News

1. Estee Lauder Companies made its first investment in a Chinese perfume brand, taking a minority stake in Melt Season through its early-stage venture capital arm NewIncubation Ventures. Melt Season was launched by Nishi in 2021 and is owned by Verse china, a Shanghai-based company.

2. Chloe Atelier des Fleurs debuted at Los Angeles International Airport in collaboration with DFS, marking the collection's official entry into the North American travel retail market. Coty said the launch is part of a plan to expand its ultra-premium portfolio and marks "an important milestone in the company's drive for market share growth in this channel," strengthening the footprint of its premium fragrance line.

3. New World Duty Free entered into a strategic partnership with Cathay Pacific Airways to launch the Member Miles cooperation program. Under the agreement, Cathay Pacific passengers will be able to use their mileage points to shop at New World Duty Free.

4. From January 2024, NOBILIS GROUP will become the new exclusive distribution partner for ROBERTO CAVALLI perfumes in Germany, Austria and Switzerland.

5. European beauty retailer Douglas reported sales of €4.1bn in the 2020/23 financial year, up 12.1% from the previous year. The group's physical store sales increased by 13%, while e-commerce sales increased by 10.3%. Douglas reported a net profit for the first time since YO broke out, with net profit rising to 16.7 million euros from negative 313.8 million euros in the previous year, the company said in a statement.

6. The Shiseido Group recently announced organizational changes within the group to reduce costs by more than 40 billion yen globally between 2024 and 2025, driving cost reductions in a wide range of areas such as IT, logistics, procurement, office and expenses, with the goal of improving ROI on marketing investments through the use of data. Thereby steadily increasing profitability.