Beyond The Headlines: Ashland, Kenvue and Amorepacific financials, ELF advocates accessible beauty
09 Aug 2024 --- This week in industry news, Ashland, Kenvue and Amorepacfic released financial results for the recently concluded quarters. Meanwhile, ELF partnered with blind swimmer Anastasia Pagonis to make its products more accessible.
Financial results
Ashland announced its financial results for the third quarter of fiscal year 2024 and issued its outlook for the fourth quarter and full year. The global additives and specialty ingredients company posted sales of US$544 million versus US$546 million in the prior quarter. Sales volume improved within the Personal Care and Specialty Additives segments, partially offset by lower Life Sciences volumes. Consolidated year-over-year quarterly volumes increased, up five percent versus the prior-year quarter. Pricing was softer versus the prior year in a moderately deflationary raw material environment.
Kenvue released its financial results for the fiscal second quarter of this year. The second quarter net sales decreased 0.3% following a 5.4% increase in the prior year. Organic growth was 1.5% over 7.7% in the previous year. Organic growth comprised 2.1% value realization (price and mix) and 0.6% volume. The company explained that the volume declines were driven primarily by Skin Health and Beauty and Self Care, partially offset by growth in Essential Health.BASF’s recent fire caused an interrupt in shipments.
Amorepacific’s second-quarter earnings fell short of market expectations with luxury cosmetics revenue decreasing and making up 55% of total domestic revenue. The company attributed the decline to lesser travel retail and new commerce channel revenue. It was also impacted by poor performance in China, despite growth in the US and Southeast Asia. Multi-brand shop and online sales grew by strengthening activities in growth channels.
Campaigns
ELF teamed up with world champion blind swimmer Anastasia Pagonis to serve the broader community. ELF and Pagonis explained that they are journeying to make beauty products more accessible for the blind and low-vision community. ELF and Pagonis developed the “Beauty For Every Eye” bundle. The limited-edition kit features three of Pagonis’ favorite ELF products: Cosmetics Big Mood Waterproof Mascara, Cosmetics Glossy Lip Stain in Power Mauves and Skin Suntouchable Whoa Glow SPF 30 in Sunbeam. Each item has a scannable QR code that links to an audio recording by Pagonis describing the product, including finish and application tips.
SkinCeuticals launched a campaign to “empower people to invest in skin care” with its new wrinkle-modulating peptide serum P-Tiox. The serum is clinically backed and formulated to help reduce the appearance of contraction lines in addition to or instead of neurotoxin injections. The brand is collaborating with TikToker Megan Boni, skin care professionals and financial experts to underscore the intersection of beauty and economic empowerment. Boni remixed her famous “Looking for a Man in Finance” song, changing her tune to emphasize that she only needs to rely on herself for the prosperity of her financial future.
Channing Tatum starred in the Versace Eros campaign, which debuted the collection’s latest eau de parfum pour Homme, Eros Energy. The scent is inspired by the Mediterranean coastline. The Eros fragrance collection is named after the mythological God of love, passion and intensity. Eros Energy joins the existing Eros and Eros Flame fragrances in the signature collection for men.
Product launches
Madison Reed launched ColorWonder Demi-Permanent Hair Color and a corresponding campaign: Team ColorWonder. The “salon-quality,” demi-permanent hair color is made without harsh ingredients. The brand celebrated the launch with a long-term partnership with UConn Athletics, the UConn Women’s Basketball Team and Team ColorWonder. The campaign is rooted in the power of women athletes, starring brand ambassadors and impact advisors Paige Bueckers, Azzi Fudd, Ice Brady and Morgan Cheli.
Auntie Anne’s and Knead create a scent inspired by pretzels.
CloroxPro expanded the Clorox EcoClean product platform with the launch of Clorox EcoClean Disinfecting Wipes. The Design for the Environment-certified, ready-to-use wipes are made with a 100% plant-based substrate and a naturally derived citric acid active ingredient that kills 99.9% of germs without bleach, ammonia or alcohol. The Clorox EcoClean Disinfecting Wipes clean and disinfect without harsh chemical odors and with 38% less plastic. They are made for use in shared spaces such as doorknobs, countertops, tables and desks, being “tough” on grease, grime and germs, including cold and flu viruses, norovirus and COVID-19.
Boots launched a DermaCare Ceramides line with ceramide-powered skin care to deliver hydration and restore skin’s natural moisture barrier. The new range is a seven-piece collection that uses the power of a triple ceramide complex to support, restore and balance the skin’s natural barrier.
Auntie Anne’s bottled the aroma of its freshly-baked pretzels with Knead. The perfume has notes of buttery dough, salt and sweetness. The brand is set to open a “Pretzel Parfumerie” on August 13. Auntie Anne’s fans can immerse themselves in a sensory experience and receive a complimentary tote bag along with an Auntie Anne’s Original Pretzel. Customers who purchase Knead can take home an additional swag item.
Interrupted shipments
BASF interrupted shipments for vitamin and aroma ingredients after a fire damaged equipment at its factory site in Germany. The disruption affected deliveries of selected precursors for the production of vitamin A, E and carotenoid products. The vitamins are needed to make animal feedstuffs and human nutritional supplements.
By Sabine Waldeck
