Latest from Eileen Francis
At one year, TikTok Shop conjures the early days of Amazon, representing the ‘Wild West’ of beauty ecommerce, said co-founders of private label and contract manufacturing company KO-Pack at the IBA Cosmetics Convergence Fall 2024 Virtual Symposium, “The Promise and Pitfalls of TikTok Shop.”
Global beauty giant is working to adapt its approach to the prestige market to meet escalating competition, increased points of sale, and more knowledgeable consumers with new shopping habits, CFO Tracey Travis said at the Barclays Global Consumer Staples Conference.
Wire Holdings, Inc. founder and CEO Kimberly Carney says her Glosswire platform for connecting online shoppers with beauty products is growing its consumer and vendor base, with expectations to host 500 brands on its site by year-end. Carney spoke about the unique positioning of the platform, which showcases but does not directly sell featured products, in a 21 August interview.
Angelina Jolie For TOM FORD; Haus Labs by Lady Gaga; Gillette Targets Gamers; Cosmetic News In Brief
Estee Lauder Companies’ TOM FORD signs Academy Award-winning actress Angelina Jolie as the face of its Runway Lip Color Campaign launching 3 September. Dolly Parton introduces her first beauty range, Dolly Beauty, through Scent Beauty. More cosmetics and personal-care news in brief.
CEO Sue Nabi says Coty has created a “multi-functional, stand-alone organization” within its Consumer Beauty business to drive rapid-fire innovation. In a 20 August presentation, Nabi said the firm’s innovation pipeline undergirds its fiscal 2025 outlook of 6%-8% growth.
The beauty giant expects organic sales growth for fiscal 2025 to range between -1% and 2%, falling well short of analyst consensus of 7.2%, reflecting the firm’s overexposure in China and Asia travel retail. A new CEO is incoming with Fabrizio Freda set to step down in June 2025.