Otherland, a candle maker known for its nostalgic scents, has been acquired by Curio Brands, the parent company of Thymes and Capri Blue. Otherland, a candle maker known for its nostalgic scents, has been acquired by Curio Brands, the parent company of Thymes and Capri Blue. Terms of the deal were not disclosed. Curio Brands, which was established in 1982, is the owner of two home fragrance brands, Capri Blue and Thymes. While both brands have their own direct-to-consumer e-commerce platforms, they primarily distribute their products through wholesale retail channels. According to Anne Sempowski Ward, the CEO of Curio Brands, one of the primary reasons for the acquisition of Otherland was its strong digital presence, which includes a significant social media following. Otherland, founded in 2017, has 82,000 followers on Instagram and 23,000 subscribers on TikTok. Otherland, which was established by Abigail Cook Stone in 2017, produces candles that are sold through major retailers such as Sephora, Nordstrom, and Anthropologie. Its top-selling collections, including "Carefree 90s," "Garden Party," and "Beach," are priced at $36 each, and are renowned for their nostalgic aromas created through a coconut and soy wax blend and a 100% cotton wick. Otherland recently opened its first store in New York City in June 2022. The office is located above the storefront, which provides a convenient location for testing in-store concepts and hosting events. Abigail Cook Stone, the CEO and co-founder of Otherland, stated that the brand's sales had grown by 250% year-over-year since 2020 during this time. However, she did not disclose more recent figures. Otherland's products are also available through Nordstrom and Sephora, and wholesale business accounts for around 15% of the company's revenue. Otherland raised $2.7 million in seed funding in 2019, followed by an undisclosed amount in a Series A round.

Chinese old-established cleaning products manufacturer LONKEY announced divesting its daily chemical business by assets exchange with its controlling shareholder Guangzhou Consumer Goods and Services Group Ltd. Recently, LONKEY announced a major asset swap plan in which it will dispose of its daily chemical assets and acquire park operation assets. According to the announcement, LONKEY plans to exchange its 100% equity in Nansha LONKEY, 100% equity in Shaoguan LONKEY, 100% equity in Liaoning LONKEY, and 60% equity in its daily chemical subsidiary for 60% equity in Xinshicheng held by its controlling shareholder, Guangzhou Consumer Goods and Services Group Ltd (GCGS). The difference will be supplemented by GCGS in cash. The proposed inbound assets are priced at 614 million yuan ($86 million), while the proposed outbound assets are priced at 717 million yuan ($100.43 million). After the transaction is completed, LONKEY will no longer operate its daily chemical business and will transform into a dual main business of food and park operations. In the draft, LONKEY stated that although the Chinese daily chemical market is large and growing, domestic daily chemical brands have a low market share, the industry's entry barriers are low, there are numerous daily chemical companies, product homogeneity is severe, and the market competition is fierce. In addition, the basic research, technical research, and industrial research in the daily chemical industry are seriously disconnected, the overall profit margin is not high, the supply chain is single, and as raw material prices rise, the company's daily chemical sales face significant obstacles, and it will take a long time for the daily chemical business to turn losses into profits. LONKEY's financial data shows that since 2018, reported losses for several years, and in the first half of 2022, its daily chemical product revenue fell by more than 20% year-on-year. In this transaction, GCGS made performance commitments for the inbound assets. With the agreement of both parties, from 2023 to 2025, Xinshicheng's net profit for each year cannot be less than 59.91 million yuan ($8.39 million), 73.95 million yuan ($10.35 million), and 79.87 million yuan ($11.18 million), respectively. If Xinhicheng fails to achieve the net profit amount, LONKEY has the right to notify GCGS in writing to fulfill its performance compensation obligations. The transaction parties also confirmed that the total amount of impairment compensation and performance compensation paid by GCGS to Guangzhou LONKEY shall not exceed the total transaction price of the inbound assets. From a financial data perspective, this transaction is expected to improve LONKEY's financial situation. According to the independent financial advisor report issued by CITIC Securities, LONKEY reported a net loss of 71.546 million ($10.02 million) yuan in 2022, and its asset-liability ratio at the end of 2022 was 58.5%. After simulating the asset swap transaction, LONKEY's asset-liability ratio at the end of 2022 will increase to 68.26%, and its net profit for 2022 will be 155 million yuan ($21.7 million).

