Sophia PanychThis morning, July 26th, the headlines reveal good news for a lot of beauty companies, especially in the prestige sector. LVMH sees positive growth in the first half of 2023, Pat McGrath Labs enters Ulta at the end of the month on the back of also experiencing significant growth this year, and Elizabeth Arden is experiencing a massive resurgence thanks to a new generation discovering the skin care and cosmetics brand on TikTok. You can read these stories and more in the links below.
Pat McGrath Labs Launches at Ulta Beauty. Select stores will offer the brand’s best-sellers starting in July, while the full assortment will become available online in September. (WWD)
How Private Equity is Remaking Beauty Manufacturing. Private equity firms are investing in the beauty manufacturing space and changing the landscape, from consolidations to ending entry-limit requirements, decisions that have pros and cons depending on the size and scale of a brand. (Beauty Independent)
L’Occitane Owner Said to Mull Buyout of $4 Billion Beauty Firm. The company’s controlling shareholder is considering buying out minority shareholders in order to take L’Occitane International private. (Beauty of Fashion)
LVMH Reports 15pc Revenue Growth for First Half of 2023. Sephora and the luxury travel stop DFS Group saw the biggest increases in revenue, up 26 percent from 2022’s first half. (Luxury Daily)
This Iconic 113-Year-Old Brand is Seeing a Resurgence on TikTok. Elizabeth Arden has seen a 3,000 percent growth month-over-month, with 4.8 million views for the hashtag #elizabetharden. (New Beauty)
