Hong Kong-listed beauty group L’Occitane said this week that its net profit in the year to March 31 soared almost 22% to at €117.6m, even though its revenue rise was more modest, up just over 8% to almost €1.43bn.
The vegan handbag company has completed a seed investment round of $250,000 from an anonymous angel investor at a valuation of $5 million. The company plans to launch a line of plant-based artisanal beauty bars.
Harrods has officially opened a revamped beauty hall as part of an ambitious three-part makeover of its beauty department. Once completed, the beauty hall will spread across 90,000 sq ft over five floors.
LVMH Group’s cosmetics brand Make Up For Ever has welcomed Gabrielle Rodriguez to the post of CEO at the business. Rodriguez has held the position of general manager Europe at Christian Dior Parfums since 2017.
The biggest beauty names are in a race to snap up the most dynamic brands globally and Anglo-Dutch consumer-products giant Unilever is one of the most active names, its latest big buy being J-Beauty brand Tatcha.