Beauty Business News
Despite Coty’s profits not reaching expected results, the company has bought a controlling share in Kylie Cosmetics for a cool $600 million. Expect more new product development in the nail and skin care categories once the deal goes through completely early next year. I’m hearing stronger rumours about Coty owned Bourjois leaving the UK daily but nothing official yet.
Dt Jart+ has been bought by Estee Lauder Companies. Initial investment from ELC took place in 2015 and the brand has gone from strength to strength. This recent move sees ELC acquire the rest of Have & Be Ltd, the current owners of Dr Jart+.
This story just runs and runs. In a nutshell, the claim by Olaplex that L’Oreal took their idea and replicated it via some questionable practice (or to correctly put it, ‘misappropriating trade secrets’ with an own-brand (Smartbond) using the same patented technology resulted in L’Oreal being ordered to pay almost $50m. L’Oreal subsequently appealed that and demanded that patents be invalidated. A UK court has refused the appeal so perhaps this is the end of this 3 year hair drama. Olaplex has just been bought by private equity firm Advent International – interesting because this firm has no recent beauty acquisitions and has a diverse portfolio ranging from Chinese mattresses to business software.
The marketing of menopause is about to go into overdrive with the launch of Kindra from P&G Ventures. It’s a range aimed at menopausal women and includes supplements and skin products plus products to tackle dryness. It’s such a fine line between taking advantage of a life stage and producing meaningful help and it’s yet to be seen which side of the line Kindra falls.
Boots going to private equity Rumours abound that the Boots Walgreen Alliance is set to be taken over by private equity firm, KKR. Walgreens has a debt of $17bn with a market value of approximately $56bn (according to the BBC) so if it takes place, it’s going to be one of the biggest deals of its kind in history.
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