It’s hard not to frown upon seeing hair color boxes, toothpaste tubes, and shampoo bottles kept under lock and key at many mass stores across the country, a result of in-store crime sweeps, where groups of thieves swarm into a store, usually disguised, and get away with everything from apparel to personal care products to electronics. Some of the hardest hit retailers have been mass stores, and Target revealed today they would be closing nine stores in major cities across four states, claiming theft and organized retail crime as making the environment unsafe for staff and customers – and unsustainable for business. This is likely the first of many closings we will hear about in the weeks and months to come, especially as the holiday creeps closer.
But all is not dark, beauty’s bright spots abound, including a new partnership between beauty powerhouse E.l.f. and actress Jennifer Coolidge; a new opportunity for BIPOC founders; an award for Leonard Lauder; scent’s new sustainable era; and a small stake in wellness for Pierre Fabre. Read these headlines and more in today’s Cheat Sheet.
Wellness Brand Miyé Sells Minority Stake to Pierre Fabre Laboratories: The Frech, female-founded start-up addresses hormonal imbalance, and supports women from puberty to menopause. (Global Cosmetics News)
Sustainability is the Driving Force Behind Innovation at DSM-Firmenich: When sustainability first entered the fragrance realm, it was about little things companies could do easily. Today it has grown into a central tenet of perfumery. (CEW)
A New Opportunity for BIPOC Founders Thanks to Innovative Trifecta: Black Girl Ventures Foundation (BGV), Rare Beauty Brands, and JCPenney have announced the finalists of the 2023 National Beauty Pitch Competition, which invites Black and Brown women founders in the beauty industry to compete for a grand prize that includes a $10,000 grant, retail distribution, mentorship with key executives at Rare Beauty Brands, additional capital from crowdfunding, and more. This year’s winner will be featured nationwide in JCPenney stores and online. (Businesswire)
E.l.f. Reunites with Actress Jennifer Coolidge on New Dirtly Lip Pillows Lip Kit Campaign: The White Lotus actress has collaborated with E.l.f. Cosmetics on the launch of a limited-edition four-piece lip collection. The collab stemmed from an outtake from this year’s earlier advert featuring her (during the Super Bowl no less) where Jennifer was asked what she would name her own lipstick if given the chance, to which she comedically replied “swollen” and “dirty pillows”. (MSN.com)
Target to Close Nine Stores Related to Theft and Organized Crime: The big box chain is part of a wave of retailers – both large and small – that say they’re struggling to contain store crimes that have hurt their bottom lines. Many have closed stores or made changes to merchandise and layouts. (AOL.com)
Leonard A. Lauder to Receive Retail Excellence Award: Beauty’s reigning prince is set to receive the “Retail Excellence Award” for his outstanding contributions to the retail and beauty sectors, along with his philanthropic endeavors in academia, medicine and art. Currently serving as chairman emeritus of The Estée Lauder Companies, the award is being given by the Jay H. Baker Retailing Center at the Wharton School of the University of Pennsylvania and the Retail Leaders Circle. Lauder will receive the award at an Oct. 16 dinner in his honor to be held at the Rainbow Room in New York City. (WWD)