Elizabeth Arden, a beauty brand known for its innovative approach to beauty, has unveiled its inaugural immersive virtual store. This unique shopping experience was developed in collaboration with Obsess, a leading experiential e-commerce platform. Elizabeth Arden, the Revlon-owned beauty brand, has launched a virtual store in collaboration with experiential e-commerce platform Obsess, that allows customers to browse, play games, and make purchases. The Elizabeth Arden virtual store provides an interactive experience that showcases the brand's history through engaging content and images that highlight the story of its trailblazing female founder, her contributions to the beauty industry, and the brand's evolution over time. In the virtual spa room, visitors can participate in quizzes and gaming activities that aim to educate them about Elizabeth Arden's skincare products and help them find the best regimen for their skin type. Additionally, shoppers can play games and explore the newest product launches, such as the Advanced Light Ceramide Capsules, which are prominently featured in the store's ceramide product section. “Elizabeth Arden has been a leading beauty industry innovator for the past 120 years and we are thrilled to launch our first metaverse shopping experience in partnership with Obsess,” said Martine Williamson, Global Chief Marketing Officer. “We are truly operating as an omnichannel business to evolve our customer experience and engage a whole new generation of shoppers about our products and legacy through digital storytelling.” Obsess is a leading experiential e-commerce platform that allows retailers to build immersive, branded, and discovery-focused virtual stores on their websites. The company's goal is to revolutionize the traditional e-commerce shopping interface by transforming it into a dynamic, interactive, gamified, social, and highly engaging experience. Obsess is headquartered in New York City and has offices in Europe and Asia. “We are honored to work with Elizabeth Arden to bring the brand’s cult products and inspiring heritage to life through an immersive virtual shopping experience for the first time,” said Neha Singh, Founder, and CEO of Obsess. “This virtual store experience will delight the brand’s customers with one-of-a-kind interactive content and provide new ways for shoppers to discover, learn about, and shop for Elizabeth Arden’s industry-leading skincare, makeup and fragrances.”

Yatsen has published its financial results for Q1 2023, revealing net revenue of 765 million yuan ($109.31 million) and a net profit of 50.7 million yuan ($7.24 million). This is the second quarter in a row that the company has achieved profitability after going public. Yatsen released its financial report for the first quarter of 2023. During the reporting period, Yatsen's net revenue reached 765 million yuan ($109.31 million), with a net profit of 50.7 million yuan ($7.24 million). This marks the second consecutive quarter of profitability after going public. In addition, the financial report showed that Yatsen's skincare business achieved net revenue of 245 million yuan ($35.01 million), an increase of 34.2% year-on-year. As a result, this segment has maintained a level of over 30% of total net revenue for four consecutive quarters. It is worth mentioning that in the fourth quarter of 2022, Yatsen achieved a net revenue of 1.01 billion yuan ($144.31 million), with a non-GAAP net profit of 34.68 million yuan ($4.96 million) and a net profit margin of 3.4%, marking its first profitable quarter since going public. Not only did net profit increase, but the company's gross profit margin also improved significantly during the same period. The financial report showed that in the first quarter of 2023, Yatsen's gross profit margin was 74.3%, up 5.3% year-on-year. On the other hand, the company's cost control strategy has achieved significant results. For example, in operating expenses, in the first quarter of 2023, Yatsen's total operating expenses decreased from 920 million yuan ($131.45 million) in the same period last year to 580 million ($82.87 million), a year-on-year decrease of 36.7%. At the same time, Yatsen's operating losses continued to narrow, falling from 308 million yuan ($44.01 million) in the same period last year to 7.15 million yuan($1.02 million). Focusing on the quarterly financial report, the skincare business has become the focus of Yatsen's strategic transformation and has become the company's second growth curve. During the reporting period, Yatsen's skincare business achieved net revenue of 245 million yuan ($35.01 million), a year-on-year increase of 34.2%, maintaining a level of over 30% of total net revenue for four consecutive quarters. Among them, the combined net revenue of the high-end skincare brand Galenic, the functional skincare brand DR.WU, and the luxury skincare brand EVE LOM grew by 59% year-on-year in the first quarter. To boost the development of the skincare business, the company accelerated the research and development of new products in the first quarter, empowering the competitiveness of each brand's products. For example, during this year's "38" festival, EVE LOM successfully launched the Renewal Treatment Oil, holding new product launch events in London, New York, and Miami. It is reported that the product is currently exclusively available for offline use in China. In addition, DR.WU has launched the DR.WU Acne Research Fund to help the brand continue to penetrate the acne market.

