Weekly Newsletter - 23.05.2024

E.l.f. Beauty's Board Diversity Campaign and Seamless Tech x Beauty Fusion to Drive Innovation

Author

Priscilla Soedarpo
May 23, 2024 • Estimated Reading Time: 4 minutes

THE LATEST IN BEAUTY AND COSMETICS

Bella Hadid launches Orebella, a unique fragrance line with a bi-phase formula. Available May 2 online, it features three scents and emphasises vegan, cruelty-free standards. The brand will also be sold at Ulta Beauty.

E.l.f. Beauty launches the "So Many Dicks" campaign to promote diversity in U.S. corporate boards. With bold Wall Street ads, the initiative highlights the disparity and aims to normalise diversity for better business outcomes.

Skinidea debuts MDP, a new skincare line for the US, as part of its global expansion strategy. Post-acquisition by MSPE, the company targets untapped K-beauty markets and plans to revamp its MEDIPEEL brand internationally.

Beauty and wellness brands like Chillhouse and Maybelline New York support Mental Health Awareness Month with donations, partnerships, and campaigns. They aim to destigmatize therapy and improve mental health services access.

Editors spotlight three promising startups at In-Cosmetics Global 2024: ExoLab Italia's plant-derived exosomal technologies, Haut AI's AI-driven skin analysis, and Potion AI's innovative ingredient search tool, signalling future market impacts.

The beauty industry embraces technology, offering personalised skincare, virtual try-on tools, AI assistants, and sustainable innovations. Brands like FOREO, Sephora, and Biossance lead with tech-driven products and marketing, reshaping consumer experiences and industry practices.

BRAND EXPANSION: VECTOR CONSUMER
Vector Consumer Bolsters Collagen Market Presence 

Vector Consumer acquires Dose & Co. and Pura Collagen, aiming to double its $9 million revenue. The strategy includes global expansion, Amazon sales, and further brand acquisitions targeting $5-37 million in annual sales.

The U.S. beauty industry reports a 9% increase in Q1 sales, with skincare and fragrances leading. Makeup lags but shows promise in lip products. New launches and Gen Alpha's influence drive market dynamics, despite a general slowdown.