July 18, 2023

This morning, July 18, the beauty industry is chock-a-block with news, including brand deals and closings, and exciting brand ambassador announcements. The biggest news of the day comes from L’Oréal Paris with the announcement of Kendall Jenner as the brand’s new global ambassador. In addition, hair care brand Bread Beauty Supply closes a multi-million-dollar seed funding round, skin care brand Youth To The People announces singer-songwriter Omar Apollo as its first brand ambassador, and Coty plans to sell a stake in Wella. You can read these stories, and more, in the links below.

Kendall Jenner Named L’Oréal Paris Global Ambassador. Kendall Jenner has been named L’Oréal Paris’ newest global ambassador, taking the lead on the brand’s beauty campaigns starting in September. (WWD)

Youth To The People Announces Omar Apollo as First Ambassador. The 26-year-old Mexican-American singer and songwriter has been announced as Youth To The People’s first brand ambassador. This marks the first celebrity spokesperson for the eight-year-old brand. (Glossy)

Advertisers Warily Embrace A.I. The New York Times explores the rise in AI when it comes to advertising, focusing on how tech makes creating ads easier and more fast-paced than ever before. But does it pose a threat to the industry? (The New York Times)

Coty to Sell 3.6% of Wella to IGF Wealth Management. As part of Coty’s deleveraging strategy, the beauty group plans to sell 3.6% stake ($150 million) of haircare brand Wella.  AFter the transaction closes, Coty will retain a 22.3% stake in Wella valued at approximately $900 million. (WWD)

Bread Beauty Supply Closes Oversubscribed Multimillion-Dollar Seed Round. Hair care brand Bread Beauty Supply has closed a multi-million-dollar seed funding round led by Fearless Fund, although the full amount wasn’t disclosed, founder Maeva Heim says it was oversubscribed. (Beauty Independent)

Groundbreaking Textured Haircare Subscription Service Curlbox To Close. Hair care subscription service Curlbox — which started in 2012 to make textured hair care more accessible and fun — will hold a virtual warehouse sale later this month as it sets to shutter the business. (Beauty Independent)