Weekly Roundup: Universal Beauty Group bolsters “natural beauty” offering with investment, Estée Lauder Companies recognized for ESG performance
10 Dec 2021 --- This week in industry news, Universal Beauty Group raised €6 million (US$6.77 million) to accelerate its development in the natural beauty sector. Kensing and Azelis have signed an agreement to distribute Kensing’s vegetable-oil-based vitamins and phytosterols. In other news, Estée Lauder Companies has been included in the Dow Jones Sustainability Index and fragrance titan Firmenich has been awarded a fourth consecutive Triple “A” status.
In brief: Business moves
Universal Beauty Group has raised €6 million (US$6.77 million) in capital from a group of investors led by Connect Pro, an investment fund based in France. The founders, Vincent Faraco and Jean-Marc Delabre, will remain reference shareholders and will continue to lead the group. The investors’ entry into the company’s capital allows the business to accelerate its development in the natural beauty sector, a market expected to show annual growth of 6% to 9% over the period 2021 to 2027.
Solvay Ventures has invested in DMC Biotechnologies, a US-based biotechnology company that delivers scalable biocatalysts through microbial fermentation. DMC is Solvay’s first portfolio company in biotechnology. Its core technology addresses a key challenge for biotech companies, considered to be the next wave of a biotechnology paradigm, as it decouples cell growth and production while optimizing metabolic pathways in each phase.
Estée Lauder Companies has been included in the Dow Jones Sustainability Index.
Kensing and Azelis have signed an agreement for the distribution of Kensing’s vegetable-oil-based vitamins and phytosterols Covi-ox, Covitol, Copherol and Generol in the food and health, nutrition and personal care markets of Europe, the Middle East and Africa. Azelis was selected for its technical services, formulation development and strong supply chain in food, health and personal care. The agreement enables Kensing to optimize its distribution network in the region.
In brief: Sustainability strides
Fragrance and flavor giant Firmenich has been awarded a fourth consecutive Triple “A” status by CDP for the group’s leadership in transparency and action on climate change, water security and forestry protection. CDP, which is considered the gold standard of corporate environmental reporting, today places Firmenich among only 14 companies worldwide that achieved a Triple “A” listing in 2021, out of more than 12,000 that were scored based on data they submitted to CDP.
Estée Lauder Companies has been included in the Dow Jones Sustainability Index for the US in 2021. Inclusion in the index is recognition of the company’s environmental, social and governance (ESG) criteria performance over the past year and continued commitment to transparency and disclosure.
In brief: Awards and recognition
The Business Intelligence Group (BIG) named ageLOC LumiSpa "Product of the Year" in the 2021 BIG Awards for Business. The product was recognized for its treatment and cleansing capabilities. The award is the latest in more than 30 beauty awards the device has won globally.
By Inga de Jong