Beyoncé, the Grammys winner, shared a series of photos on her Instagram account on Tuesday that hinted at the launch of a new hair care brand. Instagram/@beyonce Beyoncé, the Grammys winner, posted a set of pictures on her Instagram account on Tuesday which seemed to suggest that she might be launching a new hair care brand. The photos included an image of her holding a heat tool in front of a dressing table, a childhood picture of her getting her hair braided, and a handwritten message. In a photograph of Beyoncé showcasing her naturally curly hair, there are various tester bottles with temporary labels scattered across her dressing table. It has been speculated that these tester bottles could potentially be products from Beyoncé's upcoming beauty brand. “How many of ya’ll know that my first job was sweeping hair in my mama’s salon?” Beyoncé writes in a note included on the last slide of her post that her first job was sweeping hair in her mother's salon, where Destiny's Child initially performed for clients while they were getting their hair done. Beyoncé said she was inspired by the entrepreneurial women she saw in the salon and how they nurtured and celebrated hair, which she believes can directly impact our souls. Beyoncé was impressed by how her mother healed and served so many women and wants to carry on her legacy. “I’ve always dreamed of carrying on her legacy I can’t wait for you to experience what I’ve been creating,” Beyoncé added in the note.

China Old-established daily chemical company Qijia Detergent issued a risk alert announcement regarding the possibility of being delisted and suspended from trading due to consecutive losses in recent years, as well as difficulties in production and operation. On May 17th, Anhui Qijia Detergent Products CO., LTD issued a risk alert announcement regarding the possibility of being delisted and suspended from trading. According to the announcement, the reason for the possible delisting is due to the company's consecutive losses in recent years, as well as difficulties in production and operation, a large funding gap, and personnel losses, which have led to significant uncertainty in its continued operations. As of now, the company's stock has been suspended from trading since May 4th, 2023, because it was unable to pay the audit fees and lacked the necessary financial personnel to cooperate with the audit work, failing to disclose the 2022 annual report before April 30th, 2023. According to the relevant provisions of the Business Rules (Trial) of the National Equities and Exchange and Quotations and the Implementation Rules for Delisting of Listed Stocks of the National Equities and Exchange and Quotations, if the company fails to disclose its 2022 annual report before June 30th, 2023, the Company will initiate a compulsory delisting procedure, and the specific delisting time will be determined by the company. Qijia Detergent stated that it will strive to disclose its 2022 annual report before June 30th, 2023, and fulfill its disclosure obligations. Currently, the company has not yet disclosed its 2022 annual report and its stock will continue to be suspended from trading. Founded in 2001, Anhui Qijia Detergent Products CO., LTD. is a shareholding enterprise restructured from the original Anhui Jimei Daily Chemical Group. The company’s business scope covers a series of products in four categories and more than 10 varieties, including clothing washing, detergent, household cleaning, and mosquito-repellent and insecticidal products.

