“L’Oréal SA agreed to acquire IT Cosmetics for $1.2 billion in its largest acquisition in eight years, adding more than 300 skin-care and makeup products to its lineup. IT Cosmetics, backed by TSG Consumer Partners, will become part of the Luxe division of L’Oréal as part of the all-cash transaction, according to a statement on Friday.” Read more at Bloomberg.
“With new releases launched throughout the year, the fragrance market offers consumers an enormous selection, but there has been little change among the top perfumes. While these new scents have been brought to market with strong media and promotions, consumers are seemingly uninterested in purchasing anything but their personal favorites.” Read more at Luxury Daily.
“Coty Inc., the maker of fragrances by Davidoff and Marc Jacobs, said Camillo Pane will be promoted to chief executive officer when the company’s acquisition of Procter & Gamble Co.’s beauty brands is completed. Bart Becht, who has served as interim CEO, will remain with the company as chairman, New York-based Coty said Thursday in a statement. The P&G deal is expected to close in October, the company said.” Read more at Bloomberg.
“Orgasm is just one of the product names that can jump start the conversation on beauty, humor, and buying power. Does a bad beauty name make or break a product? Would you buy something just because the name? Contrarily, would you boycott?” Read more at Racked.
“When she’s not feuding with Taylor Swift, Kim Kardashian is executive producing an upcoming reality competition program filled with beauty bloggers vying to become beauty director of the Kardashian apps. According to a casting-call announcement it’s been picked up by a major cable television network.” Read more at WWD.
“Jerrod Blandino never imagined he’d end up working in the beauty industry. Nonetheless, the first time he applied makeup while working at a Estee Lauder mall counter and watched people’s eyes light up with confidence as he gave them a new face, he knew he found his calling. He’d create the products that would be on the faces of the people gracing it with the cosmetic and skin care company he co-founded, Too Faced, which got its start in 1998.” Read more at Entrepreneur.