Editors' Top Reads: News from THG, Liberty, Fenwick and more...
Here are some of this week’s news and features highlights handpicked by TheIndustry.beauty team.
Liberty opens first-ever LBTY fragrance pop-up
Liberty has opened its first-ever pop-up for its LBTY fragrance collection at London's Battersea Power Station, allowing visitors to explore its luxury fragrance line, which draws inspiration from the department store's iconic textile prints.
The pop-up marks a "significant step" in LBTY's distribution strategy, with all eight fragrances from the collection, including bestsellers and new releases, available to shop.
Guests can also attend a series of exclusive events throughout the pop-up's duration, focusing on craftsmanship, personalisation, and interactive experiences designed to "engage customers and celebrate the artistry behind each scent". It comes after LBTY recently launched three new scents, one year after its debut collection. Want to know more? Check out our interview with Laura Simpson, Managing Director of LBTY, on expansion one year on from launch.
Sophie Smith, News Editor & Senior Writer.
THG made demerger of Ingenuity official
Cult Beauty and Myprotein operator, THG, confirmed that its technology platform Ingenuity is to be demerged into a standalone independent private entity in an effort to restore its share price.
It launched an equity raise with a target of circa £75 million to facilitate the demerger through a "Placing, Subscription and additional proceeds from a Retail Offer". It later revealed that its equity raise was oversubscribed, exceeding its target by over £20 million by fundraising £95.4 million. The cash will be used to take the loss-making technology arm Ingenuity private.
Existing shareholders contributed approximately £50 million to the fundraiser, led by its CEO Matthew Moulding, who invested £10 million. Interestingly, Frasers Group, which is renowned for snapping up failing fashion retailers, has also become an investor in the online beauty retailer during the fundraising.
Once the demerger of THG is complete, the business will consist of the beauty and nutrition business that is behind the brands Myprotein and Cult Beauty.
Chloé Burney, Senior News & Features Writer.
E-commerce sees first growth since April 2021 with beauty sales booming
Online retail grew by 3.2% year-on-year in September 2024, the first growth in e-commerce since April 2021. Between then and September 2024, there have only been two months where growth has been flat or minuscule: up 0.2% in November 2022 and 0.5% in August 2023.
The resurgence in September was largely driven by the first two weeks of the month, which saw year-on-year revenue increase 11.6% and 10.8%, respectively. This growth can be attributed to several online product categories achieving big revenue spikes, and I was pleased to hear makeup, fragrance and haircare were among the standout categories.
What does this mean for e-commerce going forward? Well, optimism could now be growing among brands and retailers ahead of Black Friday and peak Christmas trading. So, it will be interesting to see how the online channel performs over the next few months!
Sophie Smith, News Editor & Senior Writer.
Fenwick opens largest Beauty Hall in North East
The North East is fast becoming the UK's beauty hot spot. After Sephora opened in both Newcastle and Gateshead, Fenwick has now opened a new 26,000 sq ft beauty hall, the largest in the region.
Some 163 brands are present in the newly revamped space, which houses an additional 23 counters. City exclusives include Hourglass, Charlotte Tilbury and Le Labo, while among the regional exclusives are Chantecaille, Guerlain's premium L'Art Matier Fragrances, the Orchidee Imperiale skincare range and Carolina Herrera makeup.
There are a host of experiences and treatment rooms too. This is a testament to the huge appetite for beauty outside of the capital and it's great to see Newcastle consumers get the offer they deserve.
Lauretta Roberts, Co-founder, CEO and Editor-in-Chief.