Regarding the method of labeling net content for cosmetic labels, the new rules explain that the net content is composed of "net content" (in Chinese), numbers, and legal measurement units (or Chinese count units). Today (May 18th), the Guangzhou Municipal Administration for Market Regulation issued the Common Cosmetic Notification Q&A (38) (hereinafter referred to as "Q&A"), which made relevant regulations on the labeling of net content for prepackaged products. According to the "Q&A," the Measures for the Supervision and Management of Quantitative Packaging Commodities (State Administration for Market Regulation Order No. 70) will be officially implemented from June 1, 2023, and the Measures for the Supervision and Management of Quantitative Packaging Commodities published by the former General Administration of Quality Supervision, Inspection, and Quarantine Order No. 75 on May 30, 2005, will be abolished simultaneously. Regarding the method of labeling net content for cosmetic labels, the "Q&A" explains that the net content is composed of "net content" (in Chinese), numbers, and legal measurement units (or Chinese count units). For prepackaged products with net content marked in terms of length, area, or count units, the words "net content" (in Chinese) can be omitted, and only numbers and legal measurement units (or Chinese count units) should be marked. For cosmetics with content indicated by counting, numbers and Chinese count units, such as pieces, sheets, or tablets, can be marked on the display side of the product packaging. Meanwhile, according to the State Administration for Market Regulation Order No. 70, there are two methods for marking the net content of a set product. First, for packages containing multiple pieces of the same type of prepackaged product, the net content of a single prepackaged product and the total number of pieces should be marked, or the total net content can be marked. Second, for packages containing multiple pieces of different types of prepackaged products, the net content of each different type of prepackaged product and the number of pieces for each different type should be marked, or the total net content for each different type of prepackaged product should be marked separately.

Cosmax launched the metaverse platform Cosmax Meta on May 18th. The platform's purpose is to enhance the relationship with customers and partners in the cosmetics sector, particularly with the MZ age group. On May 18th, Cosmax announced the launch of its Cosmax Meta platform. The platform is designed to deepen connectivity with customers and partners in the cosmetics industry, particularly with the MZ generation. Cosmax Meta creates a three-dimensional space using digital technology to showcase the company's patented materials and technologies, as well as its various types of cosmetics formulations. In addition, the platform will provide quarterly trend proposals for customer companies and also features online conferencing capabilities. By digitizing its research and development assets, Cosmax Meta goes beyond the limitations of time and space, strengthening the relationship between the company and its customer partners, according to Byung-man Lee, a representative director of the Beauty Tech Innovation (BTI) at Cosmax. Besides Cosmax, The Revlon-owned beauty brand Elizabeth Arden has also teamed up with experiential e-commerce platform Obsess to create a virtual store where customers can browse products, play games, and make purchases. This March, Cosmax revealed the development of a "Standard Technology for Measuring Sensory Texture" that can forecast the texture of cosmetics without the need for the actual application. Cosmax said the company has accomplished its initial objective in technological research utilizing artificial intelligence (AI). The company aims to revolutionize the future of cosmetic development by utilizing AI technology to measure cosmetic texture. In addition, Cosmax utilized machine learning to enhance the predictive ability of their technology for commercial purposes, facilitating the rapid and efficient acquisition of product texture data. The results of this research were recently published in the prestigious physics journal 'Physics of Fluids' and presented at the International Federation of Societies of Cosmetic Chemists (IFSCC) conference held in London last year. The CEO of Cosmax, Byung-man Lee, highlighted the significance of the research, stating, "We have shifted the paradigm from relying on subjective judgments to objectively quantifying the feel of cosmetics." He went on to say, "In the future, we plan to expand the technology's scope to cover various formulations and sensory characteristics to develop customized cosmetics." Cosmax is also speeding up its efforts to establish future growth engines, including AI technology, by transforming its CAI (Cosmax AI) lab under the Digital Business Division into a research institute in 2022.

