The total revenue of Chicmax was about RMB 1.5527 billion ($215.9 million) to RMB 1.6159 billion ($224.7 million), with a growth of about 23% to 28%. On August 2, Shanghai Chicmax Cosmetics Co., Ltd (hereinafter referred to as Chicmax, stock code: 02145.HK) released a forecast for the first half of 2023. (Credit: from Chicmax) During the reporting period, the total revenue of Chicmax was about RMB 1.5527 billion ($215.9 million) to RMB 1.6159 billion ($224.7 million), with a growth of about 23% to 28%. The profit was about RMB 98 million ($13.6 million) to RMB 104.5 million ($14.5 million), with a growth of about 50% to 60%. The growth is mainly due to the outbreak of Chicmax's core brand, Kans, in the Douyin (Chinese version of TikTok) channel. According to CHAILEEDO data , during the Chinese 618 Shopping Festival thin year (May 25 to June 18), the skincare category in Douyin saw a year-on-year growth of 61.68%. The total GMV of Chinese brands accounted for 9.66% of the category, with Kans taking the second place among Chinese brands. In addition, in June, rankings of GMV of Kans rose 60 into the TOP5 list of skin care category on Kwai platform.

The consumer business segment achieves organic sales by 14.9%, with nominal sales rising by 12.9% to €4.1 billion ($4.5 billion). Beiersdorf, the German personal care and cosmetics company, has reported strong financial results for the first half of 2023, with group sales reaching €4.9 billion, up 12.3% in organic terms compared to the same period in the previous year. The company's operating result (EBIT) also improved significantly, reaching €852 million, up from €710 million in the first half of 2022, with an EBIT margin (excluding special factors) of 17.3%. The impressive results were driven by the global success of Beiersdorf's core brand, NIVEA, which grew 17.9%, and the dermatological brands Eucerin and Aquaphor, which grew 26.1%. In terms of the segment, the consumer business segment achieves organic sales by 14.9%, with nominal sales rising by 12.9% to €4.1 billion. The EBIT for the segment increased to €700 million, up from €550 million in the previous year. The core brand NIVEA, including Labello, grew in all regions and categories by 18.4% year-on-year in organic terms. The Derma brands Eucerin and Aquaphor also continued their success story, with organic sales growth of 26.1%. However, the luxury brand La Prairie recorded a 9.9% fall in sales due to disruption in Asian travel retail markets caused by "daigou" business. Given the positive sales trend and above-market growth in the first half of the year, Beiersdorf has slightly increased its sales forecast for 2023 as a whole. The company expects organic sales growth in the high single-digit to low double-digit range for the consumer business segment. Beiersdorf also expects the consolidated EBIT margin from ongoing operations (excluding special factors) to be slightly up on the previous year's level. CEO, Vincent Warnery, stated: “We not only continued our growth path but also significantly increased our profitability in the first half of the year. Our Consumer Business outperformed the market in terms of growth. Both NIVEA and the Derma brands grew strongly in all regions and categories and more than offset the weaker performance of our luxury business. These positive results give us confidence for the next months, even though we still expect headwinds in some areas. We are therefore increasing our sales forecast for the Consumer Business Segment and the Group.”

With the acquisition of Bondi Sands, the Kao Group will focus even more on the skin protection category to establish a firm position globally in the sunscreen and self-tanning markets. Kao Corporation, a leading manufacturer and marketer of beauty brands, has announced its acquisition of Bondi Sands, a renowned Australian sun product company specializing in self-tanning, suncare, skincare, and body products. The acquisition includes Bondi Sands Australia Pty Ltd and related companies, and the terms of the agreement were not disclosed. The deal is valued at A$450 million ($294.3 million), according to The Australian Financial Review. Bondi Sands offers high-quality and distinctive formulations combined with sustainable practices, which have gained a loyal consumer base in over 32 countries, including Australia, the United Kingdom, and the United States. In Australia, the company has a leading share of the self-tanning market, enabling consumers to achieve a beautiful, healthy tan without the damaging effects of the sun. With the acquisition of Bondi Sands, the Kao Group will focus even more on the skin protection category to establish a firm position globally in the sunscreen and self-tanning markets. The Kao Group has positioned skincare as one of the key growth drivers in its mid-term management plan. By leveraging Kao’s vast UV care technologies in the Japanese market and self-tanning technologies in the U.S. market, Kao will expand its global business portfolio and further accelerate its business growth. Bondi Sands was founded in 2012 in Melbourne, Australia, and quickly grew a strong following by consumers worldwide. The brand's commitment to quality, affordability, inclusive product offerings, and sustainability has contributed to its success in the suncare and self-tanning industry. According to Karen Frank, President of Kao Consumer Care Business, Americas and EMEA, Bondi Sands is an incredible brand and a perfect fit for the Kao Consumer Care Business portfolio. She further stated that the addition of Bondi Sands to their brand family will greatly advance their mission to be the preeminent leader in the global skin protection business. Shaun Wilson, Co-Founder and CEO of Bondi Sands, expressed excitement about the partnership, stating that Kao's values and principles match those of Bondi Sands, and they both share an unyielding commitment to delivering innovative products that protect the skin and enhance the lives of their valued customers worldwide. With the integration of Kao's renowned scientific and technological resources into their operations, he believes this partnership will significantly contribute to the exponential growth of the Bondi Sands brand, empowering them to further expand their product offerings and advance their research and development initiatives.

