WWD Beauty Inc Top 100 Shows, China Has Been An

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a special edition of

The 2018 BeauT y Top 100

Back on track how alex keith is driving growth at p&g Beauty 2.0

Mass MoveMent The Dynamo Propelling CVS’s Transformation

all the Feels Skin Care’s Softer Side

higher power The Perfumer Who Dresses the Pope

Beauty Inc Full-Page and Spread Template.indt 3 4/3/19 10:26 AM TABLE OF CONTENTS 22 Alex Keith shares her strategy for reigniting P&G’s beauty business.

IN THIS ISSUE 18 The new feel- 08 Mass EffEct good facial From social-first brands to radical products. transparency, Maly Bernstein of CVS is leading the charge for change.

12 solar EclipsE Mineral-based sunscreens are all the rage for health-minded Millennials. 58 14 billion-Dollar Filippo Sorcinelli buzz practicing one Are sky-high valuations scaring away of his crafts. potential investors?

16 civil sErvicE Insights from a top seller at Bloomies. fEaTUrES Francia Rita 22 stanD anD DElivEr 18 GEttinG EMotional Under the leadership of Alex Keith, P&G is Skin care’s new feel-good moment. back on track for driving singificant gains in its beauty business. 20 thE sMEll tEst Our panel puts Dior’s Joy to the test. 29 thE WWD bEauty inc ON THE COvEr: by Sorcinelli Simone Lezzi; top 100 Alex Keith was 58 rEnaissancE Man Who’s on top—and who’s not— photographed Meet Filippo Sorcinelli, music-maker, in WWD Beauty Inc’s 2018 ranking of by Simone Lezzi photograph taker, perfumer—and the world’s 100 largest beauty companies exclusively for designer to the Pope and his entourage. by sales. WWD Beauty Inc.

WWD IS A REGISTERED TRADEMARK OF FAIRCHILD PUBLISHING, LLC. COPYRIGHT ©2019 FAIRCHILD PUBLISHING, LLC. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. VOLUME 214, NO. 25. Friday, April 26, 2019. WWD (ISSN 0149-5380) is published weekly

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BINC_TOC.indd 1 4/17/19 5:31 PM Shiseido is Japanese Beauty. Japanese Beauty is Shiseido.

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Untitled-16 1 4/10/19 12:29 PM EDITOR’S LETTER Jenny B. Fine ExEcutivE Editor, bEauty JenniFer weil EuropEan bEauty Editor Allison Collins bEauty FinancE Editor AlexA tietJen prEstigE bEauty and digital Editor ellen thomAs bEauty Editor, mass markEt

JAmes FAllon ExEcutivE Editor, Fairchild Fashion mEdia miles soChA Editor in chiEF, WWd Pete Born Editor at largE, WWd

ContriButors sAmAnthA Conti (london) Joelle dideriCh (paris) luisA zArgAni (milan) sAndrA sAliBiAn (milan)

CoPydesK mAureen morrison-shulAs copy chiEF dAnielle gilliArd, deAnnA mArtin copy Editors

Art dePArtment JessiCA sArro art dirEctor lyAnne nAtividAd dEsignEr tess donlevie Junior dEsignEr Chart toppers Photo Ash BArhAmAnd photo dirEctor JennA greene dEputy photo dirEctor ack in 2015, when Procter & Gamble announced it was selling 41 JilliAn sollAzzo photo Editor george Chinsee photographEr beauty brands to Coty Inc., the words “transformational deal” often accompanied the news. But the phrase was used most often to describe BeAuty inC Advertising PAul Jowdy chiEF businEss oFFicEr and publishEr, WWd and Fairchild livE the impact on Coty rather than P&G. Fast-forward to 2019 and the exact stePhAnie siegel vicE prEsidEnt, salEs and markEting opposite has proven to be true. rAChAel desAntis bEauty dirEctor After shedding the underperforming aspects of its business, P&G digitAl/mArKeting/CreAtive serviCes suzette minetti sEnior brand managEr Beauty is thriving under the leadership of Alex Keith. A company CAss sPenCer crEativE dirEctor, markEting veteran who was part of Olay’s leadership team during its glory days in the late Nineties/ lAuren-Ashley sPenCer sEnior managEr, intEgratEd markEting lAney KAy digital stratEgist Bearly Aughts, Keith returned to beauty in 2014 to head up skin and personal care. In ProduCtion just two years, she achieved what few thought possible: She turned around the once Kevin hurley production dirEctor John Cross production managEr floundering Olay skin-care business. In 2017, Keith added hair care to her portfolio and she now carries the title chief PrePress ProduCtion therese hurter prEmEdia spEcialist executive officer of P&G Beauty, making her the only female ceo of a top 10 beauty Alex shArFmAn digital imaging company. Under Keith, beauty is P&G’s fastest-growing category, and the company has summits & events even jump-started its acquisition strategy. mAry Ann BACher ExEcutivE Editorial dirEctor Alexis Coyle vicE prEsidEnt and gm, Fairchild livE + WWd I sat down with Keith for a wide-ranging conversation on how she’s been able to ChAvAughn rAines dirEctor oF ExpEriEntial markEting

effectively implement change, where she sees the most opportunity—and challenges—as FAirChild PuBlishing llC she builds P&G Beauty 2.0 and what’s next for the CPG behemoth. Turn to “Stand and miChAel Atmore Editorial dirEctor, FootWEar nEWs and dirEctor oF brand dEvElopmEnt Deliver” on page 22 for her insights on these topics and much more. ron wilson dirEctor oF EuropEan opErations Restoring growth to Olay’s business in China has been one key to the turnaround of Quin ACCiAni public rElations dirEctor P&G’s beauty business. As the 2018 WWD Beauty Inc Top 100 shows, China has been an

integral growth factor for most of the multinationals in the industry. In fact, Asia Pacific fairchild Publishing llc is a division of Penske media corPoration overtook North America as L’Oréal’s number-two region in 2018, and is soon expected JAy PensKe chairman & cEo to take over the top spot. Speaking of top spots, L’Oréal retained its ranking as the world’s largest beauty george groBAr chiEF opErating oFFicEr gerry Byrne vicE chairman company, by sales, with Unilever holding on to the second spot and the Estée Lauder CrAig PerreAult ExEcutivE vicE prEsidEnt, businEss dEvElopmEnt Cos. number three. For the year, total sales for all companies reached $223.21 billion, todd greene ExEcutivE vicE prEsidEnt, businEss aFFairs and gEnEral counsEl deBAshish ghosh managing dirEctor 6.4 percent higher than 2017, with the top 10 firms generating 56.6 percent of total Top JenniFer Connelly sEnior vicE prEsidEnt, product 100 revenues. The complete list starts on page 29. As you’ll see, we’ve also introduced Ken delAlCAzAr sEnior vicE prEsidEnt, FinancE tom Finn sEnior vicE prEsidEnt, opErations a new format, which we hope makes the wealth of information in the Top 100 easier to nelson Anderson vicE prEsidEnt, crEativE analyze and digest. I’d love your feedback on this and all of the stories in this issue of Joni AntonACCi vicE prEsidEnt, production opErations stePhen BlACKwell hEad oF portFolio salEs WWD Beauty Inc. Email me at [email protected] and let me know what you think. gerArd BrAnCAto vicE prEsidEnt, pmc digital acquisition young Ko vicE prEsidEnt, FinancE gABriel Koen vicE prEsidEnt, tEchnology Kevin lABonge vicE prEsidEnt, global partnErships and licEnsing noemi lAzo vicE prEsidEnt, customEr ExpEriEncE and markEting opErations BriAn levine vicE prEsidEnt, rEvEnuE opErations Judith r. mArgolin vicE prEsidEnt, dEputy gEnEral counsEl Julie trinh vicE prEsidEnt, global tax lAuren uteCht vicE prEsidEnt, hr and corporatE communications tAriK west vicE prEsidEnt, human rEsourcEs ChristinA yeoh vicE prEsidEnt, tEchnical opErations Julie zhu vicE prEsidEnt, audiEncE markEting and subscriptions niCi CAtton associatE vicE prEsidEnt, product dElivEry gurJeet ChimA sEnior dirEctor, intErnational markEts Jenny B. Fine eddie Ko sEnior dirEctor, advErtising opErations Andy limPus sEnior dirEctor, talEnt acquisition @jennybefine Amit sAnnAd sEnior dirEctor, dEvElopmEnt KArl wAlter sEnior dirEctor, pmc contEnt miKe ye sEnior dirEctor, stratEgic planning and acquisition ConstAnCe eJumA dirEctor, sEo lAurA ongAro Editorial and brand dirEctor, intErnational KAtie PAssAntino dirEctor, businEss dEvElopmEnt dereK rAmsey sEnior product managEr

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BINC_EditorsLetter+Masthead.indd 6 4/18/19 12:23 PM Publication: Beauty Inc Ship Info: Beauty Inc IO #: None Fry Communications | Building 4 Issue: 2019-04-20 (APRI) 101 Fry Drive Ad Type: P4CB Mechanicsburg, PA 17050 Client: Christian Dior Perfumes LLC - 435539-01 B: = 10.25” x 12.25” Attn: Prep Supervisor Project: 2019 AD WORK T: = 10” x 12” T: 800-334-1429 Campaign: April 20 Pubs - Dior Ad Work S: = 9.5” x 11.5” E: None Creative: JOY Proofs: 1 AE: LL B:10.25” T:10” S:9.5” B:12.25” S:11.5” T:12” DIOR.COM

435539-01_Dior-JOY_BeautyInc_April20_2019_P4CB.inddUntitled-44 1 1 4/12/19 7:304:35 AMPM

33 East 17th Street, New York, NY 10003 • 646-230-1900

Contact Erica Ventura with any questions regarding these materials. ph: 646-929-5060 email: [email protected] Beauty Bulletin Master Class

Mass EffEct Under Maly Bernstein, CVS has led the charge for change in the mass market beauty world. By Jenny B. Fine

Maly Bernstein talks a mile a minute, and her rise at CVS Health has been equally as meteoric. She joined the retail behemoth six years ago as head of beauty and, since then, has added personal care to her portfolio. Today, she’s vice president of both categories, and a key architect of CVS’ beauty modernization strategy. In a channel that is often slow to embrace change, Bernstein’s ability to synthesize market trends and render them relevant for CVS has been a true game changer. Take the impact of social media on beauty, for example. Bernstein created and executed a strategy called Beauty in Real Life, which connects the dots between brick-and- mortar retail, direct-to-consumer brands, hair and makeup services in conjunction with Glamsquad, and content creation. She’s added K-beauty and clean beauty, mainstreamed multicultural brands and has been at the forefront of the move toward radical transparency with Beauty Mark, CVS’ pledge to ban beauty images that have been materially altered. The strategy is working: CVS Health reported Maly Bernstein that overall revenues increased 5.3 percent to $194.6 billion for 2018. Although the retailer doesn’t break would help you unwind and be thoughtful. I loved and the experience retailers were providing out beauty sales, industry analysts say it is outpacing also that it was about trend—in nonfiction, people had changed. Our goal was to find our unique market competitors in terms of sales gains. want the latest and greatest news and topics. position that customers would see as completely Bernstein, who has an MBA from Harvard, i’ve been at CVs for six years. What I realized ownable and was something they were dying for clearly loves beauty, but started her retail career was that everything around us had transformed in in the marketplace. in books, at the Canadian retailer Indigo Books. beauty and that what got us here wouldn’t get us For me, it’s about the democratization of There, she gained some valuable insight about there. We realized we had to look at ourselves and beauty. Our big “aha” was we have always been how to create a compelling consumer experience ask, “What do we need to do to be relevant in this there for her as a part of her life. Beauty is one in the age of Amazon. The experience has served completely new world of beauty?” of her first loves at CVS, and how she starts her her well. “Thankfully beauty hasn’t been like the CVS had grown a lot through acquisitions. We relationship with us. book industry just yet,” Bernstein says. “But we had nailed reach and we were at a point where Beauty in real life means guilt-free, stress- always have this healthy paranoia to constantly we had to nail relevancy. Today, where two-thirds free, “me” time. Accessibility and convenience reinvent ourselves to make sure we are the ones of purchases are influenced by social media, are guilt-free. Stress-free is access to trend and leading the revolution in beauty.” Here, she talks where innovation is coming from digitally native trusted products. “Me” time is all about fun time. about driving change in a crowded category. brands, where 80 percent of our consumers are When we think about being relevant to i started my retail career in the book telling us they follow fashion and beauty trends Millennials, we need to make sure we’re delivering industry, as director of nonfiction at Indigo Books. and 90-plus percent are digitally savvy and the experiences she wants in store, as well as I learned early on it wasn’t about just the product— posting up to three times a week, we realized on-the-go services and favorite online brands. it was the story we were telling. It was about our customer had changed, that the brands that As we think about the evolution of beauty in the creating the experience with all of the things that were leading innovation and growth had changed drugstore format, we created the Beauty IRL new

8 wwd beauty inc Photograph by RicaRdo Beas

BINC_Masterclass.indd 1 4/16/19 12:03 PM B:10.25” T:10” S:9.25” B:12.25” S:11.25” T:12”

Untitled-12 1 4/9/19 1:48 PM

49 West 23rd Street, 10th floor New York, NY 10010 1 Olay_WWD_single_0519_Mama_v1.indd 212 533 3222 Saved at 4-9-2019 1:07 PM from Theodore’s iMac by Theodore Beck / Tad freelancer Printed At None

JOB INFO APPROVALS FONTS & IMAGES JOB None Creative Director FONTS CLIENT P&G-Olay Producer None MEDIA Print Ad Copy Writer LIVE 9.25” x 11.25” Account Manager IMAGES TRIM 10” x 12” Other 01_190112_OLAY_LA_326-65.tif (CMYK; 323 ppi; 92.87%) BLEED 10.25” x 12.25” PUBS WWD: April 2019 NOTES INKS Cyan, Magenta, Yellow, Black Please watch magenta shift in skin tone. Match proof provided. Beauty Bulletin Master Class

There is an opportunity to do omnichannel better, Beauty irl is centered around as well as to start erasing lines across brands and socially savvy brands. retailers. When I think about the Beauty Mark, why not have us as an industry adopt a standard set of principles we want to stand by for consumers. When it comes to brands, customers want accessibility. How can we support customers in getting what they want, as opposed to only certain brands in certain channels. In terms of brands we would love to have, as we think about what we want to stand for, the brands that are connected back to fashion and clean beauty are the two areas that we’re in hot pursuit of. We see clean beauty accelerating in skin care most quickly, and in hair care, a lot of Indie brands in the natural and natural-inspired space are growing quickly. In color cosmetics, brands are playing into the purpose-driven change by announcing a lot more cruelty-free in their processes and testing. As for natural color, we are seeing some, just not as big and fast as other categories. Brands are still trying to figure out the balance between color store format, which is an expanded and redesigned diversity. When the big brands innovate, I’d love for payoff and ingredients. That area is dear to my beauty department to focus on those three things. them to think about pushing the boundaries to make heart—I would love to see it grow quickly and hit Where our drugstore pulls her in is the that kind of wave in the industry. Category-wide a tipping point. I was hopeful Burt’s Bees would convenient aspect of trending and trusted changes as opposed to segments within color. play that role, and it is starting to make headway. product. We want to make sure we are a fun We have evolved into an agile beauty At CVS, we want to make sure we are taking place to try the social brands she loves, but also retailer. We created our Beauty IRL format as brands that are demonstrating their ability to to try the trends in real life with convenient learning labs. At any point, we can go in and make grow their fan base and resonate with customers. access to trusted product. Our reason for being modifications and take insights and send this to We want to take brands into the mainstream and is convenient access to trends and trust. We the rest of the team. For example, we realized bath make them bigger. Our place is as an accelerator are seeing double-digit growth in naturals, for bombs are a thing, but even more fun when you versus the one to launch brands as a concept. example, and clinically backed brands. can put them on a carnival cart—which makes in terms of upcoming trends, definitely the We signed a deal with Glamsquad to do you feel like you’re shopping for candy or donuts. rise of CBD. We will continue to see clean beauty mini services in our format—so on a Friday We’ve expanded that to thousands of stores in sharpen its definition and expand. We’ll see beauty date night or girls’ Galentine event, customers our chain within three months. We’re able to take inclusion happen not just in formulations but also can come in for hairstyling, makeup, ear piercing. something we’ve tested and very quickly see the in imagery, and transcend different categories. How We bring Glamsquad to life through services, customer feedback and make it more accessible. do we make sure we are solving for textured hair, but it also allows us to offer pro tips and tricks People don’t buy beauty to look good. They buy for example. I’m also excited for men’s grooming. through customer communications. That way, we to feel good. That feeling is about overall well-being I like to say, hashtag man up. Men are doing facial not only provide promotions, which we know our and health. We asked how can beauty contribute masks, grooming their beards and thinking about customers love, but make sure they are getting to helping people on their path to better health? skin care in ways we haven’t seen in the past. content through our relationship with Glamsquad. There are ads, especially in beauty, that perpetuate Data analytics is a huge space for us. At Customers really want to see the connection an unrealistic standard of beauty and when we CVS, we have more than 70 million members in from social back into store and we feel like we learned that 80 percent of women feel worse when ExtraCare and 27 million in BeautyCare clubs. are evolving into the playground for the hottest they see those ads and 42 percent of girls in grades We have a lot of ways to reach the customer— social brands. We have over 30 brands in Beauty 1 through 3 identify as fat, we realized we had an whether through offers at the register or e-mail IRL and more coming, including Real Techniques opportunity to change the way people feel about or direct mail or the ability to speak to her by beauty brushes and tools, The Crème Shop, themselves and others. That’s when we launched connecting our data to other data to reach her Bliss, Sun Bum and more. We have a mixture of Beauty Mark. We’d love to see Beauty Mark become on social. What’s exciting is the ability to tailor authority and adventure in our brand mix. a cause. We’re looking at how do we connect our our relevance and rewards to what she is looking the incredible explosion of brands in color efforts with others to make this bigger than beauty? for. We are increasingly looking to individualized cosmetics is unlike anything I’ve seen. What I More to come on this. personalization and customization. We collaborate love that the bigger brands are doing is that they i’ve got beauty and personal care and with brands on customer opportunities and the are taking cues from the nimble brands and sometimes people ask what is the difference. ways in which to reach her. We have so much from K-beauty and asking how can they reinvent It is easy to say one is about the bathroom and customer data on who she is, how she shops, how themselves and become more socially relevant with the other is about the purse. They are increasingly she likes to buy, how she’s motivated, and this helps their innovation. What I’d love to see more of from converging. It is about the vanity now. Not the redefine how we speak to our customers. Big data the big brands is wholesale category change in bathroom or the purse, but the vanity. and personalization was a big part of our growth their innovation. The Fenty launch redefined all of i’d love to see a revolution happen in beauty in 2018 and a big part of how we were able to lead foundation and the desire for beauty inclusion and such that there is much more blurring of lines. growth and buck the trend in mass beauty. ¢

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BINC_Masterclass.indd 2 4/16/19 12:03 PM Untitled-39Untitled-41 1 4/12/194/12/19 11:50 1:33 PMAM Beauty Bulletin Shelf life Solar EclipSE Chemical-free sunscreens are quickly gaining popularity

as scrutiny on the category 2 increases. By ellen ThomaS

With the potential dangers of chemical sunscreen ingredients up for debate in recent news, consumers are paying more attention than ever to SPF 4 formulations. From Hawaii’s 3 ban on sunscreens containing chemicals harmful to coral reefs to this year’s FDA proposal to update sunscreen regulations in the U.S., oxybenzone is out and mineral actives titanium dioxide and zinc are in. Mintel research 5 shows that Millennial consumers are most interested in physical blocks—19 percent of 25- to 34-year-olds surveyed choose mineral formulations, and that number is growing. “It ties to 1 consumer demand for natural ingredients,” says beauty analyst Alison Gaither. “ To them, mineral feels better and safer 6 than traditional sunscreen.” Here, a look at the newest mineral-based launches for spring.

1. BaBo Botanicals tinted Face Mineral sunscreen stick sPF 50, $15.95

2. coola Mineral sunscreen sPray sPF 30, $42 8

3. environ rad Broad sPectruM sPF 30, $36

4. ren clean skincare clean screen Mineral MattiFying Face 7 sunscreen sPF 30, $36

5. ava isa Pure untinted Facial sunscreen sPF 45, $40

6. avène tinted Mineral Fluid sPF 50+, $28

7. eMinence organic skin care lilikoi light deFense Face PriMer sPF, $62 8. Blue lizard australian

sunscreen sensitive Stammer Melissa sPF 30, $18.99 Styling by

12 wwd beauty inc Photograph by Joshua scott

BINC_Launch Pad.indd 1 4/16/19 12:06 PM Untitled-14 1 4/10/19 9:04 AM Beauty Bulletin money inc. Billion- Dollar Buzz The phrase “billion-dollar brand” is buzzier than ever, but are sky-high valuations scaring away potential investors? By allison collins

Are billion-dollAr vAluAtions going to bust the beauty M&A bubble? There’s a lot of talk about billion-dollar brands in the hot beauty M&A market, but the last billion- dollar brand acquisitions took place in 2016 with L’Oréal paying $1.2 billion for It Cosmetics and the Estée Lauder Cos. Inc. paying $1.45 billion for like skin care for La Mer, for example. Williams, estimates that many groups have Too Faced. Since then, strategic buyers have been Scalable distribution is next on his checklist. come down from looking at companies that are more focused on acquiring capabilities. And while “You need a path to matching brand quality, between $50 million to $100 million in net sales relative newcomers to the field—Glossier, Drunk brand aspiration, with customers,” Demsey to those between $20 million and $50 million, Elephant, Huda Beauty and Pat McGrath—are says. “Whether that’s multispecialty stores or and sometimes, even smaller. sporting valuations of more than $1 billion, their freestanding stores or third-party platforms “The strength, positioning and the voice of the net sales are far below that. Those companies, for online or department stores, you need to have brand, along with that consumer connectivity, are example, didn’t crack this year’s Top 100. some sort of distribution model that’s scalable.” really key,” she says. To build a brand with $1 billion in annual sales A strong business in China is also essential. Hamilton agrees that for some brands, it usually takes decades. For most brands, that level “The Chinese market is expansive and simply doesn’t make sense for $1 billion to be of expansion doesn’t arrive until after they’ve sold dramatically growing, with tens of millions of the goal. “It is, in a way, a counterpoint to the the business to a strategic acquirer. According women and men entering into the consumer freedom and joyfulness of a young Indie brand to John Demsey, executive group president at class on a yearly basis, so that piece is super where you can touch everything and you know the Estée Lauder Cos., brands like La Mer and important,” Demsey says. your consumers and you don’t have to have a big Jo Malone—one of which does more than $1 Carol Hamilton, group president of acquisitions team,” she says. billion in retail sales, and the other of which is at L’Oréal, agrees that international distribution But in an expanding beauty environment, there is close—were significantly smaller pre-acquisition. is a key step—but says that really honing likely room for a few more billion-dollar businesses. Kiehl’s was said to be doing about $40 million the identity of a brand in its home market “The luxury, prestige beauty business continues to in sales when L’Oréal bought it in 2000, and is foremost. “You need to have such a well- grow, empowered by new channels of distribution, didn’t surpass the 1 billion euro mark until fall constructed brand in the market of origin that it’s new models of selling and new emerging markets 2017. Olay, now one of two powerhouse skin-care virtually perfect. The more you scale, the more with more aspirational customers. The pond to fish brands in the P&G portfolio, was said to be in the the imperfections become visible,” Hamilton in is getting bigger, and…within that pond, there’s tens of millions when the consumer packaged says. “To scale globally, you have to have the right opportunity for other brands, including our own, to goods giant acquired it in 1985. team, understand the global markets and do it at scale up,” Demsey says. Strategic expertise is one way a brand can the right pacing or you’re not going to be able to McPhilliamy believes the goal is one that reach the billion-dollar mark, but implementing manage the scale of your business.” makes sense on the strategic side. “For consumer the same techniques a strategic would use to Because of valuation implications, strategic companies, achieving billion-dollar status has grow a brand is another. Experts say that brands buyers aren’t necessarily on the hunt for brands been a special club, one that’s reserved for the need to truly develop an airtight proposition, a that already have $1 billion in sales. Brands don’t world’s most valuable brands,” she says. “It’s stronghold in at least one category and a scalable even necessarily have to be able to scale to that a significant achievement, and top consumer distribution model to reach stratospheric sales. point to attract interest. companies, not just in beauty…actively measure “Not every brand is a global player, and not every “Not everything we do is based on absolute the number of billion-dollar brands in their brand is able to go from a fad or trend into a volume,” says Demsey. “We want to cover every company and compare them to peers.” sustainable business,” Demsey says. “First and segment of the prestige and luxury market.” So, does the billion-dollar Indie generation foremost, you need to have a brand,” he says, with These days, strategic buyers are trickling have the power to actually get to $1 billion in products that drive repeat purchases. Brands also way further down market than they used to. sales? Only time will tell. Says one financial need a “reference point in at least one category,” Kelly McPhilliamy, managing director at Harris source, “Some do, some don’t.” 

14 wwd beauty inc Illustration by Matthew Billington

BINC_MoneyInc.indd 1 4/16/19 12:07 PM Untitled-3 1 4/5/19 12:53 PM Beauty Bulletin civil service

easy-to-navigate beauty aisles appeal to younger shoppers.

eye makeup, not even mascara. And also bright colors on the eyes—neons, vibrant blues, greens.

WWD: What’s your most memorable sale? E.G.: What sticks out for me is making a connection with somebody. I don’t look at it as evealease Garcia a sale—I look at it as a relationship starter. When someone is so excited that they want to give me a big hug because they feel so grateful and happy In the Center of It All that someone is actually listening to them and giving them the products they’re looking for, those Evealease Garcia is one of three executive beauty stylists at Bloomindgale’s, are the moments that stand out for me. trained across all of the floor’s offerings to provide brand agnostic advice. WWD: What are some of the most common By Jenny B. Fine questions you get? E.G.: How can you help my skin? What WWD: How did you get into beauty? where to go and someone was constantly wanting foundation should I be wearing? Those are the Evealease Garcia: About 10 years ago, I started to show you something. Looking at how we’ve standards and usually lead to me asking more doing makeup for friends for weddings and revamped this floor, it’s a lot easier for people to in-depth questions. When it comes to skin care, events, and someone planted the seed that see what’s going on and interact with us instead I ask first about someone’s current routine, to get I should consider doing it professionally. of having that wall where you put the blinders up. an idea of how many steps they’re doing, how much time they have, what textures they like. WWD: What’s your service philosophy? WWD: What trends are super hot for spring? With foundation, I like to use the pantyhose E.G.: When I first started in beauty, I wasn’t fully E.G.: Definitely glossy skin, almost like a wet reference. You think of sheer pantyhose as you comfortable with approaching people or confident look. Glitter is really big, which I’m excited about, pretty much still see all of the skin on your legs, in assisting them. But now, everyone has learned because it’s fun and anyone can wear it. I’m also and then a little bit more where everything is so much about beauty, it’s almost like having a seeing a very clean, simple bold red lip, with no even, but you still see some skin peeking through, conversation with your girlfriend. By really listening or you’re full-coverage opaque, where you’re not to their needs, their day-to-day, how much time seeing your legs at all. Clients love that reference somebody has, their personal skill set, I’m able because it allows them to visualize. to give them exactly what they’re looking for. WWD: If you could talk to the ceo of a beauty WWD: How has the increase in consumer company, what would you tell him or her? knowledge impacted how you do your job? E.G.: Be more hands-on with the artists and E.G.: It pushes us to learn more. We as beauty people who are day-to-day—we hear what people advisers really need to know about science, are looking for and talking about, so if they did ingredients, how products are made. It keeps us on a survey to learn what we’re hearing every day, our toes to continually learn and stay up to date. it would be super beneficial. hinsee c WWD: Not so long ago, department store WWD: What’s the strangest request you’ve

beauty floors got a bad rap. What’s changed? ever gotten? George E.G.: Looking at it from a consumer perspective, Garcia and her E.G.: Filling in a beard! Men will sometimes ask it used to be really overwhelming to step into peers offer a how they can make their beard look fuller, so a department store, even being in the beauty number of we’ll take a brow product and fill it in for them new services. counter by eauty

industry. You didn’t know where to begin or and they think it’s the greatest thing in the world! b

16 wwd beauty inc Photographs by lexie moreland

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feel better, but look better as well.’” Wechsler realized this early on. “My patients call it one-stop shopping when they come to my office,” she says. “With a new patient, I ask a lot of open-ended questions and take a very thorough history of their skin conditions, and I also ask about their lives—things people don’t necessarily expect to be asked about at dermatologist visits, like relationships, work, sleep, diet and exercise.” According to Wechsler, the state of a patient’s mental health can cause inflammation and a weakened barrier that manifests on the skin in a host of ways, from lack of hydration to more serious conditions such as rosacea, acne, eczema and psoriasis. Not to mention, the inflammation caused by stress can trigger early aging, she says. “There’s almost always something going on in someone’s life that can be [impacting] the skin,” says Wechsler, who, alongside injecting Botox and writing Retin-A prescriptions, dispenses advice like sleeping more, stressing out less and spending more time with friends. Sarah Kugelman, president and founder of Skyn Iceland, was also an early adopter to the skin-stress connection. In 2003, health issues caused by chronic stress forced her to take a leave of absence from her career in the beauty industry for three months. During that time, she discovered holistic wellness and conceived GETTING EMOTIONAL of Skyn Iceland, a skin-care brand specifically formulated to address the effects of stress on Wellness-conscious consumers are increasingly making the connection skin, which she launched in 2005, way before between skin and stress. By EllEn Thomas wellness had gone mainstream. “A huge portion [of my customers] back then The concepT of psychodermatology, the Manhattan’s many dermatologists. Now, fueled didn’t understand,” says Kugelman. “They said, treatment of skin disorders using psychological by—what else?—wellness culture and social ‘I get the sense that it is affecting my skin, but I techniques, is quickly moving into the media, consumers are connecting the dots don’t understand what is happening—if stress is mainstream. between skin care and emotions. mental and emotional, how can it be impacting Just ask Dr. Amy Wechsler, a dermatologist who “[Wellness] has changed how consumers think my body?’ Now I don’t even get those questions.” has been putting her dual degrees in psychiatry and take care of themselves—they’re really paying A lot has changed since 2003. Mintel research and dermatology to use in her Upper East Side more attention to simple things like drinking more shows that 66 percent of U.K. women feel practice for over a decade. She even wrote a book water and exercising more, getting a good night’s that lifestyle, including stress levels, is the —“The Mind-Beauty Connection: 9 Days to Less sleep. Influencers are now talking about doing yoga most important factor when determining the Stress, Gorgeous Skin and a Whole New You.” and how that relieves stress so they sleep better and appearance of skin. Brands are responding with For years, Wechsler’s mind-beauty connection look better,” says Sarah Jindal, senior global analyst product launches that promise to combat the ethos served simply as a niche specialty at Mintel. “It’s almost as if a lightbulb has gone off effects of stress or even shift one’s mood in the that allowed her to stand out from uptown for people to say, ‘If I take care of myself I not only moment—there’s Indie Lee’s I-Recover Mind + up: K.Vertus and make Styling and model management; Wedel Model: Louise Linus Morales; #Mood The latest wave of skin-care products promises to ease the effects of emotional stress on skin. by photograph Mirror hinsee; c George odacité Blue aura cleansing Water, Indie lee I-Recover Indie lee argentum algenist alive $39, and crystal Body soak, $42 mind + Body Gel, la lune de Velours Prebiotic Balancing contour Gua sha, $48 cleanser, $138 mask, $38

