Weekly Roundup: NYSE to delist Revlon, Credo Beauty acquires Follain
21 Oct 2022 --- This week in personal care news, Evolva received US$540,000 from the US Centers for Disease Control and Prevention (CDC) to develop nature-based and effective products for protection against vector-borne diseases from insects and ticks. The New York Stock Exchange (NYSE) announced a decision to suspend and remove Revlon from trading in the Class A Common Stock and will now file a delisting application with the Securities and Exchange Commission. Meanwhile, Upkeep announced a US$2 million seed funding to accelerate growth and expand to new markets.
ELC was represented at the 44th Annual Conference and Expo of the National Black MBA Association (Image Credit: ELC).Business News
Evolva received US$540,000 from the CDC for developing NootkaSHIELD for new formulations and applications in tick-bite prevention. The grant is an essential milestone in bringing next-generation protection against vector-borne diseases from insects and ticks to the US market. This follows the initial US Environmental Protection Agency registration of nootkatone as an active ingredient for use in insecticides and insect repellents. Specifically, Evolva will develop nature-based and effective products that people can easily use before and after outdoor activities in high-risk tick areas that will kill or repel ticks to reduce the number of tick-borne disease cases.
NYSE announced a decision to suspend and remove Revlon from trading in the Class A Common Stock and will now file a delisting application with the Securities and Exchange Commission. The NYSE previously announced on June 16, 2022, that it had commenced delisting proceedings after Revlon had disclosed its intention to file for protection under Chapter 11 of the Bankruptcy Code.
Upkeep announced US$2 million seed funding to accelerate growth and expand to new markets. The round was co-led by The Anthemis Female Innovators Lab Fund and 1517 Fund (early Loom and Figma backers) and angel investors, including Coco Meers. This investment will further Upkeep’s aim to modernize the medical aesthetics experience for both customers and providers. The brand plans to utilize this funding to launch in six new markets by the end of 2022 and grow its offerings with adjacent categories and customized treatment packages. Additionally, Upkeep recently introduced flexible financing options directly in their app. This service will help meet the demands of Gen-Z consumers who are exploring cosmetic dermatology and will provide greater accessibility for these procedures.
Credo Beauty acquired Follain, the US-based retail brand that, alongside Credo, was an early innovator in the clean beauty movement. As part of the acquisition, Credo will absorb Follain’s online retail business and storefront in Beacon Hill, serving as the retailer’s second store in the Boston market. The Follain-branded skincare line will become part of Credo’s brand portfolio, which currently consists of an inclusive makeup brand, Exa and a mineral sunscreen collection, EleVen by Venus Williams.
Image 150K Hair Follicle Serum contains a concentrate of DefenAge’s patented Age-Repair Defensins (Image Credit: DefenAge Skincare).
Fragrance Creators Association (FCA) amplified ongoing collaboration and shared commitment with the US FDA to advance state-of-the-art science. The director of the FDA’s Office of Cosmetics and Colors, Linda Katz, told FCA Board of Directors members that industry partnerships are critical to cosmetic safety.
The Estée Lauder Companies (ELC) was represented at the 44th Annual Conference and Expo of the National Black MBA Association (NBMBAA) in Atlanta, US. ELC shared the space with more than 250 companies to conduct 44 onsite interviews to build on talent pipelines, drive employer branding and increase awareness of its brand portfolio. The attendance at the conference resulted in more than 700 event registrants and approximately 400 applicants who applied for roles across five business functions and regions. The NBMBAA’s 44th Annual Conference and Expo was an opportunity for students, early and mid-career professionals, managers and senior leaders to take advantage of companies interviewing and hiring onsite.
NovaBay Pharmaceuticals received significant orders for DERMAdoctor Kakadu C – a 20% vitamin C serum with ferulic acid and vitamin E. The antioxidant-rich Kakadu C serum helps to brighten and even skin tone while also improving the appearance of skin elasticity, fine lines and wrinkles. This clinical-strength serum features 20% stabilized vitamin C and is formulated with superfruit Kakadu plum, wild-harvested in the remote Kimberley region of Australia. According to the company, the Kakadu plum is “one of the richest natural sources” of vitamin C, containing an average of 55 times more than an average Florida-grown orange.