After preliminary accounting, from January to June 2023, Proya realized total operating income of about 3.545 billion yuan ($493.3 million), an increase of about 35% year-on-year. Yesterday (August 3), Proya Cosmetics Corporation (hereinafter referred to as: Proya) released the announcement of 2023 half-year key operating data. The announcement shows that during the period from January to June 2023, Proya's sales momentum was favorable and its performance grew steadily. After preliminary accounting, from January to June 2023, Proya realized total operating income of about 3.545 billion yuan ($493.3 million), an increase of about 35% year-on-year. The net profit attributable to shareholders of listed companies was about 490 million yuan ($68.2 million), an increase of about 65% year-on-year. According to the previous performance forecast of Proya, from January 1, 2023 to June 30, 2023, it is expected that the net profit attributable to the owners of the parent company for the half-year of 2023 would be 460 million yuan ($64 million) to 490 million yuan ($68.2 million), compared with the same period of the previous year, it would be an increase of 163 million yuan ($22.7 million) to 193 million yuan ($26.9 million), an increase of 55% to 65% year-on-year. For the main reason for the growth in performance over the same period, Proya said in a previous announcement, the reporting period, the company continued to promote the 6*N strategy ("6" represents new consumption, new marketing, new organization, new mechanism, new technology, new intelligent manufacturing; "N" represents N brands created). It adheres to further deepen the "multi-brand, multi-category, multi-channel" strategy, and continues to consolidate the "Hero product strategy". It achieved stable growth in the sales of its brands.

For many years, the cosmetics industry has been questioned by environmentalists. With concerns about the potential health risks of using non-natural substances and chemicals and issues such as animal ethics, excessive water use, air pollution, and plastic pollution caused by the cosmetics industry, an increasing number of beauty conglomerates are shifting their focus to ESG. For a long time, environmentalists have raised questions about the cosmetics industry due to concerns about the use of non-natural substances and chemicals, as well as issues such as animal ethics, excessive water use, air pollution, and plastic pollution caused by the industry. As a result, an increasing number of large beauty companies are now turning their attention to ESG as a way to address these concerns. ESG provides a framework for evaluating a company's environmental, social, and governance impact, which goes beyond traditional financial performance. ESG is a standard configuration for leading beauty companies in China According to data from Precedence Research, the global beauty market is expected to exceed 500 billion US dollars by 2028, reaching 505.6 billion US dollars. The escalating climate crisis is altering many people's purchasing patterns, impacting the global beauty industry, which is striving to meet a series of sustainable development challenges in product manufacturing, packaging, and more. The industry, set to reach a market size of $500 billion, is witnessing an increasing focus on ESG development from major beauty giants. In 2004, the United Nations Global Compact first formally proposed the concept of ESG. Specifically, ESG stands for Environmental, Social, and Governance, a concept and business evaluation standard that focuses on a company's environmental, social, and corporate governance performance rather than traditional financial performance. Indeed, more and more consumers are placing greater importance on the social and environmental significance behind products. According to Simon Kucher's Global Sustainability Study 2021, a strategy and consulting firm, 60% of consumers across the globe consider sustainability as a crucial factor when making a purchase decision. Additionally, the study found that 35% of consumers are willing to pay a higher price for products or services that are environmentally sustainable. With the continuous integration of China's capital market with the international market, Chinese beauty companies are leading in ESG development in the domestic capital market. According to relevant data, as of the end of September 2022, 1459 out of 5000 listed companies in China's A-share market have disclosed ESG reports, accounting for 29.45% of all listed companies. Looking at the domestic beauty industry, the Baidu search index for the keyword "ESG beauty" began to gradually rise from 2021, indicating that more people are starting to pay attention to the integration of the beauty industry and the cutting-edge concept of ESG. Shanghai Jahwa, a traditional Chinese daily chemical company, is also leading in terms of ESG. In 2021, Shanghai Jahwa issued the beauty industry's first ESG report in the real sense. Shanghai Jahwa, an old Chinese daily chemical company, is also in a leading position in terms of ESG. In 2021, Shanghai Jahwa released the first real ESG report in the beauty industry. Taking the lead in ESG, Shanghai Jahwa's latest ESG report, Chairman Pan