Guangdong Bawei Biotechnology Corporation released its Q1 results. The company’s operating revenue in Q1 reached 97.14 million yuan ($13.6 million), saw growth of 44.89%. Net profit reached 7.1668 million yuan ($1 million), with a turnaround compared to 2022 Q1. Recently, Guangdong Bawei Biotechnology Corporation. (Hereinafter referred to as Bawei) released its 2023 Q1 earnings report. As of March 31, 2023, the company achieved operating revenue of 97.14 million yuan ($13.6 million), a year-on-year increase of 44.89%, and a net profit of 7.1668 million yuan ($1 million), with a turnaround compared to a net loss of 8.3973 million yuan ($1.18 million) in the same period last year. Of this, the main business recorded 97.02 million ($13.59 million) in operating revenue. In 2022, Bawei achieved operating revenue of 459.38 million yuan ($64.33 million), a year-on-year increase of 10.54%. Net profit attributable to the listed company shareholders was 38,039,532.84 yuan ($5.33 million), a year-on-year increase of 79%. Public information shows that Bawei was established in 2006, with the current general manager being Leng Qunying. It is a company with full-category cosmetics production capabilities and independent cosmetics testing qualifications. Its subsidiary, Youz Testing, is capable to carry out testing on 5 major categories, including cosmetics, chemical raw materials, flavors and fragrances, cleaning and sterilization products, packaging materials, and products. The testing items include more than 1,400 physical and chemical tests, monitoring of banned and restricted substances, microbiological control, human efficacy evaluation, and in vitro alternative experiments. The testing capabilities have passed CMA, CNAS, cosmetic registration and filing inspection agency qualifications, and special cosmetic human efficacy testing qualifications (including whitening, sunscreen, and hair loss prevention). It is one of the few domestic institutions with three special-purpose cosmetic human efficacy evaluation qualifications. The company has served more than 1,000 cosmetic brand merchants, and during the reporting period, the company has established stable business cooperation with well-known domestic and foreign cosmetic brand merchants such as Unilever, Dove, Lux, HBN, Marubi, Lafang, MISSHA, and others.

Proya Group, the Chinese beauty giant, reported the company’s operating revenue reached 6.385 billion yuan ($928.04 million) in 2022, with an increase of 37.82%. Proya Group, the Chinese beauty giant, announced its 2022 annual report. According to the financial report, in 2022, Proya Group’s revenue reached 6.385 billion yuan ($928.04 million), with an increase of 37.82% compared to 2021, while net profit increased 41.88% to 817 million yuan ($1.188 million). Since Proya Group went public in 2017, Proya Group has achieved double-digit operating revenue growth for five consecutive years, Moreover, not only did Proya Group’s operating revenue exceed the 6 billion yuan ($872.02 million) for the first time, but its flagship brand, Proya, also exceed 5 billion yuan ($726.28 million) for the first time, becoming the top domestic beauty brand in terms of revenue. In terms of brands, the performance of the Proya brand is impressive. Its operating revenue exceeded 5 billion yuan ($726.28 million) for the first time, reaching 5.264 billion yuan ($765.05 million), with an increase of 37.46% compared to 2021. The operating revenue of the color cosmetic brand Timage reached 572 million yuan ($83.13 million), a year-on-year increase of 132.04%. Proya's cross-border agency brand revenue was only 50 million yuan ($7.267 million), down 63.01%. In addition, in terms of product categories, the operating revenue of skin care (including skin cleansing) products reached 5.484 billion yuan ($797.02 million), saw growth of 38.56%, accounting for 86.20% of its total operating revenue. The operating revenue of Make-up cosmetics products was increase by 21.70% to 752 million yuan ($109.29 million), accounting for 11.82% of total operating revenue. From the perspective of channels, Proya Group online channel operating revenue reached 5.788 billion yuan ($839.75 million) in 2022, saw growth of 47.50%, accounting for 90.98% of the total main business revenue. While offline operating revenue reported decrease of 17.62%. Proya stated in the financial report that the company's main business growth in 2022 is mainly due to the relatively high growth of its online channels. Moreover, after completing a remarkable performance in 2022, Proya Group also maintained a steady growth momentum at the beginning of this year. According to its 2023 Q1 report, Proya Group achieved a total operating revenue of 1.622 billion yuan ($839.75 million) in the first three months in 2023, saw growth of 29.27%.

