business
26 Jul 2024
--- Unilever reports an increase in 4.1% sales, led by a 2.6% rise in volumes and a 1.6% increase in pricing in the first half of the year. Although sales growth missed expectations, shares jumped 6%. The company’s power...
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25 Jul 2024
--- LVMH recorded revenue of €41.7 billion (US$45.2 billion) with a 14% slump in net profit in the first half of 2024. Its second quarter saw revenue growth of 1% and a 14% sales drop in Asia, mainly including China and...
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25 Jul 2024
--- L’Occitane International is going private after 91.97% of its disinterested shareholders tender their shares, reaching over the required amount for a “squeeze-out.” The move will allow L’Occitane...
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24 Jul 2024
--- The blossoming fragrance market continues to lift earnings for key companies. Givaudan sees earnings rise above expectations in the first half of the year, while Inter Parfums achieves record net sales in its latest...
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23 Jul 2024
--- Dermatologist-powered and personalized skin care brand Curology is headed for CVS stores across the US while two brothers introduce their made-in-Italy hair care line Aeterna to Miami’s Miracle Mile. Curology’s...
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23 Jul 2024
--- The Korean Wave (Hallyu) and K-beauty help South Korea’s cosmetics exports hit an all-time high of US$4.82 billion in the first half of the year, marking an 18.1% increase compared to the same period last year. Major...
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22 Jul 2024
--- Milani Cosmetics joins forces with four top American athletes to launch the “Face Set. Mind Set.” campaign. Players include Team USA silver medal-winning artistic gymnast Gymnast Jordan Chiles, Women’s...
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19 Jul 2024
--- Months after going public on the Frankfurt Stock Exchange, Douglas Group reports solid third-quarter results, with revenue rising 7.3% thanks to in-store and online sales. Drugmaker Johnson & Johnson (J&J) also saw...
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17 Jul 2024
--- Coty launches its cosmetics brand, Max Factor, in India through a partnership with retailer House of Beauty. The American multinational beauty company also recruits actress Priyanka Chopra as a brand ambassador. Coty...
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16 Jul 2024
--- Quadpack Industries (ALQP) and PSB Industries are combining into a single group, placing the two beauty packaging manufacturers and providers under the umbrella of PSB Industries. The merger will position PSB Industries...
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15 Jul 2024
--- Unilever is reportedly cutting a third of all office roles in Europe by the end of 2025 in a profits push by the CEO. The FMCG giant told senior executives on Wednesday that 3,200 office jobs will be made obsolete. The move...
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15 Jul 2024
--- The European Investment Bank (EIB) extends €435 million (US$474 million) funding to Stora Enso, supporting its transition to circular and recyclable packaging solutions for the food and personal care sectors. The...
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11 Jul 2024
--- Puig Brands joins Spain’s Ibex 35 index starting July 22. The index comprises the 35 most liquid securities listed on the Electronic Stock Market Interconnection System across stock exchanges in Madrid, Barcelona,...
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10 Jul 2024
--- Univar Solutions seals a deal with Vizor Sun Holdings, becoming an exclusive distributor of Vizor Super Zinc powders and dispersions for sun care and daily-wear SPF products. The specialty ingredients and chemicals provider...
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09 Jul 2024
--- Superdrug’s annual sales increased 11.8% to £1.5 billion (US$1.9 billion), boosted by store expansions and own brand sales. Pre-tax profit jumped 43% to £111.6 million (US$142.8 million), compared to...
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09 Jul 2024
--- Kolmar Korea partners with Amazon, the multinational e-commerce platform, to bring K-beauty brands to the global market. In his welcome speech at the Amazon K-Beauty Conference Seller Day in Seoul, South Korea, Sang-hyun...
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09 Jul 2024
--- Eurofins Scientific acquires Labormar, a chemistry lab in Barranquilla, Colombia. The global tester of food, environment, pharmaceutical and cosmetic products believes the business move will strengthen its network, with its...
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08 Jul 2024
--- Unilever Ventures invests US$4 million in Indonesian skin care start-up Esqa and over £2 million (US$2.56 million) in intimate body care brand Luna Daily. The FMCG giant’s venture capital arm led the Series B...
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05 Jul 2024
--- Hudson’s Bay Company (HBC), parent company of Saks Fifth Avenue, enters a definitive agreement to acquire Neiman Marcus Group, parent company of Neiman Marcus and Bergdorf Goodman, for a total value of US$2.65 billion....
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03 Jul 2024
--- Patanjali Foods will acquire Patanjali Ayurved’s Home And Personal Care business for Rs. 1,100 crore (US$132 million), “subject to customary closing date adjustments.” The company states: “With the...
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