Qiusheng showcased the company's new actions in environmental protection, "In the environmental dimension, to achieve the dual carbon target, we continue to improve the level of environmental management in 2022. Across factories, we use clean energy, install photovoltaic power generation devices, save energy, and reduce consumption from the production link. Logistics launched the "Fly Yue Plan", set up a warehouse in the South China region, and was responsible for most orders in the South China region. By improving the efficiency of express delivery and reducing transportation time, greenhouse gas emissions are reduced." Pan Qiusheng elaborated on Shanghai Jahwa's environmental actions in the production link, using a large amount of clean energy. In addition, Shanghai Jahwa's ESG dynamics are also mainly reflected in the packaging. Shanghai Jahwa stated that the company upgrades the product's transport packaging through structural optimization design and material adjustment upgrades, and the total area of cardboard and other materials saved reaches 348,200 square meters. The packaging of Jia'an Laundry Detergent in 2022 has been reduced through structural upgrades, shape upgrades, and material optimization, saving 22.41 tons of petroleum-based plastics. In April 2021, China's beauty giant Proya also released the company's first ESG report. According to its latest ESG report, Proya reduces the use of fossil energy in production and operation through energy-saving technological transformation, clean energy replacement, and distribution route optimization, and reduces its carbon emissions. During the reporting period, the greenhouse gas emission per ten thousand yuan of revenue was 12.42 kg of carbon dioxide, a decrease of 31.69% year-on-year. At the same time, it traces the source of palm oil derivatives and prefers to buy RSPO-certified palm oil to reduce deforestation and its impact on biodiversity. Like Shanghai Jahwa, Proya also practices environmental protection by using clean energy in production and ensures the use of cleaner raw materials from the source of raw materials. The first ESG reports have different focuses In 2022, domestic beauty companies released their first ESG report, including BTN, Yasten Group, Marubi, and Lily & Beauty. Unlike Shanghai Jahwa and Proya, BTN demonstrated its new achievements in animal testing in its ESG report. In 2022, the BTN Research Institute successfully established a Type IV sensitization model using zebrafish for the first time, holding a leading position in the industry and perfecting the existing sensitization evaluation system. The zebrafish Type IV sensitization evaluation method has higher predictability than conventional in vitro methods (cells), lower cost, and shorter experimental cycles than conventional animal experiments (guinea pigs) and can achieve high-throughput screening. This evaluation method is exempted from the "Animal Experiment Protection Law", avoiding ethical issues concerning animal testing. At the same time, based on the cellular model, a comprehensive construction from safety to efficacy testing has been completed, including skin irritation, eye irritation, phototoxicity, anti-inflammatory, anti-allergic, whitening, repairing, anti-aging, oil control, and other multi-dimensional evaluation experimental schemes. Yatsen on the other hand, practices ESG in the use of recyclable materials. Yatsen states that the company has been continuously exploring the feasibility of sustainable packaging materials. For example, the capsule packaging of EVE LOM Radiant Cleansing Oil Capsules and Fu Yan Wrinkle Repair Capsule Essence is made from natural plant ingredients, and the materials are 100% biodegradable. Starting from the selection of packaging materials, Yatsen also intends to take into account the recycling of materials, committed to creating a closed loop of sustainable green packaging. Many brands under Yatsen have launched product packaging recycling projects, calling on consumers to start a green relay mode and increase the usage rate of product packaging. For example, EVE LOM products have participated in packaging recycling and recycling programs, earning The Green Dot logo. In December 2022, MSCI upgraded Yatsen's ESG rating to Grade A, which is internationally recognized as a leading level of sustainability. At the same time, the recently non-listed company, Gala Group, released its "2022 Sustainability Report", detailing the company's continuous efforts in key areas such as environment, society, and corporate governance. Gala Group has practiced its environmental philosophy in packaging, with its Ice Muscle Water packaging container being the world's first one-shot injection molded environmentally friendly packaging, which can improve production efficiency, reduce energy consumption, and reduce carbon dioxide emissions by up to 90%. From the dynamics of these Chinese beauty companies, Chinese companies are constantly practicing the ESG concept at all stages of production. Jia Hua and Proya in Shanghai are using clean energy in production to reduce carbon emissions. In terms of packaging, Yatsen has been exploring the use of recyclable materials, using recyclable packaging materials as