The Brazilian giant will sell the beauty label’s businesses in Central America to consumer goods company Grupo PDC for $22 million.
The high-end specialty retailer has been acquired by US investment firm the Mitchell Family Office, founded by the serial healthcare entrepreneur Mark Mitchell.
The Canadian makeup label declined to name its new owner, but said the partnership would unlock growth through the company’s existing retail network.
Artemis, the Pinault family’s holding company, will not sell its 29 percent stake in Puma at its current market value and is not engaged in negotiations, according to a source with knowledge of the firm’s operations.
Chief executive Sherif Guirgis set the record straight about the company’s acquisitions, and shared his growth plans with The Business of Beauty exclusively.
The Business of Beauty’s executive editor is bringing back her weekly newsletter, and diving into how shifting ideals, new players and cultural movements are transforming the multi-billion-dollar beauty and wellness industries.
The viral skincare brand, popular with Gen-Z for its affordable formulas and trending ingredients, is the latest to join Bansk’s growing beauty portfolio which also includes hair-care line Amika.
The deal comes as South Korea’s cosmetics industry gains global popularity and ranks among the world’s top cosmetics exporters.
The German e-tailer said 700 employees will be impacted by an ongoing restructuring as the company integrates YNAP into its new parent organisation, LuxExperience.
On Wednesday, the American private equity firm announced its minority investment of around $15 million in the London-based distributor which works with buzzy brands such as Ouai, Glow Recipe and Briogeo.
The billionaire Sir Jim Ratcliffe’s Ineos purchased the struggling British motorcycle gear brand for an undisclosed sum.
The maker of affordable products like Slam Dunk Moisturiser and Soft Launch cleanser has hired the investment bank Centerview to explore its growth options, founder Shai Eisenman confirmed to The Business of Beauty.
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.
The Tata Group-owned business beat expectations, shoring up confidence in its fashion business after a period of sluggish performance.
Chasity Monroe has been appointed as the label’s chief executive as it undergoes a wider brand refresh.
The Korean firm and Medicube owner reported third quarter revenue growth of over 100 percent, mostly attributed to the expansion of its skincare range into new markets, channels and product categories.
Celebrity-makeup artist Ash K. Holm will join the “smart” mirror brand for a year-long partnership focusing on guidance and education.
Revenue growth outpaced the previous quarter in the Korean conglomerate’s domestic market, but slowed internationally.