Following the announcement yesterday that The Estée Lauder Companies will be cutting between 3% and 5% of its positions as of June 30 as part of its Profit Recovery Plan, CEW reports on the company’s second quarter sales and the strategy behind the new program. These were presented in detail during an earnings call Monday morning company President and Chief Executive Officer Fabrizio Freda, and Executive Vice President and Chief Financial Officer Tracey Travis. Despite reporting a 7% decline in net sales and an 8% decrease in organic net sales, Freda said these exceeded the company’s expectations for profitability. He highlighted the success of The Ordinary, La Mer, Clinique (makeup), Le Labo and Jo Malone London among brands in the portfolio that performed strongly.

Today at CEW, Dominique Gagnon, Vice President/GM of Consumer Brands at Debut — the L’Oréal-backed incubator that targets ‘inflammaging’ with biotech ingredients — shares the science and innovation behind the company’s success. “What’s unique about our business model is that we have an in-house screening, testing, and formulation platform that allows us to move very, very quickly,” she tells Paige Herman-Axel. “Over the past 12 months, we’ve created and tested more than 250 novel, safe, clinically-backed bioactive ingredients.”

In wellness news, CEW shares the top Future of Wellness 2024 Trends, as revealed by The Global Wellness Summit in its latest annual report. Melissa Hago unpacks the trends, ranging from the move towards “climate-adaptive wellness” and a focus on “healthspan” in longevity; to postpartum wellness and the power of spiritual pilgrimage.

The trend for more intimate, bespoke hair styling services continues, post-pandemic. Celebrity hairstylist Eve Scrivo, who runs her eponymous salon in rural New York, and Megan O’Brien, founder of at-home hair and makeup service Ring My Belle, share their stories with reporter Genevieve Monsma. Also in hair care, celebrity stylist Pecis just launched his Blu & Green clean product range.

In breaking news, Coty has signed an agreement with Marni, the Italian fashion brand, to create fragrance and beauty products beyond 2040. “We are excited to start working with Marni to develop premium beauty offerings that bring the Fashion House’s visual style and values in beauty to life,” said Sue Nabi, CEO of Coty.

Catch up on these and other stories at the links below. 

Estée Lauder On Its Job Cuts, Q2 Results, And Profit Recovery Plan. President and Chief Executive Officer Fabrizio Freda, and Executive Vice President and Chief Financial Officer Tracey Travis co-hosted an in-depth earnings call on Monday morning. (CEW)

The Top Future of Wellness 2024 Trends. The Global Wellness Summit has shared its annual report on the game-changing trends set to shape wellness this year. (CEW)

Debut’s Point Of Difference. Dominique Gagnon, Vice President/GM of Consumer Brands at Debut, an incubator backed by L’Oréal, explains what is unique about the biotech company’s approach to targeting “inflammaging” with its new brand Deinde. (CEW)

Why Salons Are Going Bespoke. CEW interviews New York City salon owner and celebrity hairstylist Eva Scrivo, and Megan O’Brien, founder of at-home hair and makeup service Ring My Belle. (CEW)

Coty Signs Beauty License With Marni. Founded in Paris in 1904, Coty boasts a portfolio of iconic brands in fragrance, makeup, skin and body care. (BUSINESS WIRE)

James Pecis Launches Blu & Green Hair Care. The sustainably-focused range features plastic-free packaging, and has launched at the brand’s e-commerce site. (BUSINESS OF FASHION)

Natura & Co Considers Selling Avon. The Brazilian beauty giant, which sold The Body Shop last year, is reported to want to focus on its home market. (GLOBAL COSMETICS NEWS)