$45 each shots by Product

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BINC_Wellness.indd 18 4/16/19 11:52 AM Product shots by George chinsee; Mirror photograph by Linus Morales; Model: Louise Wedel and model management; Styling and make up: K.Vertus BINC_Wellness.inddBeauty IncFull-Page 19andSpread Template.indd1 deeperfromtheirskin-careroutines. something night oftotalsleepdeprivation. a after levels a30percentriseofanxiety reported inwhichparticipants study California, Berkeley getting afulleighthours,citingUniversity of of learningmoreabouttheimportance after Feelproduct, Well +Rest Good SleepCream250, research—he wasinspiredtocreate hislatest king High ismeant tomake users“feelgood.” a feelingofcheer, whileSoF-- warmthand focus, istoprovideuserswith F--king Lit,forexample, Mists, composed ofessentialoils,are$88—So wanttoachieve.” they mind-set His skin caretocomeinandhelpbridge thegap.” “That’sproducts. produces smallbatches ofhigh-endaromatherapy Luxury,founded Necessary that a“microbrand” Sam Cheow, aformerL’Oréal whohas executive arewantingtodoforthemselves,”what they says people aregetting from slightlydisconnected and affect ouremotionalstate andwell-being, opportunity. reallydo andanxiety “Restlessness faceintheirdailylives.” they stresses tohelpcombat benefits thegrowing holistic withmore arelookingforproducts “They levels. serotonin and grapefruit, whicharesaidtoboost containsorangegrapefruit-scented facemist theYaaas moods—forexample, meant toshift wereformulatedmists withdifferent scents North Americaat alone,” says Sarah Irby, director, facecarefor efficacy isseekingmorethanproduct customer Z “OurGen connection. into theskinandstress thatstressors comewithmoderndating. ofemotional set skin-care tocombat theparticular itsownlineof in Septemberthat itisdeveloping on board—thedating appcompany announced benefits. toutingmood-boosting varieties and St.Ives Face Mists, whichcomeinthree Eye PatchologyBody Gel, MoodPatch Aromatherapy He Cheow’s aregroundedinscientific products wantstohelpconsumers“ownthe Cheow mergingofskincareandself-careisabig The Young consumers,inparticular, areplugged Even non-beauty brands like Bumblearegetting st. Skyn Gels, Iceland’s Icelandic Youth Serum mists, consumersarelookingfor alsobelieves Ives scent Face $5.99 each why Unilever. St.Ives face newest for thereisthisopportunity necessary Well sleep cream FeelRest Good+ 250, Mind-Set $55 luxury

Gua ShaBar, whichopenedthismonthat anothermoisturizer?” [just] issosaturatedmarket today—do youreallywant pain inthebody,” says Cheow. skin-care “The andaddressingphysicalan emotionsstandpoint “My themselves.”  hint, aclueabouthowtoget do theworkforcustomer, butthere’s alittle noticeit’s not even Argentum’s site. spiritual adviceassociated on withtheirarchetype canthenresearchthe cards.Customers archetype inMay, Net-a-porter Oil-to-Milk Cleanser, $138andlaunchingon aswell.”aspect deliveringonscience—it’snot just theemotional “We howyoufeelontheinside,”it reflects says Isaacs. withtheiremotions. customers her with anelementofspirituality tohelpconnect wanted togroundherscience-based,skin-careline and take 10minutesforyourself.” what you’re doing,” shesays. “You form ofmeditation becauseyou’re on sofocused canbea gua shastones at in ourfacebecausewestare the face,” says Gundry. “We guashastone. crystal rosequartz heart-shape, Kerr snapsofherKora frequentlyposts monthsthankstoInstagram; several last Miranda Gua shafacialshave riseninpopularity overthe different feelings,suchastranquility andself-love. blue sodaliteandgreenaventurine—can impart suchasrosequartz, ofcrystals sha stones—made which areformulated withessentialoils. andserumconcentrates, guashastones crystal andrelaxingfacialsusingthebrand’ssculpting Marché inParis. up20-minute barserves The istheideabehindOdacité De-stressing get “Some customers like LunedeVelours thenew With eachproduct, skinisthelargest organofyourbodyand “The Joy When usedat relaxes “I loveguashabecauseitcompletely Odacité founderValerie claimsthegua Gundry Youth serum, have a arehelpingwithwell-beingfrom products Isaacs, founderofskin-carebrand Argentum skyn Iceland Icelandic butwe’re scientificproduct, powerful, home,says Gundry, a $45 there,” says Isaacs. “We thebrand includesoneof12 quickde-stressor. “It’s intoit,somemight very somuchtension carry to moreconnected Eye computersallday.” aromatherapy have topause Tea-Infused Patchology Gels, facialusing $15 Organics Le each can’t

Bon a

CEW.org/events AwardsBeauty Luncheon 5.17.19 Epicenter ofInnovation The Masahiko Uotani:Japan, 6.18.19 6.6.19 Instagram andTribe Dynamics Content +Commerce event with 4.30.19 019 2 Top 7.17.19 Consumer Psyche Google InsightsIntothe Beauty Pinterest MasterClass 5.21.19 Trends Fragrance Insightsand Category Reviews 6.19.19 Company andSAINTJANE BEAUTY featuring CBDFor Life,Kline& The 6.12.19 BEAUTY OF STAY West Coast events: must-attend New actionable takeaways atthese Gain insights, 10 RESERVE Future ofCannabisinBeauty withEuromonitor GlobalConsumerTrends in THE Influensteron Matter: AHEAD

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inc

4/16/19 11:52 AM

4/16/19 2:51 PM

Beauty Bulletin The smell TesT

About the Test Dior Joy And Judges ¬ this is a blind test. The VerdicT: Panelists are given vials Dior Joy, the house’s first major of unidentified scent fragrance pillar after the global to judge impartially. sales star J’Adore, did not exactly each of them gives spark joy for all of our judges. While “Fruity hairspray a score ranging from points were given for elegance and top note, which 1 (forgettable) to 10 technique, they were taken away remains tutti-frutti (unforgettable) and the for what some called an “old and numbers are computed into a final grade. the powdery” scent that would surely for many hours.” Score: 3 judges, led by chairman turn off the scent’s target audience, Michael edwards, also Millennials. “Smells European, make critiques, which By ellen Thomas familiar, commercial—but are unattributed to its pieces go in all different encourage candor. directions. Too old and WWD Beauty Inc buys powdery for Millennials.” the products at retail, Score: 4 like any other consumer.

4.4 “A [Chanel Allure-esque] The esTeemed Judges The score top note on a potent white flower theme. Mmm…” out of 10 Jean-Claude Score: 5 delville cofounder, master perfumer, “Qualitative, Society of Scent. feminine, a classic modernized.” Jeanne doré Score: 7 cofounder of auparfum.com

michael edwards author of “Fragrances of the World” and “Perfume Legends.”

Victoria Frolova Fragrance industry analyst and bois de Jasmin editor.

Christophe Laudamiel Master perfumer at Dreamair.

westly morris c opeland chief commercial Officer, chemia Kate corp Fragrance “An elegant and creamy & Flavor “Invasive, vile, trite. oriental, but very

Smells like hairspray consensual. Smells like by llustrations i turned up to 11. something that would Had to open the windows sell well at Sephora Luca Turin to clear the air.” in the Nineties.” biophysicist and former perfume Score: Score: 1 6 critic for arabia. style.com Resources; Halley for “The technique is there and even a certain polish, but the

idea is not new.” Mariana Vera Score: 5 Styling by

20 wwd beauty inc Photograph by joshua scott

BINC_ SmellTest.indd 14 4/16/19 11:50 AM PRESENTED BY:

opportunity to enter a new market and job attracting authentic product users be relevant through prestige online and salon loyalists. Whatever social CURL POWER platforms and social media, coupled channel we are communicating in and with a focus on our original influencers whoever is recommending the brand, Built for curls, DevaCurl has burgeoned into a beauty empire – the professional stylist. we always want it to be genuine. We and has the spirit to scale its authentic mission-naturally. will continue to align ourselves with WWD Studios: Why now more that audience and those who have By KALEY ROSHITSH than ever is DevaCurl able to been by our side throughout their capture a global audience? journey. We are also developing an pecialized, approachable, RS: Now is exactly the right time extensive strategy for our stylists, who and always authentic, to enter new territories because the are equally as important, if not more DevaCurl is the cult favorite cultural phenomenon of embracing so, for getting the message out. indie hair care brand which one’s natural self is not just happening Meanwhile, we will be relaunching Scelebrates natural curls. in the U.S., but worldwide. Embracing our DevaCurl.com with a heavy DevaCurl’s approach to hair what you have and being proud of focus on being a true partner to the education is first rooted in its salon. your roots, your heritage and the curl community. This will include With the aid of social media, and their things that make you authentically ongoing dialogue, education, styling professional stylists, the brand has you should be celebrated. This is techniques, tutorials and product carved out a community, while creating what DevaCurl embodies as a brand. recommendations. shelf space in the homes of the curly- haired customer. WWD Studios: How do you WWD Studios: What managerial Today, DevaCurl envisions global balance being an industry veteran style brings success in your growth without sacrificing its indie Robert Schaeffler, CEO with an entrepreneurial approach? workplace? appeal. In the following interview RS: My goal is to marry true RS: I have an open door philosophy with WWD Studios, DevaCurl’s chief help bring to life are truly magical. entrepreneurial spirit with the unique with a flat hierarchy – something I executive officer Robert Schaeffler We will continue to invest in curl culture and salon heritage. For learned from past leadership roles and shares the vitality behind the 25-year the touchpoints where the curly this to happen, we will safeguard the something I believe will help DevaCurl strong brand which conditions curls community exists and make it easy uniqueness of this brand, the team continue to flourish in today’s and redefines authenticity in the for them to connect with us on social and the spirit at all costs. We will market. I believe wholeheartedly beauty industry. media, at the salon and in the stores of introduce more structure, but only in our entrepreneurial spirit and I our strong strategic retail partners like what’s necessary to scale. I plan to look to create an environment in WWD Studios: Who is the “curly Sephora and Ulta. From there, our further empower the DevaCurl team which people communicate with girl?” How does DevaCurl educate continued investment in education and to learn, take risks and share ideas. transparency, openness and honesty. and engage with this customer? the digital platforms where we know This is when people get excited, great I want the people on my team to Robert Schaeffler: Ask a curly girl the professionals are, enables a seamless things happen, and the needle moves. take ownership of their ideas. This about her hair and she will tell you connection with their customers. promotes confidence and is key to about her entire life. We know this WWD Studios: How is DevaCurl showing the team they are valued and because we hear it every single day in WWD Studios: How is DevaCurl guiding its curly-haired community have the bandwidth to grow. At the our salons, and we see it online. For pioneering a path as a true indie online and offline? end of day, it’s great people who build 25 years, these conversations have brand with global vision? RS: DevaCurl has done a phenomenal a brand and not an individual. been at the heart of everything we RS: Indie brands resonate with the do. Across all social media platforms, consumer today because consumers curly girls (and guys) are talking to want to be spoken to directly and each other and sharing stories about authentically by brands that truly the trials and tribulations of having understand them. That’s why we unmanageable hair. DevaCurl wants have such passionate advocates – to see curls celebrated, and natural we are dedicated to only curls and beauty and texture embraced. nothing else. Indie brands also Traditionally, the curly community have the opportunity to take risks has been left underserved. One and to try things that feel right. of the ways we are supporting the It’s a combination of being smart, curly community is by bringing hair strategic, doing our homework and education back to the forefront. We listening to our gut. have to remember that our brand For us, that means building on our was born in the salon. The emotional success in the U.S. and expanding reaction that takes place during the to new international markets with transformational process in our salons strategic retail partners. We know the The salon speaks is proof of how powerful the stylist is as organic demand is there, and now’s the to the physical an endorser and educator for the curly time to execute. Especially with the community of girl. The cultural shifts that our stylists current state of beauty, we have the DevaCurl.

BeautyBINC_ADV_DEVACURL.indd Inc Full-Page and Spread 1 Template.indd 1 4/15/194/12/19 11:5811:37 AM BINC_Cover Story.indd 22 4/16/19 6:07 PM BINC_Cover Story.indd23 Stand d eliver

and by company’s considerable beauty business. has cracked the code ofrestoring growthto Under theleadershipAlex of

Jenny B. Fine

PhotograP h by

Simone Lezzi Keith, Procter &Gamble the 4/17/19 10:47 AM hen it comes makes Keith the only female ceo of a top 10 particularly in the key markets of the U.S., to Alex Keith, beauty manufacturer. China and Japan—is more challenged. talk of women’s She has moved quickly to reestablish Keith is confident that the key tenet intuition transcends P&G’s relevance, reinstating consumer that unlocked Olay’s recent successes the cliché. learning as a key tenet of the business, will hold true as she tackles the global A chemical recognizing the changes that have hair-care business: a deep and intuitive engineer by happened industrywide over the past understanding of consumer desires today. training, Keith has decade and reacting accordingly, through In the late Nineties and early Aughts, that harnessed her instinct for human chemistry acquiring or incubating new brands and was a core competence that helped drive to crack a code no one else has been able increasing P&G’s exposure to diverse P&G’s beauty businesses to consistent gains. to solve for the last decade: how to create channels and categories. But once the brands started to struggle, a winning formula for Procter & Gamble’s “We are reasserting what beauty means that focus on using consumer insights to beauty business. to P&G and how we intersect the core drive the business increasingly disappeared. After a dismal period, which saw the competencies of P&G with the beauty “When business starts to falter, which is company sell 41 brands to Coty for $11.6 industry,” Keith says. “What beauty has what happened in 2010-2011, the immediate billion, a deal which many said would be always been for P&G is a higher growth, gut reaction of analytical people is to transformational for Coty rather than P&G, higher margin expandable category analyze why the business is faltering in the consumer packaged goods giant is once business. It will remain that growth engine. a way that is measurable, objective and again talking about beauty driving significant But what we are doing differently, what is quantifiable,” Keith says. “But as that growth—both for the group itself and the new, is fusing this with the intuition and was going on, the qualitative assessment market overall. the artistry unique to the category.” of where we might be missing the mark, Beauty has regained its mojo. As successful as she’s been, Keith still where our brands weren’t connecting, The numbers tell the story: For fiscal has her work cut out for her: While the where the innovation might not be as 2018, P&G’s beauty business—which consists company’s personal-care category has relevant, wasn’t something that people were of personal care, hair care and skin care— continued its slow but steady ascent comfortable with. posted sales of $12.4 billion, the third-largest and skin care has returned to a growth “When I first came back, I was really category for the $67 billion group. Moreover, trajectory, P&G’s hair-care business— shocked to find that for a company that it led the company in terms of growth, with a 9 percent increase versus a 3 percent Under Keith, P&G’s companywide gain. master brands are Much of the growth in beauty can now more reflective be attributed to the return to health of of real-time relevance. P&G’s skin-care category, driven at first by the success of the prestige brand SK-II in Asia, but more recently by the mass market Olay, as well, whose turnaround in fortunes can be traced to Keith’s return to the beauty category as president of global skin and personal care in 2014 after a four- year stint running P&G’s North American fabric care business. “Alex elevated the brand,” says Stephanie Wissink, an analyst at Jefferies, of Olay. “She had capital in the coffers to focus on things, and the first thing she did was listen to the consumer. They doubled down on the things scientifically they knew they could win. For a brand to keep pace with and bring accessible

value to the marketplace consistent with Stammer Melissa prestige is pretty remarkable.” Keith’s quick results on Olay were noticed internally, too: In 2017, she was given complete oversight of P&G’s beauty business, adding hair care to her remit. Last November, in P&G’s latest reorganization, Styling by Scott; Joshua she was named chief executive officer of P&G Beauty, a newly created position that also by photograph Product

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BINC_Cover Story.indd 24 4/16/19 6:07 PM puts improving the lives of the world’s August, for example, Keith was reading consumers at its core, our beauty business a story in People magazine about Baby had lost the basic understanding of Chanco, a Japanese toddler born with a full consumers’ views and needs.” head of hair. “Someone should get this baby That frank assessment has been key to the a Pantene ad!” wrote the reporter. Keith turnaround. “I thought, ‘Well, I can do that!’” laughs “Alex shares in our passion to truly Keith. She snapped a picture of the story, understand the guest,” says Monica sent it to the team in Japan and the one- Arnaudo, senior vice president of year-old is now a Pantene ambassador, merchandising for mass, hair and starring in an ad series that encourages accessories at Ulta Beauty. “She is very open women to embrace their individuality. The to sharing insights and brainstorming new campaign, along with a product strategy solutions, all in the quest to serve guests that has premiumized the brand’s offering, and ultimately drive sales. She is a woman has helped reverse five years of sales of action, and certainly a change agent declines for Pantene in Japan. for P&G, pushing her teams to focus on Closer to home, the team has been on innovation and evolving the P&G brands the money when it comes to identifying A clever campaign starring Baby Chanco helped revive Pantene in Japan. and products to meet the needs of the hot ingredients. For example, the Pantene ever-changing consumer.” Rose Water Collection, a sulfate-, paraben- On this day, Keith is speaking in a and dye-free shampoo and conditioner duo the vice president of skin care at P&G and nondescript, unfurnished meeting room launched in North America earlier this year, today the company’s chief brand officer. He at The Breakers in Palm Beach, Fla., where stars an ingredient that brand executives convinced her to stay in the company and she has just participated in a panel about realized was surging after they tapped into made her an assistant brand manager on sustainability during the Personal Care wellness trends in real time. “Four years Olay, where she oversaw the development Products Council annual meeting. After ago, we would have been sitting around, and launch of Olay Complete All Day UV opening the windows and clearing away some saying, ‘Rose water is a trend. We should Moisturizer, the first mass market hydrator stray detritus, she cracks open a bottle of really do something,’ and by the time we with sunscreen. Perrier, ready to get down to business. Despite actually did something, it wouldn’t be a Intuition rather than experience drove that the lackluster surroundings, the executive is trend anymore,” Keith says. project—“I looked at what the prestige market personable and animated as she talks about But times have changed. Using either was doing, what was happening in fashion the challenges of enacting a cultural—and consumer insights gleaned from the team or in terms of minimalism and simplicity and business—transformation. P&G’s partnership with Google, which enables listened to women talk about what they “One of the biggest things we’ve had marketers to analyze big data for emerging wanted from skin care, and then threaded to overcome internally is helping people trends, the company is becoming more agile the needle through all of those dots,” Keith understand that the rational story of our at innovating. “Now,” Keith continues, “with says—a skill that still serves her well today. products and the amazing science in the the capabilities we are building, we are able While working in the fabric care business, bottle is no longer the most interesting, to identify a trend, understand how it fits into for example, she created Downy Unstopables talkable thing for consumers,” Keith says. the brand promise and launch it exactly at In-Wash Scent Booster Beads, after her best “We tell everyone—if the consumer cares the time it is having a major upswing. That, friend lamented that her new washer and about it, we need to be aware of it. We can ultimately, is the goal.” dryer didn’t have a big enough receptacle for choose whether to act on that knowledge or her favorite fabric softener, whose scent she not. But we need to know.” eith’s keen sense adored. Keith did some digging, discovered Keith admits that initially she got some of listening has fueled this was a pain point for other consumers pushback from the teams, who told her they her rise through P&G’s and created Unstopables, marketing them didn’t have time to go see consumers. Her ranks. She joined the as fragrance for clothing and charging a response: “If I have time than you have time,” company directly after premium for the product. The launch created she recalls. graduating from the a category that today is valued at more than But she also gave her troops a new University of Arizona in the early Nineties $700 million in sales, of which P&G has more framework in which to think about garnering and realized after a few years that she than an 80 percent share. consumer insights, even something as simple wanted to transition from manufacturing More recently, there was the resurrection as talking to friends about their beauty habits into marketing. (“It was the early Nineties of Olay Daily Facials Cleansing Cloths. over a glass of wine (“If you have friends and when people still dressed for work, and I Keith was snooping around in the medicine they don’t work in consumer products, they’re just thought to myself I’d like a job where cabinet of a friend’s teenage daughter actually consumers,” she says) or reading a I don’t have to wear steel-toed boots and a (having first obtained permission) and magazine or blog. hairnet every day.”) noticed she had a sizable collection of facial She herself has consistently come up with She decided to pursue an MBA, and wipes—but nothing from Olay. Back in move-the-needle ideas doing just that. Last mentioned her plan to Marc Pritchard, then 2000, Keith had launched a breakthrough

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BINC_Cover Story.indd 25 4/16/19 6:07 PM lathering wipe, which at its height had over cross-cultural study and found that the highest $100 million in annual sales. “If you get rate of dissatisfaction when it comes to beauty “When I came back, it was double-digit, low- challenged is hair—eight out of 10 women report having double digit sales. Almost gone,” she says. A trip bad hair days. “There’s a gap between the hair to the R&D department revealed the technology to achIeve they have and the hair they want,” says Resta, was still relevant today, so Keith took it to the the ImpossIble, who mandated that her senior management team, who had been telling her the brand was team come to work one day with their hair in lacking a strong wipe. then you start a natural state—no product, no styling aid, no “I told them we have this amazing wipe— thInkIng In nothing—to better understand the emotional we just need to make sure people understand implications of the need gap. (“I learned I look it,” Keith says. She brushed away protestations a completely awful with the hair I have. I shouldn’t be the of no money for TV advertising, directed them hair care leader of North America with the to run a digital campaign and the franchise is dIfferent, hair I have,” she jokes of the experiment.) back to double-digit growth. “The retailers are breakthrough This work led to Pantene’s new platform— excited about it again and all of a sudden it’s The Power to Transform—which Resta says is back to eye level at the shelf instead of stuffed way.” already resonating with consumers. “In the past, in the bottom back corner,” she says. ilaria resta, procter & gamble hair care responded to the functional needs of An avid runner who’s working on achieving consumers, like moisturizing,” she says. “Now, an eight-and-a-half-minute mile, Keith says she over-proliferation of sku’s at retail. Under Resta’s we’re seeing that the magic happens when does her best thinking when she’s in motion leadership, the number of Pantene collections the purpose of the brand is matched with the or in the shower. She has consistently—and has been cut in half. Keith has also reframed purpose and desire of the consumer.” consciously—honed her sense of intuition over the thinking on the portfolio, from “we run Although P&G doesn’t break out numbers the last two decades, and encourages her team global brands in hair care” to “we run regional by category, Resta says that Pantene is once to do the same. portfolios of brands, which will likely expand.” again growing both in terms of revenues and “As an organization we need to be more To that end, P&G hair care—Pantene, Head & penetration. While she wouldn’t quantify what intuitive and not always rational and data- Shoulders, Aussie, Herbal Essences, Old Spice success looks like in terms of a sales figure, Resta driven, which can be a challenge when you have and the in-house incubated Hair Food—is now notes that when Keith first told her what her a lot of very smart people, lots of whom have more clearly segmented by consumer, target and/ expectations were for the business, “I said to her, analytical backgrounds,” she says. “Maybe not or distribution channel. Aussie, for example, was ‘You must be kidding!’” everyone can have the same level of intuition, recently revamped by and for Generation Z, while That boldness is characteristic of Keith’s but you can steep yourself in the consumer Herbal Essences is more of an ingredient play. leadership approach. “If your expectation is market, the broader world and develop enough “It’s a challenge to make sure you don’t have to grow 1 or 2 percent, you can achieve it with of a knowledge base so that you are comfortable a zero sum game when it comes to consumer what you have tried in the past,” Resta says. “If and conversant. It’s about honing it and targeting, media buying and brand positioning you get challenged to achieve the impossible, pointing it in the right direction.” and sales fundamentals,” Keith says. than you start thinking in a completely Still, it will take more than a cute baby to Resta and her team are also much more different, breakthrough way. This is scary but turn around the fortunes of P&G’s hair-care attuned to the changing demographics of the liberating because you’re not attached any business. Geographically, Keith says the business category. “Hair care has accelerated over the longer to what worked in the past.” is growing in Latin America, Southeast Asia last two years and is decommoditizing and Resta, who likens Keith to a “marshmallow and Europe, but has struggled in the U.S., China changing dramatically to mirror society,” says wrapped in titanium,” says the ceo consistently and Japan. To restore growth in North America, Resta, who notes that the polyculturalism pushes teams to move beyond their comfort Keith tapped Ilaria Resta, now the vice president of the U.S., and multiethnic background of zone. “She pushes you to take risks, and of P&G’s North American hair-care business and Gens Z and Alpha have resulted in an ever- sometimes I feel like I’m jumping off the cliff one of the key drivers behind the turnaround of increasing array of hair textures and types that of a mountain,” says Resta, “but you turn P&G’s European hair-care division. are much more diverse than those in the past. around and she has a net in case you fall. This As with Olay, one of Pantene’s problems is an P&G partnered with Yale University on a is incredibly empowering. If you have someone

Favorite non- Keith business book: “endurance” by alfred up Lansing, the story of Breakfast of exercise routine: estimated daily Fave running Favorite business Shackleton’s voyage champions: an early-morning mileage for run: route/city: book: close to antarctica. a great Definitely coffee— run or workout, as currently, about along the lake in “creativity in c .” story of leadership: black. and, on many days as i can five miles. Geneva. Gorgeous by ed catmull He brought every workout days, some manage. scenery and no crew member peanut butter or roads to cross! home alive against oatmeal. incredible odds.