Puig has partnered with King Power International Group to open Penhaligon’s new counter at King Power Rangnam in Bangkok. The opening marks the niche fragrance brand’s first-ever travel retail space in Thailand. Source: Penhaligon's Recently, Puig and King Power International Group have partnered to launch the first-ever retail area for the perfume brand Penhaligon's in Thailand, marking its debut in the country. The 15-square-meter counter is located in the beauty hall of King Power Rangnam store, which is situated in downtown Bangkok, and is surrounded by other luxury and exclusive brands. The retail design of the counter is inspired by the Nile River and its significance in creating a range of fragrances over time. It is also reflected in Penhaligon's signature color. The counter's design merges the brand's architectural elements with its unique color scheme. The counter showcases three popular collections from Penhaligon's - Portraits, British Tales, and Trade Routes. Shortly, the brand's Home and Bath & Body Collection will also be available at the counter. To support the opening of the Penhaligon's counter at King Power Rangnam, Puig has partnered with King Power and the Chinese online payment platform Alipay to conduct a robust digital and social media campaign. The campaign includes the first-ever Alipay Media Buy partnership outside of China, which targets Chinese travelers visiting Thailand and runs throughout June. Kaatje Noens, Puig Executive Vice President Global Travel Retail, said: “The launch of Penhaligon’s in Thailand marks a strategic step in our growth ambitions for the brand and we are confident that consumers in the Thai capital will be captivated by Penhaligon’s unique storytelling. “King Power Rangnam is a world-class shopping destination with an outstanding beauty offer befitting the luxury appeal of Penhaligon’s.” Kaatje Noens added. Nunchanin Viriyatharakij, King Power International Group EVP, Group Merchandising Division, added: “With its compelling brand story, exquisite product offer and beautiful retail activations, Penhaligon’s is an exciting new addition to our exclusive niche beauty offer at King Power Rangnam.”

"Through our fragrances, we want consumers to enter an amazing journey of the senses and experience all of life's most beautiful emotions." Founded in 2020, L'ATELIER Parfum is a young French fragrance brand based in Paris. The brand is called “the creator of emotions”. Each fragrance is dedicated to exploring the infinite emotional power of the user. "There are a thousand Hamlets in a thousand people's eyes." Each consumer has different preferences and perceptions of perfume. How does L'ATELIER Parfum connect with global consumers through emotions? Recently, CHAILEEDO interviewed Masha and Mikolaj, the two founders of L'ATELIER Parfum, to discuss their understanding of emotional perfumes and their views on the fragrance market from in-depth communication. Sales of 10 million euros It is understood that the first product of the L'ATELIER Parfum was released in mid-2021 and was well received by the market as soon as it was sold. "It was a love story," Mikolaj said of the reason the two of them created the brand. "It wasn't a love affair between the two of us." Mikolaj laughed, "Masha and I have been friends for many years and have been working together in the cosmetics industry for many years, and by love, we mean a love and passion for perfume." "Through our fragrances, we want consumers to enter an amazing journey of the senses and experience all of life's most beautiful emotions." Masha further stated. However, the process of creating the brand did not go so smoothly. As we all know, 2020 was in the early stages of COVID-19's development, and almost the entire upstream and downstream ends of the supply chain were hit hard, with varying degrees of shortages in factory production capacity. Fortunately, Mikolaj and Masha were well surrounded by experienced partners from the supply chain to the factories. During the interview, Masha shared a short story: "Special thanks to our subcontractor Stiff for supporting us in production and logistics during those tough times. After learning about our concept, he also invested in our brand." According to Marsha, during the epidemic, the L'ATELIER Parfum brand had a positive service rating of nearly 100 percent service rate, "which is very amazing, especially for a young brand." Thanks to a better consumer reputation, the L'ATELIER Parfum achieved sales (equivalent to retail) of 10 million euros during the 2022-2023 fiscal year (April 1, 2022 - March 31, 2023). (Credit: two founders of L'ATELIER Parfum) A good storyteller is the key to success So, how did L'ATELIER Parfum achieve such a remarkable market performance? Mikolaj stated that although the language spoken in each country is different, everyone is able to read emotions and the emotion when smelling a perfume is something that can resonate with consumers around the world across languages. Masha also said that emotion is an important factor for consumers when buying perfume. "People's emotions are all connected, so I think it's very easy to communicate emotionally. So we are not crafting perfumes, we are crafting emotions. After the consumer understands our brand story, our fragrances create a very strong connection with the consumer." "Communicating our brand story to the consumer is also key to success." He shared, "BAs who sell our products also share the emotions they personally feel when using the fragrance. So, we