Brand news: Revolution Beauty; Space NK; The Body Shop; Elemis; LVMH & more
Revolution Beauty: on the road to recovery
Revolution Beauty, which specialises in ‘dupe’ beauty products, has revealed stronger financial results and better profitability for its fiscal year 2024.
The UK-based cosmetics brand had been financially struggling and embroiled in a legal battle with its co-founder, but is now recovering and has adjusted its EBITDA forecast for at least £12.5m and a 2% revenue growth.
As part of its recovery plan, the company had implemented a new strategy that included a £10m cost-saving programme and a stronger focus on its core Revolution Masterbrand, as well as launching a TikTok Shop and partnering with Amazon in the US.
Space NK owner: may be prepping for a sale
British beauty retailer Space NK is said to be preparing for a sale, according to Sky News reports.
Its parent company, the private investment firm Manzanita Capital, has supposedly approached banks about initiating a sale, with an expected price tag of somewhere between £300m - £400m.
Manzanita Capital – which also owns Austrian luxury skincare brand Susanne Kaufmann and French fragrance brand Diptyque – has owned Space NK for two decades and is said to be undecided about whether to sell a minority or controlling stake in the beauty business.
The Body Shop files for bankruptcy in France
The Body Shop France has filed for bankruptcy in France and has been placed in receivership by the Paris commercial court, in a similar situation to what has happened in the UK.
The fate of its 66 stores in France hangs in the balance and there will now be a six-month observation period in order to carry out a company diagnosis and prepare a recovery plan.
Elemis to open first own-brand store
UK-born skin care brand Elemis is opening its first own-brand, standalone store in Covent Garden’s Monmouth Street.
Parent company Shaftsbury Capital has announced the move after the success of its Cleansing Lab Popup last summer.
The London quarter, famous for its theatres, and elegant restaurants and boutiques, has been increasingly attracting investment from luxury beauty brands in recent years and is becoming a go-to destination for beauty shoppers in the UK capital.
Its ‘beauty quarter’ also includes standalone beauty stores from luxury brands such as Tom Ford, Chanel, Deciem, Nars, Aesop and Charlotte Tilbury.
Celine to launch cosmetics range
LVMH fashion brand Celine will debut its cosmetics range in autumn 2024 with the launch of lipstick Rouge Triomphe.
Celine’s designer Hedi Slimane has previously launched fragrances and is now set to slowly unveil a range of colour cosmetics.
The brand will launch another 15 satin-finish lip colours in January 2025, along with a range of blushers later down the line.
L’Occitane Group divests Grown Alchemist
Australian luxury skin care brand Grown Alchemist will no longer be part of the L’Occitane Group.
Instead, the brand be privately owned by the L’Occitane Group’s former CEO and existing Board Member Andre Hoffmann, who now owns a majority stake, along with Grown Alchemist’s CEO, Anna Teal, who has a minority stake.
The brand was bought for €28m and its HQ will be based in London.
According to Teal, the L’Occitane Group had been an incredible partner and supporter of the business since it had acquired a majority stake in 2022. She noted that its influence had helped Grown Alchemist establish a strong foundation for growth, as well as aided investment and new market entry.
“We see this acquisition of Grown Alchemist as an opportunity to accelerate brand growth, as we gain more strategic flexibility and autonomy outside of a listed group,” she said.
