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This week, Ulta Beauty names new President and CEO, Amazon Premium Beauty is gaining market share, and more.
RETAIL NEWS
Why Some Luxury Houses Are Thriving Amid a Category Downturn
Luxury might be more resilient to economic uncertainties and consumer swings than other tiers, but it’s hardly immune. In the first half of 2024, 42 percent of publicly listed luxury companies reported negative growth, with revenue dipping 0.4 percent in this period. And this current slowdown — the luxury market’s first in recent years — follows a period of double-digit annual luxury growth since 2020. Even so, an elite group of maisons are not just weathering the storm, they’re achieving double-digit growth, according to a new global report from Accenture titled “Luxe Eternal: How Luxury Brands Are Reinventing for Success.”
Unibail-Rodamco-Westfield Sells 15% Stake in Paris’ Forum des Halles Shopping Center
Paris- and Amsterdam-based mall giant Unibail-Rodamco-Westfield (URW) said Monday it has sold a 15 percent stake in the central Paris shopping center Westfield Forum des Halles as part of its ongoing efforts to streamline its assets and reduce its debt.
L Catterton Takes Majority Stake in Kapital
The Japanese label with a cult menswear following entered into a partnership with the LVMH-backed private equity firm.
Fashion Dealmaking Could Perk Up in 2025
Between the building of the brand management houses, a revamping of strategics and companies sitting in private equity portfolios, the industry could see more M&A this year.
Shifting Dynamics as Italian Luxury Brands Navigate Restructuring and New Partnerships
The year 2024 closed with several Italian companies changing skin, restructuring, evaluating options ranging from a sale to a public listing, and forging new partnerships, setting their ducks in a row for 2025.
Johanna Ortiz Eyes Further Retail Expansion for 2025
The traveling "caravan," which will start up again this year, made stops in San Antonio, Texas; Saint-Tropez; the Hamptons; Comporta, Portugal; and Cartagena, Colombia; in 2024.
Selfridges Reveals Its Retail Strategy for 2025
Selfridges is turning over a new leaf after Saudi Arabia’s Public Investment Fund, PIF, took a 40 percent stake in the luxury department store last October, replacing René Benko’s troubled Signa property company as a significant minority investor.
The Impact on Designers and Brands From the Saks-Neiman’s Merger
Saks Global executives say the financing of the deal recapitalizes the company and positions it to settle up with vendors.
Consumer Trends Q4 2024: 5 Insights Driving Beauty, Wellness, and Personal Care
The Bain-Altagamma 2024 Luxury Goods Worldwide Market Study reveals a polarized luxury market, with ultra-luxury segments thriving while accessible luxury contracts. Strong growth is seen in experiential luxury, driven by younger generations prioritizing experiences over material goods. Sustainability is paramount, with consumers demanding eco-conscious practices. Technology plays a crucial role, enabling personalization and operational efficiency. Ultimately, success hinges on brands adapting to these shifting dynamics by focusing on ultra-luxury, experiences, sustainability, and technology to appeal to diverse consumer groups.
BEAUTY NEWS
Beauty’s Top M&A Targets for 2025
After a slow year for acquisitions, brands and investors alike are hoping that 2025 will yield bigger exits. But with most strategic buyers like L’Oréal operating with an even narrower lens, only a select few firms will make it across the finish line.
Clean Beauty Retailer Credo Introduces Kelp-powered Body Care Range
Clean retailer Credo Beauty is betting below the neck. The retailer is expanding its owned offerings with Credo Body Care, a trio of a body cream, body serum and body wash that ranges in price from $34 to $52. Industry sources estimate the products’ first-year sales will come in around $1 million. Jackson didn’t comment on the estimate, but said the launch results from Credo’s shoppers having a greater focus on beauty as a vehicle of well-being.
Monday Haircare Founder Jaimee Lupton Debuts New Gen Z, Alpha Personal Care Line
The tween and teen brand taps into the fastest-emerging cohort of beauty consumers with products that include bath bombs, fragrance body mists, body wash and more.
Global Skincare Market Projected to Reach $220.75 Billion by 2029
The global skincare market – valued at $154.88 billion in 2023 – is projected to reach $220.75 billion by 2029, rising at a CAGR of 6.08%, per a new report from ResearchAndMarkets.com. The skincare market has shifted towards “clean” and natural ingredients.
Ulta Beauty’s Kecia Steelman Named President and CEO, Succeeding Dave Kimbell
Ulta Beauty CEO Dave Kimbell is retiring, effective today, January 6. Kecia Steelman, the company’s President and Chief Operating Officer, will step into the CEO role and also join Ulta’s Board of Directors. Kimbell will continue to support the company as an advisor until June 28.
Amazon Premium Beauty Is Gaining Market Share. Will Leading Luxury Players Have to Join?
Experts weigh in on the likelihood of luxury beauty brands joining the platform — and where the opportunities lie.
Big Changes for Big Beauty Players in 2025
The new year holds new challenges for L’Oréal, Unilever, the Estée Lauder Cos., Procter & Gamble and LVMH Moët Hennessy Louis Vuitton — plus the beauty sector at large.
Is Makeup Becoming Less Impulse Purchase-worthy?
Makeup, long considered the ultimate accessible beauty splurge, was the sole category to decline in total sales in 2024. A few factors are at play.
COMINGS & GOINGS
- British Fashion Council Names Laura Weir Next CEO BoF
- Ulta Beauty’s Kecia Steelman Named President and CEO, Succeeding Dave Kimbell CEW
- G/Fore Appoints Suzy Biszantz as CEO SGB Media
- Dr. Martens’ Global Creative Director Darren McKoy Exits Company After 10 Years WWD
- Carter’s parent names interim leader as CEO retires Retail Dive
