Beyond The Headlines: Leste boosts Prestige, Carlyle’s US$800M Tokiwa sale

08 Mar 2024 --- In this week’s industry highlights, Leste Group’s stake acquisition is set to expand Prestige Cosmetics, and Carlyle Group is reportedly selling Tokiwa Corp. for US$800 million. Meanwhile, LifeVantage pioneers skin care innovation with the TrueScience Activated Collection.

Business and collaborations
Global alternative investment manager Leste Group completed the acquisition of a significant stake in Prestige Cosmetics, a luxury perfume and cosmetics distributor in Brazil with a growing presence in North America. Prestige, the exclusive distributor for brands like Clinique and Dolce & Gabbana in Brazil, wants to accelerate its international expansion with Leste’s support. Leste’s CEO, Emmanuel Hermann, expressed confidence in boosting Prestige’s presence in North America. The financial terms of the private transaction are not disclosed.

Calvin Klein Fragrances announces Idris and Sabrina Elba as the face of the new Calvin Klein fragrance campaign.Private equity firm Carlyle Group reportedly plans to sell Japanese cosmetics supplier Tokiwa Corp. in a deal estimated to be worth US$800 million. Tokiwa is a major supplier of eyeliners and brow-defining pencils to global cosmetics brands and employs about 800 people globally. The company also conducts research, development and manufacturing of cosmetic products.

Dsm-firmenich completed the divestiture of its Jiangshan Vitamin C plant in China, having sold its 100% equity interest in DSM Jiangshan Pharmaceutical. The plant in Jinjiang was officially transferred to Jingjiang Cosfocus Health Technology. The decision to explore options for the plant was initially announced in June of last year, with no disclosed financial details regarding the transaction.

Calvin Klein, a subsidiary of PVH, and Calvin Klein Fragrances, a division of Coty, unveiled actor and musician Idris Elba and his wife, model and human rights activist Sabrina Elba, as the faces of Calvin Klein Eternity Aromatic Essence. The campaign shows the couple in moments of intimacy set to a cover of Fever by musician FKA Twigs. The advertising campaign focuses on Eternity’s theme of eternal love with Eternity Aromatic Essence For Men featuring juniper berry essence with woody and gin-like facets, while the fragrance for women is a fresh and floral gourmand. Model Christy Turlington Burns was the star of the first campaign when the fragrance first launched in 1988. Thirty-two years later, she was joined by her husband and actor, Edward Burns.

Launches and releases
LifeVantage launched the TrueScience Activated Skin Care Collection. Following the October 2023 release of TrueRenew Daily Firming Complex, the entire skin care line is said to cater to the needs of modern consumers. TrueClean Refining Cleanser, TrueLift Illuminating Eye Cream, and TrueHydrate Brightening Moisturizer were among the products that were first introduced in Canada and Europe. The collection is scientifically backed and touted as providing multi-benefit solutions.

Olay Indulgent Moisture Body Wash.Kylie Cosmetics introduced the Cosmic Kylie Jenner Eau de Parfum. Described as a sweet, warm floral with magnetic and addictive qualities, it marks the brand’s entry into fragrance. The sculptural bottle is designed to resemble art “from another world,” featuring keynotes such as star jasmine, blood orange, golden amber accord, red peony accord, vanilla musk accord and cedarwood.

US actor Dwayne “The Rock” Johnson ventured into the beauty industry with his men’s skin care brand, Papatui. The brand emphasizes science-backed formulations and is available at Target. Papatui says its men’s skin care products feature high-quality, cleaner ingredients and luxury scents. The brand also highlights its commitment to social responsibility, with a pledge to donate body care or shower products to youth groups supporting at-risk or less privileged young individuals.

Olay says its Indulgent Moisture Body Wash collection is its most significant skin care breakthrough. The multi-layer formula is infused with moisturizers and Vitamin B3 and said to transform the skin visibly within 14 days. Olay’s survey of 1,000 women aged 18–35 in the US revealed the role showers play in daily self-care. Olay found a gap in the data, noting that only 29% of respondents felt refreshed, at ease, and confident after a shower — even though 79% believed that “me time” was essential. The new body wash collection aims to address this void.

ScentAir introduced Coastal Lavender and Aloe Oasis, pet-calming fragrances utilizing engineered pheromone isolates and botanical extracts. The scents are intended to reduce anxiety in dogs and cats by focusing on stress caused by environmental factors. Accompanied by ScentAir’s Odor Neutralizing technology, the fragrances provide pet owners with a “luxurious” scent while calming their furry friends. 

ScentAir launches pet-calming fragrances with pheromone isolates and botanical extracts.Rituals unveiled its limited edition, The Ritual of Yozakura, featuring Yoshino cherry and black rice extract for an olfactive experience. Inspired by Japan’s hanami and yozakura traditions during cherry blossom season, the collection encourages cherishing small moments. Yozakura, meaning “night cherry blossom, is a festive nighttime spectacle in Japan. The limited edition line includes fragrance sticks, home perfume, scented candles, sake bath milk, foaming shower gel, body cream, pink sugar scrub, body serum, hair and body mist and shimmering body oil.

Social initiatives
Dove collaborated with influencers like Drew Barrymore to address the societal pressure on young girls to prematurely adopt anti-aging skin care routines. The beauty brand  is raising awareness through creative content featuring the hashtag #TheFaceofTen, emphasizing that a two-year-old’s face should be adorned with glitter and stickers, not anti-aging products. The campaign focuses on countering unrealistic beauty standards and pressures young girls face and fostering self-esteem. Dove’s free resource, “The Gen A Anti-Aging Talk,” offers guidance for parents on TikTok on how to discuss beauty pressures with their children.

Aura Cacia allocated US$200,000 in grants through its Positive Change Project to empower women and girls in US communities. The 2016 launch project switched to a biennial cycle to provide longer-lasting, more significant support. The 2024 recipients — Calvary Women’s Services, Resonance Center for Women, and Achievability — were given funds to support programs that tackled basic necessities like higher education and safe housing. As one of Frontier Co-op’s charitable endeavors, the Positive Change Project has given over US$1.3 million to frontline organizations.

By Venya Patel