SEP 11-12, 2024

2023 Beauty Insights- 11th Edition

Sephora’s Indian business changes hands! The Reliance Retail group will now operate the various stores of the LVMH group’s subsidiary, which were previously run by Arvind Fashions. India is increasingly perceived as beauty’s new growth hot spot, with a growing presence of major international players.

La Roche-Posay recently launched its latest global initiative, Fight With Care, to shed light on the adverse skin effects of cancer treatment, a concern faced by more than 80 percent of cancer patients. These side effects encompass itching, burning, scars, severe dryness, as well as implications for hair and nails. The initiative has been founded on extensive research involving more than 11,000 patients, with a dedicated emphasis on comprehending the impact of cancer treatment on the skin.  The campaign aligns with La Roche-Posay’s mission to go beyond skincare by advocating, educating, and financially supporting holistic, supportive care.

In recent years, Lush has been focused on increasing brand awareness, particularly after discontinuing its presence on major social media platforms in late 2021. Lush has now announced it is changing its distribution strategy in North America through a wholesale partnership with Ulta Beauty. This collaboration is a first for Lush and is part of its expansion plans, with more than 30 new retail locations on the horizon. Ulta’s strong digital capabilities make it an ideal partner and will allow Lush to expand its reach.

Natura & Co continues to make waves in the beauty and retail industry as it actively explores the potential sale of its subsidiary, The Body Shop, a renowned British brand specializing in cosmetics, skincare, and fragrances. This move comes hot on the heels of Natura & Co’s sale of the Australian luxury brand Aēsop to L’Oréal in a monumental deal valued at $3.7 billion (US$2.5 billion).

Recent research by Dove and Nike has shed light on the alarming trend of 45 percent of teenage girls globally dropping out of sports, a rate twice as high as boys, largely due to low body confidence. In response, Dove has partnered with Nike to introduce the Body Confident Sport online coaching program. The program, developed over two years in collaboration with experts such as the Centre for Appearance Research (CAR) and the Tucker Center for Research on Girls & Women in Sport, provides coaching tools to enhance the body confidence of 11–17-year-old girls.

L’Occitane has unveiled a robust financial performance for the first half of its 2024 fiscal year, with total net sales surpassing €1 billion ($1.8 billion). This achievement represents an impressive increase of 18.5 percent at reported rates and a remarkable 24.9 percent growth at constant rates, with a significant portion of this success attributed to the exceptional performance of Sol de Janeiro and the continuous expansion of L’Occitane en Provence, particularly in the resurging Chinese market.

Lancôme‘s Hapta, a smart makeup applicator designed for individuals with limited arm mobility, has been acknowledged in TIME Best Inventions 2023 for accessibility. The device, which debuted at CES 2023, empowers people with limited arm mobility to independently apply makeup with precision and ease. By catering to those facing dexterity challenges, Lancôme Hapta (which translates to science of touch) by L’Oréal takes a significant step towards a more inclusive beauty industry.

On October 26, Unilever released its financial results for the first three quarters of 2023. Results show that in the first three quarters, Unilever’s turnover was 45.8 billion euros (about RMB 354.13 billion), up 0.4% year-on-year. In the third quarter, Unilever’s turnover was 15.2 billion euros (about RMB 117.52 billion), down 3.8% year-on-year. Unilever said underlying price growth continued to slow as inflation moderated, with the Beauty and health, personal care and home care segments now seeing positive underlying volume growth.

Lancôme, a L’Oréal-owned brand, is making significant strides in the Latin American spa market by establishing its first-ever spa in São Paulo. The Lancôme Absolue Spa in São Paulo, a creation of Brazilian architect Patrícia Anastassiadis, is nestled within the opulent Palácio Tangará hotel, which is under the management of the Oetker Collection. Known for its luxurious properties, the Oetker Collection collaborates with renowned spa brands such as Guerlain, Dior, and La Prairie in some of its locations.

Global consultancy Kearney and Luxasia, one of the largest distributors of luxury beauty in Asia Pacific, recently released a whitepaper titled “Unlocking hyper-growth in Asia’s luxury beauty landscape”. According to the report, Southeast Asia and India are poised to witness the next “gold rush” in luxury beauty, reaching a market potential of USD 7.6 billion by 2026, almost tripling in size within 10 years, with a projected 11% CAGR between 2021 and 2031.