Estée Lauder inks Intercos deal, invests in Kiki World and eyes China’s fragrance sector

09 Apr 2024 --- Latest developments with The Estée Lauder Companies (ELC) include a partnership with Intercos Group, an investment in Kiki World and its focus on the diverse Chinese fragrance market. 

The new commercial agreement with Intercos is expected to see the cosmetics giant shift most of its internal US powder production to Intercos America.

According to the global provider of cosmetics, skin, hair and body care products, the 40-year partnership will boost its leadership in cosmetic powders — “a product category that requires investments in innovation and consolidated know-how over time.”

Intercos was founded in 1972 by Dario Ferrari and has approximately 6,400 employees, 11 research centers, 16 production facilities and 16 commercial offices.

Future of beauty
According to reports, ELC invested in Kiki World, “the first beauty platform that lets you decide what we make.” Customers are encouraged to vote for their favorite products, earn rewards and become co-creators.

Arianna Simpson, general partner at Andreessen Horowitz, says: “Kiki is now breaking down a barrier by letting consumers directly weigh in on what products they want to see created next,” as till now, communities have not directly influenced product creation.

The NFC chip press on nails can replace business cards and socials (Image credit: Kiki World).The platform raised US$7 million, backed by ELC New Incubation Ventures (NIV), Andreessen Horowitz, Double Down, 2Punks Capital, Advancit, RedDao, OrangeDao and Gmoney.

“Consumers are at the heart of what we do,” adds Shana Randhava, SVP at NIV, in a statement according to Forbes. She expresses excitement over Kiki’s vision of placing the customer first and its approach to co-creation using blockchain technology.

Kiki offers fan co-creations such as Chipped and Pretty Nail Graffiti PNG (Portable Network Graphics). Chipped nails are marketed as “your information at your fingertips,” as they are sold as NFC chip press-on nails. To Kiki, the chip can replace business cards and socials by sharing information with a tap of the chip to a mobile phone.

Fragrance Day in China
Jo Malone London revealed exclusive details about an upcoming partnership in China.ELC’s China branch organized an immersive Fragrance Day Media Gathering in Shanghai to inform journalists about the company’s global fragrance collection and its focus on the diverse and expanding Chinese fragrance market. 

Executive group president Stéphane de La Faverie discussed how ELC’s wide range of products meets the needs of the increasingly diverse Chinese fragrance market. He observed that Chinese fragrance consumers are “becoming increasingly sophisticated and knowledgeable about fragrances, expanding their usage occasions, creating news rituals, and looking for scents that are unique.”

Participants could sample fragrance brands from ELC, and Estée Lauder gave a sneak peek at their Legacy Collection — a partnership with Editions de Parfums Frédéric Malle that reimagined five classic Estée Lauder fragrances. 

After the presentation, Jo Malone London revealed exclusive details about an upcoming partnership, and Editions de Parfums Frédéric Malle showcased their latest collection with Acne Studios. Le Labo, Tom Ford Beauty, Kilian Paris, Aerin Beauty and other ELC fragrance brands had interactive displays.

By Venya Patel