News updates: Estée Lauder Co; Coty; L’Oréal’s Prada Beauty; Avon
L’Oréal launches first Prada Beauty travel-retail counter in Milan
French multinational L’Oréal has partnered with Dufry to launch its first permanent airport retail counter for Prada Beauty at Milan Malpensa airport.
Prada Beauty launched in July this year and is L’Oréal’s latest luxury beauty launch.
The opening of its first-ever travel-retail counter was timed to coincide with Milan Fashion Week.
According to L’Oréal, the new counter “underscores the power of Prada as a new multi-axis brand and showcases its diverse portfolio of fragrance, skincare and makeup products”.
Niels Juhl, L’Oréal Travel Retail Europe, Middle East, Africa, India General Manager said: "We are extremely proud to launch Prada Beauty in Dufry as the first store in Travel Retail Worldwide, right on time for the Milano Fashion Show. This new collection launch in our new impactful corner reasserts our long-term partnership with Dufry and opens new perspectives of Beauty in Travel Retail."
Estée Lauder Co. plans to open a Paris-based Atelier
The beauty multinational said the new Paris-based Atelier will focus on fragrance innovation and craftmanship help to boost its luxury and prestige fragrance division.
The new venture is expected to open in 2024 and according to the company will serve as a hub of innovation, craftmanship and speed-to-market.
ELC said it wanted to capitalise on the success of its Fragrance business, which it said had delivered 10 consecutive quarters of at least double-digit organic net sales growth through fiscal year-end 2023. It also wants to understand the long-term growth opportunities of the category.
The Paris-based Atelier, which will focus on fragrance innovation and craftmanship, will be situated close to the Company’s fragrance house partners, ingredient suppliers and manufacturing network.
ELC hopes that the Atelier will “help enable deeper co-creation and collaboration with external partners to help unlock breakthrough product, packaging, and concept innovation at greater speed-to-market.”
The company’s fragrance portfolio includes major brands such as Jo Malone London, TOM FORD, Estée Lauder, Le Labo, Clinique, KILIAN PARIS, Editions de Parfums Frédéric Malle, AERIN Beauty, and Aramis.
Executive Group President Stéphane de La Faverie said: “Serving as an innovation enabler across our fragrance portfolio, its location will give us direct access to some of the best creative design resources, industry talent and local suppliers and perfumers, to help continue to accelerate our momentum in this exciting category.”
Avon has globally rebranded
The heritage beauty brand, which was founded 137 years ago, has recently rebranded and chosen a ”branded house approach” with one cohesive strategy with a new visual identity for all brand channels and applications to exist under.
The brand said it recognised that its identity had been diluted over time and was inconsistent across platforms.
It worked with London-based agency Free The Birds to overall its identity and the rebranding campaign is rolling out across Europe, Middle East & Africa, South Latin America, North Latin America, and Asia Pacific territories.
The rebrand unveiled a new logo, packaging design, website and social media assets for a totally new visual identity
Avon CMO Kristof Neirynck said: “Our unique value proposition for customers is the personalised beauty services and advice by someone in their community who really knows and understands their needs. The aim with this rebrand was to celebrate Avon’s USP in the market which has always focussed on creating products that help our customers feel the best version of themselves.”
Coty launches on Paris stock exchange
Multinational beauty company Coty has launched on the European Bourse and priced its global offering of 33 million shares at $10.80 per share.
The US-listed company initially announced in May this year that it would explore the possibility of a dual listing in Paris.
Coty, which generates 45% of its annual net revenue from the EMEA region said it planned to use proceeds from the offering to reduce its principal debt amount and make strategic investments in the business.
Last week, it raised its baseline annual sales forecast, as beauty consumers continued to spend on its luxury brands, despite long-term inflation.
