Beauty Store Business magazine - May, 2019

News

Direct-to-Consumer Glossier Raises $100 Million for Future Growth

Direct-to-consumer beauty brand Glossier announced that it has raised $100 million in Series D funding to build the future beauty company "in collaboration with its customers," read the press release.

Sequoia Capital led the round, with participation from Tiger Global Management, Spark Capital and existing investors—Forerunner Ventures, Thrive Capital, IVP, and Index Ventures.

New California Legislation Introduced to Ban Cosmetics With Harmful Chemicals

Legislation aims to ban cosmetics with chemicals linked to cancer and reproductinve harm.

This week, California legislators introduced a bill that would ban cosmetics containing chemicals linked to cancer and reproductive harm. More specifically, it would ban the use of cosmetics sold in California containing 20 highly toxic chemicals known to cause cancer, reproductive harm or hormone disruption.

Perfect Corp. Launches In-Store Magic Mirror Solution

Perfect Corp. has announced the expansion of the YouCam suite of apps, with the standalone In-Store Magic Mirror solution – YouCam for Business app.

The dedicated app is designed to bring artificial intelligence (AI) and augmented reality (AR) makeup solutions to brands and retailers worldwide. The app’s in-store consultation services use a variety of popular YouCam Makeup features, including AR makeup try-ons, Advanced AI Skin Analysis, AI Smart Shade Foundation Finder and 360° Live Hair Color Tryouts—all aiming to boost sales, increase basket size and reduce waiting times.

JD Beauty and Goody to Merge

JD Beauty, the parent company of WetBrush, Bio Ionic and Ouidad, announced this week that it will merge with Goody Products, an iconic manufacturer of hairstyling tools and accessories.

ACON Investments, the private equity firm that purchased Goody from Newell Brands in August 2018, has signed a definitive agreement to buy a controlling interest in JD Beauty from Topspin Partners, a consumer-focused private equity firm.