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BINC_Cover Story.indd 26 4/16/19 6:07 PM afraid to take risks or who will punish you ceo. “At the same time, I’m learning— didn’t have billion-dollar potential—that’s no for mistakes, your arena is reduced.” I had no idea how to do brick-and-mortar longer the case. “We recognize the portfolio before. And I do feel we’re having an impact. will probably be a combination of these ar From reducing P&G’s People in P&G have told me their timelines big powerhouse brands and other, more beauty arena, Keith has are shorter now that they understand how specialized brands,” Keith says. “As we think been actively expanding it quickly we do things.” about portfolio expansion, we want to be through brand acquisition Rather than meeting with large teams present in the retail channels where the and incubation. of people, founders like Ali, First Aid beauty shopper may be and we acknowledge Acquisition-wise, P&G Beauty’s Lilli Gordon and Walker’s Tristan that our core mass market brands are bought the natural, direct-to-consumer Walker meet regularly with cross-category probably not the right mixture on their own deodorant brand Native in November incubation groups that Keith has set up, to meet the needs of that shopper.” 2017, followed by the New Zealand-based small teams that are working on projects Such forthrightness is typical of Keith, Snowberry skin-care business in February across the division. Some of their work, like whose first tenure in P&G Beauty was 2018, then the prestige skin-care brand First Gemz Hair Care, single-dose shampoos and under strong female leadership as well, Aid Beauty in July 2018, and most recently conditioners, and Hair Food, a direct-to- including Susan Arnold, who was vice Walker & Co., which manufactures razors consumer, natural-based hair-care brand, chairman of Beauty and Health, and Gina under its Bevel brand and hair care under have already been commercialized. Others Drosos, the former group president of Form, both designed for people of color. are under wraps. female beauty. While Keith says that her While analysts applauded the But the goal is to keep the flow of goal for the last 15 years of her career has diversification efforts—the acquired brands information fluid, making sure that scientific been to lead the P&G beauty business, she give P&G exposure to fast-growing retail innovation and digital know-how can quickly doesn’t shy away from talk of perhaps one channels and categories it had failed to be cascaded throughout the organization. day becoming the ceo of P&G overall. penetrate before—some also questioned the “We’re working across the categories of “This was my dream job for a long time, company’s ability to nurture smaller brands. P&G Beauty and are approaching these in a and now that I’m in it, it’s a pretty great place “P&G typically looks for brands with different way than how we would historically to be. This role is going to help me grow my global potential, and the brands it’s buying approach learning—we’re doing it on a experience base and capabilities. I do feel like now seem too small to do that,” says one very tight budget, using a [venture capital] this is a great growth opportunity that could analyst, who did not have permission from approach,” Keith says. “What do you want prepare me to do something like that,” she his company to speak publicly. “My question to learn? How much money is needed? That says when asked about the top spot. is what has changed within P&G that is way we can have many irons in the fire versus As to why Keith has been able to effect going to be able to create value and not having to make our choices too early. transformational change when so many destroy these small brands? What is their “While it’s still early, we already have a others have failed? “I’m pretty good at role in a company as big as Procter?” lot of great learnings, particularly in the having a vision for the future, but being Keith is well aware of the criticism and performance marketing, DTC and search grounded in reality,” she says. “Having a insists that the company has learned from spaces,” she continues. “We’ve discovered vision without understanding the reality past mistakes. “These brands are their own that this work requires a different talent makes it very hard to get there, because you ecosystems. The brand founders are all profile. We look for individuals who don’t know where you’re changing from. with us. We have not swallowed them up are multiskilled and can operate across If you’re only grounded in the reality, it into our core operating system,” she says. functions and have found many of these makes it very hard to change because you “We want to protect the founders from individuals outside of the traditional don’t know where you’re going. becoming in-house consultants because marketing function, like in communications, “Consistency and focus are key,” she they want and need to grow their brands design, market research and R&D.” continues. “Change for change’s sake or and we want and need them to do that.” While the old P&G model was to buy changing your mind all of the time doesn’t “We’ve maintained independence and that relatively small brands and blow them up help in a leadership position, particularly has allowed us to grow and do what we’re sales-wise—one analyst noted the company when you’re trying to help a business good at,” says Moiz Ali, Native’s founder and used not to be interested in a brand that transform itself.” ■

Favorite podcast: number of countries number of days Favorite seat Best business Favorite Last show nPR’s Marketplace. lived in: three: the she travels on a plane: advice: inspirational binge-watched: it’s how i stay u.S., Singapore and, annually: One where no one challenge accepted quote: “the Marvelous in touch with what’s now, Switzerland, i’m afraid to needs me to move boundaries. “Do something Mrs. Maisel.” happening back but four if you count count, but let’s say for them to get up. it works for both every day that Love it!!! home. some of my childhood between 150 and business and life. scares you.” — years in Germany. 200. eleanor Roosevelt

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BINC_Cover Story.indd 27 4/16/19 6:07 PM BeautyUntitled-47 Inc Full-Page 1 and Spread Template.indd 1 4/15/194/12/19 11:52 5:08 PMAM Illustration by Jeff RogeRs

Top 100 in 2018_V5.indd 29 4/17/19 6:28 PM China, outpaced growth for its larger ceo Camillo Pane and chairman Bart the beauty competitor, Amorepacific, which Becht, who orchestrated the P&G deal, our struggled somewhat domestically with Pierre Laubies taking over as ceo lanDScape and abroad and is restructuring its in November 2018. MethoDoloGy business model. In terms of M&A activity, while continued to shift east in 2018. Asia and The wwd beauTy inc top 100 ranks the Companies with a stronger footprint there were few mega-deals in 2018, skin care were the major drivers for world’s largest beauty manufacturers. firms in skin care in general saw better acquisitions still had an impact on the the world’s biggest beauty companies, are arranged by their beauty sales for the growth as the market continued to shift ranking. Natura’s 2017 purchase of The and the shift toward more premium 2018 calendar year. products favored players with a stronger away from makeup. Groupe Clarins Body Shop led to a 36% sales increase, for those companies whose fiscal year did footprint in the prestige space. While was one of the companies benefiting although weakness of the Brazilian real not run from Jan. 1, 2018, to dec. 31, 2018, market leader L’Oréal’s overall sales from the category’s growth, and smaller against the dollar meant that Brazil’s estimates were calculated. all sales figures grew only 3.5%, for example, its Luxe players like Naos and Have & Be Co. beauty leader only actually climbed one were either obtained from the companies division’s revenues increased 10.6%. also outperformed, while France’s place in the ranking. Groupe Rocher or generated with the help of industry Although number-two Unilever does Kresk Group, owner of the Laboratoires climbed three spots thanks to its sources, indicated by (est.) in the ranking. not break out its prestige business, it did Filorga brand, was among new entrants acquisition of Natural Products Group. for this list, “beauty” includes fragrance, note double-digit growth for several of to the Top 100 thanks to its 39% sales This latest edition of the Top 100 its high-end brands, and third ranked gain. Other new entrants for 2018 offers a new format, which we hope makeup, skin care, body care, sun care, hair The Estée Lauder Cos., which does the included China’s Proya Cosmetics Co., makes information about the world’s care, deodorant, plus cellulite and shaving majority of its sales in prestige, saw U.S.-based Beautycounter and Italy’s beauty leaders both more insightful products. it does not take into account bar sales grow 11%. Sodalis Group, thanks to its acquisition and easier to digest—our aim was to soaps, razors, toothpastes, food and diet Sales skyrocketed in Asia for several of compatriot makeup player Deborah. make the Top 20 entries more analytical foods, medicines, vitamins or detergents. firms, driven especially by China and The year 2018 was also marked by and pull out key highlights of the year the revenues only include sales of beauty travel retail, and the move toward top executive changes at some of the for the remainder of the players in the products each firm manufactures and do not J-Beauty positively impacted Japanese biggest beauty groups, expected to ranking, making them more topical and include business from private-label lines or players, with most moving up slightly herald a new era for certain players. easier to read. products distributed for other companies. in the rankings, despite a continuing Alan Jope took over as chief executive Total sales for all 100 companies information in the main brands section soft market at home. Japan’s leader officer of Unilever and Stefan De reached $223.21 billion, an increase of reflects each company’s holdings in 2018. Shiseido climbed one place in the Loecker was named chairman of 6.4% year-over-year. L’Oréal accounted year-on-year percentage changes are 2018 Top 100, thanks to its focus on Beiersdorf, both changes effective for 14.3% of total sales, while the top in reported terms, not on a like-for-like or its prestige portfolio and growth in January 1, 2019. Coty, which continues 10 companies overall generated sales constant-currency basis. non-u.s.-based China. Among K-Beauty firms, LG to struggle with its turnaround after of $126.3 billion, or 56.6% of total Top firms’ sales are converted into dollars Household & Health Care, driven by the integration of P&G’s specialty 100 revenues, with both ratios marking according to the 2018 average yearly premium brand Whoo and success in beauty portfolio, saw the departure of slight increases year-over-year. exchange rate.*

* currency converSionS Operating prOfit: [organic] sales growth in beauty specialist logocos. sales figures in non-u.s. currencies were €4.92 billion, +5.3% more than 10 years.” gains l’Oréal’s beauty license converted to the dollar using the following were driven by the boom in with giorgio armani was net prOfit: 2018 average exchange rates from Oanda.com: €3.9 billion, +8.8% asia, especially china, as well renewed until 2050, while a as l’Oréal’s luxury-products new license with valentino— SaleS by DiviSion: business as consumers shifted formerly under puig—was €1=$1.180857; ¥1=$0.009059; £1=$1.334767; 1l’oréal prOfessiOnal prOducts: toward premium categories. inked. the company has also 1 Krw=$0.000909; 1 ruble=$0.015987; CliChy, FranCe €3.26 billion, -2.6% digitalization, travel retail and fielded rumors that it may r$1=$0.275426; cny 1=$0.151334; (+2% like-for-like) dermo-cosmetics were further acquire the prada fragrance 1 rupee=$0.014644; 1 sFr=$1.022221; 2018 beauty SaleS: sales drivers. license looking ahead. cOnsumer prOducts: 1 hK$=$0.127585; 1 seK=$0.115095. $31.81 billion asia-pacific overtook north rumors regarding nestlé’s €12.03 billion, -0.7% €26.94 billion america to become l’Oréal’s possible sale of its 23.3% stake +3.5% VS. 2017 (+2.5% like-for-like) number-two region for the in l’Oréal reignited as the swiss compiled and researched by l’Oréal luxe: first time, and is expected to firm sought to hone its focus on alex wynne with allison collins Main branDS: €9.37 billion, +10.6% soon take over top place from nutrition, health and wellness cOnsumer prOducts: (+14.4% like-for-like) Western europe. e-commerce and said it was considering edited by alex wynne and Jenny b. Fine l’oréal Paris, Garnier, sales grew 40.6% to account strategic options for its nestlé maybelline new york, active cOsmetics: for 11% of group revenues, skin health activity. with contributions from: nyX Professional makeup, €2.28 billion, +9.2% meaning if that business were for the l’Oréal luxe Mayu saini (new delhi), essie, niely, Dark and lovely, (+11.9% like-for-like) a country, it would now be the division, where business Fiona Ma, Tianwei Zhang (london), magic, Stylenanda. SaleS by firm’s second worldwide. accelerated in the second allison collins, ellen Thomas, alexa Tietjen prOfessiOnal prOducts: GeoGraphic Zone: travel retail grew 27.1%, half and outperformed the (new york), sandra salibian (milan) l’oréal Professionnel, Western eurOpe: with that business crossing overall prestige beauty market, and Tiffany ap (hong kong). redken, Kérastase, €8.07 billion, -0.7% the €2 billion threshold for the according to the company, its matrix, Pureology, Decléor. (-0.3% like for-like) first time. four “billion euro” brands— charts compiled by Kelsey butler On the m&a front, l’Oréal lancôme, yves saint laurent, l’Oréal luxe: nOrth america: remained active, tapping into giorgio armani and kiehl’s—all lancôme, yves Saint €7.23 billion, -1.6%% acquisitions to help it continue saw double-digit growth. laurent, Giorgio armani, (+2.7% like-for-like) to ramp up its presence in lancôme was boosted by skin Kiehl’s, biotherm, digital, in new geographies and care and the ongoing success Urban Decay, iT Cosmetics, asia-pacific: €7.41 billion, l’Oréal paris’ revitalift filler, ending the year in more than in categories like naturals to fill of la vie est belle fragrance. Shu Uemura, ralph +20.4% (+24.1% like-for-like) garnier’s tissue masks and 30 countries. white space in its portfolio and both ysl and armani had lauren, helena rubinstein, men expert products. geographically, Western latin america: €1.78 billion, global penetration. in march, a strong year in fragrance, Viktor&rolf, Cacharel, the active cosmetics europe was impacted by -8.6%% (-0.4% like-for-like) it acquired the canadian firm as well as foundation, while Clarisonic, Diesel, division was also driven by sluggish conditions in key modiface, which specializes kiehl’s benefited from the yue Sai, Valentino. eastern eurOpe: increased demand for skin markets including france and €1.75 billion, +0.2% in augmented reality and boom in skin care. growth also care, with double-digit growth the u.k. and by the slowdown active cOsmetics: (+9.1% like-for-like) artificial intelligence. in June, continued for it cosmetics for la roche-posay, which in makeup. in north america, la roche-Posay, Vichy, it finalized the purchase of and atelier cologne. the performed well across regions. despite a decline in sales, africa and middle east: SkinCeuticals, CeraVe, south korean lifestyle and division performed particularly vichy was bolstered by minéral the firm said the consumer €693.5 million, +0.2% roger&Gallet. makeup firm nanda, owner of well in asia-pacific, gaining 89 serum. skinceuticals grew products division remained on (+4.9% like-for-like) the stylenanda brand. digital market share there, especially worldwide and strengthened track and gained market share Key FinancialS: biggest markets: native professional hair-care in china, where it saw double- its leading position in the in makeup and hair color, like-fOr-like sales grOWth: The U.S., China and France. brand pulp riot was added to digit growth. professional category in the while the luxury business +7. 1% the portfolio in may, bought Within consumer products, u.s. cerave saw double-digit was particularly dynamic cOnstant-currency  The world’s biggesT from luxury brand partners, skin care was also a driver, with gains in north america and in skin care and grew faster sales grOWth: beauty company described while in august, l’Oréal bought double-digit growth seen for rolled out to new markets, than the market in fragrance. +8% 2018 as the year of its “best german natural and organic face-care products including

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Top 100 in 2018_V5.indd 30 4/17/19 6:28 PM Untitled-21 1 4/10/19 1:46 PM professional products sales +3.1%, underlying volume amazon's core consumables by the nuM berS in the region were driven by growth +2.5%) business unit, was named redken and matrix and the head of the beauty & divisiOn Operating prOfit: the 2018 top 100 at a Glance acquisition of pulp riot. in personal care division. €4.1 billion, +0.7% a sTrong PerForMance in skin care drove some of the biggest gains of 2018 for asia-pacific, growth was seen On the beauty front, surging companies, while those on the wrong side of the ledger struggled with the across all divisions thanks tOtal cOmpany revenues: unilever was less acquisitive rapidly changing beauty landscape. to the dynamic chinese €50.98 billion, -5.1% in 2018, although it did buy market and brisk business the Quala beauty and personal charts cOmpiled by aleX wynne Operating prOfit: in southeast asia and travel care- and home-care business €12.54 billion, +41.5% retail. the June acquisition in latin america in february, of stylenanda strengthened net prOfit: while in October, it bought top 10 SaleS GainS l’Oréal’s position in the zone. €9.81 billion, +51.2% 75% of equilibra, an italian 47. l Catterton +47% (esT.) despite ongoing difficult personal-care and wellbeing  a year oF major upheaval conditions in latin america business, with the intention of for unilever, 2018 was 48. Kresk Group +39% (esT.) and hyperinflation in brazil further bolstering its portfolio marked by the firm’s that led to a significant drop in natural personal care. reversal on its decision to 49. alcora Corp. +37.6% (esT.) in reported sales, l’Oréal in terms of brand simplify its structure and luxe and active cosmetics incubation, though, it was switch to a single corporate 50. natura & Co. +36% gained market share in the an active year. the company entity headquartered in region, and the professional introduced home-grown rotterdam after backlash 51. Sodalis Group +35.1% (esT.) products division grew brands k-bright, korea glow, from institutional investors, strongly in brazil. growth in pure derm and skinsei, as well as the appointment 52. beautycounter +33% (esT.) eastern europe was especially while love, beauty & planet, of alan Jope as its new chief driven by active cosmetics, launched in 2017, expanded 53. Groupe rocher +30.1% (esT.) executive officer, effective and turkey, ukraine, romania into six markets across north Jan. 1, 2019. unilever also put and the czech republic saw america and europe and is now 54. Proya Cosmetics Co. +28.6% (esT.) the focus firmly on food and dynamic conditions, as did active in categories including beauty, sold its struggling e-commerce, which increased skin cleansing, deodorants, skin 55. have & be Co. +28.2% (esT.) spreads business, resulting more than 50% in the zone. care and hair care. schmidt’s in its significant profit gains, in africa and the middle naturals, also acquired in 2017, 56. manzanita Capital +24% (esT.) and fused its food and east, despite an unfavorable extended beyond deodorants refreshments divisions. geopolitical climate and into new categories. korea Jope, a unilever veteran of sluggish markets, especially in glow, a new cleansing brand, top 10 SaleS loSSeS three decades, had long been the gulf, sales were stable on a launched in the fourth quarter. mentioned as a frontrunner reported basis, with egypt and as ceo, Jope is expected to – 24.9% (esT.) 98. Perfumania holdings for the job. in his previous morocco seeing good growth continue to promote brand role as president of beauty and positive developments in incubation, and several new -15.2% (esT.) 99. bayer Consumer health and personal care, which south africa and kenya. initiatives have already been he had held since 2014, he announced for 2019. -15% (esT.) 100. rb spearheaded the firm’s shift unilever’s brands, whether into the prestige beauty arena. -13.8% (esT.) 101. new avon acquired, incubated or through during his tenure in that role, brand extensions, have a he oversaw a rapid-fire series -13.3% 102. Faberlic growing focus on sustainability of acquisitions, including and social consciousness. dermalogica, dollar shave -12.1% (esT.) 103. Tupperware brands Corp. unilever has pledged to club and sundial brands. as become carbon positive in its ceo, he replaced paul polman, -11.2% (esT.) 104. alès Groupe unilever operations by 2030, and to 2 who had already announced lonDon/roTTerDam, ensure that 100% of its plastic plans to retire. -10% (esT.) 105. Jafra The neTherlanDS packaging is fully reusable, the plan to move unilever recyclable or compostable by 106. avon Products inc. to the netherlands had -9.6% 2018 beauty SaleS: 2025. for 2018, the company stemmed from the brexit $22.39 billion (eST.) said its sustainable living -7.4% (esT.) 107. lush vote in 2016 and a $143 €18.96 billion (eST.) brands grew 46% faster than billion takeover bid by kraft -0.3% VS. 2017 (eST.) the rest of its business and heinz co. in 2017. kraft heinz delivered 70% of its growth. as withdrew the offer after Main branDS: part of this approach, unilever For MoSt, dOWn unilever spurned its advances 23% beauty & persOnal care: revealed that it is supporting SaleS and unilever later undertook axe/ lynx, rexona/Sure/ a global ban on animal testing increaSeD a major audit, simplifying its Degree, Clear Scalp & hair for cosmetics as part of a internal structure and selling beauty Therapy, TreSemmé, deal with humane society its spreads business to kkr. Sunsilk/Seda/Sedal, Timotei, international and that peta polman retired as ceo and up motions, nexxus, mods, has officially recognized dove, 73% as a board member on dec. alberto V05 (except in the unilever’s largest beauty and 31, 2018, although he plans to U.S. and Puerto rico), TiGi, personal-care brand, as a brand flat support the transition process 4% brylcreem, Dove, lux, Pond’s, that does not test on animals in the first half of 2019. he will Suave, Vaseline, monsavon, anywhere in the world. also last leave the company in early radox, Duschdas, black Pearl, year, the company introduced July. analysts suggest Jope’s Pure line, 100 recipes of bottles made from 100% nomination could herald beauty, Silky hands, St. ives, recycled plastic, including 20% by country further brand incubation and lifebuoy, noxzema (except in ocean plastic, under ren, and newness at unilever, inroads it Western europe), Just for me, biodegradable face wipes made had already been making. Simple, impulse, Camay, Zest from renewable plant fibers and Jope joined the company (except north america and the wood pulp under simple. 31 as a graduate marketing Caribbean), Kate Somerville, elsewhere, murad ramped trainee in 1985, and has 14 12 Dermalogica, murad, Dollar up its digital focus under 6 6 experience both in developed Shave Club, Pears, hourglass, new chief executive officer and emerging markets, uniTed France JaPan gerMany uniTed living Proof, love, beauty & michelle shigemasa, who having run the company’s sTaTes KingdoM Planet, ahC, Skinsei, Quala, joined the firm in late 2017 north asia business for equilibra, K-bright, Korea Glow, from the estée lauder cos. four years and served as 4 4 4 4 Pure Derm, KJU, hijab Fresh, kate somerville launched president, russia, africa and apotheCare essentials. in the u.k. and china, and 6 middle east. he spent more tweaked its distribution in the iTaly souTh Korea swiTZerland india china Key FinancialS: than a decade in senior foods, u.s., launching on ulta.com beauty & persOnal care home-care and personal-care and in several hundred of the divisiOn revenues: roles for unilever in the u.s. 1 retailer’s doors and exiting 3 2 1 1 1 €20.62 billion, -0.3% in march, sunny Jain, (underlying sales growth neiman marcus, one of its formerly the head of The braZil Peru sPain neTherlands russia hong Kong

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Top 100 in 2018_V5.indd 32 4/17/19 6:28 PM YOUR SKIN TELLS A STORY

Untitled-2 1 4/16/19 9:38 AM early retail partners, although brown, Tommy hilfiger, benefited from launching beauty growth. in prior years, by the nuM berS it remains available on the Kiton, la mer, Donna Karan niche fragrance brands le sk-ii had shouldered most department store’s web site. new york, DKny, aveda, Jo labo, editions de parfums of the division’s expansion, the M&a that Overall, unilever’s beauty malone london, bumble and frédéric malle and by kilian but recently, other brands sales dropped slightly in bumble, Darphin, michael in the channel. too faced and started to make meaningful Mattered in 2018 2018, heavily impacted by Kors, To m Ford, Smashbox, becca also made their way contributions to the division’s While 2017 was the year of big brand acquisitions, the M&A currency headwinds, which ermenegildo Zegna, aerin, into more airports. overall gains—notably landscape shifted into new territory in 2018. Here, a breakdown had a negative impact of 7% To r y burch, rodin olio lusso, lauder’s specialty retail Olay, which after a 2016 of the year’s most important—and directional—deals. on division sales, and weak le labo, editions de Parfums expansion continued in 2018 stockkeeping unit reduction —Allison Collins conditions in certain emerging Frédéric malle, Glamglow, by with further penetration from and broad turnaround effort, markets, to which unilever Kilian, becca, To o Faced. brands at ulta beauty. While the posted high single-digit the biGGeSt Deal is more weighted than the u.s. department store climate increases for the year. Johnson & Johnson spent $2.1 billion to acquire the rest of ci:z, majority of its competitors. Key FinancialS: continued to struggle in the Olay, which has a masstige a Japanese beauty manufacturer with several popular skin-care lines. the firm’s skin-care skin-care sales: year, lauder was able to find presentation in china, has the deal ranked as the largest global acquisition for all of 2018. business grew strongly, it $6 billion, +22% sales gains via retailer web sites. done particularly well there, it cemented J&J’s position in Japan, and also underscored continued

said, thanks to innovations makeup sales: broadly, e-commerce but is also said to have interest from strategic buyers in professional skin care. like a new vaseline range $5.7 billion, +4% sales were up across the returned to growth in the u.s., with clinical strength board—not just at department where it had struggled. the powerhouSe newcoMer moisturization, as well as fragrance sales: store dot-coms. in china, china has been a driver tpg flexed its private equity muscle in 2018, making two large-scale love, beauty & planet. in $1.8 billion, +3% online sales doubled, driven of p&g’s skin-care business beauty investments with multibillion dollar valuations:r odan & fields and personal care, products mostly by tmall, which now broadly, the company has said hair-care sales: anastasia beverly hills. these are the first big beauty deals for the private including dove’s exfoliating sells darphin and Jo malone on earnings calls. strength in $587 million, +8% equity firm, which has previously invested in smaller beauty companies body polishes drove sales. london, in addition to mac, the region also helped propel like e.l.f. and beautycounter, through its tpg growth business. natural deodorant brand sales in the americas: la mer and tom ford notably. sk-ii to its highest-ever sales schmidt’s grew strongly. $4.8 billion, -3% the asia-pacific region number—$2 billion. sk-ii’s

in prestige, where eurOpe, the middle east is lauder’s fastest-growing, gains were also driven by welcoMe bacK unilever is aiming to grow its and africa: driven by china, which is now travel retail. procter & gamble’s 2017 return to m&a was no fluke—the consumer business to reach €1 billion $6 billion, +17% responsible for more than native, a 2017 p&g packaged goods giant returned to buying beauty brands in full force in in sales, the company saw $1 billion in sales. much of acquisition, was able to help 2018, picking up prestige skin-care offering first aid beauty for around double-digit increases from asia-pacific: that success is due to tmall, strengthen deodorant sales $250 million, delving deeper into the multicultural market with Walker hourglass, ren, living proof $3.4 billion, +26% but sales were also driven by and broadened its product & co., and adding naturals with new Zealand-based snowberry.

and kate somerville and  The esTée lauder cos.' brand e-commerce sites and portfolio into new categories. improved momentum from gains in 2018 were driven by other third-party retailers. safeguard, Old spice, Olay the repeat builDer dermalogica and murad. that distribution strategy (outside of facial skin care) and the company’s “multiple yellow Wood partners, which built up pdc via acquisition in the dollar shave club also saw has allowed lauder to reach secret also posted gains during engines of growth” strategy. mass market before selling it for more than $1 billion, is at it again double-digit gains, notably chinese consumers in more the year, the company has said. the most significant gains for with freeman beauty, the platform it bought in 2017. last year, the building its scale in the u.s. than 500 cities who don’t have that broader base of growth, lauder during the year came firm made its first add-on acquisition, paris presents—the owner of acquisitions boosted access to branded brick-and- outside of just sk-ii, is what from the skin-care category, real techniques, ecotools and body benefits by body image—for division revenues by 3.9%. mortar stores, but do have allowed p&g’s massive beauty travel retail, e-commerce $575 million, according to mergermarket. by geography, sales in india, and china. increasing spending power. operation to post a 6.4% gain. pakistan and bangladesh skin care skyrocketed—both While china now accounts p&g’s hair portfolio grew in grew. southeast asia grew for the estée lauder cos. for 11% of total company the low single digits, reflecting the tech play modestly, with indonesia and for the broader prestige sales, the u.s. remains stronger sales in latin america l’Oréal’s increased focus on digital under chairman and chief executive improving throughout the year. beauty world—in 2018. the lauder’s largest market, and europe. pantene’s 3 officer Jean-paul agon permeated the company’s m&a strategy in china reportedly benefited company’s growth was driven accounting for 26% of total minute miracle did well, as 2018, leading to the acquisition of artificial intelligence and augmented from premium innovations primarily by the estée lauder sales. emerging markets did its micellar product. that reality business modiface. While deal terms weren't disclosed, the and strong e-commerce brand, which has turned account for 25.5% of revenue. segment, particularly pantene, transaction had widespread implications—that l’Oréal would be growth. in north america, around in the wake of the is in the midst of its own Olay- ramping up ai and ar across brands, and that outside brands that deodorants and skin cleansing brand’s commercialization of inspired sku rationalization. worked with modiface would start to consider other options. were among growth drivers, the advanced night repair p&g focused on ingredients while latin american sales franchise, and la mer, which throughout the year, and the behinD-the-SceneS Move were hampered by declines in cemented its commitment to reached more than $1 billion in cornell capital led a private equity consortium in the takeover of argentina, although brazilian naturals through a partnership sales. la mer’s moisture cool knowlton development corp., a beauty manufacturing business business grew and mexico with the royal botanic gel cream, genaissance eye that handles product innovation, custom formulation, batch was strong, according to gardens kew mid-year. that and expression cream and processing, packaging and other services for big beauty companies. the company, with Quala genaissance infused lotion procter & partnership is meant to help 4 kdc built scale and expertise through a series of acquisitions performing well. boosted sales, as did the brand’s GaMble p&g push deeper into natural under prior owner novacap, which is said to have sold the business in europe, while volume distribution through tmall in ingredients, pairing them with CinCinnaTi, ohio for an 11.5 times earnings before interest, taxes, depreciation and sales grew slightly across china. geographically, skin the company’s own science. amortization multiple—on par with some brand deals. categories, central and care’s growth at lauder was 2018 beauty SaleS: p&g also went through the eastern europe performed driven by the u.s., china, south $13.2 billion (eST.) process to get environmental well and the u.k. reportedly korea and Japan. the category +6.4% VS. 2017 (eST.) Working group certification the new entrant sustained its return to growth. is now also starting to reach for the herbal essences beauty continued to draw in first-time investors during 2018, including market conditions in france millennial consumers, who are Main branDS: hair-care brand in december. gryphon partners, which invested in masstige makeup brand milani. were extremely challenging, seeing their first signs of aging. aussie, hair Food, head & those moves build on certain With the help of beautyveteran michelle taylor, the private equity firm the group said. makeup’s growth moderated Shoulders, herbal essences, acquisitions, like native, that evaluated many beauty businesses before finally landing milani, in a Pantene, rejoice, VS, Walker have a natural ingredient bent. deals said to hover between $450 million and $500 million. gryphon in 2018, in line with the broader prestige market. & Co. (hair care). First aid the deals continued for followed it with another beauty transaction in early 2019, carving out the estée lauder brand, mac beauty, SK-ii, Snowberry procter & gamble in 2018 with roc from J&J, and solidifying itself as a beauty investor. globally and tom ford helped (skin care). olay (skin and the acquisitions of snowberry, body care). old Spice the category gain sales, but first aid beauty and Walker & the Failure makeup sales from clinique (hair and body care, co., the parent company of hair- glansaol, which acquired Julep, clark’s botanicals and laura geller and smashbox were lower. deodorant). Gillette care business form and men’s in 2016, filed for chapter 11 bankruptcy protection after failing to expansion in fragrance sales (body care, deodorant). grooming operation bevel. find a buyer through an m&a process. glansaol, which was formed the eS tée has come in large part due The art of Shaving, ivory, that deal closed in december. 3 Safeguard (body care). by former revlon chief executive officer alan ennis and first-time to the company’s artisanal snowberry, a natural, prestige lauDer coS. beauty investor Warburg pincus, faced leadership turnover and brands, including Jo malone native, Secret (deodorant) skin-care brand, gives p&g neW yorK slowing sales. it sold to as beauty for $18 million in January. london, le labo, tom ford and increasing depth in natural Key FinancialS: 2018 beauty SaleS: by kilian. hair-care sales were products. first aid beauty sk-ii: has reached mOre than $14.2 billion (eST.) driven primarily by aveda. provides p&g access to a t he billion-Dollar baby $2 billion in sales new price tier—entry-point +11% VS. 2017 (eST.) travel retail continued to pat mcgrath’s makeup brand, pat mcgrath labs, managed to score prestige—but also provides it be a big driver in 2018. growth Organic beauty sales grOWth: a $1 billion valuation on about $60 million in retail sales, stunning Main branDS: with a brand that focuses on came from asia as well as +8% much of the investment world. private equity firm eurazeo brands estée lauder, aramis, specific skin concerns, like double-digit gains in the u.s. invested $60 million in the business for a small minority stake— Clinique, Prescriptives, lab and canada. big brands grew  For ProcTer & gaMble, sensitive skin. the Walker & said to be between 5 and 8 percent—fueling speculation that the Series, origins, maC, bobbi in the category, and lauder 2018 was a year of broad co. acquisition underscores brand is a takeover target for large strategic players.

