Gross margin growth expected in personal care, despite surge in oil price
European personal care companies should enjoy “strong gross margin growth” despite the recent surge in the oil price, says Bernstein Research.
Interactive timeline of the ugly economy and the beauty industry
Cosmetics Design has created an interactive timeline of the major news stories on job losses, corporate failure and restructuring in the cosmetics industry over the past six months to give readers a new perspective on the impact of the economic crisis.
Private label and cheaper brands win out as recession bites
Consumers are continuing to turn their backs on premium cosmetics in favour of less expensive and private label brands, as a new market report underlines a further tightening of purse strings.
BASF opts out of care chemicals price war
The head of BASF’s care chemicals business said the company refuses to be drawn into a price war to compete in the depressed market for personal care ingredients.
Appointment of new Physicans Formula CFO threatens NASDAQ listing
Physicians Formula has received a NASDAQ Staff Deficiency Letter threatening the company with delisting if it does not fulfill requirements for its executive board.
Cognis reports sharp drop in quarterly sales
German specialty chemicals firm Cognis has posted a net loss of €33m for the first quarter following a sharp drop in turnover.
Dealmakers search for acquisition bargains in cosmetics and pharma
Corporate bargain hunters are looking for good buys in cosmetics and healthcare as the economic downturn throws up a range of acquisition opportunities.
L'Oreal reports limp sales as luxury takes a tumble
L’Oreal reported flat first quarter sales but differences between divisions were marked with luxury and professional product sales being the hardest hit.
Symrise restructures as first quarter profits suffer
Symrise is closing a production facility in Spain as part of restructuring plans which aim to improve the company’s bottom line.
BASF reports sales slump and cuts 2,000 jobs
BASF has announced plans to cut about 2,000 jobs by the end of the year after first quarter sales fell sharply.
In-cosmetics panel gets under the skin of the recession
A panel of beauty experts gathered at in-cosmetics in Munich last week to examine the latest data on the cosmetics industry and diagnose its financial health.
European Commission imposes conditions on BASF’s acquisition of Ciba
BASF is now one step closer to acquiring Ciba but had to promise to share cosmetics know-how and sell businesses to get the €3.8bn deal accepted.
Avon rating downgraded on currency weakness and CEE gloom
Citing currency weakness and overexposure in the Central and Eastern European (CEE) market, an analyst has downgraded Avon's outlook for 2009.
Dow settles differences with Rohm and Haas
Dow Chemical’s acquisition of Rohm and Haas will go ahead after the companies reached an agreement that eases Dow’s debt burden.
Beiersdorf says acquisitions are still possible as results defy downturn
Beiersdorf announces strong sales growth and beats earning forecasts, adding that it will remain acquisitive in 2009 if the right opportunities arise.
Raw materials and acquisition costs drag earnings down for Symrise
Sales increases at fragrance and flavour company Symrise were not enough to keep net income from slipping in 2008.
Value cosmetics will be key to beating the economic downturn
With word out that consumers are increasingly focused on value for money, providing personal care products that fulfill this criteria is now the big challenge facing manufacturers.
BASF’s outlook for 2009 is weak after a difficult fourth quarter
BASF expects a drop in sales and an even greater drop in operating income in the coming year.
Risdon International considers bankruptcy
Risdon International is considering bankruptcy and has temporarily shut down cosmetic packaging operations in the US.
Budelpack Holding calls in adminstrators to save leading contract manufacturer from collapse
Budelpack Holding has called in the administrators putting the future of one of Europe’s largest contract manufacturers of cosmetics in doubt.
L'Oreal reports drop in sales as results miss target
L’Oreal has reported a fall in sales in the last quarter of 2008 bringing years of high growth rates to an abrupt end.
Consumer goods sector to up graduate recruitment in 2009
Consumer goods, including cosmetics, may be one of the few sectors in the UK recruiting more graduates this year when vacancies in general are predicted to fall for the first time since 2003.
Unilever and L'Oreal battle with retailers as crisis bites
Relations between retailers and suppliers are growing increasingly tense as the financial crisis takes its toll on both parties.
Lipotec executive predicts cosmetics clean up
Economic storms will clear the dead wood from an increasingly crowded active ingredients market, says Lipotec executive.
Unilever buys TIGI professional hair care business
Unilever is buying the TIGI professional hair product business from the owners of Toni & Guy for $411.5m in cash.
Inter Parfums suffers end of year sales dip
Inter Parfums has left its sales forecast for the year ahead unchanged despite reporting a 16 per cent decline in turnover to $100.6m for the final quarter of 2008.
Beiersdorf should abandon 2010 targets, says report
Bernstein Research has called on Beiersdorf to scrap its 2010 market share and margin targets, or risk damaging the business.
Report slams L'Oreal management and predicts tough 2009
L’Oreal has been trading on past glories and is beginning to pay the price for years of mismanagement, according to a new report from Bernstein Research.
Rhodia acquires McIntyre to build up cosmetics business
France-based Rhodia has acquired the US McIntyre Group to build on its presence in the personal care and oil surfactant categories as a means of maintaining growth.
Ecoflation could hit companies hard in the future
Companies already struggling in the current economic climate will soon have to contend with a new phenomenon, ecoflation, according to a study by ATKearney.
L'Oreal cuts sales and profit forecasts
A sluggish September has forced L’Oreal to cut its sales and profit forecasts for the financial year.
Global luxury market faces recession
The global luxury market is facing its first recession in six years, according to a recent report from Bain and Company.
Reckitt Benckiser results defy credit crunch
An increased advertising spend and new product launches have helped UK cosmetics player Reckitt Benckiser to weather tough economic conditions.
Symrise suffers from a luxury sales drop
Sales growth at Symrise was dampened in the third quarter by weakening demand at the luxury end of personal care and in fine fragrances.
Estee Lauder drops annual expectations due to uncertain times
Estée Lauder has lowered expectations for the year in the light of ‘extraordinary uncertainty’ in the global economy.
L'Oreal lets go of costly Welsh factory
L’Oreal plans to cut 200 jobs at a Welsh factory, blaming unsustainable logistical costs associated with higher overseas sales and a decline in the UK supplier base.
Shiseido ups forecast but warns of tougher times ahead
Shiseido has upped its profit forecast for the first half of the year but the company warned that business conditions will be tougher in future quarters.
New launches boost Inter Parfums' sales
A number of new launches from the Van Cleef & Arpels and Lanvin brands have helped drive third quarter sales for Inter Parfums.
Takasago expands presence in US fragrance market
Takasago International Corporation has announced the acquisition of New Jersey-based Wessel Fragrances, in an attempt to increase its global footprint.
Oriflame reports exceptionally high growth figures
Supported by a burgeoning sales force, Oriflame reported rapid growth in both turnover and profit in the third quarter.
Avon warns authorities of internal investigation
Avon has informed federal authorities of an internal investigation into alleged irregularities surrounding expenses in China.