Louis Vuitton has released a new fragrance called Pacific Chill, which is inspired by California and was developed in collaboration between perfumer Jacques Cavallier-Belletrud and artist Alex Israel. Louis Vuitton has launched its latest fragrance, Pacific Chill, which is inspired by California and was created in collaboration between perfumer Jacques Cavallier-Belletrud and artist Alex Israel. To celebrate the launch, the French luxury house hosted a wellness event in Malibu on Wednesday. The scent was born at the Polo Lounge in Beverly Hills, where Cavallier-Belletrud and Israel met to discuss their visions for the fragrance. They were inspired by the California coastline and the feeling of a fresh sea breeze on a warm day. Pacific Chill is described as a fresh and citrusy fragrance, with notes of grapefruit, mandarin, and lemon. It also features hints of ginger and cardamom, as well as a base of cedar and musk. The fragrance is part of Louis Vuitton's Les Colognes collection, which also includes scents like Sun Song, Cactus Garden, and Afternoon Swim. The collection is meant to evoke a sense of travel and adventure, with each scent inspired by a different destination. At the Malibu wellness event, guests were treated to a yoga class and sound bath, as well as a chance to try out the new fragrance. The event was attended by celebrities like Emma Stone, Miranda Kerr, and Laura Harrier. Cavallier-Belletrud described his collaboration with Alex Israel as very liberating. As a perfumer, he sources ingredients from all around the world and brings them to life in his atelier in Grasse. The fragrance, Pacific Chill, is packaged in a blue-green bottle and sold for $300 per 100-ml bottle. Israel said he was involved in branding, which included naming the fragrance, developing the campaign, designing the packaging, and creating its visual identity. He aimed to capture the unique aspects of Los Angeles life, such as the city's focus on wellness and nature, and the cool and unique morning light, all in a bottle. Pacific Chill is now available for purchase at Louis Vuitton stores and on the brand's website. Source: WWD

Bath & Body Works released its 2023 Q1 result. In the first quarter ending on April 29, 2023, the company's net sales totaled $1.396 billion, which is a 4% decrease from the net sales of $1.450 billion in the first quarter that ended on April 30, 2022. Bath & Body Works has released its Q1 results for 2023, indicating that the company's net sales for the quarter ending on April 29, 2023, were $1.396 billion, which represents a 4% decline compared to the net sales of $1.450 billion for the same quarter that ended on April 30, 2022. Bath & Body Works is a retail chain that specializes in the sale of candles, fragrances, soaps, and lotions. The company was established in 1990 in New Albany, Ohio, and has since expanded its operations to six continents around the world. In the first quarter of 2023, Bath & Body Works' earnings per diluted share were $0.35, compared to $0.64 for the same period the previous year. The operating income for the first quarter was $181 million, a decrease from last year's $280 million, while the net income was $81 million, a decline from last year's $155 million. The net income for the first quarter of 2023 includes a pre-tax gain of $7 million ($5 million after-tax gain) related to the early extinguishment of debt, which was due to the company's repurchase and retirement of $84 million principal amount of senior notes in the open market during the first quarter. The company has maintained its previous guidance for the fiscal year 2023, which predicts that net sales will remain flat or decrease by a mid-single-digit percentage compared to the $7.56 billion net sales in 2022. However, the company has revised its earnings per diluted share guidance for the full year 2023 to be between $2.70 and $3.10, which is lower than the earnings per diluted share of $3.40 in 2022. Bath & Body Works has forecasted a low to mid-single-digit decline in net sales for the second quarter of 2023 compared to the second quarter of 2022, which had net sales of $1.618 billion. Gina Boswell, CEO of Bath & Body Works, commented, “We delivered first-quarter sales in line with our expectations while our EPS was better than anticipated as we saw benefits from our work to improve merchandise margin as well as early benefits from our cost optimization initiatives.”