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Top 100 in 2018_V5.indd 34 4/17/19 6:28 PM PROUD TO BE A PARTNER FOR THE TOP

Untitled-2 1 4/16/19 9:20 AM p&g’s commitment to the profit gain was attributed to in europe, the middle east cosmetics). Sally hansen, the brand has been able to by the nuM berS multicultural consumer, as sales growth and improvement and africa, shiseido-branded risque (nail products). gain some traction with the both form and bevel make in cost structure due to the skin care and nars performed Clairol, Wella Koleston, 24-and-under population, the products centered around strong performance of prestige well. the company worked biocolor (retail hair color). it has alienated its core that demographic. brands, while its major leap in on optimizing its regional adidas, Cenoura & bronze, 35-year-old Walmart shopper. playerS in addition to acquisitions, net profit was due to a prior-year operations to improve their Paixão, bozzano, monage in 2018, cover girl became nearly halF (48) of the p&g has started to incubate impairment loss on intangible profitability. (body care). bruno banani, officially cruelty-free with companies in the WWD potential beauty brands and and other assets related to bare travel retail was a high Katy Perry, David beckham, leaping bunny certification. Beauty Inc Top 100 are public new products, including Olay escentuals in the u.s., it said. point, mainly thanks to brisk nautica (mass fragrance). coty will continue to deal companies, with representation labs, which gives customers moderate recovery in increases in traveler numbers, with problems in its consumer prOfessiOnal beauty: divided fairly evenly between a personalized Olay regimen. Japan’s economy and increased especially in asia. shiseido, segment through 2019, Wella Professionals, North America, Europe and p&g beauty’s growth numbers of inbound tourists clé de peau beauté, nars laubies has acknowledged, System Professional, Asia. For the charts in this comes under the leadership of boosted shiseido’s domestic and anessa all grew, notably but the company’s other Sebastian Professional, section, we analyzed publicly alex keith, who took the helm sales for the year, helping it to in south korea, china and two segments—luxury and nioxin, londa Professional, available financial data to see of the division as president of outperform the market, which thailand. the channel is a professional—are more Kadus Professional, Clairol which companies performed global hair care and beauty in overall grew at a rate of 1%, growing area of focus for promising, with fewer problems. Professional, Sassoon best in a variety of areas. 20 17. in november, keith was according to the company. shiseido, and it introduced for 2018, the luxury Professional, Wella Color named chief executive officer products in the mid- to new brands, improve its retail segment posted robust Charm (professional hair of p&g beauty. high-price range, in which the presence and strengthen growth, even in times of back ¬ able c&c care). oPi (nail products). firm upped its investment, its relationship with major end component shortages, Ghd (stylers). ¬ alès groupe performed well. shiseido operators during the year. with revenues bolstered by ¬ amorepacific group/corp. continued to focus on core sales of professional Key FinancialS: blockbuster sales from gucci skin-related categories— skin products decreased luxury beauty net sales: bloom and tiffany, which are ¬ avon Products inc. care, base makeup and sun significantly due to the sale both top performers in the $3.3 billion, +10% ¬ bayer ag care. ultimune and revamped of Zotos international to u.s. and china. marc Jacobs cOnsumer beauty net sales: ¬ beiersdorf makeup products under henkel in late 2017, although daisy love, fronted by kaia $3.9 billion, -10% shiseido, as well as the brand’s the category grew 1% on an gerber, also did well. ¬ clorox co. ShiSeiDo increased focus on marketing organic basis. prOfessiOnal beauty net the professional division 5 ¬ colgate-Palmolive co. ToKyo to younger consumers, boosted personal care was a sales: performed strongly due to the brand’s domestic revenues. mixed bag, meanwhile. $1.8 billion, +1% contributions from ghd and ¬ compagnie Financière 2018 beauty SaleS: in international markets, senka increased its growth Wella, but nail brand Opi was richemont $9.66 billion (eST.) europe remained weak and momentum thanks to  2018 was anoTher year negatively affected by supply ¬ coty inc. ¥1.07 Trillion (eST.) growth slowed in the americas, stronger marketing in Japan, of transition for coty inc. chain issues in its north +7.6 % VS. 2017 (eST.) while china and the rest of asia china and south korea and the beauty company america warehouse. ¬ dabur india continued to perform well. in Japan, men’s brand unO continued to struggle to coty’s digital arm, a result ¬ e.l.f. beauty Main branDS: in china, prestige brands was on the recovery track. integrate some of the 41 of the 2015 acquisition of Shiseido, Clé de Peau ¬ edgewell Personal care shiseido, clé de peau beauté, however, tsubaki struggled. brands it bought from procter beamly, has continued to beauté, bareminerals, ipsa and nars continued the company’s areas of & gamble in 2016, mainly innovate, despite internal ¬ emami ltd. nars, laura mercier, ipsa, to do well, and elixir and focus for the year under phase in its consumer division, fluctuations. in 2018, the ¬ Shiseido Professional, elixir, The estée lauder cos. anessa saw strong growth. two of its vision 2020 strategic which includes cover girl, department went all-in on maquillage, anessa, Za, ¬ Fancl corp. chinese e-commerce sales plan included digitalization, rimmel and clairol, among voice technology through aupres, Urara, Pure & mild, increased significantly thanks new business development and other brands. the luxury partnerships with amazon ¬ godrej consumer Products ltd. Tsubaki, Sea breeze, Senka, to digital marketing and closer generating new value through and professional segments and google. coty developed D’ici la, ettusais. Fragrance: ¬ henkel collaboration with major innovation, including an upped fared better, but all three units a technology for amazon Dolce & Gabbana, issey ¬ hermès international online sales platforms. the marketing investment in were plagued by supply chain echo show that allows miyake, narciso rodriguez, firm also took initiatives to prestige brands. cross-border problems that negatively consumers to shop across ¬ interparfums inc. elie Saab, Zadig & Voltaire, improve the profitability of its marketing was a particular area affected sales. coty consumer brands and Serge lutens. ¬ Johnson & Johnson local brands aupres, Za and of focus, mainly addressing after a particularly rough learn different beauty looks. ¬ Kao corp. Key FinancialS: pure&mild in china. chinese consumers and first fiscal quarter, coty went the company also developed tOtal sales: in the rest of asia-pacific, treating Japan, china and travel through sweeping executive a google assistant tool for ¬ Kosé corp. shiseido, clé de peau beauté retail as a single market. changes. chief executive clairol that walks users ¥1.09 Trillion, +8.9% ¬ l brands (+8.8% at constant currency and nars saw strong growth, officer camillo pane left through the home hair- especially in south korea and was replaced by pierre coloring process. ¬ lg household & health care Japan: and thailand; nars gained laubies, who successfully going forward, laubies has ¬ lion corp. ¥454.56 billion, +9% across southeast asia with integrated the mondelez said supply-chain issues are ¬ lVMh Moët hennessy an expanded stand-alone coffee business into the expected to phase out, but china: louis Vuitton ¥190.8 billion, +32.3% store presence. dutch beverage giant Jacobs acknowledged the continued dolce & gabanna did well douwe egberts. at that time, work needed to turn around ¬ l’occitane group rest Of asia-pacific: in the americas and europe, bart becht, who orchestrated the consumer segment. “in ¬ l’oréal ¥68.12 billion, +13.9% the middle east and africa, coty inc. the p&g deal, stepped down consumer beauty, we need 6 ¬ Mandom corp. the americas: with its sales increasing 16% neW yorK as chairman, and in the to earn our right to grow,” he ¥131.73 billion, -1.8% to reach more than ¥50 billion following weeks, left coty told Wall street analysts in ¬ Marico ltd. globally thanks to increased 2018 beauty SaleS: february. “from a financial parent company Jab entirely. ¬ Milbon co. ltd. emea: investment aimed at tapping $9.06 billion (eST.) shortly after that, in early standpoint, gross margin ¥113.16 billion, +4.3% the brand’s growth potential. -1% VS. 2017 (eST.) improvement will become ¬ natura cosméticos 2019, laubies also assumed travel retail: elsewhere in fragrance, sales direct oversight of the our key area of focus. this ¬ nestlé Main branDS: struggled, except for the troubled consumer beauty means managing revenue and ¥87.62 billion, +34.7% luxury: ¬ noevir holdings narciso rodriguez brand. division; laurent kleitman, costs, improving product mix Calvin Klein, hugo boss, prOfessiOnal sales: in the americas, shiseido, who previously headed the and range, simplifying our ¬ nu skin enterprises inc. ¥20.32 billion, -57.6% marc Jacobs, Chloé, nars and laura mercier were sector, exited the company, portfolio and formulations, ¬ balenciaga, bottega Veneta, oriflame holding ag Operating incOme: high points. a new marketing as did ukonwa Ojo, who was and systemically deploying alexander mcQueen, ¬ Pola orbis concept for bareminerals, “the overseeing the relaunch of lean-inspired methodologies ¥108.35 billion, +34.7% Davidoff, miu miu, power of good,” was introduced cover girl, in early 2019. in our manufacturing and ¬ Procter & gamble co. net incOme: lacoste, Stella mcCartney, to rejuvenate the brand, the brands coty bought logistics operations.” ¥61.4 billion, +169.9% Tiffany & Co., Joop!, ¬ Proya cosmetics co. although its sales declined, from p&g were in worse Jil Sander, roberto ¬ in line with expectations, due shape than anticipated. the PZ cussons  increased inVesTMenT in Cavalli, escada (prestige to the scheduled closure of relaunches of those brands, ¬ rb (reckitt benckiser) and results from the prestige fragrance). Philosophy (skin unprofitable boutiques. some particularly cover girl and brands in its portfolio drove care, prestige fragrance). ¬ revlon 61 of these had shuttered as of clairol, were not immediately sales gains for Japan’s lancaster (skin care). ¬ January 2019. successful, and came at a shanghai Jahwa united largest beauty group in 2018. Gucci, burberry (prestige shiseido acquired second time when the mass market co. ltd. excluding the impact of the fragrance, color cosmetics). skin technology from Olivo ¬ sale of Zotos international broadly was struggling. cover shiseido co. laboratories in January 2018 cOnsumer beauty: girl, for example, has lost lvMh MoËt to henkel in 2017, constant- 7 ¬ Tupperware brands corp. with the aim of creating new younique, Cover Girl, currency sales grew 14%, the significant shelf space, and henneSSy value thanks to artificial skin rimmel london, max Factor, ¬ unilever firm said. a survey conducted by bmO louiS vuitton generation. bourjois, manhattan (color capital showed that while ¬ the company’s operating PariS walgreens boots alliance

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Beauty Inc Full-Page and Spread Template.indd 1 3/19/19 10:14 AM 2018 beauty SaleS: categories contributed sales continued to drive in 2012 and has held several announced plans to partner Dimensions, les 4 ombres, $7. 1 9 billion (eST.) increases and that growth buzz and introduced senior management roles, with WeWork to build an ombre Première, les beiges, €6.09 billion (eST.) was driven in large part by mattemoiselle lipstick. heading the group’s business innovation hub and start-up Vitalumière, le blanc, +9.6% VS. 2017 (eST.) its flagship beauty brands. in the americas since 2016 accelerator in seoul, backed by le Teint Ultra, Sublimage, parfums christian dior before being named deputy nivea, to support innovation in Joues Contraste (makeup). Main branDS: gained market share, with chairman in July last year. he beauty, with the first round of Parfums Christian Dior, J’adore boosted by a new previously held positions at entrepreneurs to be selected Key FinancialS: Guerlain, Parfums Givenchy, marketing campaign, miss tesco and nestlé. in the first quarter of 2019. main markets: Parfums Kenzo, Fendi, Pucci, dior gaining ground in asia the management change is rather than centering on its the u.s., china and Japan acqua di Parma, Parfums and sauvage all contributing expected to herald changes for home market, as many of represented an estimated loewe, benefit Cosmetics, to the brand’s success. the beiersdorf, which is rumored the beauty giants have done, 32% oF 2018 SaleS. make Up For ever, Fresh. portfolio was also extended beierSDorF to be a potential acquirer beiersdorf’s decision to base 8  growTh in asia and the maison Francis Kurkdjian with the launch of Joy by hambUrG, Germany for the nestlé skin health the project in south korea was skin-care category were the (majority stake). Kendo dior, fronted by Jennifer activity. in march 2019 the firm driven by the robust innovation 2018 beauty SaleS: primary drivers for privately brands: bite beauty, Kat lawrence. in makeup, announced that it would be scene there, notably when it $6.65 billion (eST.) held chanel in 2018, which Von D, marc Jacobs beauty, the brand was boosted injecting between €70 million comes to skin care. beiersdorf €5.63 billion (eST.) moved its global corporate ole henriksen, Fenty beauty by digital marketing and and €80 million this year also took an equity investment +1.6% VS. 2017 (eST.) headquarters to london. by rihanna. bulgari. louis strong performance in the into the consumer business in belgian life science firm the firm also saw strong Vuitton. Sephora. lip category thanks to the unit to invest in new markets, s-biomedic, with plans to work Main branDS: sales growth for its fragrance introduction of ultra rouge innovation, digitalization and together on research into the nivea, eucerin, la Prairie, and makeup, according to Key FinancialS: lipstick. dior’s skin-care up-skilling, part of a multiyear skin microbiome. lvmh perfumes and labello, 8×4, hidrofugal, estimates. business grew in asia, while investment program. hutterstock Florena, atrix, aquaphor, the ongoing development s cOsmetics divisiOn capture youth, introduced beiersdorf’s consumer Slek, maestro. of stand-alone retail and revenue breakdOWn in January 2018, drew a business unit delivered growth e-commerce were key by prOduct categOry: younger customer base to across all regions in 2018, with Key FinancialS: priorities for the year, with rex / ace/ its skin-care offer. cOnsumer divisiOn sales: the nivea, eucerin, aquaphor p fragrance: 35% new online sales platforms guerlain also performed €5.89 billion, +1.6% and la prairie brands all launching in canada and makeup: 47% well, with fragrance boosted contributing gains, according (organic sales growth: +5%) regory

south korea. g skin care: 18%. by the expansion of mon to the company. in fragrance, which saw the guerlain and the rollout cOnsumer divisiOn sales in 2018, nivea’s organic chanel liMiteD strongest gains in asia and the lvmh perfumes and of guerlain parfumeur by regiOn: 9 sales grew 2.8% boosted lonDon cOsmetics divisiOn Western eurOpe: u.s., the coco mademoiselle boutiques. in makeup, by the body, shower and raham by franchise was boosted by the g revenue breakdOWn rouge g tapped into €2.35 million, sun-care categories. sales 2018 beauty SaleS: launch of an eau de parfum by prOduct regiOn: demand for customization +3.2% (+3.9% organic) in the derma business unit, $6.51 billion (eST.) intense version fronted by france: 11% with its 450 possible case eastern eurOpe: which includes eucerin and €5.51 billion (eST.) keira knightley, as well as bleu and color combinations. €587 million, +1.1% aquaphor, grew 5.9%, with +7% VS. 2017 (eST.) rest Of eurOpe: 22% de chanel le parfum. unisex hutterstock; in skin care, Orchidée (+5.3% organic) strong performance in the s scent collection les eaux de u.s. 16% impériale and abeille royale u.s., germany and thailand. Main branDS: nOrth america: chanel launched worldwide in both drove sales growth. la prairie’s sales jumped Chanel no.5, Gabrielle Japan: 5% €441 million, Chanel, allure, allure limited distribution and n°5 givenchy performed well 38.5% on an organic basis, in fragrance in europe, while +3.4% (+7.3% organic) Sensuelle, Coco, Coco red edition boosted sales unch/ rex / rest Of asia: 35% boosted by travel retail, the over the holiday season. its makeup built traction latin america: skin caviar collection and mademoiselle, Coco noir, Other markets: 11% europe and asia were the edia p

Chance, Chance eau Fraîche, m in asia. benefit continued €610 million, -11.7% strong business in china, main contributors to growth in perfumes and cOsmetics to gain ground, reportedly (-2.8% organic) hong kong, australia and Chance eau Tendre, Chance the makeup category, which divisiOn prOfit frOm becoming the global market north america. eau Vive, no.19, Cristalle, africa/asia/australia: was boosted by face products recurring OperatiOns: leader in mascara with the beiersdorf entered a allure homme, allure homme €1.9 billion, including les beiges and le €676 million, +12.7% launch of badgal bang. it strategic partnership with Sport, allure homme edition +4.2% (+8.8% organic) is already the world leader netease kaola for cross- blanche, bleu de Chanel, teint ultra. in mascara, chanel’s Jones by tuart; number Of branded beauty le volume revolution was s in the brow category, a cOnsumer divisiOn ebit border trade in china to Pour monsieur, antaeus, stand-alOne stOres: aul

introduced using 3-d printing p position it consolidated excluding specical factOrs: increase nivea’s penetration egoiste, Platinum egoiste, 354, +17.2% technology for its innovative with its four-in-one brow €903 million,+2.5% through the fast-growing les exclusifs, les eaux pencil brow contour. make de Chanel (fragrance). brush, chanel being the first  The sTrengTh of the skin- channel. the move follows  The gerMan beauTy giant Sublimage, blue Serum, beauty brand to introduce such care category and growth up for ever was boosted tie-ups with Jd.com and named a new chairman in le lift, hydra beauty, technology on an industrialized in asia were a significant by online growth, while alibaba. if viewed as a country, 2018, with stefan de loecker CC Cream (skin care). scale. boy de chanel, the boon for lvmh’s beauty fresh was driven notably e-commerce is now one of taking over from stefan f. beiersdorf’s top five markets, le blanc (skin care, makeup). brand’s first makeup range business last year, although by its business in asia. fenty beauty by rihanna heidenreich on Jan. 1, 2019. according to the company. rouge allure, rouge Coco, le for men, was introduced in the company said that all by eckham photograph de loecker joined beiersdorf in december, the firm Vernis, inimitable, le Volume, south korea in september and b

year in beauty LayLa ILchI Looks back at the major events that shaped 2018.

Unilever unveils DaviD becKhaM TPR and Badgley its sustainable launches men’s Mischka sign beauty beauty brand, grooming brand license deal for Michelle Shigemasa Love Beauty House 99, which fragrances and a joins Murad as chief and Planet. he created with color cosmetics line. executive officer. L’Oréal.

January 1 8 9 12 16 17 18 24

After the departure Malin + Goetz hires of longtime editor in Revlon taps aShley braD horowitZ chief cinDi leive, GrahaM to front its Glamour taps former as chief executive “Live Boldly” campaign— CNN executive producer officer. she is the first plus-size SaMantha barry, model of her generation who oversaw social and to sign a beauty contract. emerging media, for the role. In November, Condé Clé de Peau taps Nast announces the actress Felicity cessation of the 80-year- JoneS as its new old publication in print. global face.

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Top 100 in 2018_V5.indd 38 4/17/19 6:28 PM NEXT EVENTS:

CHINA BEAUTY EXPO Shanghai from 20 thto 22 Maynd 2019 MAKE UP IN PARIS 20 -th 21 Junest 2019 NEW YORK - Chromavis Showroom from 9 thto 13 Septemberth 2019 COSMOPROF ASIA Hong Kong from 12 thto 15 Novemberth 2019

www.chromavis.com

Untitled-31 1 4/11/19 12:48 PM

represented by local celebrity BY MARKET: mass, reworking its offer  L BRAnds’ gRowth in 2018 airports, china, the u.K., Lee Dong Wook, and also Japan: according to whether a was carried by bath & body europe and South asia. but contributed to growth in the ¥217.7 BILLION, +1.3% brand is offered through Works. While victoria’s Secret inside north america, victoria’s category. it began rolling out counseling or via self-service remains the larger of the two Secret continues to plan store ReSt oF aSia: internationally in november. distribution with the intention businesses, its sales were closures. in 2018, 30 doors ¥34.7 BILLION, +36.7% in skin care, growth of giving its brands a clearer roughly flat in a year when the closed, and for 2019, plans call contributors included La crème aMeRicaS: positioning. overall, the firm larger brand faced increasing for shuttering 53 locations. Mains Riche, a new version of cc ¥6.4 BILLION, +1.9% hopes the moves will make L BRANDS competition from newer lingerie cream and the renovated First its beauty business more 11 brands that are centered around euRope COLUMBUS, OHIO beauty Steps cleansing line. consumer-centric, rather body positivity. the company ¥20.8 BILLION, +6.6% in December, chanel than distribution-channel 2018 BEAUTY SALES: has also been criticized by invested in Sulapac, a Finnish coSMeticS opeRatinG incoMe: driven, in line with changing $5.6 BILLION (EST.) Wall Street for its promotional start-up combatting plastic ¥ 27.7 BILLION, +113.3% consumer expectations. +3.7% VS. 2017 (EST.) activity, which has included discounts in the beauty waste accumulation thanks SKin- anD haiR-caRe: high points within the cosmetics business for 2018 MAIN BRANDS: assortment. beauty makes to biodegradable packaging ¥341.4 BILLION, +2.6% bath & boDy WoRKS: up about 15% of total sales innovation. were Suqqu, RMK, Freeplus AMOREPACIFIC Signature Collection, 12 BY MARKET: and curél, which all sold for victoria’s Secret, and saw GROUP Japan: well. Revenue gains for the Men’s Collection growth in the low single digits SEOUL ¥195.8 BILLION, +2.1% cosmetics business were (fragrance, body care). for the year. led by asia outside Japan, Aromatherapy, Water, For its part, bath & body ReSt oF aSia: 2018 BEAUTY SALES: CocoShea, Bath Fizzies, especially china. Sofina Works was able to grow $5.31 BILLION (EST.) ¥28.5 BILLION, +2% Face Masks (skin and body sales online and in stores. launched in Singapore, its KRW 5.84 TRILLION (EST.) care). Hand Cream aMeRicaS: fifth market and its first in the brand’s aromatherapy +0.4% VS. 2017 (EST.) ¥72.8 BILLION, +5.7% aSean. the company said (hand care). collection won bath & body

the significant improvement collection of the year at the MAIN BRANDS: KAO CORP. euRope: victoRia’S SecRet: 10 Fragrance Foundation awards, TOKYO ¥44.3 BILLION, +0.2% in operating income for its Victoria’s Secret Bombshell, Amorepacific, Sulwhasoo, and two of its fragrances—at cosmetics business during the Victoria’s Secret Bombshell Hera, Primera, Lirikos, 2018 BEAUTY SALES: SKin- anD haiR-caRe the beach and cucumber year was in part down to the Seduction, Victoria’s Secret Iope, Laneige, Mamonde, $5.63 BILLION opeRatinG incoMe: Melon—won consumer effects of sales improvements LOVE, Victoria’s Secret Hanyul, Etude, Innisfree ¥621 BILLION ¥48.8 BILLION, -1% choice awards at the event. for its strongly performing Heavenly, Victoria’s Secret (skin care and makeup). +3.7% VS. 2017 brands and its business in For the year, victoria’s Espoir (makeup).  AFtER REstRUctURing Very Sexy, Victoria’s Secret asia outside Japan. Secret saw a comparable Mise-en-Scene, Ryo, MAIN BRANDS: its operating units and Tease, Victoria’s Secret For the skin- and hair- sales decrease of 6% in Fresh Pop (hair care). Amos Kao: Bioré, Jergens, splitting out its “cosmetics” Eau So Sexy, Victoria’s care business, bioré grew stores, while bath & body Professional, Ayunche Curél (skin care). Sofina and “skin- and hair-care” Secret Crush, Victoria’s steadily in Japan and the rest Works posted a gain of 8% in (professional hair care). (skin care, makeup). Asience, activities starting in January Secret Very Sexy for Him, of asia, but was negatively comparable -store sales. Happy Bath, Illiyoon, Essential, Merit, Feather, 2018, Kao implemented a Victoria’s Secret Very Sexy impacted by competition in L brands drastically reduced Goutal Paris, Aestura. Liese, Blauné, Segreta, Cape, new growth strategy for for Him Platinum, Victoria’s the americas, where Jergens its store count, ending the year Prettia, John Frieda, Guhl, its cosmetics business Secret The Mist Collection products performed well,. with 753 stores outside the u.S. KEY FINANCIALS: Goldwell, KMS California, beginning in May 2018, (fragrance, mists and the company launched and canada, versus 877 at the aMoRepaciFic GRoup Oribe (hair care). Aube with the aim of optimizing lotion), Victoria’s Secret Rerise, targeting the end of 2017. victoria’s Secret totaL SaLeS: (makeup). Ban (deodorant, its brand portfolio and Velvet Matte Lip Collection, market for gray hair, which opened 29 locations outside KRW 6.08 TRILLION, +0.8% except in Japan). Molton enhancing its marketing, Victoria’s Secret Total Shine

performed well although of north america, bringing the X/Shutterstock Brown (fragrance, skin care). notably in digital. among Addict Gloss Collection, SaLeS in KoRea: overall, the hair-care business overseas total to 97 stores. Kanebo Cosmetics: Sensai, the initiatives, the group Victoria’s Secret Get Gloss KRW 3.91 TRILLION, -3.2% in Japan was impacted by the but victoria’s Secret beauty Kanebo, Kate, Freeplus, has decided to refine its Collection, Victoria’s Secret shrinking mass market there. & accessories closed some ReSt oF aSia: Suqqu, RMK, Suisai, Evita, brand offering, focusing on Angel Edit (makeup). e Weiss/R John Frieda was hampered doors, ending the year with 421 KRW 1.88 TRILLION, +8.1% Lunasol, Media, Allie, Chicca, growing the presence of by competition in europe. stores, a slight dip from the 429 Milano Collection, Aqua 11 global brands: Sensai, KEY FINANCIALS: noRth aMeRica: premium hair-care brand total company sales it ended with in 2017. bath and KRW 67.5 BILLION, +27.8%

Sprina, Coffret D’Or, Dew, RMK, Suqqu, est, Kanebo, Jaye Sara oribe, integrated into Kao’s (year ended feb. 2, 2019): body Works opened 50 new Twany, Impress, Lissage, Sofina ip, Molton brown, portfolio from January 2018, stores, bringing its total to 225. beauty SubSiDiaRieS SaLeS: L’Equil, Sala. Kate, Freeplus and curél, $13.24 BILLION, +4.8% saw strong sales. internationally for 2019, the KRW 6.32 TRILLION, +0.9% as well as a new brand bath & boDy WoRKS SaLeS: business is planning to open 20 beauty SubSiDiaRieS’ KEY FINANCIALS: scheduled for introduction $4.63 BILLION, +12% to 30 victoria’s Secret stores, opeRatinG pRoFit: totaL coMpany RevenueS: in 2020. in Japan, Kao 30 to 40 beauty & accessories KRW 552.5 BILLION, -24.1% ¥1.51 TRILLION, +1.2% is working to go beyond VictoRia’S SecRet SaLeS: stores, and 50 to 55 bath & traditional definitions of $7.38 BILLION, -0.2% inniSFRee SaLeS: coSMeticS: ¥279.6 biLLion, body Works locations, targeting prestige, masstige and KRW 598.9 BILLION, -7% by photograph arrymore +5% (+5% like-for-like) b

Coty Professional Beauty names Rossano Ferretti as global brand ambassador. Drew Barrymore’s Bliss relaunches as a Flower Beauty mass market skin-care Lush unveils its #Trans- rolls out to 500 line targeting Millennials. RightsAreHumanRights Ulta Beauty stores, campaign to bring NewBeauty names its second U.S. awareness to the former Elle beauty retail distribution discrimination and director Emily Dougherty partnership. dangers facing as its new editor in chief. transgender people.

FEBRUARY 1 7 9 15 23

Revlon and AllSaints team up for fragrance license deal. Amorepacific Group launches K-beauty brand Mamonde in the U.S. exclusively with Ulta Beauty.

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Top 100 in 2018_V5.indd 40 4/17/19 6:49 PM E X T R A C T I N G U N I Q U E P R E S E N C E Daarwin Images Images/Tetra W Banagan Images/John Didier D. Photographer Getty Getty

Untitled-51 1 4/15/19 8:59 AM etude hOuse sales: with further rollouts in the Kenra Professional, Joico, acquisitions and care and growth in the a sia- sales through geographic KrW 218.3 billion, -16% pipeline. european revenues Zotos Professional, oil divestments accounted for pacific region, as well as expansion in europe, the declined due to the 2017 Ultime, mad about (hair 7.6 % growth, while foreign geographic expansion from middle east and africa, amOrepacific cOr p. sales: termination of the lolita care and color). exchange had a negative Ogx and maui moisture. as well as latin america. 5.28 Trillion, +3% lempicka fragrance license; impact of 4.8%. in skin care, aveeno, amOrepacific cOr p. dOmestic annick goutal, now called Key FinancialS: in July, henkel opened its neutrogena, dr. ci:labo and sales: goutal paris, was revamped beauty care divisiOn sales: first beauty care laboratory dabao drove growth. aveeno KrW 3.35 Trillion, FlaT with new packaging and €3.95 billion, +2.1% in the middle east. based in did well in china, driven by (-0.7% liKe-For-liKe) amOrepacific cOr p. storytelling to tap into demand dubai, the facility is intended e-commerce and expansion Overseas sales: from the niche segment. to help innovate and test of its body collection to beauty care divisiOn KrW 1.97 Trillion, +8.2% digital and multibrand products specifically for the retailers including Watsons. Operating prOfit: store channels were also local market. neutrogena’s double-digit

including sales in asia: €589 million, +10% a focus overseas, including in december, it unveiled growth was driven by lG houSeholD KrW 1.87 Trillion, +8.2% grOup sales: 15 partnerships with tmall in nature box, a line of vegan continued expansion of €19.9 billion, -0.6% & health care sales in nOrth america: china and Watson in asia, hair and body products made its hydro boost Water SeoUl KrW 67.5 billion, +27.8% with hair-care brand mise en  henKel’s salon business with cold-pressed oils, in line gel moisturizer into other scene, for example, launching with consumer demands for categories, like masks, body 2018 beauty SaleS: sales in eurOpe: was a high point for 2018, in china last year. more natural products. and cleansing. the brand also $3.85 billion (eST.) KrW 29 billion, -19% outperforming in the the company is in the competitive category thanks unveiled a skin-analysis tool, KrW 4.23 Trillion (eST.)  souTh Korea’s beauty process of restructuring its mainly to product innovation. the skinscanner, that can +16.5% VS. 2017 (eST.) leader was hampered by the business model to increase the german firm bolstered assess a user’s skin condition Main branDS: weak performance of certain its focus on brand building, its position as global number when linked to an app. clean Whoo, Su:m37°, o hui, belif, of its brands in the domestic multichannel models, digital three in the segment, & clear targeted gen Z VDl, The Saga of Xiu, market in 2018, notably in the and travel retail looking registering what it described shoppers with c&c by clean CnP rx, Jane Packer home shopping and stand- forward, chairman suh kyung- as strong organic sales growth. & clear, which was developed (luxury skin care, makeup, alone store or so-called “road bae said during his new year sales for the division were in conjunction with 18-year fragrance), isa Knox, shop” channels. as a result, address at amorepacific’s boosted by schwarzkopf JohnSon & old influencer twins brooklyn 14 Sooryehan, CnP, lac Vert, it initiated moves to offer a headquarters in January. professional with innovations and bailey mcknight. JohnSon Vonin, VDiVoV, CoDe more omnichannel experience under the igora and blondme Johnson & Johnson neW brUnSWiCK, n.J. (premium skin care, in line with the expectations lines, as well as north acquired the rest of dr. makeup). on: The body of millennial and gen Z american brands kenra and 2018 beauty SaleS: ci:labo during the year, (body care). Fruits & Passion consumers. a new multibrand alterna. it was also the first $4.38 billion solidifying its base in Japan (body care, fragrance). store concept, aritaum live, year of integrated sales for +4.3% VS. 2017 and underscoring continued debuted in south korea, with interest from corporate elastine, reen, organist, Zotos international, acquired Dr. Groot (hair care). The plans to open around 300 from shiseido in late 2017. Main branDS: buyers for professional Face Shop, beyond (skin, neutrogena, Clean & Clear, locations nationwide and Overall, henkel said its brands. dr. ci:labo’s exuviance, neoStrata, body and hair care, streamline the presence of the henKel beauty business was strong in business nearly doubled 13 makeup, fragrance). DÜSSelDorF Dabao, bebe, Dr. Ci:labo, company’s brands in other emerging markets including in the asia region (outside channels. innisfree, etude labo labo (skin care). Japan), driven by china, hong the africa and the middle east Key FinancialS: house and espoir all declined 2018 beauty SaleS: Coverblend (makeup). kong, taiwan and singapore. region, latin america and tOtal sales: domestically due in part to $4.43 billion (eST.) aveeno, lubriderm, With the acquisition of dr. ci: eastern europe. in the mature KrW 6.75 Trillion, +10.5% reduced revenues from stand- €3.75 billion (eST.) le Petit marseillais, biafine markets of asia pacific, north labo parent ci:z holdings, alone stores. +2.1% VS. 2017 (eST.) (body care). rogaine, america and Western europe, Johnson & Johnson also Operating prOfit: domestic sales of the oGX, maui moisture acquired gen Z skin-care KrW 1.04 Trillion, +11.7% Main branDS: however, sales declined. firm’s luxury brands grew, (hair care). Sundown, brand labo labo, which retail: some 90% of sales for beautiful divisiOn sales: however, primarily due to the Piz buin (sun care). grew more than 50% in hong Schwarzkopf, Syoss, Taft, the division came from its KrW 3.91 Trillion, +19.1% strength of travel retail. kong, taiwan and singapore. Gliss Kur, Schauma, Palette, top 10 brands, and 45% Key FinancialS: in international markets, during the year, the company beautiful divisiOn brilliance, Got2b, Pert (hair stemmed from products cOnsumer divisiOn sales: the company accelerated sold antidandruff shampoo Operating prOfit: care). Fa, Dial, Tone, (bath introduced over the past $13.85 billion, +1.8% its expansion, with laneige KrW 783 billion, +23.1% and body care). Diadermine three years. brand nizoral to strada, entering australia through u.s. beauty sales: which negatively affected (skin care), n.a.e. (skin and sales of branded  lg household & healTh sephora, mamonde hitting $2.4 billion, +2.9% overall beauty sales numbers. body care), nature box (hair consumer goods fell, care, south korea’s second- ulta in the u.s., etude house in late december, J&J sold and body care). although hair colorants internatiOnal beauty sales: largest beauty firm, continued launching in the middle east, roc to gryphon partners. generated strong growth, and $2 billion, +6.1% to see brisk demand both laneige and etude house prOfessiOnal: the vogue international the activity was boosted by at home and abroad for the in india and laneige and igora, bC bonacure, osis, Johnson & Johnson’s portfolio, including Ogx innovation from schwartzkopf luxury brands in its portfolio, innisfree in the philippines, Silhouette, indola, blondme, growth was driven by skin and maui moisture, grew essensity, Sexyhair, alterna, and fa, henkel said. including Whoo, su:um37°,

Christian Louboutin Millennial media signs beauty license site PopSugar deal with Puig. launches Beauty German e-tailer by PopSugar, an Zalando enters Barneys New 85-stockkeeping- beauty with Zalando York unveils its unit line at Ulta Beauty, which carries “Conscious Beauty” Beauty. more than 120 brands category, which and 4,000 products. includes 17 brands across skin care and ingestibles.

