The biggest beauty news this morning comes to us from across the pond, after Revolution Beauty’s disorderly annual general meeting saw some Succession-style surprise twists and turns that resulted in the reinstatement of the brand’s former CEO, CFO, and Chairman — leaving top shareholder Boohoo fuming and calling for yet another meeting (one meeting that really can’t be an email). You can read this story, as well as more of the day’s top beauty and business headlines, in the links below.
Paco Rabanne Is Revving Up With Makeup, More Boutiques. In an exclusive story with WWD, the Puig-owned fashion and fragrance house announced its dropping the “Paco” but adding a makeup range to its offering, which will debut on its e-commerce site as well as at Ulta in the US, Sephora in Europe, and Selfridges in the UK. (WWD)
Grazia US is Reportedly Closing. According to Laura Sherman in her Puck’s Line Sheet newsletter, CEO Dylan Howard reportedly told the publication’s staff on Monday that the American edition of Grazia was closing, effective immediately. (Fashionista)
Boohoo Raises ‘Serious Concerns’ About Revolution Beauty. Things are getting heated across the pond after Boohoo, which owns about 27% of Revolution Beauty, voted to oust the cosmetic company’s three most senior directors in a chaotic annual general meeting on Tuesday, only to have them reinstated by its remaining director. (Financial Times)
Why Beauty’s Challenger Brands Need to Rev Up Growth. In a McKinsey analysis of 46 independent brands that launched after 2005, each with global retail sales between $50 million and $200 million, only four had surpassed $400 million in sales five years later. BoF looks into what those four brands did right. (Business of Fashion)
Attracting and Retaining Startup Talent. Forbes offers practical advice on how startup founders can attract and keep top talent by addressing findings from a recent study on the three main reasons people quit their jobs. (Forbes)