much as possible, while Gala Group uses its unique one-shot injection molded environmental packaging. On the other hand, BTN's animal experiments are exempted from the "Animal Experiment Protection Law", avoiding ethical issues related to animal testing, and leading the industry. Driving the transformation of the beauty industry from three directions International beauty giants are also continuously practicing environmental protection commitments through ESG. As a global leader in the beauty industry, L’Oréal proposed a new sustainable development commitment called "L’Oréal for the Future" in 2020, gradually transitioning to a sustainable business model and actively addressing social and environmental issues. L’Oréal has also set a series of sustainable development goals. By 2025, all factories will achieve a "carbon-neutral" state by improving energy efficiency and using 100% renewable energy. By 2030, innovation will be carried out to reduce the greenhouse gas emissions generated by consumers using our products by an average of 25% compared to 2016. By 2030, 100% of the bio-based ingredients in formulas and packaging materials will be traceable and from sustainable sources, none of which are related to deforestation. By 2030, 95% of the ingredients in product formulas will be bio-based, sourced from abundant minerals or recycling technologies. Unlike other companies, L’Oréal not only focuses on using clean energy in the production process but also emphasizes the importance of bio-based ingredients in raw materials, with a strong emphasis on the sustainability of its raw material sources. Liang Yinyin, Chief Sustainability Officer of L’Oréal North Asia and China, said in an interview that as a member of the EcoBeautyScore Alliance, L’Oréal is developing a theoretical framework internally and will publicly publish a product impact information and rating system online. The goal is to create a globally applicable measurement and rating system for the environmental impact of cosmetics. In addition, Estée Lauder is focusing on the packaging field to implement environmental protection concepts. Estée Lauder has set a goal to ensure that 75-100% of their packaging meets at least one of the "5 Rs": recyclable, refillable, reusable, recycled, or recoverable by 2025. They plan to increase the amount of post-consumer recycled material in their packaging by up to 50% and eliminate unnecessary cartons and paper for their products wherever possible. They also aim to have all their forest-based fiber cartons FSC-certified by 2025. Nancy Mahon, Senior Vice President, Global Corporate Citizenship and Sustainability of Estée Lauder said, “Sustainability has long been central to how The Estée Lauder Companies and its brands have operated and is a key part of our corporate strategy for the future.” In addition, Procter & Gamble uses artificial intelligence to track the entire manufacturing process of its products to accurately measure sustainable development goals through technology. Shiseido has stated that it is reducing water usage in its factories to a minimum through recycling. When it comes to practicing ESG principles, both domestic and foreign beauty companies focus on using clean energy in the production process and promoting packaging recycling. However, for domestic companies, using less harmful raw materials and practicing environmentally friendly concepts in the material aspect is a key consideration. According to public data from Jiufang Zhitou, ESG can drive the transformation of the beauty industry from three aspects. The first is for the beauty industry to shift from "quantity increase" to "quality increase". This means that the beauty industry should no longer focus solely on financial performance growth but also pay attention to product quality and social responsibility. Mindless marketing of products has become a thing of the past. The second aspect is that domestic beauty companies are entering the era of raw material dividends and resonate with research and development to promote the transformation of the beauty industry towards biotechnology. In terms of raw materials, the beauty industry needs to turn to more technologically advanced biotechnology to develop environmentally friendly raw materials and practice environmental protection concepts from the source, aligning with international giants such as L’Oréal. The third aspect is that ESG is driving companies towards full lifecycle digital management, laying the foundation for going global. In the increasingly important digital transformation, ESG can drive organizational reform and make enterprise management more efficient. More standardized ESG reports can also help companies go global and align with international standards. ESG development in China is still in its infancy. Although domestic beauty companies are more advanced in ESG development than the overall level, there are still difficulties in aligning with international standards as the development of ESG abroad is relatively mature. For domestic beauty companies, developing cleaner raw materials through high-tech research and development and increasing the use of renewable energy are directions to strive for in improving their ESG standards.