March 1 5 6 11 13 16 23

Algenist names Rose Fernandez as chief executive officer. 2x Partners takes majority stake in Surratt Beauty. W3ll People receives minority investment from NextWorld Evergreen. The L’Oréal acquires investment will be used to ModiFace, the launch new products and company’s first broaden retail partnerships. major technology acquisition.

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O hui and belif, in 2018. after fast beauty and more trend- Main branDS:  in iTs FirsT full year of strong year, with constant- several years of ramping driven projects on the product Águas (fragrance). integrating the body shop currency sales up 31% thanks up its brands’ presence side. avon ramped up digital Chronos, Tez (skin care). business and under its new to solid performance in all overseas, notably in china and representative-training Tododia (skin care, corporate identity natura & channels and geographies. in and travel retail, international efforts, and launched its deodorant). Sou (skin, co., brazil’s biggest beauty 2018, the brand entered russia revenues broke the krW first e-brochure that is now bath and hair care). ekos player worked on modernizing and belgium. sales in australia, 1 trillion barrier for the available to representatives (fragrance; hair, skin and its direct-selling operations its domestic market, were up first time, according to the avon in more than 50 countries. body care). Una, Faces through digitalization, 18%. the brand opened 18 new company, growing 51% year- 16 Zijderveld’s plan for avon (makeup, fragrance). diversifying its distribution stores over the year. proDuctS inc. on-year. star brand Whoo includes a hyper focus on the amó, essencial, esta Flor, channels and continuing to natura continued to push lonDon grew particularly strongly, company’s representatives, biografia, humor, ilía build its international footprint. ahead with its sustainability With all three of its brands with its sales up 42% versus 2018 beauty SaleS: but rep declines continued (fragrance and body care). initiatives, signing the global contributing to sales growth, commitment pact for the 2017 and surpassing krW $3.75 billion throughout the year, alongside Kaiak, Kriska, luna, #urbano the firm said each is asserting eradication of plastic waste 2 trillion. su:um 37°, the -9.6% VS. 2017 sales drops. sales were hurt (fragrance). aquarela its individuality while benefiting and developing new initiatives group’s second-largest by declines in brazil, avon’s (makeup). Plant (hair care). luxury beauty brand, gained Main branDS: largest market, due in part Sève, erva Doce (body care). from the scale, resources, under its three brands. in 2018, 15% to krW 430 billion. avon True, anew, to a truckers’ strike in the natura homem (men’s best practices and strategic natura received “the leaping high-end lines under su:um avon Care, Skin-So-Soft region. Zijderveld initiated fragrance, skin and hair care). direction of the group. in bunny” label from the cruelty free international organization 37° and O hui outperformed (skin care). Footworks scaled recruitment meetings mamãe e bebê (mother and brazil, the natura brand and peta certification. its ekos both brands overall as the (foot care). advance in regions like asia in order to baby body and hair care, gained market share during line earned the new sourcing company sought to boost Techniques (hair care). boost representative sign-ups. fragrance). naturé (children’s the year, notably in categories With respect label from the competitiveness by focusing mark (makeup). Far away, it has worked in countries skin, body and hair care). like fragrance and body. the union for ethical biotrade, one on premium differentiation. Full Speed, Today Tomorrow like india, where the business Fotoequilibrio (sun care). fourth quarter in brazil was of only two beauty companies nevertheless, the always (fragrance). has successfully added to its aesop (skin, body and its ninth consecutive quarter domestic market remained representative count. scale hair care, fragrance). of double-digit gains in worldwide to do so. complex for lg, hampered Key FinancialS: recruitment meetings— The body Shop. consultant productivity thanks in march 2019, natura by a sluggish economy skin care sales: which have since been rolled to enhanced digitalization confirmed it was in talks to and a slow recovery in $1.47 billion -9.2% out more broadly—are an Key FinancialS: capabilities and increased potentially buy avon products adJusted net revenue adoption by consultants, and inc. and north american arm inbound tourism. fragrance sales: example of the repeatable grOWth: +13.5% growth on the domestic market new avon. lg household & health $1.43 billion -7.7 % business models Zijderveld care’s Japanese affiliate is focusing avon on as part of cOnstant-currency was at its highest since 2010 ginza stefany acquired makeup sales: the turnaround. sales grOWth: +8.6% for the period. natura also 100% of avon Japan in $845.3 million -13.5% the business’ stock price increased its store footprint, natura net sales: april for ¥10.5 billion, remained low, closing the diversifying its distribution eurOpe, the middle east r$8.45 billion, +9.9% the equivalent of $96 and africa: year at $1.52. strategy and ending the year million, with the aim of $2.09 billion -1.8% in early 2019, the group natura dOmestic net sales: with 36 domestic boutiques. strengthening its business said it would cut 10% of r$6 billion, +8% in the rest of latin america, sOuth latin america: its staff, on top of an 8% natura saw strong growth in all in that market. natura latin america $2.15 billion -3.2% countries, especially in mexico, Mary Kay Within the healthy reduction for 2018. net sales: 18 DallaS division, which includes the nOrth latin america: the business is also r$2.4 billion, +14.6% colombia and argentina, planning to cut 25% of despite hyperinflation and firm’s personal-care brands, $809.3 million -0.3% 2018 beauty SaleS: On: the body grew its sales stockkeeping units. the bOdy shOp net sales: exchange rate effects there. asia-pacific: $3.5 billion (eST.) by 8%. the firm sought to r$3.89 billion, +166.8% for the body shop, sales on $470.8 million -9.2% (based on only four months FlaT VS. 2017 (eST.) strengthen its personal-care of integrated business in 2017) an adjusted basis grew 17.7%,

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s and were up 1.7% in constant- portfolio in china, launching  aVon swaPPed ouT most Main branDS: aesOp net sales: currency terms. some 62 several new brands there of its top staff in 2018 under mary Kay (makeup, r$1.06 billion, +50.6% underperforming owned stores during the year, as well as new chief executive officer skin, sun, bath and body care, and 52 franchised outlets were bolster its online presence. Jan Zijderveld, who joined natura grOss prOfit: fragrance), TimeWise 3D, closed during the year, and Overseas sales for the the business from unilever r$5.72 billion, +9.5% botanical effects, Satin hands, business unit, which also the company is undertaking a Clear Proof (skin care), mKmen rex / roadimage/ in february. Of avon’s top the bOdy shOp grOss prOfit:

b brand transformation, in which offers oral care, laundry 35 leaders, 73% were new at natura & co. (men’s skin care, fragrance). 17 r$2.94 billion, +171% it invested r$98.5 million last and cleaning products, the end of 2018. Zijderveld SÃo PaUlo year, that is said to be showing grew 9% to krW 265 outlined his turnaround aesOp grOss prOfit: Key FinancialS: 2018 beauty SaleS: encouraging results. the billion during the year, plan for the business, which r$948 million, +51.3% n/a while its total sales dropped $3.69 billion revamp includes redesign and includes “opening up avon” grOup cOnsOlidated  Following lasT year’s by photograph r$13.4 billion store footprint optimization. 3.7% to krW 1.46 trillion. and building a simpler net incOme: +36% VS. 2017 aesop had a particularly appointment of dr. lucy loss business. he’s also initiated r$548.4 million, -18.2% k gildea as chief scientific

Kourtney Kardashian joins Kim Kardashian West in on the movement to partners with her L’Oréal launches improve FDA regulations longtime makeup artist, its incubated in the beauty industry. Mario Dedivanovic, sustainable The reality TV star goes to for a KKW Beauty beauty brand Seed Washington, D.C., to show collaboration. The duo Phytonutrients. her support for the Personal release a 10-pan eye Care Products Safety Act, shadow palette inspired which was introduced by by Kardashian West’s Senators Dianne Feinstein best-known looks. and Susan Collins.

aPril 3 5 12 19 20 24 26

Jennifer Lopez and CVS unveils its “Beauty Inglot Cosmetics debut a 70-item Women’s shaving in Real Life” Campaign, makeup collection. start-up Billie featuring marketing receives $6 million images that haven’t been retouched. Bobbi Brown is back in seed funding. with her next venture: Estée Lauder names Evolution_18, a wellness model Karlie Kloss as its brand that offers latest global spokesmodel. ingestible supplements.

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Top 100 in 2018_V5.indd 43 4/17/19 6:28 PM officer—a move designed organization. chuan which increased volume Fasio, elsia, nature & Co, nail rimmel brand products in  debra PerelMan was to emphasize focus on harper was named senior sales in the region by 5%, holic, Softymo, Clear Turn, Japan was terminated on named the first female chief product development and vice president and chief according to the company. Suncut, Decorté, Jill Stuart, Oct. 31, 2018. executive officer of revlon increase the company’s manufacturing officer. the acquisitions brought addiction, Prédia, Paul in may, following the exit number of patents—mary colgate into the world of Stuart, awake, albion, Tarte, of fabian garcia, who had kay opened a new global professional beauty, in Dr. Phil Cosmetics, maihada, reorganized the company. manufacturing and research particular skin-care, which Stephen Knoll new york, Cell perelman is the daughter of and development facility in is one of the fastest-growing radiance, Spawake. ronald perelman, chairman of lewisville, tex. Opened in categories in the u.s. market. the revlon board and majority Key FinancialS: november, the richard r. pca, well-known for its owner of the company. (nine months to december 2018): professional peels and retinol rogers manufacturing/r&d  reVlon esTablished an products, delved deeper into cOmpany net sales: center also represents revlon inc. in-house marketing agency ¥247.88 billion, +10.9% 21 colGate- essential and post-procedure neW yorK a push to increase u.s.- 19 and content studio, red skin care with several key based manufacturing palMolive co. Operating prOfit: house, as part of the overall launches in 2018, including 2018 beauty SaleS: capabilities. highlighting its neW yorK ¥46.28 billion, +18.7% expansion of its digital a hydrating toner and mask, $2.57 billion deepening focus on scientific strategy. it also launched tinted eye cream and skin Japan sales: -4.4% VS. 2017 advancements, the company 2018 beauty SaleS: e-commerce sites for ¥181.36 billion,+6.3% sponsored the international $3.1 billion (eST.) hydrator with spf. Main branDS: elizabeth arden in the investigative dermatology +5.8% VS. 2017 (eST.) Organic sales growth rest Of asia sales: revlOn: u.k. and Juicy couture beauty symposium on “pollution and in the liquid hand soap ¥36.74 billion, +53.8% revlon, revlon Professional, and american crew in the u.s. skin health: new perspectives Main branDS: category also drove nOrth america sales: revlon ColorSilk and intervention strategies.” Palmolive, Speed Stick, personal-care sales in its  reVlon launched its ¥27.2 billion, +0.7% the symposium was the latest Sanex, Protex, Caprice, largest market. eliZabeth arden: first incubated brand, flesh, in a series of partnerships with lady Speed Stick, Softsoap, in europe, revenue Other sales: elizabeth arden, Ceramide, a makeup line developed by the scientific and academic irish Spring, Tom’s of maine gains were driven by oral ¥2.58 billion, +21.9% Prevage, eight hour linda Wells and launched

communities committing (deodorant, skin care, lip care, rather than beauty; exclusively at ulta beauty. pOrtfOliO: care). PCa Skin, eltamD the company also saw  in The FirsT year of its plan to funding skin-health  The business sTruggled to reinforce its global brands almay, american Crew, CnD, research and pushing the (professional skin care). declines in personal care in and sales slumped in 2018, and consumer engagement, mitchum, Cutex, Creme company’s image as an latin america, asia, africa in part due to a continued Key FinancialS: sales in the upper prestige of nature, natural honey, industry innovator. and eurasia, with varying softening of the u.s. mass tOtal cOmpany sales: category, notably from decorté, SinfulColors, D:Fi, Gatineau the may introduction performance by category market. elizabeth arden skin $15.54 billion, + 0.6% drove revenue gains, as did of mary kay timeWise 3d and market. shampoo fragrances: care sales were said to be albion co. ltd and tarte. in was the company’s largest Oral, persOnal and sales declined in asia, as Juicy Couture, John strong in china. Japan, One by kosé reported launch to date, it said. the hOme care sales: did deodorants in africa Varvatos, allSaints, la Perla, increases, partly thanks to the new skin-care regimen is $13.16 billion, FlaT and eurasia. the bar soap britney Spears, Curve, Wrinkless, a cream offered marketed toward millennials business also contributed to Giorgio beverly and contains a patent- SaleS by reGion: drops in personal-care sales in the “quasi-drug” category hills, ed hardy, Christina nOrth america: pending technology that is in several markets. for reducing wrinkles, a new aguilera, Jennifer aniston, $3.35 billion, +7.5% category in Japan after a said to provide antioxidant lucky brand, halston, change in the law allowing protection against lifestyle eurOpe: Geoffrey beene, alfred Sung, and environmental $2.5 billion, +4.5% for beauty products to offer mariah Carey, elizabeth

aggressors. the launch antiwrinkle claims. lechéri, a Taylor. Paul Sebastian. latin america: Groupe rocher indicates a shift in marketing new midpriced skin-care brand, 22 hutterstock $3.6 billion, -7.5% iSSy-leS-moUlineaUX, s to a younger customer than also drove domestic sales. Key FinancialS: FranCe the company’s core. asia: internationally, south revlOn net sales:

internal promotions $2.7 billion, -1.5% korea and china performed $998.3 million, -8.4% 2018 beauty SaleS: continued to emphasize KoSé corp. well. duty-free sales in Japan africa and eurasia: eliZabeth arden net sales: $2.52 billion (eST.) rex / auren/ 20 and abroad were strong. in l the company’s heightened ToKyo $967 million, -1.5% $490.2 million, +13% €2.14 billion (eST.) focus on its manufacturing china, decorté began offering 2018 beauty SaleS: +30.1% VS. 2017 (eST.) and r&d capabilities.  reVenue gains in north sales via online counseling. pOrtfOliO net sales: $564.6 helsea

c $2.97 billion (eST.) in september, deborah america were the main driver tarte’s gains were driven by million, -4.7% Main branDS: of beauty growth for colgate- ¥327.72 billion (eST.) expansion in specialty stores gibbons was promoted fragrances: yves rocher, Daniel palmolive in 2018, notably +10% VS. 2017 (eST.) and online in the u.s., as from chief financial officer $511.4 million , -11.5% Jouvance (skin and body to chief operating officer, thanks to the acquisitions Main branDS: well growth in e-commerce care, makeup, fragrance). assuming responsibility for of professional skin-care infinity, Sekkisei, one by in europe and australia. the net lOss: Dr. Pierre ricaud (skin the global supply chain and brands pca skin and eltamd, Kosé, astablanc, Crie, licensing agreement with coty $294.2 million, -60.6% and body care, makeup). inc. that allowed kosé to sell research and development completed in January 2018, esprique, lechéri, Visée, iD Parfums (fragrance). by photograph evine l

Viking Global Pat McGrath Labs Investors Andy Warhol’s L’Oréal purchases teams up with The Met purchases a Interview Magazine Pulp Riot, the to launch the museum’s majority stake shuts down after hair color brand first cosmetics range. in Birchbox. filing for Chapter 7 created by Luxury bankruptcy. In Revlon names Brand Partners, International Flavors & August, owner Peter Debra Perelman for an undisclosed Fragrances Inc. acquires Brant then decides as president and amount. Frutarom with a $7.1 L’Oréal acquires to “relaunch” the chief executive billion deal. This lets South Korean magazine, despite officer. Perelman Topix the fragrance supplier beauty brand having $3 million in is the company’s Pharmaceuticals take a deeper dive into Stylenanda. unpaid debts. first female ceo. acquires Derma E. natural ingredients.

May 1 2 3 4 7 17 21 22 23 28 29

Rodan & Fields, Valentino and L’Oréal which hit 2017 Scentbird, a sign a fragrance sales of $1.5 billion, subscription- Saks Fifth Avenue and beauty license gets investment based fragrance unveils a revamped agreement, which will from TPG. company, raises beauty floor, a go into effect at the $18.6 million in 32,000-square-foot beginning of 2019. series A funding. space that includes YSL taps niche brands and an Shiseido appoints Adam Levine as open floor plan. Isabelle Gex to the the new face of its newly created role men’s fragrance, Y. of president of global fragrances.

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Top 100 in 2018_V5.indd 44 4/17/19 6:28 PM STANHOME CHANGING LIVES:  IN JULY, Groupe Rocher and drove cross-selling of Herrera, Jean Paul Gaultier, development of both its SKIN CARE: 64% Stanhome, Kiotis (skin purchased the remaining 33% other products from the Nina Ricci, Penhaligon’s, direct-to-consumer and FRAGRANCE: 26% and body care, fragrance). stake in Israeli brand Sabon it brand. The product rolled out L’Artisan Parfumeur, wholesale businesses. MAKEUP: 10% Flormar (51%). Sabon. did not already own. to Hong Kong, Taiwan and Prada Parfums,  PUIG ADDED THE GROWTH BY CATEGORY: Thailand during the year. Pola Valentino Parfums, ARBONNE:  ACCORDING TO ESTIMATES, Dries Van Noten brand SKIN CARE +18% also began to o¥ er full-scale Christian Louboutin Beauté, Arbonne, Nature’s Gate. the Yves Rocher brand to its fashion portfolio in MAKEUP +4% aesthetic services in China. Comme des Garçons registered sales gains in both June; while the label does not FRAGRANCE -4% Parfums, Eric Buterbaugh Los KEY FINANCIALS (EST.): France and Italy in 2018.  ORBIS SOUGHT TO currently o¥ er fragrance, it is Angeles, Antonio Banderas, GROWTH BY REGION: GROUP SALES: initiate turnaround e¥ orts seen by observers as having Shakira, United Colors of €2.5 BILLION, +13.6% (EST.) through enhancing brand potential in the category. The EUROPE, THE MIDDLE EAST Benetton, Adolfo Domínguez. AND AFRICA +2% SALES BY DISTRIBUTION di¥ erentiation, stepping up fi rm’s license with Valentino AMERICAS +2% CHANNEL: promotional e¥ orts for core ended as the fashion house KEY FINANCIALS: ASIA-PACIFIC +38% RETAIL: 40% products and with a new brand LIKE FOR LIKE SALES GROWTH: signed with L’Oréal, e¥ ective message, “Simply you, Simply Jan. 1, 2019, and rumors are DIGITAL: 5% +5.6% (EST.)  SKIN CARE WAS the core beautiful.” Anti-aging, skin-care also circulating on the market MAIL-ORDER: 15% driver of Groupe Clarins’ TOP MARKETS: DIRECT SALES: 32% line Orbis U got a revamp. surrounding the Prada license. Spain (12% of beauty growth last year, notably OTHER: 8% POLA ORBIS Nevertheless, the brand’s 23 revenues), the U.K. and  AMONG EXECUTIVE moves, thanks to the continued global sales fell, although it did gain HOLDINGS José Manuel Albesa was success of the relaunched new customers and witnessed the U.S.  IN JANUARY 2018, Groupe TOKYO promoted to the newly eighth-generation Double Rocher announced it would growth in China, and its  CURRENCY FLUCTUATIONS created role of president Serum, introduced in 2017. acquire U.S.-based Arbonne 2018 BEAUTY SALES: operating income grew due to meant Puig’s sales dipped brands, markets and International, tapping into $2.1 BILLION improved cost e ciencies.  CHINA BECAME the fi rm’s slightly in 2018, given the operations. He was previously synergies and aiming to ¥231.21 BILLION biggest market in 2018—up  OVERSEAS BRANDS company’s exposure to chief brand o cer. Nina Ricci enhance its direct-selling +1.8% VS. 2017 from fourth position in 2017— Jurlique and H2O Plus also emerging markets, with the named Charlotte Tasset as model to move toward a with sales there growing 30% initiated strategic initiatives main impact coming from general manager for fashion “social selling” concept MAIN BRANDS: year-on-year, while revenues to drive sales, but the the Argentine peso, U.S. and fragrances. rather than traditional Pola (skin care, makeup), in Hong Kong jumped 45%. former was impacted by a dollar and Brazilian real. The direct selling. The deal was Orbis (skin care, makeup). sluggish market in China and implementation of the IFRS 15  TRAVEL RETAIL WAS another finalized in March, adding Jurlique, H20 Plus, Three, Australia, while the latter accounting principles also had a driver, with sales increasing 30%. a company with 2017 beauty Decencia, Amplitude, Itrim, was hit by its withdrawal negative e¥ ect on the privately sales of an estimated Fiveism x Three.  IN FRAGRANCE, despite an from major retailers. owned company’s top line. $556 million to Groupe overall decline in revenues, KEY FINANCIALS: Rocher’s portfolio, and  WITHIN POLA ORBIS’ brands  AMONG BUSINESS drivers, Azzaro’s Wanted and Wanted by making Arbonne its second TOTAL SALES: under development division, Carolina Herrera’s Good Girl Night continued their success. ¥248.57 BILLION, +1.7% Three and Decencia grew was boosted by geographic label in terms of sales. GROUPE CLARINS  CLARINS’ BRAND general their sales and the company expansion in Europe and the BEAUTY CARE OPERATING 25 manager Natalie Bader left  IN JUNE, Arbonne named a NEUILLY-SUR-SEINE, INCOME: added three new brands launch of EDP Légère. Paco FRANCE the company in summer 2018 new chief executive o cer, during the year, Amplitude, Rabanne was bolstered by ¥38.29 BILLION, +0.5% and was replaced by Katalin Jean-David Schwartz, Itrim and Fiveism x Three. XS for Her and the positive 2018 BEAUTY SALES: Berenyi, most recently artistic previously ceo of Yves Rocher  IT WAS A mixed year for Pola performance of the Million $2.04 BILLION (EST.) director of L’Occitane Group, North America; Kay Zanotti, Orbis. While Pola saw Lucky duo. Jean Paul Gaultier €1.73 BILLION (EST.) in February 2019. who had headed Arbonne for its brand sales and operating continued to grow, once again +10% VS. 2017 (EST.) nine years, retired. Two other income grow after initiating boosted by Scandal. Groupe Rocher executives e¥ orts to strengthen its MAIN BRANDS:  PUIG CONTINUED to hone moved to Arbonne, Astrid Van business foundation and CLARINS: its focus on niche brands, Ruymbeke as chief fi nancial improve brand value through Clarins (skin care, makeup), increasing its stake in Eric o cer and Vincent Taglioni as highly functional products and Clarins Men (men’s skin care). V P, operations. an expanded store network, the Buterbaugh’s EB Florals PUIG CLARINS FRAGRANCE GROUP: company’s other core business, 24 fragrance business to a  IN TURKEY, the group had BARCELONA Mugler, Azzaro. Orbis, struggled. majority share and signing

Lauren/REX/Shutterstock Chelsea troubles with Flormar after 2018 BEAUTY SALES: a long-term licensing AMWAY unionized employees were  POLA’S WRINKLE Shot MY BLEND BY DR. OLIVIER COURTIN. 26 agreement for Christian ADA, MICH. $2.08 BILLION (EST.) laid off from its factory, Serum, the ﬁ rst medicated Louboutin’s beauty €1.76 BILLION (EST.) KEY FINANCIALS (EST.): leading to a boycott which cosmetic product in Japan 2018 BEAUTY SALES: business, considered to CONSTANT-CURRENCY also inspired demonstrations -1% VS. 2017 (EST.) approved under quasidrug have high growth potential. SALES GROWTH: +10% $1.8 BILLION (EST). outside some of Yves rules for improving wrinkles, Penhaligon’s saw double- +5.3% VS. 2017 (EST.) MAIN BRANDS: PRODUCT CATEGORY Rocher’s stores in France. attracted new customers digit growth, with strong Paco Rabanne, Carolina BREAKDOWN: MAIN BRANDS: Amway: by photograph Levine

Jessica Alba’s The Markwins enters Makeup brand Revlon releases Flesh, Honest Co. gets $200 prestige beauty with Lime Crime receives a prestige cosmetics million investment the acquisition of Lorac. investment from line with 40 shades of from L Catterton. The Tengram Capital foundation created by investment will be Direct-to-consumer Partners and names former Allure editor in used to accelerate feminine care brand Stacy Panagakis as its chief Linda Wells. international growth Lola receives a $24 new chief executive and help revamp the million Series B round o cer. Industry sources brand’s cosmetics line. of investment led by estimate the brand ACG, and with investors earned $30 million in such as Karlie Kloss net sales in 2017. and Lena Dunham.

JUNE 6 8 12 13 18 19 21 24 29

Buxom taps Vox Media shutters Shiseido names Shay Mitchell as Racked, its fashion- Jill Scalamandre global creative focused web site. president of Bare brand ambassador. Escentuals. She The actress will Rimmel exits Ulta also serves as be collaborating Beauty as part of the president of with the brand TPG Capital its plan to relaunch Shiseido’s Global on campaign makes a minority the brand and focus Makeup Center for development, social investment its U.S. distribution Excellence. media strategies in Anastasia on mass, drug and and new products. Beverly Hills. e-commerce channels.