don't need BAs to mechanically recite our brand story, just have them try the fragrance and say how the fragrance inspired them." We understand that several world-class master perfumers are currently working with the L'ATELIER Parfum brand and designing fragrances. "The perfumers we work with are very much in tune with the brand's philosophy, which is why they worked with us at the very beginning of our brand," Mikolaj said. The master perfumers who have worked with L'ATELIER Parfum include ALEXIS DADIER, who has designed fragrances for Jo Malone and Valentino, and SERGE DE OLIVEIRA, who has worked for Chloé, Atl. Oblique and Lalique. When talking about L'ATELIER Parfum fragrances, Mikolaj also shared his personal favorite fragrance series - Secret of Garden. He said the fragrances in the series come in seven colors, corresponding to the seven colors of the rainbow. When users smell the fragrances of the collection, L'ATELIER Parfum hopes to transport them to the scene of walking through a fragrant garden. The seven fragrances also represent seven emotions such as passion, confidence and pleasure. (Credit: one of fragrance series of L'Atelier Parfum) In complete respect for nature, L'Atelier Parfum selects premium natural ingredients from France and around the world. For this reason, the brand chose to work with the Robertet family house in Grasse, an institution with over 170 years of excellence and unique expertise. Based on this philosophy, L'Atelier Parfum's fragrances are formulated with up to 95% natural ingredients, and Masha believes that the younger generation of consumers is particularly interested in clean beauty and zero cruelty, which is very much in line with the brand's founder's philosophy, "L'Atelier Parfum's fragrances do not add any synthetic dyes, endocrine disruptors, irritants or pollutants." Mikolaj told CHAILEEDO that L'Atelier Parfum fragrances are currently available in over 400 physical stores in more than 25 markets, and have been entered in such prestigious international distributions as Bloomingdale's, a leading U.S. department store, Harvey Nichols, a British premium department store, LVMH's high-end beauty retailer Sephora and many others. In Hong Kong Sephora, L'Atelier Parfum fragrances have achieved bright results. According to Mikola, in the past May, L'Atelier Parfum was ranked No. 2 in Sephora's fragrance category, and Coeur de Pétales (Heart of Petals) was nominated for Sephora's Best Fragrance category. "10 bottles of L'Atelier Parfum perfume are sold per day in Sephora Hong Kong." It will enter Tmall Global this year CHAILEEDO data showed that the Chinese fragrance market is expected to grow at a CAGR of 22.5% during 2021-2025, far exceeding the global fragrance market's CAGR of 7%. The size of the Chinese fragrance market is expected to reach 20.7 billion yuan in 2023. By 2025, the Chinese fragrance market is expected to reach 30 billion yuan in retail sales, and is expected to become the second-largest market in the world. Despite the huge potential of the Chinese market, Chinese consumers' fragrance habits are different from those of European and American consumers, L'Atelier Parfum is also aware of this, Masha said, first, Chinese consumers and European and American consumers like different fragrance notes. For example, European consumers prefer cologne, and sweet sense, while Asian consumers prefer floral notes. Masha explained that L'Atelier Parfum's best-selling fragrance in Sephora in Hong Kong is Coeur de Pétales (Heart of Petals), the main note of which is floral. Secondly, Chinese consumers' perfume habits are also different from those of European and American consumers. Masha said that the perfume penetration rate of Chinese consumers is only 6%, which is low compared with 50% of European and American consumers. However, Chinese consumers prefer more unique and niche scents in perfume selection, especially the younger generation of Chinese consumers, who want to express their own personality through perfume. L'Atelier Parfum fragrances are linked to different emotions of each individual with each fragrance. Therefore, Mikolaj feels that L'Atelier Parfum fragrances meet this demand of Chinese consumers. Based on this trend, the Chinese market will be the focus of L'Atelier Parfum's efforts in the future. "We want China to be one of our key markets and its potential is absolutely huge. I think that L'Atelier Parfum has created a beautiful brand story and brand DNA, which is an important factor to make a fragrance brand in China." Mikolaj stated. As a first step for the overseas brand to enter China, L'Atelier Parfum will open a store in Tmall Global in 2023 and enter the offline channel in mainland China in 2024. Mikolaj is very excited about coming face to face with Chinese consumers, the most sophisticated consumer group, "We are very excited about our upcoming arrival in China and we have been waiting for a long time for this project. Now, we think that we have momentum." For the future development plan of the brand, Mikolaj said, "The brand image for each market still needs to be strengthened, and also needs to increase consumer awareness of the brand." It is understood that the two founders are currently preparing for a new collection of L'Atelier Parfum and are also planning to expand into new categories such as home fragrances. Notably, L'Atelier Parfum's first offline boutique will open in the heart of Paris. In the future, Mikolaj hopes to bring offline boutiques to Beijing and Shanghai in China.