L'Oréal’s acquisition of Aēsop from Natura &Co received approval from Brazilian antitrust regulator. The deal is expected to be finalized in Q3 2023. The Brazilian antitrust regulator, Cade, has given its approval for L'Oréal to acquire Aēsop with the approval considered final unless there is an appeal within 15 days. In 4th Apr, L’Oréal announced that it has entered into an agreement with Natura & Co to acquire Australian luxury beauty brand Aēsop. The proposed acquisition values Aēsop at an enterprise value of $2.525 billion. Aēsop has a presence in around 400 points of sale across various regions including the Americas, Europe, Australia, New Zealand, and Asia, with a new entry into China where the first store opened in 2022. In 2022, the brand recorded sales of $537 million. Nicolas Hieronimus, Chief Executive Officer, of L’Oréal Groupe, said, “I am very excited to welcome Aēsop and its teams to the L’Oréal Groupe family. Aēsop taps into all of today’s ascending currents and L’Oréal will contribute to unleashing its massive growth potential, notably in China and Travel retail.” Fábio Barbosa, Chief Executive Officer of Natura &Co, said: “The divestment of Aēsop marks a new development cycle for Natura &Co. With a strengthened financial structure and a deleveraged balance sheet, Natura &Co, exercising strict financial discipline, will be able to sharpen its focus on its strategic priorities, notably our investment plan in Latin America. We will also be able to concentrate on continuing to improve The Body Shop’s business and refocusing Avon International’s footprint.” The acquisition is expected to be finalized in Q3 2023, and L'Oréal plans to increase the brand's presence in China and invest in its travel retail operations. Natura & Co initially considered an IPO for Aēsop but opted for a stake sale due to volatile markets. The sale aimed to strengthen the balance sheet of the Brazilian beauty manufacturer and allow for further investments in the Latin American market.

Amorepacific has recently announced the launch of Laneige, the group's skincare brand, in the United Kingdom and the Middle East, following its successful introduction in North America. Amorepacific, the Korean beauty giant, has recently announced the launch of Laneige, the group's skincare brand, in the United Kingdom and the Middle East, following its successful introduction in North America. Laneige officially launched in Space NK, a luxury beauty multi-store in the UK, at the end of April. Amorepacific is aiming to expand its customer base in the UK market by highlighting Laneige's global flagship products, which include the Lip Sleeping Mask and Waterbank Cream. In May, Amorepacific plans to operate an exclusive Laneige brand space at a Space NK store located in Kings Cross and Westfield, central London, England. Jinpyo Lee, Chief Strategy Officer at Amorepacific Group said: "Prior to our official launch, LANEIGE was featured on Cult Beauty, LOOK FANTASTIC, and Beauty Bay, e-commerce platforms specializing in beauty in the U.K., and we were able to see the strong interest from local customers," "As the demand for Korean beauty products in the European market has increased in recent years, our sales in Europe grew by more than 90% year-on-year in Q1 2023. We look forward to providing our customers in the U.K. with the same high level of satisfaction with our brands." Jinpyo Lee added. While in the North American market, since last year, Amorepacific has become increasingly prominent with its Laneige, Sulwhasoo, and Innisfree brands. In the first quarter of 2023, sales in North America increased by 80%, buoyed by strong sales growth in e-commerce channels like Amazon and branded stores, as well as offline channels including Sephora. In addition, Laneige has also made its debut in the Middle East this month, in partnership with Sephora, the leading beauty retailer in the region. Laneige's flagship products are now available in Sephora stores across the United Arab Emirates (UAE) and four Gulf Cooperation Council countries, including Saudi Arabia, Kuwait, Qatar, and Bahrain.