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artistry, artistry Studio, Soltan, Soap & Glory, boots weak trading environment in category, foreign currency Main branDS: redefine, Darrow, Glytone (skin and beautycycle, artistry men laboratories, alvita, liz certain key markets, notably headwinds and macroeconomic reverse, Unblemish, Soothe, body care). Ducray, Klorane (skin care, makeup). body earle, Sleek makeUP, Cyo, the u.k., where it is revamping uncertainties that the group enhancements, essentials (skin, hair and body care). Series/G&h (body care), yourGoodSkin. flagships to put a greater said hampered its sales. (skin care). rené Furterer (hair care). Satinique, ertia (hair care). focus on beauty. elancyl (body care).  l’occiTane continued to Key FinancialS Key FinancialS: n/a (FY ended Aug. 31, 2018): Key FinancialS:  sebasTian JaMes was enact a “hero product strategy,” Key FinancialS: tOtal sales: retail pharmacy usa sales: named senior vice president choosing to undertake fewer  TPg caPiTal Made a Organic sales grOWth: $8.8 billion, +2% $98.39 billion, +12.7% but larger-scale launches to strategic minority investment in +3.5% and president and managing enhance its image in face care, rodan + fields in may 2018. beauty and persOnal care retail pharmacy director of boots, effective internatiOnal sales: including immortelle reset (including Oral care): internatiOnal sales: sept. 3, 2018.  The coMPany enTered the 69% oF beaUTy reVenUeS serum, introduced in september. 26% oF reVenUeS $12.28 billion, +4% dermo-cosmetics category (UP From 68%) performance was also driven by with the launch of radiant tOp markets:  walgreens booTs marketing initiatives to enhance defense perfecting liquid, grOup sales: China, JaPan, The U.S. alliance continued to ramp engagement, for example €2.32 billion, +0.5% a skin-care-makeup hybrid up its beauty business in working with celebrities in china. product.

 aMway raMPed uP iTs the u.s. and china in 2018.  sales gains For groupe  The grouP’s emerging  deanna Jurgens Joined digital initiatives in 2018, initiatives include the pierre fabre’s beauty brands—melvita, erborian, the company as chief expanding its e-commerce launch of a boots flagship activity were driven by l’Occitane au brésil and global sales officer in april and social selling capabilities on alibaba’s tmall global double-digit growth in l’occitane limelife by alcone continued 2018, charged with growing and building new tools for offering beauty brands 28 asia and the americas. global revenue across the salespeople, including the Group to boost sales, the latter including no 7, soap & glory countries rodan + fields  low single-digiT growth in artistry virtual beauty app, Plan-leS-oUaTeS, growing significantly in the u.s. and boots cucumber. and entering markets including sells in—including the u.s., europe was impacted mainly by which allows people to “try SWiTZerlanD canada and australia. she is the sluggish french market. on” makeup and get skin-care  The coMPany’s “beauty canada, the u.k. and france. 2018 beauty SaleS: also charged with overseeing recommendations and was differentiation” stores in the  sTraTegic highlighTs for $1.67 billion (eST.)  sylVain desJonquères the company’s global sales downloaded 260,000 times. u.s., which now number around team as well as learning and the year included the opening €1.41 billion (eST.) was named group managing 3,000, continued to outperform director in april 2018. development, field marketing of a new innovation center  Key ProducT launches +6.7% VS. 2017 (eST.) regular stores. boots brand no7 and communications, and in brazil, a concept store included artistry signature is now available in almost 10,000  l’occiTane acquired the programs and recognition for and e-commerce web site in select personalized serums and Main branDS: doors in the u.s. as well as on uk-based skin-care brand the company’s consultants. poland, and an investment masks, tapping into demand l’occitane en Provence Walgreens.com. elemis from l catterton for in french indie beauty brand for personalization, and artistry (skin, hair, body and men’s  The coMPany increased $900 million, its largest m&a même, which specializes in studio, a trend-driven collection  in ocTober, Wba announced care; fragrance; makeup). its focus on crm in 2018. chief operation since going public. skin care for women affected of makeup and bath and body a partnership with birchbox melvita. l’occitane au brésil. executive officer diane dietz the deal was expected to be by cancer. the company products aimed at younger to launch birchbox corners erborian (63%). limelife has credited growth to repeat finalized in the first quarter of hopes to expand the brand consumers, which allowed the offering more than 40 prestige by alcone (60%). purchases and continuing 2019, with l’Occitane planning through developing its brand to triple the size of its brands in select Walgreens relationships with consumers. to expand the brand’s presence business with treatment under-35 consumer base. stores— beginning with a pilot Key FinancialS: notably in asia-pacific. (9 months to dec. 18): facilities and pharmacies. of 11 stores—and a curated net sales:  The coMPany creaTed birchbox shop on Walgreens.  Pierre Fabre dermo- Obratori, a start-up com. the move involves Wba €1.09 billion, +8.5% cosmétique named núria incubator based in marseille, taking a minority stake in the perez-cullell as its ceo, like-fOr-like sales grOWth: france, focused on beauty box firm. effective september 1, +10.6% cosmetics and well-being.

following the appointment of  yourgoodsKin, introduced largest markets: u.s.: eric ducournau as group ceo in 2017, rolled out in markets €181.7 million, +50.3% Groupe starting in July.

including ireland, france, italy, aT ConSTanT CUrrenCy 30 27walGreenS spain, thailand, norway and pierre Fabre bootS the middle east. Japan: PariS €160.3 million, -0.3% alliance  no7 inTroduced no7 aT ConSTanT CUrrenCy 2018 beauty SaleS: DeerFielD, il. laboratories line correcting $1.54 billion booster serum, selling one china: €1.30 billion 2018 beauty SaleS: €127.2 million, +12.7% roDan + FielDS every seven seconds in the 29 +1% VS. 2017 $1.7 billion (eST.) San FranCiSCo u.k. and ireland in the month aT ConSTanT CUrrenCy

+17% VS. 2017 (eST.) following the april launch. Main branDS: Grupo  sales growTh accelerated 2018 beauty SaleS: pierre fabre dermO- 31 Main branDS:  The coMPany was for l’Occitane in 2018, despite $1.65 billion (eST.) cOsmétiQue: eau Thermale boticÁrio no 7, botanics, boots negatively impacted by a rising competition in the natural +10% VS. 2017 (eST.) avène, a-Derma, Galénic, CUriTiba, braZil

Carol Hamilton Superstar makeup Reports circulate is named group artist Pat McGrath that Prada president of receives a $60 is ending its acquisitions at Clean & Clear targets million investment beauty license L’Oréal USA, a Generation Z with from Eurazeo for Tatcha hires Jean- with Puig. newly created role. a new line, C&C, her namesake color Marc Plisson as its She previously which offers 11 acne- cosmetics brand. new chief executive served as group fighting, skin-care officer. Plisson was president of the products created with the president of Luxe division in twinfluencers Brooklyn Shiseido’s Beauty the U.S. and Bailey McKnight. Prestige Group.

July 9 12 16 17 20 23 24 30 31

Credo Beauty hires former Gap Astral Brands acquires executive, Dawn nail and makeup Grace Rey joins Dobras, as chief brand Butter London. Procter & Gamble Milani as its new chief executive officer. Industry sources acquires skin-care executive officer. She estimate the brand has brand First Aid Beauty previously served in the an annual turnover of for an estimated same role at hair-care $15 million. $250 million. brand Living Proof.

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Top 100 in 2018_V5.indd 46 4/17/19 6:28 PM 2018 beauty SaleS: 2018 beauty SaleS:  in iTs driVe To reduce entry of new retail brands into $1.48 billion (eST.) $1.28 billion (eST.) packaging, the company latin america. r$5.38 billion (eST.) €1.08 billion (eST.) launched the lush labs app,  belcorP naMed erika herrero +7% VS. 2017 (eST.) -5.3% VS. 2017 (eST.) which allows customers to as its new chief executive officer access product information

Main branDS: Main branDS: and demonstration videos in January 2018. she was o boTiCÁrio: nativa Spa oriflame (makeup, skin, without the need for labels. previously the firm’s commercial

(body and hair care). body, hair and personal corporate vice president and  MaKeuP was a key area of

make b., intense (makeup). care, fragrance). nu SKin luSh replaced company founder 33 34 innovation, with four different Floretta, egeo Dolce, enterpriSeS Poole, U.K. eduardo belmont, who remains naked products launching, malbec (fragrance). Key FinancialS: ProVo, UTah chairman of the board. 2018 beauty SaleS: aimed at reducing plastic The beauty box (hair, tOtal cOmpany sales $1.25 billion (eST.) waste. the vegan lipsticks in bath and body care). (including Wellness 2018 beauty SaleS: £932.5 million (eST.) the line, available in 40 shades, eudora, Quem Disse, and accessOries): $1.27 billion (eST.) -7.6 % VS. 2017 (eST.) are designed to be slotted berenice and Vult. €1.32 billion, -3% +13.4% VS. 2017 (eST.) into an old lipstick pack to Main branDS: ConSTanT-CUrrenCy Key FinancialS: Main branDS: contribute to upcycling. lush Fresh handmade SaleS GroWTh: +3% ageloC, nu Skin, Tru Face, 2018 estimated grOup Cosmetics (bath, body, hair retail sales: epoch, nu Colour, Dr. Dana.

biGGeSt MarKetS: and skin care, makeup). r$13.1 billion, +7%

china Gorilla Perfume (fragrance). euroitalia Key FinancialS: 36 CaVenaGo Di brianZa, (€206.2 million, +8.3%) beauty sales  core brand o boTicário iTaly Key FinancialS: entered the middle east including devices: russia $1.66 billion, like-fOr-like sales decline: thanks to a deal with 2018 beauty SaleS: (€198.6 million, -17.8%) +14.2% (eST.) -4.8% (eST.) investment firm millennial $1.1 billion

capital ltd, thereby ending mexicO cOnstant currency belcorp €930.1 million  nu sKin’s year was the year in 15 markets. (€83.6 million, -5.5%) sales decline: 35 dominated by the global lima, PerU +11.8% VS. 2017 -2.4% (eST.)  March 2018 saw the pOland launch of agelOc lumispa, 2018 beauty SaleS: Main branDS: company purchase vult, (€57.1 million, +10.9% a cleansing system and Main MarKetS: $1.16 billion Versace, moschino, a mass-market color device, globally. (brick-and-mOrtar ebit: +2.2% VS. 2017 missoni, Dsquared2, cosmetics brand, in order retail sales): €149.3 million, -6.1%  Mainland china remained u.s. reporter (fragrance). to grow its presence in that the company’s largest £257.5 million, -18.8%; Main branDS: naj-oleari (makeup). category in brazil. net prOfit: l’bel, Ésika, Cyzone market, accounting for about €96.1 million, +3.8% u.k.  gruPo boTicário raMPed a quarter of sales, followed (fragrance, makeup, skin, Key FinancialS: £130.7 million, -1.2%; up its investment in digital and by the americas and pacific body and hair care). expOrts: 94% of sales  oriFlaMe’s sales took a technology, testing click-and- region, and south korea, Japan hit in 2018 due to challenging Key FinancialS: collect in its the beauty box which returned to growth in  The new licensing conditions in certain key £72.7 million, -1.7% Main MarKetS: multibrand stores, ramping the year. agreement signed with markets and difficult Colombia, Peru, mexico and up digital within the supply  uncerTainTy oVer dsquared2 for the comparisons with 50th  nu sKin used social ecuador (61% of business). production and distribution chain and developing its first brexit and significant declines anniversary activities the media—like kakaotalk in of the label’s fragrances fragrances with the help of in the u.s., lush’s largest breaKDown by branD: previous year. korea and Wechat in china, contributed to euroitalia’s ai in partnership with ibm market, contributed to lush’s esika: 48% oF SaleS to launch new products. the and symrise, set to launch  The coMPany said its drop in sales in 2018. double-digit growth. in the company’s lumispa product cyZOne: 31% skin-care and wellness second half of the year, the this year.  The brand conTinued hutterstock did well in china, executives first two scents for men and s categories, both strategic l'bel: 21%. said on an earnings call with to open larger units in prime priorities, increased their woman, named Wood by Wall street, as did the nu skin locations during the year, and share of sales, and that  The PeruVian direcT seller dsquared2, debuted. also introduced new store 180 system. managed to turn around sales online activities remained  FurTher boosTing sales,

rex / aron/ concepts including the lush last year thanks to financial b at high levels.  nu sKin acquired two the company launched naked shop, which sells only discipline, growth in its number att manufacturers and a  desPiTe The decline in plastic packaging-free products, moschino’s toy 2 scent, while m packaging business during of representatives and the sales in reported terms, and opened its first branches in versace’s dylan blue pour

the year, aiming to secure digitalization of its salesforce. Oriflame said it increased milan and berlin. a store offering femme, launched in 2017,

its supply chain, increase oriFlaMe productivity by 3% and only the brand’s bath bombs  growTh was nevertheless continued to sell well. 32 innovation and be able to bring holDinG aG its number of active opened in tokyo’s harajuku, hampered by aggressive products to market faster.  The u.s., china, germany, SChaFFhaUSen, representatives grew 1%. with 50 new references discounting by competitors, the u.k. and italy were SWiTZerlanD introduced for the occasion. high advertising spend from euroitalia’s best-performing other beauty players and the by Jonas photograph markets.

Shiseido revamps L’Oréal purchases its entire color JD Beauty acquires Yellow Wood Partners Logocos cosmetics hair-care brand acquires Paris Naturkosmetik collection with new Ouidad. According Presents, which and Société des categories focusing to industry sources owns the brands Real Thermes de La on texture. Industry the brand Techniques, EcoTools Roche-Posay for sources expect earns $15 million and Body Benefits by an undisclosed the relaunch will to $20 million Body Image. Industry amount. generate $500 in retail sales. sources estimate Paris million over the Presents does over next three years. $200 million in sales.

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Natural makeup John Varvatos and Cosmoprof acquires brand Kosås receives Nick Jonas expand CVS unveils German-based investment from their collaboration BeautyIRL, a shop- Media Group Health Something Navy’s into the brand’s in-shop format and Beauty to grow Arielle Charnas, fragrance business that includes its beauty trade Man Repeller’s with a new men’s styling services show business in Leandra Medine fragrance called from Glamsquad, central Europe. and Scooter Braun. JV x NJ. direct-to-consumer brands and larger beauty floors.

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2018 beauty SaleS: Main branDS: to investment firm JZ

$826.4 million (eST.) Shanghai Vive (skin care, international in august in order +3.3% VS. 2017 (eST.) fragrance), maxam (skin, to focus on its international body and hair care), liushen business in asia, africa and Main branDS: (skin, body and hair care, latin america. Paul mitchell, awapuhi fragrance), GF (men’s skin Wild Ginger, marulaoil, and hair care, fragrance), neStlé SKin SiSley neuro (hair care). Tea herborist (skin care, GoDreJ 37 38 Tree (hair and body care). makeup, men’s skin care), PariS 41 health conSuMer Paul mitchell The Color Dr. yu (skin care), Fresh laUSanne, SWiTZerlanD 2018 beauty SaleS: (professional hair color). proDuctS ltD. herb (skin care, makeup), mUmbai 2017 beauty SaleS: $923.4 million mitch, mVrCK by mitch Giving (baby care). $1.07 billion (eST.) €782 million (men’s grooming) 2018 beauty SaleS: SFr 1.05 billion (eST.) +8% VS. 2017 Key FinancialS: Marico ltD. Key FinancialS: n/a tOtal cOmpany revenues: $760.3 million (eST.) 42 +7.5% VS. 2017 (eST.) mUmbai Main branDS: Cny 7.14 billion, +10% 51.92 billion rUPeeS (eST.)

 The coMPany continued Main branDS: Sisley (fragrance, skin care, +5.4% VS. 2017 (eST.) 2018 beauty SaleS: to see growth with the neuro net prOfit: makeup). hair rituel by $759.3 million (eST.) Cetaphil (skin care), brand, which partnered with Cny 540 million, +38.6% Sisley (hair care). Main branDS: 51.85 billion rUPeeS (eST) Daylong (sun care). industrial designer karim Godrej expert, Godrej nupur, +16.7% VS. 2017 (eST.) Proactiv (majority stake). rashid to create the neuro  china’s largesT home- Key FinancialS: n/a nyU, bblUnT, motions, halo collection, a modernized grown beauty maker Profectiv mega Growth, Main branDS: Key FinancialS: hair tool line that elevated the achieved healthy growth in sales fOr nestlé’s  currency headwinds had african Pride, Just for me, Parachute, livon, nihar brand’s overall image. 2018, its 120th anniversary “Other” business unit, a negative impact on family- TCb, Darling, illicit, issue, 919, naturals, hair & Care, year, based on a focus on Which includes nestlé owned sisley’s 2018 sales,  The Tea Tree Franchise renew, inecto, Touch of Silver, Caivil, black Chic (hair skin health: but the firm nevertheless remained a top driver for the chinese culture and tapping SFr 12.3 billion, +11% roby (hair care). Cinthol, care and color). Parachute accelerated its growth company. a new offshoot for into high-end, younger and Godrejno1, Soft & Gentle, advansed (hair and body the professional category, more segmented groups and  nesTlé reVealed in compared with 2017. Villeneuve, Tura (skin care). care). Set Wet (deodorants tea tree special color enhancing its crm activity, september last year that Pamela Grant (makeup). and hair styling). Fiancée,  double-digiT revenue gains collection, launched in 2018 digital marketing and sales it was exploring “strategic hairCode, isoPlus (hair were registered in north to capture the consumer on e-commerce platforms. Key FinancialS: options” for its nestlé skin america, asia, the makeup care and styling). Code 10, who is regularly going to the biggest markets: health division, saying future salon for color treatments.  herborisT launched a X-men (men’s grooming). category, which saw the india (53% of sales), africa growth opportunities for the introduction of le phyto high-end makeup line, yue Kamillen and Jamilla  in line wiTh The current and the U.S. (22% of sales activity were increasingly rouge lipstick, and digital. series, while maxam created (hairstyling), Karazel, outside its scope as it seeks momentum in men’s combined), indonesia rivage, Grace (skin care). grooming, the company buzz with its collaboration with to home in on its food,  January 2018 marked (14% of sales). launched mvrck by mitch, heritage brand White rabbit drinks and nutritional health sisley’s successful entry into Key FinancialS: a line designed for the creamy candy on a lip balm • godreJ’s growTh was tOtal cOmpany sales (nine businesses. the strategic hair care with high-end brand professional barber space that sold out in two seconds hampered by macroeconomic mOnths tO december 2018): review is expected to be hair rituel by sisley. that addresses trends such as online. the men’s brand gf challenges in certain emerging 57.25 billion rUPeeS, +18% completed by mid-2019.  in sKin care, growth beard grooming, and includes reviewed its development markets in 2018. •in 2018, marico saw growth  desPiTe The review, the contributors included the both skin and hair products. strategy and distribution. • in india, growth picked on both the domestic and company said it has made launches of sisleÿa serum,  business driVers up through the year on the international markets thanks “significant progress” in hydra-global serum and included skin-care sales in back of re-monetization, to increased investment turning the business around velvet nourishing cream. department stores, which the annualization of the in its core portfolio, over the past two years, were boosted by premium introduction of the country’s aggressive product launches, and that it has seen strong lines, cosmetics franchise goods and service tax in 2017 distribution expansion, interest for the asset. stores and e-commerce, which and the government’s efforts to pricing initiatives and tighter

 nesTlé said the skin accounted for an estimated stimulate the rural economy. cost management. Within health business, which ShanGhai 23% of group revenues at india, rural growth outpaced yearend and grew 13%. •uPPing iTs Focus on includes cetaphil and 40 urban growth. internationally, Jahwa uniteD innovation was a key priority proactiv skin care, bangladesh, the middle east, co., ltD for godrej, which expanded its restylane wrinkle fillers and north and south africa and John paul ShanGhai, China cinthol brand into the men’s prescription dermatology 39 myanmar grew steadily. Mitchell grooming category. treatments, saw mid-single 2018 beauty SaleS: • There was an increased digit organic growth in 2018. SySteMS $809.6 million (eST.) • The coMPany diVesTed focus on the premium hair loS anGeleS its u.k. business, godrej Cny 5.35 billion (eST.) nourishment and male +10% VS. 2017 (eST.) consumer products u.k., grooming categories.

The Estée Lauder Cos. Dove strikes an unlikely partnership. To promote promotes Chris Good Bloomingdale’s its dry shampoo, the Isabel Marant BareMinerals reveals to group president of opens WellChemist, Unilever-owned brand reveals her makeup its “Power of Good” North America. its second beauty partners with Dunkin’ collaboration with campaign, fronted by shop-in-shop for a styling café where L’Oréal Paris, which Hailey Baldwin, Letitia concept, this time consumers can receive includes eye, lip Wright and Rosie focusing on clean free hair styling and face products. Huntington-Whiteley. beauty with brands and complimentary such as Supergoop, Dunkin’ coffee. Briogeo and Saturday Skin.

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West Coast-based Nathalie Kristo, previously Origins re-enters the retailer The Detox global brand president of makeup category Chanel enters the Market opens a NYX, joins Huda Beauty with two natural men’s makeup Urban Outfitters New York flagship as its first U.S. president. products: Blooming category with launches its private in SoHo. Boy de Chanel, label beauty brand, Bold Lipstick and a three-product Ohii, which includes Belk, a Southern department Blooming Sheer range launching in skin-care and store chain, introduces its Lip Balm. South Korea. makeup products. private label beauty brand, Belk Beauty, with a collection spanning the eye, face and lip categories.

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•The coMPany Made strong Operating incOme: Key FinancialS: Key FinancialS: skin care +20% reportedly bolstered by the inroads in both modern ¥ 7. 9 billion, -8% biggest markets: sales come primarily from hair Oil +10% strength of the skin-care italy, France and Spain trade and e-commerce, north america. category thanks to brands sales in Japan: (70% of total sales) undertaking premium internatiOnal sales: including elemis, which did ¥ 37.8 billion, +0.6% •in March, guthy-renker 25% of total group revenues dOmestic sales: launches exclusively online. took a minority investment about $140 million in net sales in indOnesia: 35% of total sales biggest internatiOnal sales for 2018. strivectin • Marico launched its first ¥13.19 billion, -12.2% in mally beauty, with the markets: also significantly improved digital exclusive brands. in (-9.5% liKe-For-liKe) • PriVaTe equiTy Fund intention of developing a GCC, egypt and nepal its numbers, according to the men’s grooming segment, peninsula bought a 33% marketing campaign for the sales in Other markets: estimates, after pulling out studio x, under the brand set stake in kiko for €80 million, brand to expand its television •sTrong doMesTic ¥10.13 billion, -5.7% of department stores and Wet, hit amazon in may 2018; an investment intended to and e-commerce sales. demand and the growth in (+9.1% liKe-For-liKe) refocusing on specialty in september a new hair-care support a new three-year its distribution network in •non-direcT-To-consuMer retail and costco. brand, true roots, launched biggest markets: strategic plan under chief india into modern trade and Japan, indonesia and China. sales are growing for the exclusively with flipkart. executive officer cristina firm. its sales on amazon e-commerce were major sales  bliss was repositioned scocchia, who joined the drivers for dabur in 2018. as a mass-market brand •MandoM aTTribuTed sales and in retail and home brand in 2017. and launched at target declines to an intensified shopping channels doubled •desPiTe currency and ulta beauty. competitive environment in • The Turnaround Plan in 2018. in spring, crepe headwinds and geopolitical erase launched in all ulta indonesia and other areas involves focusing on high- uncertainty in certain  2018 was a busy deal doors and on ulta.com. and decreased sales from its potential markets like key markets, dabur’s exploration year for l domestic women’s business. asia and the middle east international business grew catterton—the company •The coMPany is increasingly as well as e-commerce to strongly in local currencies, explored the sale of cover •sTrong sales oF bifesta directing marketing investment improve profitability. the according to the company. fx, which ultimately did not ManDoM corp. in Japan and overseas, to social channels. in the 43 brand entered chinese happen, and inked a deal in oSaKa, JaPan international revenues for fourth quarter of 2018, •dabur acquired two south e-commerce via tmall global gatsby styling products, paid social represented african companies, d&a January 2019 to sell elemis and signed agreements with 2018 beauty SaleS: except in indonesia, and 35% of total advertising spend, cosmetics proprietary ltd. to l’Occitane for $900 online players nykaa and $717.3 million (eST.) summer limited-editions with meaningful beauty and and atlanta body & health million. strivectin is also myntra for india and amazon ¥79.18 billion (eST.) from gatsby in Japan were crepe erase in particular products proprietary ltd., said to be up for grabs. for the u.s. and u.k. -2.5% VS. 2017 (eST.) the main growth drivers. showing success in the channel. bringing hair-care brand long • sales suFFered FroM the & lasting into its portfolio. Main branDS: •in noVeMber 2018, general slowdown in retail in men’s grOOming: mandom announced it would mature markets, and kiko •dabur naMed mohit malhotra Gatsby (skin, body and hair acquire malaysian firm acg closed 137 stores during the as ceo of its india business, care; hair color, fragrance, international, manufacturer effective april 2019. year, around 13% of its network. deodorant), lúcido (skin, of the silkygirl makeup brand,

body, hair and scalp care; enhancing its presence in

deodorant), mandom (skin, southeast asia. the brand inter parFuMS body and hair care; fragrance), 48 is popular with young Dabur inDia ltD. inc. Tancho (hair care and consumers in malaysia and 46 GhaZiabaD, inDia neW yorK color), Spalding (deodorant, the rest of the region.

fragrance, body care). 2018 beauty SaleS: 2018 beauty SaleS: WOmen’s cOsmetics: $691.2 million (eST.) $675.6 million hutterstock

s l catterton Pixy (skin care, makeup), Guthy-renKer 47. 2 billion rUPeeS (eST.) 47 +14.3% VS. 2017 45 +15.1% VS. 2017 (eST.) GreenWiCh, Conn. bifesta, barrier repair (skin rex / ventureS care). lúcido l (hair care and Main branDS: ce/ el SeGUnDo, CaliF. 2018 beauty SaleS:

a Main branDS: abercrombie & Fitch, agent hair color), baby Veil (hair $686 million (eST.) care), lovillea (fragrance), Dabur amla, orS, long & Provocateur, anna Sui, bebe, 2018 beauty SaleS: +47% VS. 2017 (eST.)

miratone (hair color), mandom lasting (hair care). Fem, boucheron, Coach, Dunhill,

allahan/ $700 million (eST.) KiKo Spa Gulabari, oxylife, new Graff, Guess, hollister, c (hair and skin care), Johnny 44berGamo, iTaly FlaT VS. 2017 (eST.) Main branDS: andrean, Style Up (hair care), era (skin care). Vatika, Jimmy Choo, Karl lagerfeld, StriVectin, nia24, nia, elemis, ristin Simplity (deodorant), Pucelle DermoViva (hair and lanvin, montblanc, oscar k

2018 beauty SaleS: Main branDS: la Therapie, bliss, laboratoire skin care). hobby (skin, de la renta, Paul Smith, (fragrance, body care). $703.8 million (eST.) Crepe erase, meaningful remede, Jou (skin care). hair and bath care; shave repetto, rochas, S.T. Dupont, €596 million (eST.) beauty, Specific beauty, Cover FX (makeup). Key FinancialS preparations). Van Cleef & arpels. -2.5% VS. 2017 (eST.) Perricone mD, Volaire, Dr. (nine months to december 2018): Denese, Dermaflash, iT Key FinancialS: Key FinancialS: n/a Key FinancialS: net sales: Main branDS: Cosmetics (repeat sales grOWth by prOduct ¥61.09 billion, -3.5% Kiko milano cOnstant-currency sales to existing customers). categOry:  l caTTerTon’s strong (-0.5% liKe-For-liKe) grOWth: +12.8% by auder photograph shampOO +30% growth in 2018 was

Lila Moss, the daughter of Kate Moss, makes her Johnson & modeling debut as the face Johnson buys of Marc Jacobs Beauty. Japanese company Laboratoires Ci:z for $2.1 billion. Expanscience, Walgreens Boots Alliance Luxury Brand a French takes a minority stake in Partners and Los pharmaceutical beauty subscription service Angeles-based business, acquires Birchbox. The two team up Nine Zero One New York-based to launch 11 Birchbox shop- Salon team up to Babo Botanicals. in-shops at the drug store launch hair-care chain, starting in December. brand In Common.

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Five years after Sephora introducing its celebrates its Coty Inc. ramps up direct-to-consumer 20th anniversary its men’s grooming men’s shaving with its first offerings with brand, Harry’s beauty festival, two new brand launches Flamingo, Sephoria, in launches: Seb Man which offers the Los Angeles. and System Man. Leonard Lauder same concept receives WWD’s for women. John B. Fairchild Award.

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net incOme: Crealine/Sensibio, hydrabio, Main branDS: according to the company, 2018 beauty SaleS: $53.8 million, +29.3% matricium, Sebium, Secure, Fancl Cosmetics, which is working to turn $625 million (eST.) White objective (skin care), attenir Cosmetics the brand around and has FlaT VS. 2017 (eST.) SaleS by branD: node (hair care), Photoderm (skin care, makeup). launched in 1,000 new outlets mOntblanc: (sun care). institut esthederm: boscia (skin care). including ulta and nordstrom Main branDS: $128.4 million, +1.4% age Prevention, age doors, as well as opening a age iQ, Double-Cleansing Key FinancialS Jimmy chOO: Correction, body Care, Cabine (9 months to dec. 31): store on amazon’s premium botanical Face Wash, age- $117.6 million, +8.4% exclusive, Cellular Water beauty platform. the brand yanbal Defying eye Serum, eye-V range, Cleansing osmoclean, cOsmetics sales: has also launched at sephora 52 moisture boost hydrogel cOach: international intensive molecular Care, Sun ¥54.11 billion, +9.6% in europe and the middle east Patches, illumaboost $99.7 million, +73% lima, PerU Care, White (skin care). etat and at boots in the u.k. brightening & Shield, Firming fancl cOsmetics sales: lanvin: Pur: actifs Pur, Cosmétiques ¥42.71 billion, +12.6% 2018 beauty SaleS: body Contour Cream, Prolistic $69.6 million, +7% biomimétiques (skin, sun and $634 million (eST.) Skin-balancing lotion with body care). attenir cOsmetics sales: Probiotic Technology (skin SaleS Growth +2.6% VS. 2017 (eST.) ¥8.81 billion, +3.8% and body care). by Key reGion: Key FinancialS: nOrth america: +19% bOscia sales: Main branDS: labOratOire biOderma: Key FinancialS: n/a ¥2.05 billion, -11.5% yanbal, Unique (makeup, Western eurOpe: +9% €522.6 million, skin, body, sun and hair +14.5% (eST.) dOmestic Online and  direcT seller neriuM care, fragrance). asia:+24% catalOgue sales: ended its run of double-digit Jala Group co. institut esthederm: ¥20.85 billion, +0.1% 51 growth in 2018. ShanGhai Key FinancialS:  inTerParFuMs sales €45.5 million, +9.3% (eST.) tOtal retail sales, including dOmestic retail stOre sales:  neriuM, which changed for the year were driven by JeWelry: ¥21.57 billion, +22.7% 2018 beauty SaleS: its name to neora in early expansion of its major brands, Key MarKetS: $635.6 billion (eST.) $994 million, 2019, worked to develop the including coach, which did France, China and South dOmestic WhOlesale Cny 4.2 billion (eST.) +2.4% (eST.) 13 markets the company is almost $100 million in sales for Korea accounted for an and Others: +21% VS. 2017 (eST.) currently in for 2018 by hiring 2018 with just five fragrances. estimated 44% of global ¥5.85 billion, 13.2% beauty retail sales: $845 million, key executives. these include sales in 2018. 72.3% of sales Main branDS:  The coMPany acquired the Overseas sales: +2.6% (eST.) bo short as president, brad from international markets. Chando, maysu (skin guess fragrance license from ¥5.84 billion, +0.5% Wayment as president of global

coty inc. and is estimating care, makeup). botanical  direcT seller yanbal • sTrong sales oF star cOsmetics divisiOn markets, and mark nicholls as that in the next several years Wisdom, insea, Spring product créaline/sensibio h2O Operating prOfit: leveraged growth principally chief financial officer. Summer (skin care). that franchise could grow ¥8.89 billion, +19.3% in the fragrance and body- as well as the atoderm and  The coMPany’s eXPansion to $100 million in sales. it care categories in 2018, sebium lines from bioderma and Key FinancialS: n/a into wellness with holistic already contributed to sales partly thanks to launches esthederm’s sun-care products Fancl’s sTrong performance collagen support system, gains in 2018. the firm also including ccori rosé, were the major revenue drivers was driven by its core brand’s desPiTe an oVerall which included face masks and bought the graff license. compact total block spf100 for naos in 2018. basic skin-care lines, which slowdown in the chinese a wellness beverage, did well, sun care and the bio milk and  sales FroM Jimmy choo relaunched in september, economy, privately owned Jala selling about $1.5 million in  The coMPany oPened historic bestseller mild body spa body-care lines. were driven by flanker group continued to register product in 72 hours. subsidiaries in serbia, Jimmy choo fever. cleansing Oil and beauty strong sales gains in 2018  yanbal Made seVeral greece, russia and south bouquet, aimed at older thanks to marketing initiatives hutterstock executive leadership changes in s africa, all markets it consumers. upgraded fancl targeting younger consumers 2018, including the nomination

considers to offer high retail stores in Japan were through social media and rex /

of guadalupe duran as general / potential for its products. another sales driver. entertainment platforms and manager for ecuador, gustavo ap

strong e-commerce growth. marcellini as general manager china conTinues To be a

The coMPany claiMs to for spain and ricardo vasi as hotspot, part of a long-term nvision/ general manager for the u.s. plan to have overseas markets be the best-selling chinese new avon llc account for 25% of sales beauty firm in e-commerce, 53 naoS neW yorK by 2031. On Oct. 30, fancl with chando ranking leader i gostini/ a

49 aiX-en-ProVenCe, FranCe across platforms on single’s launched its cross border tmall 2018 beauty SaleS: van e 2018 beauty SaleS: store, with future plans to roll day in november with sales of $625 million (eST.) $671.7 million (eST.) Fancl corp. out to other chinese platforms cny 533 million. -13.8% VS. 2017 (eST.) 50 €568.8 million (eST.) yoKohama, JaPan including Jd Worldwide, kaola. in May, chando launched two +14% VS. 2017 (eST.) com, red and Wechat mall. Main branDS: new lines, chando for men and 2018 beauty SaleS: avon, anew (skin care), boscia’s sales decline chando colour. the company neora Main branDS: $641.1 million (eST.) 53 True Color (cosmetics), avon was the result of lower sales also introduced a new brand, laboratoire bioderma: abC ¥70.77 billion (eST.) (FKa neriuM) Clearskin (acne care), Skin +10.4% VS. 2017 (eST.) to sephora in north america, spring summer, in september. aDDiSon, TeX. Derm, atoderm, Cicabio, So Soft (body care), espira by Jenner photograph

Prose, a customizable hair-care brand, Frédéric Fekkai buys raises $18 million in back his namesake New York-based Series B funding. hair-care brand. facial chain Heyday closes its Series A Ulta Beauty makes round with Cathexis Condé Nast its first acquisitions $8 million. purchases consolidates U.S. in the digital space, $20 million NPD Group and international investing in Iterate and minority Seventeen Magazine names operations as ceo Spruce and acquiring stake in hair cuts print frequency Lori Monaco Bob Sauerberg is QM Scientific and extension to only include as president of pushed out from GlamST. brand Bellami. “special issues.” U.S. beauty. his position.