The company predicts that its pro forma basis Adjusted EBITDA for FY 2023 will be between €1.8-1.9 billion, which is lower than the €2.275 billion recorded in FY 2022. Today(August 2), The financial report for DSM-Firmenich for H1 and Q2 2023 was released. It achieved sales of 6.152 billion euros, down 5% year on year. Its sales for Q2 2023 were 3.03 billion euros. The group highlights several key achievements. Firstly, the successful completion of the merger between DSM and Firmenich on May 8, 2023, which is a significant milestone for both companies. The integration is progressing in-line with the plan and is already delivering the initial benefits of synergies. Despite a volatile macro-economic environment, the Perfumery & Beauty and Taste, Texture & Health segments delivered good performances. However, the weak vitamin market conditions primarily affected the Animal Nutrition & Health segment, and to a lesser extent, the Health, Nutrition & Care segment. As a result, plans to structurally improve the performance of these segments have been accelerated. DSM-Firmenich announced that due to the current weak macro-economic outlook, there is unlikely to be a significant improvement in business conditions in the second half of 2023. Therefore, the company predicts that its pro forma basis Adjusted EBITDA for FY 2023 will be between €1.8-1.9 billion, which is lower than the €2.275 billion recorded in FY 2022. The company expects a negative vitamin effect on the full-year Adjusted EBITDA of around €400 million, as well as a negative foreign exchange effect for DSM-Firmenich of about €100 million. Geraldine Matchett and Dimitri de Vreeze, Co-CEOs, commented: “We are well advanced in the integration phase of the merger and excited by the positive response of customers to our enhanced business proposition, giving us even greater confidence in the delivery of our synergy targets. The performance of our Perfumery & Beauty and Taste, Texture & Health units in the first six months demonstrates the quality of these businesses and the synergy potential of the merger.

Currently, the company focuses on the ergothioneine and committed to become the ergothioneine B-end raw materials leading enterprises. Recently, Jiangsu Jinsan Bio-technology Co., Ltd (hereinafter referred to as: Jinsan Bio) announced the completion of RMB 60 million ($8.35 million) in angel round financing. The investor is CITIC INVESTMENT HOLDINGS. This is also the first time that Jinsan Bio has received investment since its establishment. According to the National Enterprise Credit Information Publicity System, Jinsan Bio was founded on September 15, 2021, with a registered capital of RMB 10 million ($1.4 million). Its business scope includes bio-feed research and development, food sales (only sales of pre-packaged food), cosmetic retailing, and cosmetic wholesaling. According to public information, Jinsan Bio is a synthetic biopharmaceutical raw material developer. The products are mainly oriented to the domestic and international health and beauty market, to meet the raw material needs of dietary supplements and other health products brands and functional skincare brands. Currently, the company focuses on the ergothioneine and committed to become the ergothioneine B-end raw materials leading enterprises. It is understood that ergothioneine is a compound discovered in 1909, initially found in the fungus Claviceps purpurea. As a natural antioxidant, ergothioneine with excellent anti-aging efficacy has been applied to all kinds of cosmetics, including Estee Lauder Revitalizing Supreme+, Nutritious Super-Pomegranate, Ultimate Lift Regenerating Youth Eye Creme. Various products of La Mer, Clinique exist ergothioneine.

