Brand launches and closures dominate beauty headlines this morning, with Lord Jones shuttering in the US market. And while this is just one brand, its closing reflects the larger trend of a slowing of the CBD beauty and wellness boom that has left many brands quietly closing or finding ways out through acquisition. You can read this story and more in the links below.
Revlon and Lanvin Board Member Ceci Kurzman Launches Platform for Textured Hair. OurX is a direct-to-consumer platform that, in addition to selling its own treatment-based product range, will offer educational services and personalized regimens for customers with tightly textured hair. (WWD)
Why Beauty Brands Want a Bigger Piece of the $1.5 Trillion Wellness Pie. The global wellness industry is set to grow at a compound annual rate of between 5 and 10 percent by 2027, with the understanding of wellness extending beyond the notion of just diet and fitness. (Business of Fashion)
Lord Jones Shutters US Operations. Bought by the Cronos Group in 2019, the brand is leaving the US market for now — a surprise to fans ons social media, but not to industry insiders. (Beauty Independent)
Companies’ New Cause: Dodging the Culture Wars. Over the past few years, customers and employees have expected corporate leaders to weigh in and align themselves on social matters, but 2023’s heated culture wars have CEOs rethinking how to do so without facing significant backlash from a portion of the US population. (The Wall Street Journal)
Walmart Looks to Reduce Waste Through Sustainable Packaging. The retailer will adopt measures like recyclable paper bag mailers and right-sizing cardboard box packaging to reduce packaging waste for online orders. (Retail Info Systems)
Here’s Everything Apple Just Announced: Vision Pro Headset, iOS 17, the 15-inch MacBook Air and more. Apple held its 2023 WorldWide Developers Conference where it announced several new technologies and devices, including a “mixed reality” headset that will be available early next year. (CNBC)