A round-up of the latest news and information you need to know to start your week surrounding all things beauty and grooming.

Legislative/ Regulatory

  • Following the International Cooperation on Cosmetics Regulation’s eighth meeting in Ottawa, representatives from trade groups PCPC and CCTFA spoke with “The Rose Sheet” about ICCR’s progress to date and its growing influence on regulation within core member jurisdictions, as well as with other stakeholders around the world. (The Rose Sheet)
  • Senate Finance Committee Chairman Wyden questions the suggestion that drug manufacturers’ corporate tax inversions lead to lower health-care costs in the U.S. Inversion transactions have been on the rise since Helen of Troy’s landmark reorganization in the early 1990s in Bermuda, with President Obama recently casting firms that move their businesses overseas for tax benefits as “corporate deserters.” (The Rose Sheet)
  • Divergent regulatory approaches in the U.S. and EU and the jurisdictions’ dramatically lopsided lists of banned cosmetic substances have complicated negotiations on potential regulatory alignments in the cosmetics sector under the Transatlantic Trade and Investment Partnership. Talks continue to explore “if a substance has been approved in the European Union following a risk assessment, it can be taken into account by the U.S. regulators,” EU Chief Negotiator Ignacio Garcia Bercero said. (The Rose Sheet)

Business Portfolio

  • Unilever prepared to cut Europe jobs . With developed markets now a stagnant landscape for consumer goods sales, multinational Unilever has said it is prepared to cut more jobs in Europe if conditions fail to improve. Speaking in an interview recently published by Germany’s WirtschaftsWoche magazine, chief executive Paul Polman blamed the falling income levels among consumers for the reducing demand for brand-name items. (Cosmetics Design)
  • Urban Decay, the L’Oreal-owned make-up brand, is opening its first stand-alone store at Fashion Island in Newport Beach this fall.  The 1,000 square-foot flagship store will feature a custom foyer, the first of its kind at Fashion Island, as well as six makeup stations with exclusive Urban Decay makeup and boutique lifestyle products. The ultimate beauty hangout will also have a huge digital video wall and a gorgeous 100-inch custom nickel chandelier with reclaimed wide-beam flooring and a locally sourced “found” table that makes the space warm and inviting.  (Irvine Company)

Market GPS

  • Brand Growth Management, a New York-based firm that works with brands to position them for growth, financing and sale, recently took a deep dive into examining the Korean market. Here, the top seven highlights from their info graphic titled Just The Facts: Korean Beauty Market, curated by Sarah Chung, BGM’s go-to-expert and strategic partner in the Asian markets.  (Cosmetic Executive Women)
  • The sign that a developing consumer market is maturing comes when consumers start progressing towards premium products, something that the organizer of in-cosmetics Brazil believes is now happening in the country’s cosmetics industry. According to the latest market research from Euromonitor, the country now ranks as 15th in terms of global consumption of products that are deemed to be premium, a figure driven by a small number of high income consumers and a burgeoning middle class. (Cosmetics Design)
  • New product innovations and smaller sizes are boosting color cosmetics sales in the UK with big gains expected in the mass market whilst the prestige segment has benefited from consumers trading up. New research from Mintel reveals that mass market color cosmetic sales are set to hit £1 billion in 2014, with prestige sales additionally predicted to reach £552 million. (Cosmetics Design)

Beauty 2.0

  • New York-headquartered data company focused on the beauty industry, Poshly, has closed on a $1.5 million seed round of funding, which will largely be used to grow its engineering team in San Francisco. The funding was led by Frontier Equities VC, and included Astia Angels, CPEG Ventures, WI Harper Group, and other private investors. To date, Poshly has raised over $2 million to date. (Tech Crunch)
  • Now that CPU and camera technologies have progressed to where consumers can do facial and image recognition right from their mobile devices, this is opening up some new and interesting opportunities for marketers. (Luxury Daily)
  • Beauty lovers, rejoice: A new app, Stash, wants to make your life easier. It predicts exactly when you’re running low on your favorite products, prompting you to restock before your dwindling supply becomes an issue. Running to Sephora when you had to be somewhere five minutes ago but just used the last pump of your primer? With Stash, that hassle’s a thing of the past. (Elle Magazine, US)

Legal Perspectives

  • Russian authorities put Oriflame through a tax probe. Oriflame has confirmed that Russian authorities have seized papers from its Russian headquarters in Moscow as part of an ongoing tax probe in the country. According to the Russian authorities, the tax investigators are trying to establish whether or not taxes amounting to as much as 3 billion rubles were paid during the period 2006 to 2010. (Cosmetics Design)
  • To maintain incentives for the kind of innovation that keeps Europe at the heart of the global fragrance industry, scents should be protected by intellectual property law, argues Kimiya Shams. (The Business of Fashion)
  • How companies handle manufacturing troubles may be more important to the agency than that they happen, top FDA officials indicate, warning that a damaged relationship can affect all of a firm’s interactions with FDA. (The Rose Sheet)

 

1938 is the online magazine blog for Well-Kept Beauty, formally entitled Primer.

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