Jenni Baden HowardThe lines between luxury and mass beauty are blurring, according to a new report by NielsenIQ. Today at CEW, we spotlight NIQ’s latest research, which reveals that the concept of an exclusively “luxury beauty buyer” has been superseded by today’s cross-purchasing consumer, with increased access to more brands and product information. The report offers key insights into how department stores are competing to win customers, which categories are most likely to be cross purchased, how fragrance is affected, and more.
In breaking executive news, The Estée Lauder Companies has appointed Akhil Shrivastava as its new Executive Vice President. Shrivastava will succeed Tracey Travis, who is retiring. Meanwhile, Peter Hawkings, Tom Ford’s Creative Director, is leaving the company. “I would like to express my gratitude to Peter for his exceptional contributions to Tom Ford from the very beginning,” said Guillaume Jesel, President and CEO, of Tom Ford and Luxury Business Development, The Estée Lauder Companies.
L’Occitane International SA has announced it is going private, having obtained sufficient support to delist from the Hong Kong Stock Exchange. “We remain committed to our brand-specific and geography-specific strategies,” said Reinold Geiger, the majority shareholder of L’Occitane, which also makes Sol de Janeiro and Elemis, as well as L’Occitane en Provence products. In other market news, Inter Parfums Inc. has reported record Q2 net sales. “With strong sell-in from our newest licenses, Roberto Cavalli and Lacoste, and healthy fragrance demand, second quarter sales were a record $342 million, up 11% from the second quarter of 2023, said Jean Madar, Chairman & CEO. “United States based operations grew sales 8% in the second quarter, following a very strong first quarter where we achieved 18% sales growth.”
In product news, Jones Road dropped its first Miracle Balm Palette yesterday. “This is what happens when customer requests meet marketing, product development, packaging, forecasting, social, ops and me,” said Bobbi Brown, founder, on Instagram. Meanwhile, Benefit Cosmetics launched its TikTok Shop on the platform’s Super Brand Day – running July 23 – 29 – showcasing two exclusive POREfessional products.
Read more about these and other stories at the links below.
Where Does Mass End And Luxury Begin? A new report by NielsenIQ reveals that the beauty lines are blurring. (CEW)
Estée Lauder Companies Taps Akhil Shrivastava As New EVP. Shrivastava will succeed Tracey Travis, following her retirement. (BUSINESS OF FASHION)
Peter Hawkings Departs Tom Ford. The brand’s Creative Director has announced his departure. (BEAUTY PACKAGING)
L’Occitane To Go Private. L’Occitane International SA has obtained sufficient support to delist from the Hong Kong Stock Exchange. (WWD)
Record Q2 2024 For Inter Parfums. United States based operations grew sales 8% in the second quarter, following an 18% sales growth in Q1. (INTER PARFUMS)
Jones Road Drops Miracle Balm Palette. The perfectly portable trio of balms launched yesterday. (JONES ROAD)
Benefit Launches Launches TikTok Shop On Super Brand Day. The brand is showcasing POREfessional Matte Primer and POREfessional Power Powder exclusively at the shop. (HAPPI)
J.C. Penney And Thirteen Lune Restructure Partnership. The collaboration has seen minority-owned beauty brands introduced at the department store retailer. (BEAUTY INDEPENDENT)