Santa Maria Novella, the Florence-based perfumery and cosmetics brand, has partnered with Harrods, one of London's most iconic department stores, to strengthen its retail presence in London. Santa Maria Novella, the Florence-based perfumery and cosmetics brand, has partnered with Harrods, one of the world's leading luxury department stores, to strengthen its retail presence in London. The brand, which operates two stores in London - one in Piccadilly Arcade and another in Walton Street - will now occupy a space on the ground floor of Harrods, alongside the store's beauty department, featuring its signature Florentine wood and marble interiors. Gian Luca Perris, the Chief Executive Officer of Santa Maria Novella said: “Harrods is one of the leading luxury department stores in the world. It’s a milestone for Santa Maria Novella to enter this space, to reinforce the retail presence in London and increase our brand awareness within the London customers and all international clients visiting Harrods.” Gian Luca Perris also stated that Harrods is a symbol of London, just as Santa Maria Novella is a symbol of Florence and Florentine craftsmanship. He believes that people who step into Harrods expect to find the finest and most premium brands, and Santa Maria Novella is a brand that they should discover during their visit. Santa Maria Novella can trace its origins back to 1221 when it was founded as a convent for Dominican friars. Today, it is considered the oldest pharmacy in the world and continues to operate in the same location where it all began. The legacy of its apothecary art spans eight centuries and is closely connected to the history, personalities, and social fabric of Florence, creating a magical blend of stories and wonders that is constantly renewed. Nowadays, Santa Maria Novella provides a wide range of over 600 products, including skincare, soaps, pomades, colognes, candles, ambient fragrances, and liqueurs. All its products are packaged in its signature old-school packaging, which is instantly recognizable. In Jan 2023, Santa Maria Novella opened its first concept store in Hong Kong Harbour City. Source: WWD

Harbin Fuerjia Technology Co., Ltd. has moved one step closer to going public as the China Securities Regulatory Commission announced on June 8 that it has given its approval for the company's initial public offering. On June 8th, the China Securities Regulatory Commission (CSRC) announced on its official website that it has approved the registration application of Harbin Fuerjia Technology Co., Ltd. (referred to as "Fuerjia") for its initial public offering (IPO) and listing on the ChiNext board. This means that after nearly two years of trying, Fuerjia has finally obtained official approval, and the A-share market will have one more cosmetics company listed. According to Fuerjia's previous prospectus, from 2020 to 2022, Fuerjia's revenues were 1.585 billion yuan ($222.76 million), 1.65 billion yuan ($231.84 million), and 1.769 billion yuan ($248.64 million), respectively. Net profits were 648 million yuan ($91.07 million), 806 million yuan ($113.27 million), and 847 million yuan ($119.04 million), while non-GAAP net profits were 477 million yuan ($67.04 million), 774 million yuan (108.78 million), and 766 million yuan ($107.65 million). While according to the review report issued by Da Hua CPAs LLP, Fuerjia achieved operating revenue of 373 million yuan ($52.35 million) in the first quarter of 2023, a year-on-year increase of 5.38%, and a net profit of RMB 159 million ($22.32 million), down 1.42%. In terms of sales channels, Fuerjia's online channels are divided into direct sales, distribution, and agency sales. Although it has been vigorously laying out e-commerce channels in recent years, offline sales remain its main method. It is worth mentioning that during this year's 618 promotion, several Fuerjia masks entered Li Jiaqi's live broadcast room. According to Tmall's 5.26 4-hour presale results on that day, Fuerjia ranked second in the home appliance presale list. It is worth noting that, according to the prospectus, in 2022, Fuerjia's functional skincare products accounted for 51.05% of its cosmetics sales, exceeding 50% for the first time. During the reporting period, Fuerjia's cosmetics revenue was 705 million yuan ($99.08 million), 722 million yuan ($101.47 million), and 903 million yuan ($126.91 million), accounting for 44.46%, 43.75%, and 51.05% of the total revenue, respectively. In terms of product structure, at present, Fuerjia has 46 types of cosmetic products, far more than the number of medical device products, and among the cosmetic categories, masks are its core products. In addition, Fuerjia also stated in its prospectus that based on research on sodium hyaluronate and collagen, the company has formed a three-dimensional product system with Class II medical device products suitable for mild to moderate acne and promoting wound healing and skin repair as the main focus, supplemented by various forms of functional skincare products. Public information shows that Fuerjia is a company engaged in researching, developing, producing, and selling professional skin care products. Its products cover medical device class dressings and functional skincare products, focusing on dressings and patches, film products, and launching water, essence, lotion, spray, freeze-dried powder, and other products.

