While analysts and trend forecasters are pointing to dupes as one of the biggest threats to beauty this holiday season and beyond, fragrance powerhouse Coty has lifted its FY24 outlook citing a spike in consumer demand for high-end products in its portfolio. Apparently, the August launch of Burberry Goddess, reports Luxury Daily, reached “market sales several times higher than recent competitive blockbuster launches.” Meanwhile, the brand that is on everyone’s radar, E.l.f. Beauty, exclusively shared its 2023 Impact Report with CEW Beauty News, highlighting the brand’s impressive achievements in diversity, inclusion, and sustainability. You can read this story and others at the links below.
E.l.f. Shares 2023 DEI, Sustainability Achievements in Exclusive Report: In addition to making headline-worthy marketing campaigns (Superbowl LVII) and buzzworthy acquisitions (Naturium), E.l.f. Beauty is also winning on the sustainability and DE&I front. Skim the highlights and access their 48-page impact report exclusively in CEW Beauty News. (CEW)
Shiseido Gets In On the Wellness Game: Moved by recent shifts in the global environment, social issues, and consumer well-being, Shiseido has created Shiseido Beauty Wellness, or SBW, set to launch this February, positioning itself as a personal beauty wellness company by the year 2030. (WWD)
Unilever to Sell Off Non-Core Brands: Unilever has hired investment banks Morgan Stanley and Evercore Inc to sell off non-core beauty and personal care brands within its Elida Beauty portfolio, which generated $760 million in revenue in 2022, including brands such as Q-Tips, Impulse, Caress, TIGI, Timotei, St. Ives, Ponds, and Brut. (Business of Fashion/Reuters)
Coty’s FY24 Outlook Improves Buoyed By Prestige Fragrance Sales Forecast: Four weeks ago, Coty predicted that the company’s core like-for-like sales would grow by 8% to 10% in 1H FY24. Now, the figure stands at 10% to 12% percent, driven by the success of Burberry Goddess and disruptive campaigns, according to company CEO Sue Nabi. (Luxury Daily)
The Brands Making Their Mark In Brick & Mortar: Several retail experts identified the brands doing it best at retail in a number of various categories, including Best Retail Activation, Best Pop Up, and Best Service Provider. See who made the cut. (BeautyMatter)
One Brand’s Mission to Make Fragrance Ingredients Transparent: Fragrance entrepreneur Ashlee Posner is paving the way toward greater transparency in fragrance with a new brand, State of Change, and new company, Lucent Labs. She’s hoping the industry will follow suit. (Beauty Independent)