Beauty Store Business magazine - December, 2019

News

Estée Lauder Acquires Dr. Jart +

The Estée Lauder Companies has acquired Have & Be Co. Ltd., the company that owns global skincare brand Dr. Jart+ and men’s grooming brand Do The Right Thing. This new found partnership between Estée Lauder and Dr. Jart+ will helped further strengthen Estée’s leadership position within the skincare segment of the beauty industry and will help expand its reach in Asia/Pacific, North America and the UK. Estée Lauder expects net sales to increase by $500 million as a result of the acquisition.

Coty Buys Majority Stake in Kylie Cosmetics for $600 Million

Kylie Jenner, founder of Kylie Cosmetics and Kylie Skin, announced her strategic partnership with Coty in order to expand her existing beauty business into a global powerhouse brand. Under the terms of the agreement, Coty will acquire a 51 percent ownership in the partnership for $600M and Jenner will remain the creative leader. Jenner’s brands are two of the fastest-growing and most-engaged beauty brands on social media due to her high following count (more than 270 million followers across her social channels).

Unilever Has A New Chairman of the Board

Unilever has announced that Marijn Dekkers will step down as chairman of the board with immediate effect. Dekkers, who was appointed in April 2016, made this decision so he can focus on his growing responsibilities as founder and chairman of Novalis LifeSciences, the investment and advisory firm. He will continue to serve as a non-executive director of Unilever. The board has appointed Nils Andersen to succeed Dekkers as chairman.

Q3 Makeup Sales Continue to Decline, NPD Group Reports

Sales of U.S. prestige beauty products reached $4.2 billion in Q3, a 1 percent increase over 2018, according to market research findings from The NPD Group reported online.

Under the prestige beauty products umbrella, the skincare category grew by 7 percent, fragrance grew by 3 percent and haircare sales grew 17 percent.

While makeup still accounts for the largest portion of dollar sales within prestige beauty, the category declined 7 percent, after already experiencing a 4 percent decline in Q2.