At CEW today, we report on Drybar founder Alli Webb’s powerful story of building—and subsequently selling—a multi-million dollar beauty business, whilst battling a series of personal crises behind the scenes. With her just-released memoir, The Messy Truth: How I Sold My Business for Millions But Almost Lost Myself, Webb hopes to encourage more open conversation around the pressures of empire-founding. “Webb opens up about Drybar’s meteoric rise and a cascade of hardships, including divorce, her son’s unexpected time in rehab, and paralyzing depression,” writes Polly Blitzer, who shares some of Webb’s key takeaways for aspiring entrepreneurs and executives in our feature. “Now, with a bit of hindsight and wisdom, Webb is focused on helping others by sharing her story.”
Retail newswires are buzzing following yesterday’s announcement that Farfetch has been sold to Coupang, a Southern Korean e-commerce company. According to reports, the luxury online retailer has been saved from potential bankruptcy through the deal, in which it will receive $500 million in emergency funding. As a result, luxury goods group Richemount has terminated its pending agreement to sell a majority stake in Yoox Net-a-porter to Farfetch. Farfetch closed its beauty division—which showcased brands including Charlotte Tilbury and La Mer—earlier this year.
According to Jessica Matlin, Moda Operandi’s director of beauty, online retailers may adopt a conservative approach overall to beauty purchase ordering in 2024. “People are not really feeling like spending, so how much are they going to spend, and are they going to be using beauty as a treat product, but maybe pulling back on other things?” Matlin told Beauty Independent.
The latest celebrity brand to launch Stateside, Caia Cosmetics—founded by Swedish influencer, TV personality and singer Bianca Ingrosso—has reported a revenue of 526 million SEK ($50 million) since launching five years ago and expanding into other European countries, including Germany and the UK. The products are now available to shop in the U.S. via the brand’s website.
Read more on these and other stories at the links below.
Alli Webb Tells Her Story. The Drybar founder opens up about the personal challenges she faced behind the scenes before selling the company, and what she hopes others might learn from it. (CEW)
Farfetch Sells to Southern Korean Firm, Coupang. The luxury online retailer will receive $500 million in emergency funding, and Richemount has terminated its pending agreement to sell Farfetch a majority stake in Yoox Net-a-porter. (BUSINESS OF FASHION)
Online Retailers May Cut Back on Beauty in 2024. Jessica Matlin, Moda Operandi’s director of beauty, expects online retailers to take a more conservative approach to beauty purchase ordering in 2024. (BEAUTY INDEPENDENT)
Caia Cosmetics Makes U.S. Debut. Swedish influencer Bianca Ingrosso brings her brand of “Scandi-Glow” beauty to the U.S. (FORBES)
True Beauty Ventures Invests in Iris&Romeo. Currently sold in Credo Beauty, the multi-tasking make-up brand is also launching into Sephora (initially, via the app). (WWD)
Selling The Scent Of Nostalgia. Beekman1802’s latest collaboration with Nestlé Toll House, in the form of a line of cookie-scented body care products, resulted in $1.6 million of sales in one day alone – despite shoppers not being able to smell the goods. (GLOSSY)
Need A Last Minute Gift? Look no further than our CEW 2023 Beauty Award Winners, with links to shop and something for everyone left on your Christmas list. (CEW)