Looking ahead, E.l.f Beauty has raised its FY2024 updated outlook, with net sales expected to grow 37-39% year-over-year, compared to a previously expected increase of 22-24%. E.l.f. Beauty, a leading cosmetics company, has started its new fiscal year on a high note, achieving remarkable growth in net sales and market share gains in the first quarter. The company's net sales for the three months ended June 30, 2023, increased by 76% to reach $216.3 million. This substantial growth was primarily driven by the strength of E.l.f. Beauty's retailer and e-commerce channels, reflecting their successful strategies in reaching and satisfying customers. The company's market share also experienced a significant boost of 260 basis points, further solidifying their position in the cosmetics industry. In terms of net income, E.l.f. Beauty reported $53.0 million on a GAAP basis for the three-month period. Adjusted net income, which excludes certain identified items, stood at an even higher $62.9 million. These figures demonstrate the company's ability to achieve strong profitability while maintaining steady growth. Looking ahead, e.l.f. Beauty is optimistic about its future prospects and the untapped potential it sees for the brand. Amin stated, "As we look ahead, we believe we are in the early innings of unlocking the full potential we see for E.l.f. Beauty and are raising our fiscal 2024 outlook to reflect our continued momentum." As a result, the company has revised its fiscal 2024 outlook, now expecting a year-over-year increase in net sales of 37-39% to $792-802 million, compared to the previously projected increase of 22-24%. This upward adjustment indicates the management's confidence in sustaining their growth trajectory and capitalizing on emerging opportunities. Tarang Amin, the Chairman and CEO of e.l.f. Beauty, expressed his satisfaction with the company's performance, stating, "We are off to a terrific start in our new fiscal year with net sales growth of 76% and market share gains of 260 basis points in Q1. This marks our 18th consecutive quarter of delivering both net sales growth and market share gains. We are one of only five publicly traded consumer companies out of 274 that has grown for 18 straight quarters and averaged at least 20% sales growth per quarter over that period."

A spokesman for the Hong Kong Government said that the outlook for retail sales is favorable, with visitor arrivals set to rise further in the coming months. Today (August 1), the Census and Statistics Department released figures showing that the provisional estimate of the value of total retail sales in June 2023 was 33.1 billion yuan ($4.6 billion), representing a year-on-year increase of 19.6%. The revised estimate of the value of total retail sales in May 2023 was up by 18.5% compared with a year earlier, and the provisional estimate of the value of total retail sales in the first half of 2023 was up by 20.7% compared with 2022. Of overall sales, online sales were 2.2 billion yuan ($307 million) accounted for 6.7%, down 3.3% from the same period in 2022.The revised estimate of the value of online sales in the retail sector in May 2023 was down 3.7% compared to the same period in 2022. The provisional estimate of the value of online sales by retailer for the first half of 2023 declined 6.2% compared with the same period in 2022. Analysed by provisional estimate of the value of goods sold by retailers, the faster growth in June this year was in jewelry, watches and clocks, and valuable gifts, up 64.3%, Other consumer goods, which means not elsewhere classified, rose 20.5%. The pharmaceuticals and cosmetics rose 49.4%. The department stores rose 4.2%. On the other hand, the value of goods sold in supermarkets fell by 3.5%. A spokesman for the Hong Kong Government said that the value of total retail sales continued to rise markedly in June on a year-on-year basis, thanks to the recovery in inbound tourism and the positive consumer sentiment. The outlook for retail sales is favorable, with visitor arrivals set to rise further in the coming months. Local consumer demand was supported by improved labor market conditions and a number of government measures to consolidate the momentum of economic recovery.

Givaudan plans to realize organic sales growth of 4-5% year-on-year in the future. Today (July 20), Swiss flavors and fragrances giant Givaudan announced its 2023 half-year financial report. in the first half of 2023, Givaudan achieved sales of CHF 3.535 billion ($4.1 billion), up 2.4% year-on-year, and down 3.2% in CHF terms. (Credit: from Givaudan) Specifically, Fragrance & Beauty sales were CHF 1.672 billion ($2 billion), up 6.4% in CHF terms. Of this total, sales of Fine Fragrances increased 16.2%, compared to a year-earlier growth rate of 17.9%. The sales of Consumer Products increased 3.7%. The sales of Fragrance Ingredients and Active Beauty increased by 4.4% YOY. (Credit: from Givaudan) Givaudan said the division's growth was driven by a strong performance in Fine Fragrances, a continued high level of new business and the impact of price increases across all businesses. Regionally, sales in APAC were up 3.2% to CHF 852 million ($993.6 million), while sales in the LATAM were up 11.1% to CHF 423 million ($493.3 million). The sales in EAME amounted to CHF 1.405 billion ($1.6 billion), up 8.5% year-on-year. The sales in the NOAM amounted to CHF 855 million ($997 million), down 10.6% year-on-year. Commenting on the growth in the first half year, Gilles Andrier, Chief Executive Officer of Givaudan, said: "We are pleased with our solid performance in the first half of 2023, with particularly strong performance in Fine Fragrances, high growth markets and Europe. In an environment where we are still facing ongoing challenges in some key markets and business segments, I am very happy with our delivery against our performance improvement plan objectives, as well as our continued strong focus on supporting the growth of our customers around the world." In its half-year financial report, Givaudan also set out its medium- and long-term objectives, with the company aiming to achieve year-on-year organic sales growth of 4-5% and free cash flow growth of at least 12%, both on a basis that exceeds its five-year strategy. In addition, it aims to achieve key non-financial objectives around sustainability, diversity and safety, which are linked to Givaudan's purpose.