Perricone MD Essential Fx Acyl-Glutathione Chia Oil and Chia Cleansing Balm.Launches and releases
Perfect Corp. introduced virtual try-on technology for hairstyles. The solution leverages advanced artificial intelligence (AI) technology, including machine learning and Generative Adversarial Network, to help brands and hair salon businesses provide customers with hyper-realistic hairstyle simulations. This virtual try-on solution will enable consumers to visualize how various haircuts look before committing to a particular style. Users can choose from 12 hairstyles and augmented reality technology for hair color try-on. When simulating transitions to shorter haircuts and styles, the advanced AI algorithm is capable of recreating parts of the face, ears, neck and head to ensure a realistic representation of the result. The technology also considers hair color and skin tone when adapting simulations to each consumer’s unique characteristics, delivering inclusive and impactful AI simulations for all.
Galderma introduced its Alastin Skincare A-Luminate Brightening Serum, designed to help reduce the appearance of surface pigmentation without any harsh or irritating ingredients. It contains a blend of peptides, antioxidants and targeted ingredients to allow the skin to appear brighter and create a more even-toned, luminous complexion over time. With Alastin’s proprietary PATH-3 technology, the lightweight, non-irritating serum is formulated without hydroquinone or retinol and is safe for long-term daily use.
Outlaw, the US-based personal care and fragrance company, known for memory-inspired unconventional scents, introduced five lip balms for adults. These natural lip balms offer alcohol-inspired flavors: Whiskey Business – whiskey and cola-flavored lip balm; Whiskey A Go-Go – whiskey and coffee flavored; Outlaw on the Rum – rum and cola-flavored lip balm; Kentucky Mule – whiskey and ginger beer flavored and limited edition Holiday Cheer – holiday mulling spices flavored lip balm.
DefenAge Skincare launched its first hair-centric product, the 150K Hair Follicle Serum. The drug and hormone-free formula contains a concentrate of DefenAge’s patented Age-Repair Defensins. Defensin molecules are scientifically proven to stimulate the skin’s latent master cells and spark a targeted, regenerative response. The light, water-based formula is also infused with 48 ingredients shown to have clinical efficacy on the scalp and hair, including the natural flavonoid Apigenin, azalea flower-isolated yeast extract and organic pea sprouts extract.
Perricone MD added two new products to its Essential Fx Acyl-Glutathione Collection – the Chia Oil and Chia Cleansing Balm. These innovations harness the brand’s patented Acyl-Glutathione to target deep-set lines, creases, wrinkles and expression lines. Working together alongside an omega-rich vitamin F blend of chia, flax and macadamia seed oils to promote a healthy glow, increased suppleness and improved elasticity by intensely nourishing and protecting the skin’s moisture barrier.
GIMME Beauty has released its Pink Collection in honor of Breast Cancer Awareness Month.
Partnerships
Milliken & Company, experts in plastics additive and colorant technology, partnered with Finnish flexible packaging giant Huhtamaki Group to develop a more environmentally sustainable, monomaterial laminate for use in tubes targeting cosmetics, toothpaste and other personal-care applications. The results of this joint effort are high-density polyethylene tubes produced using Huhtamaki laminates optimized with Milliken UltraGuard Solutions technology. “The tube resulting from this joint development work is opaque with a silver shine, making it ideal for beauty product applications,” said Dr. Detlev Schulz, senior manager of sustainability and business development for Huhtamaki’s Global Tube Laminates business.
GIMME Beauty, the innovative hair solutions company, partnered with Susan G. Komen Foundation to support breast cancer research. GIMME is sponsoring the 2022 Komen Race for the Cure fundraising event, a 5K run on October 29 in Chicago, US. Race participants will receive a pack of pink GIMME hair ties designed exclusively for the event. The company has also released its Pink Collection in honor of Breast Cancer Awareness month and is donating a portion of the proceeds from the collection to the Susan G. Komen Foundation.
By Radhika Sikaria
