care and Nutrition.
RETAIL Fortnum & Mason has appointed Tom Athron to take over from Ewan Venters as CEO.
Selfridges has named Andrew Keith as its new Managing Director.
Cult Beauty has appointed Net-a-Porter co-founder Carmen Busquets as its non-executive chairperson to the board.
OTHERS Kristi Hubbard, President of Younique, has been promoted to CEO.
cosmeticsbusiness.com
and Retail Hair business to KKR UK Coty has announced the completion of its sale of its Professional and Retail Hair business to KKR.
As part of the deal, the private equity firm will acquire a 60% stake in Coty brands Wella, Clairol, OPI and ghd. Together the businesses are valued at
US$4.3bn, giving Coty a cash injection of $2.5bn. Coty said the deal will give it the means to strengthen its capital structure and will use around $2bn of the funds to pay down its Term Loans A and B on a pro rata basis. Last month, Coty reported a
Founders of Polish beauty brand Bielenda Kosmetyki sell shares
POLAND The founders of one of Poland’s fastest growing cosmetics brands Bielenda Kosmetyki have sold a portion of their existing shares to private equity firm Innova Capital. The move will help the brand finance its acquisition of Soraya and Dermika from Norway’s Orkla Group. Over the last three years, the company has recorded average annual growth of
more than 20% for its branded products: Bielenda, a cosmetics brand, and Bielenda Professional, for salons, spas and hotels. Bielenda Kosmetyki’s combined portfolio is expected to generate annual revenues in excess of PLN200m. Marel Bielenda, CEO, said Bielenda was “convinced” that the move would accelerate the growth of the value of the company.
HOURGLASS COSMETICS CONDEMNED BY FANS FOR ‘LACK OF INCLUSIVITY’
US Hourglass Cosmetics has found itself in hot water with beauty influencers after the relaunch of its coveted Illume Sheer Color Trio did not land as hoped with customers. Following the relaunch, consumers were quick to pull up
the Unilever-owned brand on its lack of diversity, for using just three colours in the palette that target lighter skin tones. Christine Mielke, MUA and founder of beauty site
Temptalia, was first to speak out against the brand, adding Hourglass to her ‘do not review’ list. Customers also commented on the brand’s Instagram
posts to express their disappointment at the limited shades. “All this time to reformulate and yet you still can’t release an inclusive color (sic) selection for POC? Disappointing,” one consumer wrote. Another said they would never use Hourglass’ products
again: “Please stop ignoring comments and dms that are VERY valid calling you out on this shade range. I’m so incredibly disappointed. I’ve been a long time fan of your brand but I can’t, in good faith, support you if you’re not going to become inclusive.” Hourglass has not spoken out addressing the issue and did not respond to Cosmetics Business’ request for comment.
surprise profit in Q1 with demand for beauty and fragrances up following the lockdown lull. The CoverGirl owner’s CEO, Sue Y Nabi, said the results were a “testament that a stronger, more focused and more flexible Coty” was emerging during the pandemic.
Jeffree Star sued by Anna Nicole Smith’s estate over lipsticks
US Beauty influencer and brand owner Jeffree Star is being sued by the estate of the late American model Anna Nicole Smith. Star’s brand, Jeffree Star Cosmetics, has been accused of violating intellectual property rights by using the former Playboy model’s ‘name, image, and likeness to advertise its commercial products’, according to court documents, reported entertainment website The Blast. These include the Anna Nicole orange- red shade of lipstick. Smith’s estate claims that Star did not receive authorisation to use the celebrity’s name, or offer any compensation for the commercial usage. The claimant is requesting Jeffree Star Cosmetics to hand over all profits from the sale of the products.
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