Weekly Roundup: P&G pledges net-zero greenhouse gas emissions by 2040, Merit completes US$20M series A funding round
17 Sep 2021 --- In personal care news this week, Procter & Gamble (P&G) accelerated its action on climate change toward net-zero greenhouse gas emissions by 2040, while Merit secured a US$20 million deal. Meanwhile, L’Occitane en Provence expanded its omnichannel brand with MyL’Occitane to support eco-conscious entrepreneurs.
In brief: Business news
Minimalist beauty brand Merit secured US$20 million in a series A funding round led by the growth fund of L Catterton, a consumer-focused private equity firm. The transaction underscores strong investor confidence in Merit’s success and consumer interest in simplifying a beauty routine. The investment will accelerate Merit’s rapid expansion into an omnichannel, cross-category beauty brand.
Following the growing consumer need for brands to be more environmentally friendly, P&G established a comprehensive plan to accelerate action related to climate change. P&G also set a new ambition to achieve net-zero GHG emissions across its operations and supply chain, from raw material to retailer, by 2040, as well as interim 2030 goals to make meaningful progress this decade. The company also published a Climate Transition Action Plan and set new science-based targets.
To cultivate a more inclusive world of sustainable beauty, L’Occitane en Provence unveiled MyL’Occitane, a new social selling platform. Through this platform, L’Occitane gives its eco-conscious community the tools to begin their entrepreneurial journey. L’Occitane Consultants will gain access to training, business management tools, virtual business onboarding and a personal website link.
COSRX Master Patch Intensive has hydrocolloid patches that form a protective, air-tight, healing seal around blemishes.
Biocompatible skincare brand Drunk Elephant is set to launch in all Ulta Beauty stores and online starting September 26, 2021. At the launch event, Ulta Beauty guests will discover the brand’s assortment of skincare products. These include Protini, Polypeptide Cream, C-Firma Fresh Day Serum and TLC Sukari Babyfacial.
Chinese color cosmetics brands Perfect Diary and JDDJ entered into a partnership to promote the digital transformation of brick and mortar stores. The partnership will also provide Chinese consumers with convenient one-hour shopping services of popular Chinese brand cosmetics products. The partnership strengthened Perfect Diary’s omnichannel strategy and created a model of on-demand retail for cosmetics brands.
The biotech beauty brand, Codex Beauty Labs, was granted two US patents related to its newest skincare line, Antü. This line of products helps to combat aging caused by a compromised skin barrier.
In brief: Lanches and releases
Spectra expanded standard ranges by including ten new capacity options to several existing bottle ranges and two new closures. The expansion responds to consumer demand, and the new additions can satisfy a wide range of product applications. “We are constantly evaluating existing ranges to give customers a genuine choice,” says Jonathan Powell, sales director at Spectra.
Skincare brand, COSRX, launched COSRX Master Patch Intensive, an upgraded version of Acne Pimple Master Patch. The product has hydrocolloid patches that form a protective, air-tight, healing seal around blemishes. The COSRX Master Patch has patches that one puts on a pimple as a spot treatment. They help to promote healing and protect the pimple from irritation.
PSY, a Beauty For All industries brand, launched Glam Bag x Huda, a collection of coveted products in beauty curated by Huda Kattan, CEO and founder of Huda Beauty. The entrepreneur brought her love for artistry, multi-dimensionality and raw authenticity to the fourth edition of IPSY’s Glam Bag X program.
Biocompatible skincare brand Drunk Elephant is set to launch in all Ulta Beauty stores and online starting September 26, 2021.
In brief: Miscellaneous news
Beauty brand Orora Skin Science partnered with Girlstart to provide financial support for a suite of STEM education programs for K-12 girls in the US who have a low-income background. “We started this partnership to show a long-term commitment to an organization that shares our values of supporting women, increasing their self-esteem and leadership opportunities through scientific inquiry,” says Peter Lee, CEO of Orora.
The Estée Lauder Companies (ELC) returned to Climate Week NYC for the fifth year to join global voices to discuss their role and efforts in tackling climate change. “We come to the table ready to discuss new solutions, inspire fresh ideas for climate action and collectively drive innovations and progress,” notes Nancy Mahon, senior vice president, global corporate citizenship and sustainability, ELC.
Gillette Venus formed a new ‘Board of Trust-Seas,’ led by Olympic surfer and ocean advocate Carissa Moore to help women lead in ocean conservation. Through the Board of Trust-Seas, Venus will continue its commitments to help protect the ocean, building on years-long partnerships and product innovation that inspires women to love their skin and the planet.
By Nicole Kerr
