The past few months have been marked by significant activity in the beauty industry, with notable acquisitions and investments. Windsong Global acquired JVN hair for $1.25 million, while Dr Reddy’s Laboratories secured Menolabs for $3 million. Additionally, AA Investments purchased Rose Inc for $2.5 million, THG bought Biossance for $20 million, and Naomi Watts reclaimed her menopause brand, Stripes, for $500,000.
ELC’s venture capital arm has acquired a stake in Melt Season, a Chinese luxury fragrance brand. Other Chinese fragrance brands making waves are Documents and To Summer, showcasing Chinese identity and enlisting renowned perfumers to craft their scents. The Chinese fragrance market is expected to gain traction internationally, with Documents recently opening a standalone store in Shanghai and launching on Net A Porter.
Uoma Beauty has encountered challenges, with MacArthur Beauty, a venture capitalist firm known for its property investments, reportedly orchestrating a hostile takeover of the brand. Founder Sharon Chuter was allegedly unaware of the acquisition. Uoma faced backlash from customers for unfulfilled orders during the summer, and its social media accounts were inactive. Given Uoma’s focus on diversity, the takeover raises questions about how MacArthur will uphold the brand’s core values.
Exciting news for Sephora enthusiasts as a new store is slated to open at the Trafford Centre in Manchester next year.
Unilever has been in the spotlight for various reasons, including the divestment of its subsidiary, Elida beauty, to venture capitalists Yellow Wood. The company has also downsized its workforce, with 169 employees laid off from two manufacturing plants in NYC. On the investment front, Unilever’s venture capital arm has backed Australian hair care brand Straand with a 4 million Australian dollar seed round, while acquiring hair brand K18. Despite its overall strong performance, the company’s staff reductions have sparked concerns.
Estee Lauder Companies is facing a class action lawsuit in the US Court for the Southern District of New York. The lawsuit pertains to alleged false and misleading statements made by Estee Lauder, which impacted investors who purchased the company’s stock between August 18th, 2022, and May 2nd, 2023. This legal action follows a substantial drop in share value and a revised fiscal year outlook, raising questions about Estee Lauder’s representations to investors.
Despite its largest profit decline in 16 years, Shiseido has acquired skin care brand Dr Dennis Gross. One factor behind this move is the lower-than-anticipated interest in Japanese brands among Chinese consumers, partly attributed to geopolitical tensions following Japan’s release of treated radioactive water into the Pacific. However, Shiseido is pivoting towards the Indian market, with the opening of NARS and Shiseido stores. Additionally, the company has launched Shiseido Long Term Investments For The Future, aiming to identify and invest in emerging brands in the early stages.
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