At CEW today, we talk to Alexandra Papazian, beauty industry leader, global brand revitalizer and CEO at Function of Beauty, where she took over the helm in 2021. On April 29, the company will drop SOS Custom Repair, a new, direct-to-consumer line that targets the needs of damaged hair. “DTC allows us access to customers, providing invaluable first-party data that informs our innovation strategy and helps us understand consumer behavior,” Papazian tells reporter Didi Gluck. “On the other hand, when you’re in 1,800 Target doors, it gives the brand huge scale. Additionally, retail outlets offer a different type of visibility and the opportunity for in-person interaction.”
In breaking news, Unilever has announced its results for the first quarter of 2024, with Prestige Beauty seeing double-digit growth, thanks to Tatcha, Hourglass, and Living Proof. Meanwhile, Inter Parfums Inc. has reported record first quarter net sales, which rose to $324 million, representing a 4% increase from $312 million, in the first quarter of 2023. “For U.S. based operations, our 18% sales growth in the first quarter was primarily driven by Donna Karan/DKNY and GUESS,” said Jean Madar, Inter Parfums Inc.’s Chairman & Chief Executive Officer.
Sephora has been named Top Beauty Retailer in Cosmetify’s social media-based ranking. The data is drawn from the social following, engagement, and number of Google searches of beauty retailers, brands, and influencers. Beauty Bay, the UK-based online retailer came second, with Ulta Beauty (U.S.) and Nykaa, the Indian e-commerce platform, sharing third place. In other makeup news, Glossier has brought back the OG formula of its bestselling Balm Dotcom, for its freshly-dropped Strawberry flavor. The brand withdrew lanolin from the product in 2023, to make it vegan, but has returned to the original formula due to customer demand.
PZ Cussons has revealed that it is planning to sell its St Tropez self-tanning brand, which it acquired for £62.5 million in 2010, in order to “refocus the group’s portfolio on where it can be most competitive,” according to a statement. And speaking of sun safety, market research firm Technavio has predicted that the global squalene market size will grow by $64.75 million from 2023-2027, as a result of increasing consumer awareness of the importance of sun protection.
Catch up on these and other stories at the links below.
Function of Beauty’s Alexandra Papazian Talks Business. The brand launches its Custom Repair range, targeting damaged hair, on April 29. (CEW)
Unilever Announces Q4 Results. Prestige Beauty sales grew double-digit led by Tatcha, Hourglass and Living Proof. (UNILEVER)
Record First Quarter Net Sales For Inter Parfums, Inc. Sales rose to $324 million, representing a 4% increase from $312 million, in the first quarter of 2023. (FINANCIAL TIMES)
Cosmetify Names Sephora Top Beauty Retailer. The company holds the top spot in Cosmetify’s annual social media rankings, with Beauty Bay coming in second, and Ulta Beauty and Nykaa tying for third place. (WWD)
PZ Cussons To Sell St Tropez. The maker of Imperial Leather is to sell off the self-tanning brand. (THE STANDARD)
Glossier Brings Back OG Balm Dotcom. The new Strawberry flavor contains lanolin, which the brand withdrew in early 2023, to make it a vegan formula. (BYRDIE)
Squalene Market To Soar. Market research firm Technavio estimates the global squalene market size will grow by $64.75 million from 2023-2027. (HAPPI)
Bluebird Climate Acquired By Repurpose Global. The move will expand Bluebird Climate’s B2B sustainability services. (BEAUTY INDEPENDENT)