SEP 11-12, 2024

2023 Beauty Insights- 4th Edition

LVMH announces Philippe Farnier as Global Executive Vice President of Dior Beauty and Fragrances. After taking office, Philippe Farnier will be responsible for Dior perfume beauty makeup in various global markets and travel retail channel business, and will report to Véronique Courtois, CEO of Dior fragrance beauty makeup.

On March 24, L’Oreal China High-end Cosmetics Intelligent Operation Center announced Nantong as its next station. The intelligent operation center plans to break ground in 2024 and put into operation in 2025. It plans to cover an area of about 45,000 square meters and will be equipped with world-leading logistics and robotics technologies.

On March 22, the State Drug Administration released the “2022 National Cosmetics Supervision and Sampling Annual Report”, and the overall pass rate of cosmetics was 97.6%.

Overall, the pass rate of freckle removal and whitening is the highest at 99.9%, and the pass rate of hair dyeing is only 90.6%.

The luxury skin care brand “House of M Beauty” has received $2 million in seed round financing, which was raised by female angel investors in the Vietnamese-American community and will be used to expand brand influence, establish partnerships, and promote marketing public relations , and launching new products.  With this $2 million in funding, House of M Beauty aims to bring its total funding to $5 million by the time the seed round closes.

On March 27th, it was reported that luxury giant Gucci announced a monetary partnership with Yuga Labs. This cooperation aims to “explore the interaction between fashion and entertainment in the Metaverse and expand the interaction between the communities under the two companies.”

Acqua di Parma, a brand owned by LVMH, announced that it has appointed Giulio Bergamaschi as its new CEO. It is reported that Bergamaschi graduated from Bocconi University in Milan in 2004 and joined L’Oreal in the same year. In 2013, he was promoted to general manager of L’Oreal Paris DMI China. In November 2018, he became the global brand president of Biotherm.

On March 22, Kohl’s department store in the United States stated that it will open 250 Sephora sales points and 50 small-scale Sephora stores in its stores in 2023, and expand Sephora sales points to all stores in 2025. According to Kohl’s Department Store, Sephora’s annual sales at POS will reach $2 billion in 2025.

French luxury brand Dior announced the promotion of Olivier Bialobos as deputy managing director, who will be responsible for global communication and image work. According to relevant information, Olivier Bialobos once led Yves Saint Laurent’s fashion and beauty communication strategy with Tom Ford.

Tattoo skin care brand Mad Rabbit announced the completion of a $10 million Series A round led by Lucas Brand Equity, followed by Mark Cuban, HVenture Partners and other well-known investors. It is reported that Mad Rabbit was established in 2021 and received a $500,000 investment from Mark Cuban when it debuted in “Shark Tank”. Since then, Mad Rabbit’s reputation has soared, and sales have skyrocketed by 138% within a year.

According to Deal Reporter, the Brazilian beauty giant Natura&Co’s sale of its beauty brand Aesop has started the second round of bidding. Strategic bidders include L’Oreal, Shiseido, LVMH and L’Occitane, with quotations ranging from US$1.5 billion to US$2 billion (approx. RMB 10.4 to 13.9 billion).  According to another source, private equity groups such as Blackstone, KKR and CVC Capital are also interested in acquiring Aesop.