It was a wild holiday weekend for those lucky enough to attend Beyoncé’s birthday concert in LA, or unlucky enough to be stuck in the mud at Burning Man. The long weekend also didn’t dull the beauty news cycle, with Walgreens’ CEO stepping down, Kylie Jenner allegedly looking to break from Coty, and L’Occitane walking back from a supposed privatization deal, a move that’s caused the company’s Hong Kong-listed shares to drop 30% this morning. You can read these stories and more — including our Q4 beauty market trend predictions — in the links below.
Fragrance Dupes, Trading Down, Treat Mindset: Trends Poised to Influence Q4 as Beauty Heads into Holiday. We look at the industry trends — from consumer shopping behaviors and top categories, to the effects of TikTok’s forthcoming shopping platform on traditional retailers — and how that will shape the market during the holiday gifting season. (CEW)
L’Occitane Shares Shed 30% After Owner Shelves Take-Private Deal. Chairman and controlling shareholder, Reinold Geiger, decided not to proceed with a deal to take the company private this morning, a decision that caused the Hong Kong-listed skincare brand’s stock to drop 30 percent. (Business of Fashion)
Kylie Jenner Has Explored Buying Back Coty’s $600 Million Stake in Her Makeup Brand. Old news, but big news: according to Bloomberg, Jenner wants to buy back the 51 percent stake of Kylie Cosmetics from Coty because she’s allegedly frustrated over how the brand has been managed. (Bloomberg)
Merit Beauty Owes Its Viral Eyeshadow Launch to Simplicity. The new launch garnered the brand’s largest-ever waitlist and a massive response on TikTok, with zero ad dollars behind it. Aila Morin, Merit’s SVP of brand, growth, and innovation believes the launch has been successful because they understood their customer and kept things simple, from the marketing to formulation. (Glossy)
Rosalind Brewer Steps Down as Walgreens’ CEO and Member of the Board. Brewer was the first Black female CEO of the Chicago-based retailer and one of just two Black female CEOs to lead a Fortune 500 company. (CEW)
