1 – ‘Rising powerhouse’: Gen Z and millennial insights key to Aextrapacific taking 38.4% stake in COSRX
Information of the Gen Z and millennial shopper mixed with a burgeoning worldwide popularity are two of The causes Korean primary Aextrapacific has taken a 38.4% stake in cult K-magnificence mannequin COSRX, As a Outcome of it appears to increase its personal footprint overseas.
Based in 2013 by Jeon Sanghoon, COSRX is biggest acknowledged for delicate pores and skin merchandise like its Low pH Good Morning Gel Cleanser, BHA Blackhead Power Liquid, and Pimples Pimple Grasp Patch.
Aextrapacific introduced that it had decided To accumulate An monupsychological minority stake for KRW180bn (U$153m) Inside the “emerging powerhouse” as An elemalest of its Imaginative and prescient 2025 Method to enter new markets overseas.
“We now have been Looking for a companion to share The worth Of latest Beauty as said in our ‘Imaginative and prescient 2025’, which we declared this yr as An elemalest of the celebration of our 76th anniversary,” said Lee Jinpyo, head of Aextrapacific group technique division.
2 – Restoration beneathtechnique: L’Occitane Q2 gross sales rebound to surpass pre-pandemic ranges by 7%
Hong Kong-listed L’Occitane’s latest quarterly gross sales figures of the 2022 fiscal yr have outpershaped these from earlier than the pandemic As a Outcome of of the efficiency of key styles, on-line gross sales and offline recovery.
L’Occitane International is the producer of magnificence and properly-being merchandise with styles Similar to L’OCCITANE en Provence, Melvita, Erborian, and ELEMIS beneath its banner.
In the second quarter of its 2022 fiscal yr, L’Occitane recorded a gross sales progress of 11.4%. As in contrast with pre-pandemic ranges in FY2020, the group delivered velocity upd progress with internet gross sales up 7.0% on a like-for-like basis.
The group recorded gross sales progress of 11.4% Inside the second quarter of the fiscal yr. L’OCCITANE en Provence recorded progress of 10.9% whereas ELEMIS reported velocity upd progress of 42.6%.
3 – Buying spree: India’s Good Glamm Group earmarks U$100m To accumulate 4 To six extra magnificence styles
India’s newly-shaped digital cosmetics outfit Good Glamm Group is planning To accumulate 4 To six extra digitally-led magnificence styles after receiving an infusion of funding.
India-based mostly direct-to-shopper magnificence mannequin MyGlamm recently introduced the formation of The good Glamm Group was founded by direct-to-shopper magnificence mannequin MyGlamm in an Try and consolidate its place as a ‘Digital House of Manufacturers’ powered by a content material-to-commerce technique.
The mannequin newly shaped group is a consolidation of digital styles collectively with feminine digital group POPxo, Influencer market Plixxo, and mum and baby platform BabyCharkra.
Together, the group has a internetwork of over 100 million clients, 220,000 influencers and 10,000 docs. Furtherextra, It might faucet into MyGlamm’s 20,000 offline level-of-gross sales.
4 – Biotech startup Sequential Skin raises €1.4m – ‘We now Want to velocity up The biggest technique forward for pores and skin well being,’ says CEO
UK-Singapore headquartered biotech start-up Sequential Skin has secured extra funding in its latest seed spherical that it plans To make the most of for worldwide enlargemalest of its at-home pores and skin diagnostics patch, in each a B2B and D2C performance, its CEO says.
The latest seed spherical raised €1.42m ($1.65m) and was led by Estonian early-stage investmalest agency Mefaucetlainternet, supported by Scrum Ventures, SOSV, Genedant and angel investor Ben Holmes. The investmalest launched complete enterprise funding for Sequential Skin to €1.85m ($2.15m) in 2021, all of Which might be …….