It is reported that the beauty and cosmetic market in India is expected to reach $20 billion by 2025. Recently, skincare brand Paula's Choice announces that its new shopping site is now live in the Indian market with a special offer of a 15% promotion on products across the platform with a subscription to the website newsletter. The brand stated that in its Indian shopping site, it segmented for different skin concerns to enable shoppers to find the right products for their skincare goals. CHAILEEDO found four categories for products are available in the site, namely skin care, skin concern, skin type and ingredients. CHAILEEDO found three products featured on the website's homepage, all three of which are popular products from Paula’s Choice - 2% BHA Liquid Exfoliant, 10% Niacinamide Booster, and Niacinamide 20% Treatment. (Credit: from Paula's Choice website) Paula Begoun, the founder, previously said "Once people feel comfortable turning to the internet, once they see the pleasure in it and how some sites do it better than others—and I think we do skincare better than others, especially in terms our content—why go back?" For the launch of the Indian e-store, the brand said it will plan to further expand its digital presence in India by enabling shoppers to access products in a virtual environment. Valued at US$2 billion According to public information, Paula Jane was founded by its founder Paula Begoun in 1995. long before formulating her own products, she was a consumer Long before formulating her own products, she was a consumer struggling with acne & eczema, desperately trying to find products that wouldn't make her skin worse. Then it evolved into a mission to unveil the truth and learn the facts about skin and skin care. With her 40 years of experience in the cosmetics industry, combined with her outspoken, love-hate personality, she became one of the first influencers and the first ingredient-centric advocates in the US. In Paula's videos, she is known as the 'cosmetic cop' for her in-depth analysis and sharp commentary on cosmetic ingredients. (Credit: Paula Begoun, founder of Paula's Choice) It is understood that Paula's Choice products are always made with natural ingredients, no animal testing, and no ingredients that could be harmful to the skin, such as alcohol or talc. Paula's Choice products were initially sold online as a direct-to-consumer model, before entering the offline Sephora channels, and was one of the first beauty brands to use the DTC model. Erika Kussmann, Paula's Chief Marketing Officer, has mentioned in an interview with WWD that Paula Jane's is the largest DTC skincare brand in the US. In 2021, Unilever acquired Paula's Precious from TA Associates, a US-based private equity firm. The exact amount of the deal was not officially disclosed, but is estimated to be around $2 billion, according to speculation by European and American industry insiders. The deal was completed in the 3rd quarter of 2021. At the time of the acquisition, Vasiliki Petrou, executive vice president and CEO of Unilever, said: "We are thrilled that Paula’s Choice will join our Unilever Prestige family. Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience." Following the acquisition, it is clear that Paula’s Choice has been growing, although Unilever did not announce specific turnover in its financial report. According to Unilever's 2022 financial report, Paula’s Choice successfully entered Sephora in 2021, continuing its growth in the DTC channels. Paula’s Choice launches into $20-billion market According to Quartz, the local beauty business is growing at hyper speed as India's youth, internet user population is growing exponentially and cosmetic brands are rapidly sinking their channels outside the big cities. A report from Assocham, 'India's Pharmacy, Cosmetics and Personal Care Market', highlights that the domestic personal care products market in India is expected to grow at a CAGR of around 22% during the period 2017-2020. According to this report, the beauty and cosmetic market in India is expected to reach $20 billion by 2025. Meanwhile, the potential for beauty e-commerce in India remains huge, with the country's beauty and personal care industry expected to grow by 3.86% per year, with sales increasing by 143% year-on-year, according to Statista. By 2025, the industry's online sales channel is expected to grow by 18.2%. (Credit: data from Statista) And, DTC beauty brands are becoming increasingly popular among Indian consumers, with homegrown DTC brands in India including Bombay Shaving Company, Sugar Cosmetics and MyGlamm. According to Bombay Shaving Company's FY2022 financial results, Bombay Shaving Company's operating revenue soared 2.7 times to INR 99.93 Cr ($12 million) in FY2022 from INR 37.7 Cr ($4.6 million) in the previous fiscal year. Sugar