DSM-Firmenich has appointed Katharina Stenholm, the Biotechnology doctor from Helsinki University of Technology in Finland, as the Chief Sustainability Officer, effective from July 1, 2023. DSM-Firmenich has announced the appointment of Katharina Stenholm, the Biotechnology doctor from Helsinki University of Technology in Finland, as its Chief Sustainability Officer, effective from July 1, 2023. In this role, Stenholm will be responsible for developing a new, consolidated Environmental, Social, and Governance (ESG) strategy for the company, which will build on the strengths of both DSM and Firmenich's previous plans and actions. The appointment of Katharina Stenholm reflects DSM-Firmenich’s commitment to sustainability and its desire to create a more comprehensive and effective approach to ESG issues. Katharina Stenholm is a highly experienced leader with a strong background in general management, procurement, sustainability, and commerce. Before joining DSM-Firmenich, she served as the head of the European Sustainability function at PepsiCo. She has also held various roles at Danone, including SVP of Strategic Projects, Managing Director of DanTrade, and Global CPO, where she had responsibility for sustainability. Additionally, Stenholm held various positions at SABMiller, ultimately serving as Global CPO, and serving as the CEO of a food ingredients company with global sales in the Nordics. Her extensive leadership experience and sustainability expertise make her a valuable addition to DSM-Firmenich's executive team. Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of dsm-Firmenich, said: “We are excited to welcome Katharina as our new Chief Sustainability Officer. She is widely recognized as an exceptional leader and innovator in the field of ESG and her extensive experience and expertise will be invaluable in helping us achieve our purpose. With her guidance and leadership, we are confident that we will create a positive impact for people and the planet while building sustainable business growth.” “I strongly believe that actions speak louder than words,” said Katharina Stenholm. “Both DSM and Firmenich have a history of being leaders in ESG and have the credentials to prove it. DSM-Firmenich brings together more than 150 years of passion, experience, and progress and I feel privileged to be able to shape the next chapter in the company’s ESG journey. I am thrilled to be joining a team that is rising to the challenge, and together with our customers, partners, and employees, we are poised to accelerate our positive impact. By combining what is essential, desirable, and sustainable, we can bring progress to life and create a brighter future for all.”

On May 18, Yiwu Customs announced that in the first four months of this year, the total import and export value of Zhejiang Yiwu reached 165.42 billion yuan ($23.55 billion). Imports of beauty and cosmetics and personal care products amounted to 1.69 billion yuan ($241 Million), seeing growth of 34.9%. On May 18, Yiwu Customs announced that in the first four months of this year, the total import and export value of Zhejiang Yiwu reached RMB 165.42 billion yuan($23.55 billion), a year-on-year increase of 15.7%, of which exports amounted to 147.64 billion yuan ($21.01 billion), a year-on-year increase of 13.0%, while imports amounted to 17.78 billion yuan ($2.53 billion), a year-on-year increase of 44.7%. Data shows that in the first four months of this year, Yiwu's imports and exports to Africa amounted to 30.03 billion yuan ($4.27 billion), a year-on-year increase of 24.3%, imports and exports to Latin America amounted to 23.98 billion yuan ($3.41 billion), a year-on-year increase of 28.0%. The total imports and exports to countries and regions along the "Belt and Road" reached 62.93 billion yuan ($8.96 billion), a year-on-year increase of 14.8%. In addition, exports to India, Saudi Arabia, and Brazil were 8.65 billion yuan ($1.23 billion), 4.14 billion yuan ($589 million), and 3.9 billion yuan ($555 million), respectively, with year-on-year increases of 11.3%, 56.1%, and 49.1%. Media reporters learned that as the "618" e-commerce promotion is approaching, the Yiwu Comprehensive Bonded Zone, which gathers imported goods from nearly 50 countries and regions, has begun to prepare for stockpiling in advance. Data shows that in the first four months of this year, Yiwu imported consumer goods worth 10.02 billion yuan ($1.43 billion), a year-on-year increase of 30.7%. Among them, imports of beauty and cosmetics, and personal care products amounted to 1.69 billion yuan ($241 Million), a year-on-year increase of 34.9%. Exhibitions are an important window for foreign trade and communication. Data shows that in the first quarter of this year, the number of commercial exhibitions held in Yiwu increased by 120% compared to the same period in 2019, driving an increase in product export volume to a certain extent. In the first four months of this year, Yiwu exported 112.04 billion yuan ($15.95 billion) through market procurement trade, a year-on-year increase of 11.9%. The import and export through general trade amounted to 44.08 billion yuan ($6.27 billion), a year-on-year increase of 21.6%.