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Camillo Pane resigns Unilever as ceo of Coty Inc. Kylie Jenner Marc Rey is names Alan He is replaced by launches her lip Amid a sale appointed to a newly Jope ceo, Pierre Laubies. products at Ulta effort, Millennial established role Beauty and on news site Mic effective at Shiseido: chief the retailer’s web shuts down and Jan. 1, 2019, growth officer. Rey L’Oréal sues Drunk site; eight days lays off most of replacing previously served as Elephant for patent later, sister Kim its staff. Paul Polman. president and ceo of infringement, stating Kardashian West Shiseido Americas. the indie line’s C-Firma follows suit with Day Serum violates her fragrance line. one of its patents.

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(health and wellness), avon Color institute, The Color Main branDS: Main branDS:  The budgeT-Friendly  Pdc brands registered Senses (body care), moisture Workshop, Pop. banana boat, hawaiian Tropic, e45, Clearasil (skin care). beauty firm maintained its solid sales gains for its beauty Therapy (body care), bulldog, Jack black (sun and Veet (depilatories). market leadership in germany activity in 2018, with its brands avon nutraeffects Key FinancialS: skin care), Skintimate, edge, for the third year running, holding leading positions in (skin care), Foot Works (foot combined sales of physicians Schick (shave preparations). Key FinancialS: growing its volume market several categories.

care), advance Techniques formula and Wet ‘n’ Wild in tOtal revenues: share to 36%. £12.6 billion, +10%  according To nielsen (hair care), mark. by avon china were +163% vs. 2017. Key FinancialS: (+3% like-for-like)  inTernaTional eXPansion data for the year, dr teal’s was (makeup, hair care, fragrance), (Fy enDeD Sept. 30): continued, with the opening the number-one adult bath- avon Kids (body care).  seVeral oF The tOtal cOmpany sales: health divisiOn revenues: $2.23 billion, -2.8% £7.76 billion, +3% pro-forma of a subsidiary in brazil and care brand in the u.s., while company’s key brands the signing of a relationship cantu was number two for Key FinancialS: n/a experienced distribution sun care: “Other” revenues Within textured hair. body fantasies growth both domestically $342 million, -3.1% health divisiOn, Which include with tmall for cross-border was number one in mass-  new aVon, which contains and internationally. in the the cOmpany’s beauty brands: e-commerce to introduce shave prep: £2.91 billion, +1% pro-forma core brand essence in china. market women’s fragrance the u.s., canada and puerto u.s., Wet ‘n’ Wild increased $144.7 million, -5.6% and bOd man was the leader rico avon businesses, distribution 10.5% in target  according To indusTry  MassTige brand l.o.V, saw continued declines in skin care: in the men’s mass category. and ulta beauty doors. lip estimates, rb’s beauty introduced in 2016, failed to 2018 under the ownership $ 107.7 million, +23.4% smackers grew its presence brands saw significant sales gain traction in a complex retail  bacKed by cVc capital of cerberus capital with existing retailers by 22%  sKin care was The bright declines in 2018, although the market, although it exceeded partners since 2017, rumors management. and black radiance by 9.8%. circulated during the year spot in edgewell’s portfolio in company claims veet remains expectations in e-commerce.  The coMPany aPPoinTed the company’s points of 2018. bulldog, the men’s brand number one in depilatories going forward, it will focus on that pdc is preparing an ipO two new executives: laurie distribution in latin america acquired in 2016, has doubled its worldwide, while clearasil is an online-only strategy. for 2019.

ann goldman, the former were up 104%. sales since the acquisition and is number three in acne care.  cosnoVa eXPanded iTs chief executive of spanx,  e-coMMerce and direct- now present in 25 markets.  The coMPany restructured executive board, naming dirk joined as ceo, and lori bush, to-consumer were also  iTs sKin-care business into two divisions—rb health, lauber chief digital officer, former president and ceo growth areas: physicians was also boosted by the in which its beauty brands are a newly created position, in of rodan + fields, joined as formula sales were up 29% acquisition of premium men’s september 2018. housed, and rb hygiene home— chairwoman, succeeding on amazon and leapt 548% brand Jack black in march. effective at the beginning of 2018. Jack stahl. on the brand’s direct-to-  The coMPany created a hutterstock edgewell plans to drive growth

s  in January 2019, ceo new brand, the sign tribe,  Key launches included consumer web site. by expanding its presence rakesh kapoor announced which is sold at ulta and Dhc corp avon true color lip glow both in the u.s. and abroad.

rex / 60  in June 2018, markwins on ulta.com in the u.s. and ToKyo / plans to step down, with his gloss, love at 1st lash

acquired lorac, signifying its  in sun care, banana boat successor expected to be online at Zalando. mascara and anew clinical 2018 beauty SaleS: entry into the prestige beauty performed well, partially driven named later this year. unlimited lashes lash & $480.5 million (eST.) market. terms of the deal were by the new banana boat simply brow activating serum. in ¥53.04 billion (eST.) not disclosed. at the time, protect line; hawaiian tropic r asmus/ bfa skin, the business introduced +2% VS. 2017 (eST.) industry sources viewed the posted a sales decline. eil hydra fusion line, and new n acquisition of the “distressed Main branDS: anew masks. brand” as a “turnaround project.”  wiTh increasing competition in the shave-prep category from DhC (skin care, makeup,  in January, stefano curti direct-to-consumer brands such hair care, men’s, body and anales by

c was named global brand as harry’s and dollar shave club, baby care, fragrance). olive president of markwins. pDc branDS edgewell’s shave prep business 59 Sube Sube, medicated Q, STamForD, Conn. coSnova Germanium, Super Collagen, continued to decline. 58 SUlZbaCh, Germany 2018 beauty SaleS: PQQ Up, olive all-Purpose,

hutterstock; $502.4 million (eST.) Sunshine Vitamin, Platinum s 2018 beauty SaleS: Silver, VC, by the Sea, Camu- $513.7 million (eST.) +11.6% VS. 2017 (eST.) MarKwinS Camu White (skin care). Q10 55 €435 million (eST.) beauty branDS Main branDS: revitalizing hair Care (hair +2.4% VS. 2017 (eST.)

rex / aron/ CiTy oF inDUSTry, CaliF. Dr. Teal’s, bodycology, care), Q10 luminist base b Main branDS: me bath! (bath and body), makeup (makeup), F1 Series. att 2018 beauty SaleS: eDGewell m Cantu, eylure (makeup), 56 essence (makeup; skin, $618 million (eST.) perSonal care body Fantasies, Key FinancialS rb nail and foot care; (fy ended july 31, 2018): +6% VS. 2017 (eST.) CheSTerFielD, mo. 57 boD man (fragrance). berKShire, U.K. fragrance). Catrice, l.o.V, beauty sales:

Main branDS: The Sign Tribe (makeup). ¥51.81 billion, +1.8% 2018 beauty SaleS: 2018 beauty SaleS: Key FinancialS:

bonne bell, lip Smacker, Wet $594 million (eST.) $553.9 million (eST.) Key FinancialS: internatiOnal sales: dOmestic sales: ‘n’ Wild, Physicians Formula, +0.1% VS. 2017 (eST.) £415 million (eST.) dOmestic sales: 23% oF reVenUeS. ¥46.15 billion, lorac, black radiance, The -15% VS. 2017 (eST.) 40% oF bUSineSS 89.1% of revenues by Jenner photograph

Kendall Jenner inks Procter & Gamble acquire a beauty campaign Walker & Co., which owns with Runway Series, Bevel, a men’s shaving Clean beauty a hair tool line. brand, and Form, a women’s brand Ilia hair-care brand for coily hair. Beauty receives Joe Mimran, founder investment from of Club Monaco, Glamsquad launches its first Silas Capital. Joe Fresh and line of hair-care products, Industry sources Alfred Sung, invests including eight sku’s created state the brand is LF Beauty in Lunata Hair. from data collected from expected to reach re-brands service users and the brand’s $20 million in as Meiyume. beauty professionals. sales in 2019.

deceMber 3 5 7 10 12 13 16 17 19 31

L’Oréal launches a Premiere Group Deciem re-enters Celebrity Irina Shayk After launching venture capital fund, acquires the Sephora after ousting hair stylist is named as six shop-in-shops called BOLD, which will Derek Lam beauty ceo and founder, Brandon Oribe Canales Marc Jacobs with Walgreens, take minority stakes license with plans Truaxe, earlier in the year. dies at age 62. Beauty’s latest face. Birchbox closes in start-ups with high to expand the its SoHo flagship. growth potential. brand’s 10 Crosby Bloomingdale’s reveals Glansaol, the owner fragrance business revamped cosmetics floor of Laura Geller, Henry Davis leaves internationally. at its New York flagship, Julep and Clark’s his position Industry sources which includes 75 new Botanicals, files as chief financial estimate the brand brands and spans roughly for bankruptcy. officer at Glossier. does $2 million in sales. 36,000 square feet.

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by the nuM berS internatiOnal sales: ¥5.66 billion, 10.9% of the MoSt anD leaSt revenues

ShareholDer eQuity in 2018 main markets: Japan, the rest here, The 10 coMPanies of asia and the U.S. with the most and least shareholder equity (a company’s

assets, minus its liabilities) at the close of the year. hoyu co. ltD.  dhc conTinued to expand have & be co. 62 64naGoya, JaPan its international footprint in SeoUl 2018 as demand for Japanese company and 10 companIes wIth the 10 companIes 2018 beauty SaleS: 2018 revenue most sharehoLder wIth the Least products grew, expanding 2018 beauty SaleS: equIty at year-end 2018 sharehoLder equIty $441.8 million (eST.) beyond its core catalog $445.4 million (eST.) Johnson & Johnson at year-end 2018 ¥48.77 billion (eST.) business to brick-and-mortar KrW 490 billion (eST.) $59.75 billion $81.58 billion -0.6% VS. 2017 (eST.) retail and e-commerce. +28.2% VS. 2017 (eST.)

bayer  according To industry Main branDS: Main branDS: $54.30 billion $46.75 billion sources, dhc saw triple-digit Dr. Jart+ (skin care). bigen, Cielo, beautylabo, €45.98 billion €39.59 billion sales gains in the u.k. in 2018 DTrT (men’s grooming). beauteen, naturain, and double-digit increases in Promaster, men’s bigen, rexy, ProcTer & gaMble france. the brand reportedly Key FinancialS: Samy (hair color and care). $52.88 billion*** $66.8 billion performs well on amazon internatiOnal sales in the u.s. and last year grOWth: 62.6% Key FinancialS launched in forever 21’s riley (fiscal year ended lVMh MoëT hennessy louis VuiTTon  haVe & be co. continued oct. 31, 2018): rose doors. it entered ulta $40.10 billion $55.30 billion to expand the international net sales: €33.96 billion €46.83 billion beauty in march 2019. ¥49.4 billion, -0.6% presence of core brand dr.  MaJor ProducT launches Jart+ in 2018, notably in recurring prOfit: l’oreal included dhc Olive virgin Oil europe and global travel $31.81 billion $31.81 billion ¥3.7 billion, -33.9% crystal skin essence, dhc retail, a growing channel. €26.93 billion €31.80 billion Queen of serum, dhc the  hoyu, JaPan’s hair color  The coMPany worKed line shot and mild foaming market leader, was negatively walgreens booTs alliance on enhancing its digital face Wash. impacted by a weak domestic $26.69 billion* $131.54 billion* marketing initiatives targeting market in 2018, and saw its chinese consumers. overall sales decline slightly, rb  The V7 ProducT line got according to estimates. $19.74 billion $16.81 billion a revamp, while cicapair £14.79 billion £12.60 billion  in JaPan, the company and ceramidin products launched the hoyu continued to perform well coMPagnie Financière richeMonT professional app for in international markets. $17.29 billion $12.96 billion hairdressers to offer them

€14.64 billion** €10.98 billion** ritualS instant access to trend and 61 product information. coSMeticS unileVer $14.52 billion $60.20 billion enterpriSe b.v.  Key launches for the year €12.29 billion €50.98 billion amSTerDam included beauteen color keeper, intended to preserve coTy inc. 2018 beauty SaleS: bright hair color for longer. $8.85 billion*** $9.40 billion*** $506.6 million (eST.) €429 million (eST.) 63nippon MenarD * FY Ended Aug. 31, 2018 **FY ended Mar. 31, 2018 ***FY ended June 30, 2018 +10% VS. 2017 (eST.) coSMetic

Main branDS: co. ltD. l brands rituals (fragrance, home naGoya, JaPan ($1.31 billion)* $13.24 billion~ fragrance, skin, body and 2018 beauty SaleS: hair care, makeup). $444.8 million (eST.) aVon ProducTs inc. alcora corp. ($904.5 million) $5.57 billion ¥49.1 billion (eST.) 65 Key FinancialS: miami -1% VS. 2017 (eST.) n/a 2018 beauty SaleS: TuPPerware brands corP. Main branDS: ($235.2 million) $2.07 billion  riTuals conTinued To $434.6 million (eST.) grow its sales in 2018, albeit authent (skin care, + 37.6% VS. 2017 (eST.) at a slower pace, according fragrance, body care). henKel to estimates. embellir, Tsukika, Fairlucent Main branDS: $68.5 million $23.50 billion (skin care, makeup). monat, hairgurt (hair care), €58 million €19.90 billion  The FirM once again illuneige, lisciare, Colax, l’eudine (hair and body care, expanded its store footprint herb mask (skin care). fragrance), Pardon oriFlaMe in markets including france, beauness (skin and body my Pretty (body care). $159.3 million $1.56 billion ireland and the u.s., where care). Jupier, TK (makeup). €134.9 million €1.32 billion its first stores on the West Crowa (hair care). Divum Key FinancialS: n/a coast opened during the (skin care, makeup, in  alcora’s growTh colgaTe-PalMoliVe year. travel retail was China). reliever (skin care, was driven in part by its $197 million $15.54 billion another area of focus, with in China). expansion into europe, which several new stores opening. took place in spring 2018. e.l.F. beauTy in total, an estimated 100 Key FinancialS: $229.3 million $ 2 67.4 million new rituals boutiques tOtal sales (fiscal year  MonaT reMains the opened worldwide in 2018. ended march 31, 2018): company’s largest brand. eMaMi ¥51.38 billion the hair business posted  Key launches included $288.6 million $413.4 million continued growth in 2018, a full new facial skin-care  niPPon Menard introduced 19.71 billion rUPeeS 28.23 billion rUPeeS** with sales driven primarily offer, the ritual of namasté. a new makeup brand, tk, for by its direct-sales network the line is suitable for touch of kindness, starting Marico of consultants. $374.9 million $939.9 million vegans and developed with a range of one-handed 25.6 billion rUPeeS 64.18 billion rUPeeS** with responsibly sourced lipsticks and expanding into  The brand builT its natural and naturally foundation and makeup base hydration product line with noeVir holdings derived ingredients, with products in early 2019. the launch of advanced $469.6 million $523.9 million certain products offering hydrating serum, a leave-in  beauness was revamped, ¥51.84 billion*** ¥57.83 billion*** refillable packaging. treatment for hair. adding sheet masks and spa shower lotion, a spray format ~FY Ended Feb. 2, 2019 *As of Nov. 3, 2018 **FY Ended March 31, 2018 *** FY Ended Sept. 30, 2018 for on-the-go use, to its lineup.

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cOsmetics Operating incOme: 2018 beauty SaleS: ¥12.16 billion, +10.5% $375 million (eST.) +10% VS. 2017 (eST.) dOmestic business:

more Than 90% oF SaleS Main branDS: biggest anastasia beverly

internatiOnal markets: hills (makeup).

Taiwan and China. pZ cuSSonS 66 Key FinancialS: n/a manCheSTer, U.K.  a conTinued moderate recovery in Japan’s economy  in June, anastasia beverly 2018 beauty SaleS: was the main sales driver for hills took on a minority by the nuM berS $420.2 million (eST.) noevir in 2018. Within the investment from tpg capital. £314.8 million (eST.) face-to-face selling channel, terms of the deal were not a Glimpse into the operating +2.7% VS. 2017 (eST.) sales were solid thanks to new disclosed, but industry sources said the cosmetics brand, which income of beauty Firms in 2018 Main branDS: serums noevir enrich 55 and reportedly had 2017 sales of St. Tropez (skin and body noevir aquature and prestige To Measure which companies dominated the beauty business in 2018, we dug up the operating $340 million and ebitda of care), Charles Worthington, skin-care products. income they brought in from the sector. Here, how the brands stacked up. $200 million, was being valued Fudge, Fudge Professional,  wiThin The selF-serVice at as much as $3 billion. Fudge Urban, Stella (hair channel, new and existing skin care). original Source, imperial  The brand eXPanded company beauty saLes beauty operatIng profIt as % of saLes care and makeup grew well, profIt (Loss) leather (bath and body care). notably due to initiatives to internationally via sephora The Sanctuary Spa, luksja expand domestic distribution for in spain and italy, with plans noeVir holDinGS $ 386.1 million $110.2 million (bath, body and skin care), core brand nameraka honpo. to also expand to sephora ¥42.62 billion¹ ¥12.16 billion¹ 28.53% Venus (hair and skin care, in russia. toiletries). Joy (skin care).  naMeraKa honPo also UnileVer $24.35 billion $4.88 billion  anasTasia beVerly hills 20.03% expanded its international €20.62 billion⁴ €4.13 billion⁴⁴

Key FinancialS: distribution, focusing on continued its leadership lG hoUSeholD $3.55 billion $710.8 million tOtal cOmpany revenues china, hong kong, taiwan and position on social media, 20.02% & healTh Care KrW 782 billion (six mOnths ended nOv. 30): the rest of asia. generating buzz with the July KrW 3.91 Trillion 335.1 million PoUnDS, launch of its norvina palette. in ProCTer & Gamble $2.32 billion²  noeVir sPeciale $12.41 billion² 18.69% -10.4% (2017 results were november, anastasia topped restated due to a change in introduced its first makeup tribe dynamics earned media l’orÉal $31.81 billion $5.81 billion 18.3% items, a range of lip, eye €26.94 billion €4.92 billion accounting policy). value color cosmetics report and cheek colors. for October 2018. the brand Pola orbiS holDinGS $2.09 billion $346.9 million internatiOnal sales: 16.56% reportedly had $88.6 million ¥231.21 billion ¥38.29 billion 57% of business. in earned media value, a 15%

KoSÉ CorP. $2.75 billion $438.5 million largest markets: year-over-year decrease. 15.96% ¥303.40 billion³ ¥48.41 billion³ The U.K., nigeria, Poland.  The brand’s soFT glaM beierSDorF $6.96 billion $1.07 billion eyeshadow palette was the top- 15.33%  PZ cussons Focused €5.89 billion⁴ €903 million⁴⁴ selling prestige makeup launch on fewer, bigger, higher in the u.s., according to npd. The eSTÉe laUDer CoS. $13.68 billion² $2.05 billion² 14.99% margin product launches in JaFra 2018 and said it succeeded 68 henKel $4.66 billion $695.5 million 14.91% in maintaining or growing coSMeticS int’l €3.95 billion⁴ €589 million⁴⁴ market share for its brands WeSTlaKe VillaGe, CaliF. inTerParFUmS inC. $675.57 million $94.73 million 14.02% in most major markets 2018 beauty SaleS: despite tough macro- naTUra CoSmÉTiCoS $3.69 billion $508.6 million $386.4 million (eST.) 13.81% economic conditions. r$13.40 billion r$1.85 billion €327.2 million (eST.)  Fudge’s sales increased -10% VS. 2017 (eST.) FanCl $598.3 million $76.6 million 12.79% 14%, especially driven by key 70coMbe ¥66.05 billion³ ¥8.45 billion³ markets like the u.k., emea Main branDS: WhiTe PlainS, n.y. Kao CorP $5.63 billion $76.6 million 12.32% and australia, with the clean Jafra (skin, body and hair ¥621 billion ¥8.45 billion 2018 beauty SaleS: blonde violet range growing care, makeup, fragrance). $371 million (eST.) oriFlame $1.56 billion $176.3 million particularly well. 11.3% Key FinancialS: n/a +6% VS. 2017 (eST.) €1.32 billion €149.3 million  sT. TroPeZ PerForMed well lVmh $7. 1 9 billion $798.3 million in the u.s., growing 13%.  in early 2018, the company Main branDS: 11.10% €6.09 billion €676 million said it anticipated a sizable Just for men, Control GX decrease in revenues for (hair care and color). aqua manDom CorP. $737. 3 million $76.6 million 10.39% 2018, mainly due to currency Velva, Williams lectric Shave, ¥81.39 billion³ ¥8.46 billion³ fluctuations. mexico, the u.s. brylcreem (men’s grooming, ShiSeiDo $9.92 billion $981.5 million 9.90% and indonesia remain Jafra’s in north america). Vagisil ¥1.09 Trillion ¥108.35 billion largest markets. (intimate skin care). e.l.F. beaUTy $ 2 67.4 million $26.2 million 9.80%  JaFra worKed on rolling Key FinancialS: n/a out a uniform it landscape to amorePaCiFiC GroUP $5.7 billion $502.2 million noevir 8.7% 67 its international markets to  coMbe’s Vagisil intimate KrW 6.27 Trillion KrW 552.5 billion

holDinGS enable new digital interfaces health brand launched a new ToKyo CoTy inC. $9.40 billion² $161.2 million² 1.71% between the company, its franchise, scentsitive scents for consultants and consumers, women with sensitive skin. line reVlon $2.57 billion $85.2 million n/a 2018 beauty SaleS: dubbed the “ace” project. extensions include the first-to- $387.9 million (eST.) market intimate dry wash spray source and methodology: ¥42.82 billion (eST.)  JaMes chrisTl, Jafra’s and bath bombs designed with Figures presented were gathered using publicly available corporate financial statements and based on +7% VS. 2017 (eST.) chief financial officer, took ph balance in mind. reported numbers. 1FY Ended September 30, 2018. 2FY Ended June 30, 2018. 3FY ended March 31, 2018 on the role of acting ceo in 4 5 6 Main branDS: Personal care division, including oral care. Consumer division, including bandages. Beauty care division, december 2018.  coMbe’s JusT For Men including oral care. noevir Co.: Speciale, 505, brand launched a new 99Plus (skin care, makeup), master brand campaign actrice (makeup). Tokiwa called “be the better man,” Pharmaceutical Co.: oriented around the trend in nameraka honpo (skin millennial men caring more care), excel (makeup), about personal grooming. nov (skin care, makeup). Just for men control gx introduced new line Key FinancialS: anaStaSia (fiscal year ended sept. 30): 69 extensions and won the best cOsmetics sales: beverly hillS beard category at the 2018 ¥42.62 billion, +8.7% beVerly hillS gQ grooming awards.

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 The coMPany entered the  Kylie cosMeTics continued  nuXe enTered The chinese internatiOnal sales: emergency contraception to roll out pop-ups, including domestic market in 2018 with ¥5.31 billion, +17.1% category under vagisil with one in san francisco, as well the opening of a subsidiary. it tOp internatiOnal markets: preventeza, a challenger as collaborations, such as a is sold exclusively in sephora sOuth kOrea product to plan b, with buzzy palette co-created with there, and at yearend, ranked (SaleS KrW 20.63 billion, a marketing campaign momager kris Jenner. among the retailer’s top +1.3% in loCal CUrrenCy) designed to eliminate exclusive brands in china. feelings of shame around china  TraVel reTail was another emergency contraception. weleDa (SaleS Cny 82 million, able c&c 72 growth driver, with 19 duty- arleSheim, 78 +30.3% in loCal CUrrenCy) SeoUl SWiTZerlanD free shops opening last year in

partnership with dufry.  doMesTic sales were 2018 beauty SaleS: 2018 beauty SaleS: boosted by the relaunched $314.1 million (eST.)  core brand nuXe continued $363.7 million aujua hair-care brand, whose KrW 345.52 billion (eST.) to be boosted by star product €308 million revenues increased 29.5% to -7.4% VS. 2017 (eST.) burt’S beeS huile prodigieuse, which +5.5% VS. 2017 74 ¥6.73 billion. DUrham, n.C. was the number-one dry Main branDS:

Main branDS: oil in pharmacies in france,  signaTure hair-care missha, a’Pieu, Swiss Pure, 2018 beauty SaleS: herMÈS Weleda (skin and body care, belgium, the czech republic, brand milbon continued to 71 $350 million (eST.) mefactory (skin, bath and men’s care, hair care, mother greece, italy, poland, slovakia grow strongly, with sales international +5% VS. 2017 (eST.) body care; makeup). PariS and baby care, lip balms, and spain. new facial care up 44.2% year-on-year to

launches, aquabella and crème ¥2.14 billion. the brand is personal care, sun care). Main branDS: Key FinancialS: 2018 beauty SaleS: prodigieuse boost, helped now present in 12 countries, Operating lOss: burt’s bees (skin, lip, hair, $368.1 million Key FinancialS: recruit millennial consumers. and launched in turkey and KrW 18.96 billion, makeup, men’s and baby care). €311.7 million biggest markets: germany last year. versus operating profit of Germany, France and +8.4% VS. 2017 11.23 billion in 2017 Switzerland. Key FinancialS:  hair color brand Ordeve dOmestic retail sales: addicthy, launched in 2017, net lOss: Main branDS: fastest-grOWing markets: $355m, + 6% (eST.) KrW 11.7 billion (versus hermÈs parfums: Central and eastern europe, was another sales driver, with net income of 8.79 billion)  Key MoVes For clorox Terre d’hermès, Western europe and north revenues up 50.7 percent to america. eau des merveilles, co.-owned burt’s bees in ¥3.03 billion.  growing coMPeTiTion 2018 included the expanded from multibrand stores on the Collection les Jardins,  weleda conducTed its distribution of its lip-care domestic market resulted in Twilly d’hermès, first global social media beautycounter les Colognes hermès, products and continued 76 another year of sales declines campaign in may and June SanTa moniCa, CaliF. innovation in skin care for able c&c, which continues eau d’orange verte, 2018, featuring australian and makeup. 2018 beauty SaleS: to focus on international Jour d’hermès, Collection blogger lauren doolan. hermessence, Voyage  The coMPany invested $320 million (eST.) markets in order to grow its

d’hermès, 24 Faubourg,  The FirM was one of two heavily in its true force of +33% VS. 2017 (eST.) business looking ahead.

beauty companies worldwide, Galop d’hermès, Kelly nature campaign for its  a’Pieu launched its alongside brazil’s natura, Main branDS: cauDalie Calèche, Calèche, rouge signature beeswax lip balm, 78 first stores in thailand and to receive the new uebt beautycounter PariS hermès, hiris, amazone, which became the number- opened a new in flagship

bel ami, equipage, rocabar, sourcing With respect one product in the overall lip Key FinancialS: n/a 2018 beauty SaleS: in seoul’s gangnam eau d’hermès (fragrance). certification from the union category in the u.s. for the $314.1 million (eST.) neighborhood in 2018. le bain (toiletries), for ethical biotrade. first time for the 13 weeks  beauTycounTer €266 million (eST.)  in deceMber, able c&c le Parfum de la maison  weleda ciTed new ended June 17, according to dramatically increased its +10% VS. 2017 (eST.) acquired mefactory, whose (home fragrances). launches, including the clorox co.’s annual report, marketing presence in 2018, portfolio includes the edelweiss sun care range which cited iri data. driving more buzz for its line of Main branDS: Key FinancialS: popular 3 steps collagen and its new beauty balms, as ingredient-conscious products. resveratrol[lift], cOnstant-currency sales  The brand ramped up pig nose pack. its biggest sales drivers for it was the most-searched Vinoperfect, Premier Cru, grOWth fOr fragrance: its sustainability initiatives, +8.9% the year. working with supplier beauty brand on google. Vinosource, eau de beauté, Premières Vendanges,  alois Mayer Joined Weleda communities on fair trade  The brand oPened its first tOtal cOmpany sales: Teint Divin, Polyphenol C15, €5.97 billion, +7.5% as chief operations officer. initiatives and partnering with stand-alone retail location on terracycle on a post-consumer Vinopure, Vin[activ] (skin new york’s prince street in care). Divine body (body  iT was anoTher strong recycling drive, for example. soho, which has become a care). eaux Fraîches, Parfum year for hermès fragrances, burgeoning location for beauty Divin (fragrance). boosted by the success of brands because of foot traffic.

twilly d’hermès, geared to ManZanita  beauTycounTer Key FinancialS: 80 younger consumers, as well as expanded its product lineup internatiOnal sales: capital the ongoing strength of terre +15% to include an acne-specific lonDon d’hermès for men. line and the Overnight french sales: Kylie Flat 2018 beauty SaleS:  The Terre d’herMès 73 resurfacing peel, which has $311 million (eST.) franchise was boosted by coSMeticS become a bestseller. nuXe Groupe biGGeSt MarKetS: +24% VS. 2017 (eST.) the introduction of a new oXnarD, CaliF. 75 PariS France, the U.S., italy, version, terre d’hermès eau 2018 beauty SaleS: China and Germany. Main branDS: intense vetiver. 2018 beauty SaleS: $360 million (eST.) byredo, Diptyque $324.7 million (eST.)  desPiTe FlaT sales in a  herMès oPened several new +9% VS. 2017 (eST.) (fragrance). Kevyn aucoin, €275 million (eST.) sluggish market, caudalie stores and revamped select lipstick Queen (makeup). remained france’s leading boutiques during the year, Main branDS: +3.8% VS. 2017 (eST.) eve lom (skin care). malin + antiaging and anti-dark spot including in mexico, china, the Kylie Cosmetics (makeup). Goetz (skin, body and hair Main branDS: skin-care brand in pharmacies u.s., australia, monaco and care, fragrance). nuxe, bio-beauté by nuxe, last year, according to ims data. paris’ avenue georges v. it also Key FinancialS: n/a Milbon co. ltD. resultime (skin and body 77 ToKyo entered china’s all-important  growTh was driVen by Key FinancialS: n/a  Kylie cosMeTics’ growTh care, fragrance). e-commerce market. international markets, with all  The conTinuing strength continued in 2018 thanks, in 2018 beauty SaleS: Key FinancialS: regions contributing to gains.  in June, the company’s part, to an exclusive partnership $318.9 million (eST.) in demand for niche beauty france: ¥35.2 billion (eST.) products was the biggest stock entered france’s cac- with ulta beauty. kylie Jenner’s approx. 50% of sales (eST.)  caudalie inauguraTed a 40 index of the 40 largest brand entered all of ulta’s 1,000 +11% VS. 2017 (eST.) new eco-designed research sales driver for manzanita french companies with the doors in november. nuxe: laboratory for natural cosmetics capital’s portfolio in 2018.

most actively traded shares. +4% (eST.) Main branDS: formulations near Orléans.  The ulTa launch coincided milbon, aujua, Villa lodola,  The FirM oPened new resultime: with the introduction of kylie  The inTroducTion oF the boutiques for several of its +24% (eST.) elujuda, Plarmia, Jemile Fran, cosmetics’ app. the app ordeve, neo liscio (hair care, vinopure line for adult acne brands: diptyque opened resembles the matching eurOpean subsidiaries’ color, styling and treatment). was a major success for the stores across asia, malin + sales grOWth: e-commerce site and allows brand, it claimed. goetz in san francisco, los +16% (eST.) angeles and hong kong, while customers to shop all of kylie Key FinancialS: cosmetics’ makeup offerings. travel-retail sales grOWth: dOmestic sales: byredo opened new flagships +22% (eST.) ¥29.87 billion, +9.9% in london and paris.