Cosmetics also received a $50 million investment from L Catterton in May 2022. According to publicly available information, Paula's Choice was entering the Indian market in 2019. Prior to the launch of its DTC website this time, the brand's products were already available on e-commerce platforms such as Myntra and Amazon in the Indian market. With this trend, Paula’s Choice, the largest DTC brand in the US, may also want to capture the Indian e-commerce market by further improving its Indian e-marketplace this time. Unilever, as its parent company, has also long deployed the Indian market. Sanjiv Mehta, chairman of Unilever India, has said that India has the potential to achieve a high GDP growth rate of around 10 per cent and be a USD 10 trillion economy in the next 12 to 15 years Moreover, Unilever's listed subsidiary in India, HUL is one of the largest and highest market capitalisation FMCG companies in India, dominating the generic categories of hair care, bath and oral care. Nine out of every 10 Indian households use Unilever products. In the financial year ending 31 March 2023, For the fiscal year 2021-22, HUL generated Rs 11,684 crore in cash from operations. On a standalone basis, it generated a turnover of Rs 50,336 crore clocking a 11 per cent growth. Unilever's brand Lakmé, the largest cosmetics brand in India, saw its revenue increased 19.3 per cent to Rs 328 Cr ($39.7 million) in FY23. With the increasing demand for beauty products in the Indian market, Unilever is also aggressively expanding its presence in the Indian market through various channels. The launch of Paula's Choice online store may leverage its global recognition and reputation to gain a competitive edge in the Indian market.

An advertisement by P&G promoting its hair removal device Braun Silk-expert IPL has been banned by the British watchdog Advertising Standards Authority due to a misleading claim for permanent visible hair removal. An advertisement by P&G promoting its hair removal device Braun Silk-expert IPL (intense pulsed light) has been banned by British watchdog Advertising Standards Authority (ASA) due to a misleading claim for permanent visible hair removal. The advertisement claimed, "permanent visible hair removal" and "visible hair removal that's here to stay." The ASA determined that viewers would interpret these statements, especially the terms "permanent" and "removal that's here to stay," to mean that using the product would result in long-lasting hair removal by eventually preventing any regrowth. Procter & Gamble claimed that their IPL devices released light energy that was absorbed by the melanin pigment in hair, which heated the hair follicles and halted the hair regrowth cycle. They acknowledged that there was no established industry standard in the UK for determining permanency in hair removal but referred to the dictionary definition of "permanent" as meaning "enduring for a long time or indefinitely." Braun clarified that their product was also marketed in the United States, where it was classified as a medical device and subject to rigorous testing standards. As a result, they adhered to the definition of permanent hair reduction set forth by the Food and Drug Administration (FDA). Braun provided data from a clinical study that they claimed supported their assertion of permanent hair removal according to the definition set by the FDA. They argued that the inclusion of the word "visible" made it clear to consumers that the claim pertained only to hair on the surface of the skin. They clarified that no light-based method, whether used at home or in a salon, could remove hair permanently since it only interrupted the hair regrowth cycle, and hair would eventually grow back due to hormonal changes and other factors. They also noted that their money-back guarantee demonstrated their confidence in customer satisfaction. ASA said: “We acknowledged that Braun intended, by including the word “visible”, for the claim to mean that only the visible hairs above the skin’s surface would be permanently removed, and to highlight that repeated applications would be needed on an ongoing basis to capture hairs in that active phase of their growth cycle,” “However, we considered that consumers were likely to interpret the claim to mean that hair removal would be permanent and visible (meaning the effect would be noticeable), rather than permanent only about the visible hairs above the skin’s surface. Because the claim “permanent visible hair removal” was likely to be interpreted to mean that after a number of repeated applications, consumers would achieve long-lasting hair removal by eventually stopping all hair regrowth in the treatment area, and the evidence provided did not show that was the case, we concluded that it had not been substantiated and was misleading.” ASA added.