Oddity said it expects net proceeds of about $41 million from the IPO, which it plans to use for the development and launch of new brands, working capital. On July 10, Oddity, the parent company of makeup brand Il Makiage, said it will make a US initial public offering (IPO) valuing the company at up to $1.7 billion. The company is expected to raise 10.5 million shares of Class A common stock in the IPO, with its shares priced at $27 to $30 per share, according to the company. Oddity said it expects net proceeds of about $41 million at the midpoint of the share price range of $28.50 per share, which it plans to use for the development and launch of its new brand, and working capital. Oddity is a consumer technology company with a brand portfolio that includes beauty brand Il Makiage and skincare brand SpoiledChild, and is committed to guiding the beauty and wellness industry through technological innovation, according to public filings. The SpoiledChild achieved net revenue of $25.9 million in 2022, according to the Oddity prospectus. Oddity has acquired three companies since 2019. It acquired two artificial intelligence startups in 2019 and 2021, respectively. In April, Oddity acquired another biotech startup, Revela, for $76 million. And Oddity has received notable investments. In 2017, L Catterton, the private equity fund of the LVMH group, acquired a 35.8% stake in the Il Makiage brand for $29 million and then increased its investment to $44 million. In January 2022, Oddity announced the completion of a $130 million funding round, a deal that valued Oddity at $1.5 billion. The round was led by technology investor Thomas Tull, investment firm Franklin Templeton and venture capital firm First Light Capital Group. According to the prospectus, Oddity's net income reached $324 million in 2022, up a whopping 46% year-over-year from $222.6 million in the previous year. In the first quarter of 2023 (ended March 31, 2023), Oddity's net income reached $160 million, compared to $90.4 million in the same period last year, an increase of 83.3% year-over-year.

It has been reported that SaSa China has been fined for selling unregistered imported special-purpose cosmetics. Recently, the Shanghai Changning District Market Supervision Administration made public an administrative penalty letter against SaSa Cosmetics (China) Co.(SaSa China) (Credit: from Shanghai Changning District Market Supervision Administration) According to the penalty letter, on June 3, 2021, the Shanghai Changning District Market Supervision Administration conducted an enforcement inspection of the associate counter set up by SaSa China at Parkson Newcore Trading (Shanghai) Co, finding the product “Neizaiziranqingshuang Sunscreen”. As stated in the "Notice on Stopping the Sale of 12 Batches of Counterfeit Cosmetics (No. 58 of 2020)" issued by the National Medical Products Administration on September 10, 2020, the aforesaid cosmetic products are unregistered imported special cosmetic products. In addition, among the five cosmetics sold by SaSa China at its affiliated counters, "Beatizza Sunscreen" was found to be unqualified by the Shanghai Food and Drug Inspection and Research Institute (Inspection Report No. HC202101191). The above behavior of SaSa China violated the provisions of Article 17 and Article 59(1)(b) of the Cosmetics Supervision and Administration Regulations, therefore, Shanghai Changning District Market Supervision Bureau made the administrative punishment of confiscating the illegal income of 56,066.21 yuan, fining RMB 897,059.36 yuan, and seizing 131 unqualified Beatizza Sunscreen. In other words, SaSa China forfeited a total of about 953,100 yuan. Public information shows that SaSa Cosmetics (China) Co., Ltd. is a wholly-owned company of Hong Kong SaSa Group in the mainland, and has opened nearly seventy stores and counters in dozens of cities across the country. Sasa International has more than 200 retail stores and counters in Asia, selling a wide range of products including skincare, perfume and cosmetics.