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 byredo and oFF-whiTe’s Key FinancialS: Jf lazartigue. it has begun virgil abloh collaborated on a net prOfit: the implementation of a new product concept, elevator Cny 251.7 million, repositioning and new music, which increased the +49.9% (eST.) visual identity. brand’s exposure.  in iTs FirsT year as a  sVr was The fastest-  brad horowiTZ was publicly traded company— growing dermocosmetics by the nuM berS named chief executive proya listed on the shanghai brand in france in 2018, officer at malin + goetz, stock exchange in november according to the company. winnerS anD loSerS and will oversee business 2017—the growth of online a newcoMer To The lisT, Proya Cosmetics, made a big splash in its debut expansion and focus on digital revenues was the main with the largest jump in its share price year-over-year. As for the rest of the list, operations. business driver for the 15-year- several household names made repeat appearances in the losers ranking for the old chinese cosmetics firm. second year in a row.  core brand Proya accounts for around 90% of revenues, and is available in 10 ToP PerForminG beaUTy SToCKS in 2018 around 13,000 points of sale. tupperware ComPany yr-end 2017* % ChanGe  in sePTeMber, the firm 83 stock symboL branDS corp. yr-end 2018* named Juncheng hou as its orlanDo, Fla. Proya CoSmeTiCS Co. 28.72 yUan MeiyuMe new chairman. +53.45% 81 Ltd.sha: 603605 44.07 yUan honG KonG 2018 beauty SaleS:  Proya inVesTed heavily in 2018 beauty SaleS: tv marketing, launching the $291.7 million (eST.) inTer ParFUmS inC. $43.45 nasdaq:Ipar $65.57 ⁴ +50.91% $308.2 million (eST.) deep Ocean energy line with -12.1% VS. 2017 (eST.)

+2.4% VS. 2017 (eST.) shenzen tv in early 2018 Main branDS: naTUra CoSmÉTiCoS 33.06 real and placing the products bvmf:natu3 +36.12% avroy Shlain, Fuller Cosmetics, 45 real Main branDS: in numerous hit tv dramas naturCare, nutrimetics, Collection Cosmetics starring brand ambassador ShiSeiDo Co. lTD. ¥5,446 (makeup). Finesse, aqua net, tang yan. actor yifeng li nuvo Cosmetics (makeup, skin tyo: 4911 ¥6,892 +26.55% harmony, Vosene, bristows was appointed as a brand care, fragrance). (hair care). yardley of london ambassador to target the DabUr inDia 349.70 rUPeeS Key FinancialS: nse:dabur 430.65 rUPeeS +23.15% (in Germany, austria and chinese gen Z audience. tOtal sales: the americas), CD (bath and $2.07 billion, -8.2% GoDreJ ConSUmer 666.30 rUPeeS body). lypsyl (lip care). Witch, ProDUCTS 810.65 rUPeeS +21.66% handsan (skin care). Triple Dry  2018 was tupperware’s third nse:godrejcp consecutive year of double- (deodorant). Wrights, Cidal, milbon Co. lTD. ¥3,790 +17.94% Simple (soap, in the U.K., digit sales losses on its beauty tyo: 4919 ¥4,470 ireland and Channel islands). and personal-care business. its 322.50 rUPeeS brisk (beard oil). The beauty beauticontrol activity in north mariCo lTD. nse:marIco 373.40 rUPeeS +15.78% mask Co. (facial sheet masks). america was sold to youngevity KreSK Group international in december 2017, reVlon inC. $21.80 Key FinancialS: n/a 83 contributing to declines. nyse:rev $25.19 +15.55% PariS

 desPiTe ulTiMaTely losing  in aPril 2018, li & fung 2018 beauty SaleS: hermèS inTernaTional 442.49 eUroS sales, the company launched +9.56% divested its beauty vertical $291.7 million (eST.) epa:rms 484.80 eUroS several key initiatives in to a consortium including €247 million (eST.) beauty in 2018, including private equity firm hony +39% VS. 2017 (eST.) celebrity fragrance launches capital and fung group, li & fung’s holding company, Main branDS: under fuller cosmetics in 10 WorST PerForminG beaUTy SToCKS in 2018 with the aim of accelerating laboratoires Filorga brazil and a relaunched line of antiaging skin care in the growth of the business, Cosmétiques, laboratoire % ChanGe yr-end 2017* ComPany australia, with new packaging. especially in china. SVr (skin care), le Couvent yr-end 2018* stock symboL

des minimes (skin and  PaTricia a. sTiTZel was  Following The €11.30 alèS GroUPe divestment, the beauty body care, fragrance), JF named president and ceo -69.56% €3.44 epa:aLphy vertical—formerly known lazartigue (hair care). in may 2018, replacing rick as lf beauty, and including goings, who became executive $19.89 CoTy inC -67.02% packaging, turnkey and retail Key FinancialS: chairman. stitzel, previously $6.56 nyse:coty france: president and chief operating solutions activities as well +25% in 2018, $22.31 e.l.F. beaUTy officer, is tupperware’s first as its beauty brands—was 37% oF beaUTy reVenUeS -61.18% $8.66 nyse:eLf

re-branded as meiyume; female ceo. nick poucher was internatiOnal: named senior vice president a combination of “mei,” +48% in 2017, 63% oF $60.22 l branDS chinese for beauty, and beaUTy reVenUeS of business transformation in -57.37% $25.67 nyse:Lb

“yume,” Japanese for dream. november as the company tOtal sales (including continues to implement $62.70 TUPPerWare branDS fillmed cOsmetic fillers): -49.65% $31.57 nyse:tup turnaround efforts. €294 million, +38% ¥8,360 noeVir holDinGS  core brand laboratoires -42.88% ¥4,775 jp:4928 filorga cosmétiques grew strongly both in france €104 bayer aG -41.76% and abroad. in france, €60.56 etr:bayn growth in pharmacies and 338.30 SWeDiSh Krona oriFlame holDinG aG proya parapharmacies as well as -41.44% 198.10 Krona ss:orI 82 the brand’s introduction at coSMeticS co. sephora contributed to gains, eMaMi ltD. $59.39 eDGeWell PerSonal ltD 85 -37.11% $37.35 Care Co. nyse: epc while internationally, china, KolKaTa, inDia hanGZhoU, China europe and travel retail were 2018 beauty SaleS: 665.10 rUPeeS emami lTD. its major drivers. -36.84% 2018 beauty SaleS: $281.5 million (eST.) 420.10 rUPeeS nse:emamILtd $302.7 million (eST.)  le couVenT des minimes, 19.22 billion rUPeeS (eST.) Cny 2 billion (eST.) acquired from l’Occitane in +6.8% VS. 2017 (eST.) +28.6% VS. 2017 (eST.) 20 17, was relaunched in July 2018 with a new visual identity Main branDS: *Data used was closing price on the last day of the year the stock was traded. Main branDS: and deployed at marionnaud boroplus, navratna, Proya (skin care, makeup, and douglas stores in europe. Vasocare, emami Golden men’s skin care), Uzero, anya beauty Talc, malai Kesar  in January 2018, the group (skin care, makeup), yoya, Cold Cream (skin care). Fair acquired hair-care brand Cats & roses (makeup). and handsome (men’s skin

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Top 100 in 2018_V5.indd 55 4/17/19 6:29 PM by the nuM berS care), emami 7 oils in one, 2018 beauty SaleS: sales of $13.5 million in 2018. Kesh King (hair care). $ 27 7.6 million (eST.)  in 2018, e.l.F. expanded he (deodorant). €235.1 million (eST.) SiZe eFFect into all ulta beauty stores +35.1% VS. 2017 (eST.) Personal care giants Johnson & Johnson, Procter & Gamble and Unilever held onto and grew internationally Key FinancialS: their positions at the top of the "large cap" rankings. Several companies that had a via partnerships with u.k. market cap exceeding $10 billion a year ago have since dropped down to the "mid-cap" 85% of sales from the Main branDS: domestic market bionike (skin, body, hair and health and beauty retailer range. Here, the player's market cap—stock price multipled by outstanding shares. sun care, makeup). lycia superdrug and european Key international (skin care, deodorants). beauty e-tailer feelunique. MarKetS: e.l.f. also began initial beauty stocks with market beauty stocks with market beauty company stocks leocrema, Dermolab (skin caps exceeding $10 billion caps of $2 billion to $10 with market caps under South asian association and sun care). Vitesse (skin distribution in germany via at yearend 2018 billion at yearend 2018 $2 billion at yearend 2018 for regional Cooperation care). Tesori d’oriente, Denim a partnership with douglas. (40% of international (body care, fragrance). company market cap 2018 stock cLosIng prIce sales) middle east and noxzema, Depilzero, Strep JohnSon & JohnSon $351.53 billion $129.05 north africa (29%). (shaving/depilatories). biopoint (hair, skin and sun ProCTer & Gamble $228.7 billion $91.92  eMaMi’s growTh in 2018 care). brelil, Wash & Go (hair was driven by a sharpened UnileVer $166.12 billion $63.53 care). Deborah, Debby, focus on modern trade rouge baiser (makeup). lVmh moëT henneSSy $154.22 billion $304.90 channels and new product

and packaging innovations, loUiS VUiTTon €130.6 billion €258.20 eUroS Key FinancialS: n/a Faberlic although this was hampered 89 moSCoW l’orÉal $133.78 billion $237.59 somewhat by seasonality  The coMPany acquired 2018 beauty SaleS: WalGreenS booTS allianCe $64.86 billion $68.33 and the ongoing impact of italian historic color the goods and service tax cosmetics player deborah $263.8 million hermèS inTernaTional $60.44 billion $572.48 introduced in June 2017. group at the end of 2018 16.5 billion rUbleS to strengthen its makeup -13.3% VS. 2017 rb (reCKiTT benCKiSer) $56.66 billion $80.26  in June 2018, emami portfolio, mass-market bought a 7.5% stake in ColGaTe-PalmoliVe $51.58 billion $59.52 presence and international Main branDS: u.s.-based loli beauty inc. appeal. deborah registered Platinum, oxiology, Prolixir, eSTÉe laUDer CoS. inC. $ 47.7 7 billion $130.10 for $565,000. sales of €75 million in 2017, Garderica, renovage, beauty

henKel $46.41 billion $101.26 meaning that the combined lab, Verbena, Faberlic expert (skin and body care, hair ComPaGnie FinanCière $36.98 billion $64.40 company’s scope marks its entry into the 2018 top 100. care). beauty Café (body riChemonT 36.17 billion FranC 63 FranC care, fragrance). Faberlic by  in addiTion To The Valentin yudashkin, renata Kao CorP. $36.1 billion $73.87 acquisition, sodalis’ growth (fragrance). Secret Story, Sky beierSDorF $27.12 billion $ 107.6 5 was fueled by the relaunch of line, beauty box (makeup). the lycia brand, which was $62.43 Salon Care (hair care). ShiSeiDo $25.00 billion eMbelleZe acquired from artsana in 2016, 86 CloroX Co. $19.73 billion $154.14 Group and from the international Key FinancialS: rio De Janeiro expansion of the group, dOmestic sales: lG hoUSeholD & healTh Care $15.63 billion $1,000.81 specifically in china. 50% oF bUSineSS. 2018 beauty SaleS: DabUr inDia $11.16 billion $6.31 key internatiOnal markets: $278.2 million (eST.)  due To These activities, KaZaKhSTan anD r$ 1.01 billion (eST.) sodalis strengthened its UZbeKiSTan. KoSÉ CorP. $9.47 billion $156.36 +11.5% VS. 2017 (eST.) top management, naming massimiliano Oldani and GoDreJ ConSUmer ProDUCTS $8.08 billion $11.87  aFTer Four years of Main branDS: biagio viganò as group chief double-digit growth, russia’s l branDS $7. 16 billion $25.67 novex, Vitay, revitay, financial officer and group largest homegrown direct magic liss, amacihair, human resources director, mariCo $7.0 6 billion $5.47 seller saw a double-digit hairlife, lisahair, Sou respectively. decline in sales caused by a Pola orbiS holDinGS $6.16 billion $26.90 Dessas (hair care and challenging economic situation treatment).natucor, maxton lion CorP. $6.15 billion $20.56 in russia, where consumers (hair color), nutrisalon are becoming more cautious amorePaCiFiC GroUP $5.45 billion $66.08 (professional hair care). and price sensitive. advertising

naTUra CoSmÉTiCoS $5.35 billion $12.39 Key FinancialS: activities were also reduced internatiOnal sales: considerably. CoTy inC. $4.93 billion $6.56

14% oF reVenUeS, +12%  Fragrance reMained the nU SKin enTerPriSeS $3.38 billion $61.33  The braZilian hair-care e.l.F. beauty strongest performing category, FanCl CorP. $3.31 billion $25.43 88 oaKlanD, CaliF. manufacturer sought to boosted by the launch of new

emami lTD. $2.79 billion $6.15 better manage costs and celebrity scent renata and 2018 beauty SaleS: invest in innovation in 2018 valentin yudashkin. ShanGhai JahWa $2.77 billion $4.13 $ 2 67.4 million (eST.) in a climate of political and -0.9 % VS. 2017 (eST.)  The nuMber oF active l’oCCiTane inTernaTional Sa $2.67 billion $1.82 economic uncertainty that consultants declined from hampered sales growth in inTer ParFUmS inC. $2.05 billion $65.57 Main branDS: 1.6 million to 1.45 million. its home country. e.l.f. (makeup skin care, eDGeWell PerSonal Care $2.02 billion $37.35  eMbelleZe enTered three brushes, tools and devices.) new international markets Key FinancialS: TUPPerWare branDS $1.54 billion $31.57 in 2018: egypt, south korea Operating incOme: and Japan. noeVir holDinGS $1.48 billion $43.26 $26.2 million, -21%

 The grouP iniTiaTed milbon Co. lTD. $1.34 billion $40.49 net incOme: a new multilevel marketing $15.5 million, -53.6% reVlon $1.33 billion $25.19 business model. Dr. wolFF Group u.s.: 90 manDom CorP. $1.32 billion $27.27 90% oF SaleS. bieleFelD, Germany

oriFlame holDinG aG $1.29 billion $22.80  desPiTe a Focus on 2018 beauty SaleS: $254.2 million (eST.) PZ CUSSonS $1.22 billion $2.84 international expansion, e.l.f.’s sales declined, leading €215.3 million (eST.) aVon ProDUCTS inC. $672.5 million $1.52 the brand to announce that +4% VS. 2017 (eST.) e.l.F. beaUTy $422.8 million $8.66 it will close its 22 self-owned Main branDS: doors—all of which were in Proya CoSmeTiCS $414.7 million $6.67 Dr. KUrT WolFF: alpecin, SoDaliS Group the u.s.—in 2019 at a cost of 87loDi VeCChio, iTaly Plantur 39, Plantur 21 (hair able C&C $ 2 67.8 million $9.91 between $23 million and $25 care). alcina (hair and skin million. the stores registered alèS GroUPe $58.9 millon $4.06 care; makeup), Plantur 49

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(skin care). Dr. aUGUST Main branDS: Main branDS: Key FinancialS: Main branDS: finalized in October. the brand WolFF: linola (skin care). Coppertone, bain de Soleil marubi, haruki (skin care). internatiOnal sales: Parlux ltd: Jason Wu, saw significant declines ahead (sun care), Complex 15 Passional lover (makeup). 35% oF reVenUeS Kenneth Cole, norell new of the sale as international Key FinancialS: (hand and body care). (STable year-on-year). york, Paris hilton, Pierre distributors froze orders. preliminary grOup sales: Key FinancialS: Cardin, rihanna, Sofia  desPiTe a downTurn  sales declines resulTed €309 million +3.9% (eST.) Key FinancialS: marubi: Vergara, Tommy bahama, cOnsumer health sales: on the german fragrance from competitive pressure in 89.3% oF ToTal SaleS Vince Camuto.  alPecin inTroduced two €5.45 billion, -7% market overall, the heritage dermocosmetics in the french

facial care: key products in 2018: tuning, firm bucked the trend, Key FinancialS: n/a market, difficult conditions  in noVeMber, bayer 49.3% oF ToTal SaleS a line for men with gray hair registering growth for in iran and russia due to announced its intent to divest international sanctions and that has pigment particles eye care: almost all of its brands in the  The coMPany’s sales parts of its business following the decision to focus on online that adhere to the hair, hit the 32.4% oF ToTal SaleS domestic market. dropped in 2018 in part market in september, as did the company’s merger with because of department distribution only for lierac in  Mäurer & wirTZ signed caffeine hybrid shampoo, for monsanto and as part of its e-cOmmerce sales: store closures, a reduction the u.s. an agreement with hair loss and itchy scalps. larger bayer 2022 strategic Cny 6 57.6 million, +31.1% in perfumania’s own store distributor nobilis group  sKin-care brand Jowaé, plan. businesses that are count and a corporate  The coMPany continued to  sales growTh accelerated to strengthen 4711 acqua launched in late 2017, registered planned for divestiture initiative to refocus u.s. bolster its presence in china for marubi in 2018 as chinese colonia and baldessarini sales of €8 million. include coppertone, which sales on the company’s top on online platforms, and consumers upgraded to in germany and austria, comprises the bulk of the 14 markets, which represent sold a record 30,000 alpecin higher-end products. effective July 1, 2018. company’s beauty sales, and 70% of sales. products on singles day. has been in a consistent sales  The coMPany’s sales  The coMPany developed a  The ToMMy bahaMa and decline as the category grows growth was tempered by fragrance brand for german paris hilton franchises did increasingly competitive. growing competition in fitness influencer sophia thiel. well. tommy bahama’s china—where it does all of  coPPerTone sales were  s. oliVer and beTTy barclay maritime grew 19% and its business—as increasing down sharply at the end of entered poland. paris hilton’s line saw numbers of brands, MicyS coMpany the third quarter, mostly in double-digit gains. 100 especially from abroad, CaSaTenoVo, iTaly brazil due to a change in entered the market.  The coMPany’s focus distribution channels. on amazon luxury drove a 2018 beauty SaleS: lion corp. 91 150% increase in sales in that $209.6 million ToKyo channel, while at perfumania, €177.5 million

the focus was on parlux house -1.9% VS. 2017 2018 beauty SaleS: $250.6 million (eST.) brand launches. Main branDS: ¥27.66 billion (eST.) alFaparF Group Pupa (makeup, skin care, +3.5% VS. 2017 (eST.) 97 oSio SoTTo (berGamo), toiletries, beauty kits).

iTaly Main branDS: cartier colliStar 95 Key FinancialS: n/a Kirei Kirei (hand soap), 93 milan PariS 2018 beauty SaleS: ban (deodorant), Pro Te c $226.1 million 2018 beauty SaleS  cusToMers’ growing (men’s hair and body care), 2018 beauty SaleS: €191.5 million inclination toward online and $236.2 million hadakara, Shokubutsu $248 million (eST.) -2.4% VS. 2017 promotions eroded sales €200 million monogatari (personal care), €210 million (eST.) alÈS Groupe from micys’ brick-and-mortar FlaT VS. 2017 99 Soft in 1 (hair care). +1.9% VS. 2017 (eST.) Main branDS: PariS business, which is key for pupa. alfaparf milano, yellow, alta Main branDS: Key FinancialS: Main branDS: moda é…, il Salone milano (hair 2018 beauty SaleS:  The coMPany conTinued Collistar (makeup; skin, hair, beauty sales in Japan: Cartier Carat, l’envol de care). Te n Science, Dibi milano, $215.7 million (eST.) to roll out its e-commerce body and sun care; men's ¥21.02 billion, +3.5%* Cartier, la Panthère de becos, olos (skin and body €182.7 million (eST.) platform to france, the Cartier, Pasha de Cartier, skin care and fragrance; -11.2% VS. 2017 (eST.) czech republic, slovakia, tOtal cOmpany net sales: care). Solarium (sun care). baiser Volé, Déclaration, eau aromatherapy). hungary and romania, ¥349.40 billion, +2%* Decoderm (skin care, makeup). de Cartier, must de Cartier, Main branDS: and launched a new crm Key FinancialS: n/a Santos de Cartier, les heures Key FinancialS: Phyto, Secret Professionnel, platform to enhance *2017 sales were recast after de Parfum, les heures main marKeTS: Kydra, Ducastel (hair care). the adoption of ifrs standards  For The second year, engagement on social media. Voyageuses (fragrance). italy: lierac, Jowaé (skin care). collistar’s beauty sales were  Micys consolidaTed its  in JaPan, iTs core market €64.3 million, +5% flat, mainly hampered by Key FinancialS: presence in the domestic representing the majority of Key FinancialS: n/a delays in product registration braZil: tOtal sales (including market, which accounts for its beauty sales, according to  sales driVers for cartier in china, iran, saudi arabia €31.7 million, -7% beauty supply activity): over half of its sales and estimates, lion corp. grew its €208.3 million, -10.1% parfums, owned by compagnie and latin america. mexicO: counts over 4,000 doors. revenues in the hand soap and financière richemont, included €15.3 million, +8% (-8.9% at constant currency)  iTs largesT export zones body wash categories. its own boutiques, e-commerce  The coMPany expanded were russia and benelux. france: its international footprint,  doMesTic sales in the and travel retail.  currency FlucTuaTions in €78.3 million, -15.7% opening in south korea and deodorant and antiperspirant  in 2018, collisTar launched latin-american markets were  To suPPorT The launch of cuba and relaunching in category were down, as lion in france via a partnership with the key element hampering expOrt: cartier carat, geared toward mexico and taiwan. russia exited the spray category marionnaud. alfaparf’s sales in 2018. €130 million, -6.4% (-4.4% a younger consumer, cartier continued to be the largest sales of ban refresh shower at constant currency) parfums opened its first pop-  The coMPany expanded export market, although sheets were steady. up store in new york city, in other regions, including skin care: sales there decreased €96.9 million, -8.7%  in inTernaTional MarKeTs, designed to showcase all of eastern europe, the middle slightly. france, where sales the brand’s fragrances in a east, asia and australia. shokubutsu monogatari body hair care: were stable, was second. soap performed strongly in sensory experience.  iT worKed on rationalizing its €106.2 million, -10.1% thailand; kirei kirei hand soap offer, focusing on and improving fragrance: did well in south korea. its best-selling products. €5.2 million, -30.1%

96MÄurer & wirtZ (activity sold in october 2018) STolberG, Germany  alès grouPe engaged in 2018 beauty SaleS: restructuring, with initiatives $231.5 million (eST.) to include greater focus on €196 million (eST.) GuanGDonG core brands phyto and lierac. 94 +1.6% VS. 2017 (eST.) the reorganization includes Marubi the rationalization of its sales bayer conSuMer Main branDS: 92 biotech co. perFuMania force and manufacturing baldessarini, 4711 original 98 health GUanGDonG, China holDinGS teams in france. eau de Cologne, 4711 leVerKUSen, Germany neW yorK acqua Colonia, 4711 remix  The coMPany sold 2018 beauty SaleS: 2018 beauty SaleS: $239.1 million (eST.) Cologne, Tabac, S. oliver, 2018 beauty SaleS: parfums caron to cattleya $248.9 million (eST.) Cny 1.58 billion (eST.) betty barclay, otto Kern, $217.7 million (eST.) finance, the private holding €210.8 million (eST.) +16.5% VS. 2017 (eST.) Tosca, Sir irisch moos, -24.9% VS. 2017 (eST.) firm of the rothschild family, -15.2% VS. 2017 (eST.) nonchalance, Sophia Thiel. for €29.9 million in a deal

wwd beauty Inc 57

Top 100 in 2018_V5.indd 57 4/17/19 6:29 PM Founder’s corner

Institute of Sacred Music in Rome, which led to his serving as the titular organist at cathedrals in Fano, Rimini and San Benedetto del Tronto, Italy. Sorcinelli still performs regularly, including organ improv, and has cut his first album, “Francophilie.” The multihyphenate also earned a degree in the arts, and has exhibited his paintings, sculptures and installations domestically and abroad. In 2001, he launched Atelier LAVS, which creates sacred vestments and accessories for the Catholic liturgy, and works closely with the Office for the Liturgical Celebrations of the Supreme Pontiff. Pope Benedict XVI and Pope Francis have donned Sorcinelli’s garments. “Each and every piece from Atelier LAVS is unique, and this uniqueness makes its message powerful,” he says. “Every vestment is made after careful research and is destined to celebrate something that is well above us all—the mystery. It’s not by chance that they are called ‘sacred robes.’ That’s why for me every day is full of surprises.” Sorcinelli founded his fragrance brand, Unum, in 2013 to help olfactively channel his own journey, inspired by his design work. “The atelier’s cultural and sensorial experience opened the door to my own olfactory project with which I describe my life today together with art, photography, fashion and bijoux,” he says. “Everything describes my material and emotional research, even through unusual supports. But every realization has as its fundamental purpose the communication, the wonder of beauty.” The line comprises 15 scents, including Laud, which fragrances what’s wrapped around the sacred vestments during delivery; Opus_1144, inspired by the first stone laid at the Royal Basilica of Saint-Denis and packaged in a flacon made of bio-cement, and Io Non Ho Mani che Mi Accarezzino Il Volto, nodding to the 20th-century photographer Mario Giacomelli. Unum is sold in 45 boutiques in Europe; prices start at 155 euros. “I feel a strong sense of freedom, because thanks to the olfactory project, I abandoned all the superstructures that weighed down my life,” Sorcinelli says. “I started opening up to the world, talking about myself and describing who I really am.” He explains that the scents are divided into three lines, which “clearly describe my personality made of passion and drama, art and impulse, emotion and coherence.” Renaissance Man Alongside music, “symbolic geometry” links Filippo Sorcinelli is a true multihyphenate, whether he is playing the all of his crafts. “My artistic studies have delved deep in medieval arts, where nothing happened organ, creating vestments for the Pope or launching the latest addition by chance and each aspect was the result of a to his fragrance brand, Unum. By Jenny Weil project aiming to deliver a message with its own singularity and to communicate macroscopically With a bushy beard and geometric tattoos designer (for the Pope and his entourage), the an elevated, intangible thought, just like perfume webbing his body, Filippo Sorcinelli would appear Italian’s résumé is one for the ages. or music,” Sorcinelli says. “Making art with the Francia at home in any hipster haunt. But look just a bit Sorcinelli’s love of music sets the tone for sense of smell, improvising at the keyboard or r ita deeper, and it’s clear the 43-year-old is truly a everything in his career, which seamlessly melds while creating handmade fabrics is like giving life Renaissance Man. Photograph-taker, perfume- together various senses and times. He studied at the to great architecture that can be visited only if you

maker, organ-player, jewelry-creator and vestment- Conservatorio Rossini in Pesaro, Italy, and Pontifical are capable of being yourself.” ■ P h by Photogra

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