Weekly Roundup: Trive acquires Henkels’ Right Guard and Dry Idea, L’Occitane optimizes US brick-and-mortar presence
27 Aug 2021 --- In industry news this week, Trive Capital has acquired Henkel’s antiperspirant and deodorant brands Right Guard and Dry Idea, while L’Occitane completed the restructuring of its US lease portfolio, creating a sustainable store platform for the long-term. Meanwhile, Ulta Beauty, announced financial results for the second quarter of 2021, delivering “strong results.”
In brief: Business News
Trive Capital, a Dallas-based private equity firm, formed Thriving Brands, in partnership with industry executives Craig Cappozzo and Rolando Collado. Thriving Brands has completed its first acquisition with the purchase of Right Guard and Dry Idea, two antiperspirant and deodorant brands, from Henkel Corporation. “We are happy to partner with Trive Capital, and to lead the Thriving Brands Company. Together with Trive, we have an aggressive but disciplined growth agenda for the company, focused on buying and building brands in the Personal Health and Hygiene categories, with brands that compete predominantly in the Americas and Western Europe,” Cappozzo states.
Epicutis is a new professional, medical-grade luxury skincare line.Beauty and well-being products company L’Occitane has successfully completed the restructuring of its US lease portfolio, creating a sustainable store platform for the long-term. The optimized footprint includes 133 L’Occitane en Provence boutiques, providing the company with a brick-and-mortar presence to best serve customers across multiple channels. “This is an important step for the continued success of the L’Occitane en Provence brand in the US,” says Yann Tanini, managing director of L’Occitane North America. “With our boutique footprint now right-sized, we are in a strong position to continue delivering the L’Occitane beauty experience and one-of-a-kind products.”
Ulta Beauty has announced financial results for the thirteen-week period (“second quarter”) and twenty-six-week period (“first six months”) ended July 31, 2021 compared to the same periods ended August 1, 2020. Net sales increased 60.2 percent to US$2.0 billion compared to US$1.2 billion in the second quarter of fiscal 2020 due to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions, compared to the second quarter of fiscal 2020. “The Ulta Beauty team delivered strong results for the second quarter. This performance reflects the recovery of the beauty category, investments and choices we’ve made over the last year to adapt to the market disruption and strengthen our leadership position, and the ongoing efforts of our associates to deliver great experiences for our guests,” says Dave Kimbell, chief executive officer. “Our value proposition is strong, and we are evolving and innovating to lead in the new beauty landscape, capture additional market share, and drive profitable growth.”
California-based private equity firm West Lane Capital Partners has acquired a majority interest in International Hair and Beauty Systems’ Simply Organic Beauty in partnership with J.P. Morgan Asset Management's Private Equity Group. Simply Organic, based in Palm Harbor, Florida, is a developer and provider of luxury, professional-only, organic and clean beauty products.
Sormé relaunched its product line within drugstores conforming as a cosmetics brand that approaches makeup from a skincare point of view.In brief: Skincare launches
Biopharma company Signum Biosciences, expert in topical drug development and skincare ingredient, has launched Epicutis, a new professional, medical-grade luxury skincare line. With a commitment to clean beauty and fewer ingredients, Epicutis offers science-based skincare that treats skin health with small-batch formulations and transparency. Epicutis’ products are formulated exclusively with non-toxic, high-quality, patented active ingredients with the goal of attaining and maintaining healthy skin, from the inside out. With concentrated therapeutic ingredients that are sourced with transparency from in-house manufacturers,
Sormé has relaunched its product line within drugstores conforming as a cosmetics brand that approaches makeup from a skincare point of view, aiming towards consumers of newer generations that are more knowledgeable of quality ingredients and mindful of what is being used on their skin. Clinically proven age-reversing peptides are infused with healing vitamins, pure minerals, antioxidants, and active plant botanicals to help nourish and protect the skin while enhancing consumers’ natural beauty. This combination of ingredients and high-definition pigments mixed with skincare additives are the basis to the creation of Sormé’s professional grade cosmetics brand.
In brief: Miscellaneous
Revlon has hired Thomas Cho as Chief Supply Chain Officer. Cho will be responsible for Revlon’s end to end Global Supply Chain Operations, including supply chain strategy, planning, procurement, manufacturing, engineering, distribution and logistics for the Company’s diverse brand portfolio across all channels and geographies. Cho officially joined Revlon on August 2, 2021 and reports to the president and CEO, Debra Perelman.
MuLondon, an award-winning skincare brand based in London, UK, joined 1% for the Planet. The company’s organic skincare range is based on mild and effective formulas “inspired by traditional herbalism with the utmost respect for nature” By joining 1 perfect for the Planet, MuLondon pledges to donate a minimum of 1 percent of annual sales to support environmental non-profit organisations.
By Kristiana Lalou