BASF announced that the company has named Gisela Pinheiro as head of the business unit Personal Care Europe and as the new Managing Director of BASF Personal Care and Nutrition GmbH, effective June 1, 2023. BASF has announced that Gisela Pinheiro will take over as the head of the business unit Personal Care Europe and the new Managing Director of BASF Personal Care and Nutrition GmbH, effective from June 1, 2023. Pinheiro will be succeeding Tatiana Kalman, who has held these positions since 2022 but is leaving the company at her own request. Gisela Pinheiro has a master’s degree in business administration from IBMEC Business School in São Paulo, Brazil, as well as a degree in economics from Northern Michigan University in the United States. Before her current position, Gisela Pinheiro served as Senior Vice President at BASF's Care Chemicals division, where she was responsible for global key account management, the global business unit for detergent enzymes, global strategic marketing, supply chain, and IT. Gisela Pinheiro began her career as a consultant at Ernst & Young in São Paulo, Brazil. She then spent 14 years at Dow Chemicals in Brazil and the United States In 2017, she joined BASF as Vice President of Functional Materials and Solutions for South America. In 2019, she took on the role of Vice President of Global Key Account Management at BASF's Care Chemicals division in Ludwigshafen, Germany. She was promoted to Senior Vice President in April 2022 and assumed additional responsibilities in her current role. Gisela Pinheiro said: “I am determined to ensure a smooth transition for our customers and my team alike. The whole industry is facing challenging times, and I am very much convinced that we have the right people and mindset to overcome all hurdles and steer into a successful future.” BASF's Personal Care business in Europe is based in Monheim, Germany, which is located near Duesseldorf. The city is home to BASF's third-largest site in Europe, which is also the world's largest and most significant site for the production and development of cosmetic ingredients. Source: BASF

LONKEY, the Chinese old-established daily chemical announced its chairman Zhao Biqiu submitted a resignation report to the company's board of directors due to reaching the statutory retirement age. On of June 6th, LONKEY INDUSTRIAL CO., LTD.GUANGZHOU (hereinafter referred to as LONKEY) announced that Mr. Zhao Biqiu, Chairman of the company, submitted a resignation report to the company's board of directors due to reaching the statutory retirement age. He resigned from the positions of director and chairman of the 10th Board of Directors, as well as the positions in the strategic committee, remuneration and assessment committee, and nomination committee of the Board of Directors. However, he will still serve as the secretary of the company's party committee. LONKEY stated that since Mr. Zhao Biqiu became the chairman of the company in June 2019, he has been conscientious, prudent, and diligent in his duties. On the one hand, he has been committed to resolving the company's major trade risk issues, promoting the company's completion of the judicial reorganization, and putting LONKEY Company back on track. On the other hand, he actively promoted the company's private placement and asset replacement, strengthened the company's high-quality development, and played a positive role in regulating the company's corporate governance structure and improving the company's governance level. He has made due contributions to the company's operation and development with dedication and diligence. LONKEY was founded in 1959 and was formerly known as Guangzhou Hard Oil Plant. It is one of the oldest detergent production enterprises in South China. The company’s products include fabric textile care, kitchen cleaning products, home care cleaning products, personal care products, and industrial cleaning products. On May 13th, LONKEY announced in a statement that its controlling shareholder, Guangzhou Consumer Goods and Services Group Ltd, plans to exchange no less than 51% of the shares held directly or indirectly by Guangzhou Xinshicheng Enterprise Development Co., Ltd. (referred to as "Xinshicheng") with LONKEY’s daily chemical assets, including the entire share capital of Guangzhou LONKEY Daily Necessities Co., Ltd, Shaoguan LONKEY Co., Ltd and Liaoning LONKEY Industrial Co., Ltd, as well as the 60% equity of Guangzhou Daily Chemical Industry Research Institute Co., Ltd. After the completion of the transaction, LONKEY will hold a controlling stake in Xinshicheng, which operates several creative parks in Guangzhou, including T.I.T Creative Park, where WeChat's headquarters is located. At the same time, LONKEY will completely divest its daily chemical business and focus on food, as well as park development and operation in the future.