In Review, October 2024: Headline highlights from Unilever, Boots, The Inkey List and more...

Sophie Smith

31 October 2024

October was another busy month for the beauty industry, from new store openings and senior leadership appointments to acquisitions, trends, and more.

Here's a round-up featuring this month's big beauty headlines from brands and retailers including Boots, Cult Beauty, The Inkey List, and more, as well as the top features content from TheIndustry.beauty.

The Inkey List

The Inkey List Co-founder returns as CEO

The Inkey List Co-founder Mark Curry retuned as Chief Executive Officer after stepping back from leading the company last year. It follows the appointment of Stephanie Davis Michelman as CEO in April 2023, replacing founders Curry and Colette Laxton as they focussed on "driving global growth and expanding the brand mission".

The British Beauty Council launches fund to 'support extraordinary and diverse beauty founders'

The British Beauty Council launched a new fund in collaboration with London and New York-based venture capital firm Venrex to support diverse beauty founders with a bold vision. The new joint fund seeks the next problem-solving cosmetic product, the supply chain time-saver, or planet-friendly packaging solution of the future.

The Body Shop relocates head office in 'significant cultural reset'

The Body Shop announced the relocation its head office to Brighton, in a move that marks the beginning of a "significant cultural reset" for the brand under new ownership. The new head office is located by the University of Brighton at the Plus X Innovation hub, which is described as an "eco-system of innovative businesses with a combined mission to drive positive change in the world".

Cult Beauty unveils rebrand to 'reflect its evolution'

After 16 years of bringing the best of beauty under one roof, Cult Beauty rebranded with a "fresh, optimistic vision" that better reflects its diverse community. In celebration, the online retailer launched a new campaign - taking over London tube, rail and bus stops.

Estée Lauder confirms Stéphane de La Faverie as new CEO

The Estée Lauder Companies confirmed the appointment of Stéphane de La Faverie as its new CEO, effective 1 January 2025. The new appointment comes after Fabrizio Freda announced his intention to retire as President and CEO at the end of FY25, after more than 16 years at the business.

Grown Alchemist brings ‘skincare driven by biotechnology’ to first UK flagship

Australian skincare brand Grown Alchemist is coming to London this November with its first flagship store outside of Melbourne. The new store will span two floors, bringing skincare to life with immersive skincare experiences.

Unilever

Unilever appoints new CEO for prestige beauty division

Unilever appointed Mary Carmen Gasco-Buisson as the new CEO of its prestige beauty division, following the exit of Vasiliki Petrou earlier this year. It marked a return for Gasco-Buisson to Unilever, having previously served as the Worldwide Brand Leader for Axe/Lynx, returning the personal care business to double digit, profitable growth.

John Lewis launches beauty-led store makeovers as part of £800m investment

John Lewis has launched major store makeovers as part of an £800 million investment plan which will include expanding its beauty halls. The boss of the department store giant said some of its stores needed "more love" after a challenging few years for the retail giant, which has included store closures and thousands of job losses.

Boots predicts top brands this Christmas as it hints to 'biggest-ever Black Friday'

Expecting beauty gifting to be "huge" this year, Boots identified a number of makeup, skincare and fragrance brands set to dominate this festive season. It comes as online searches at the British retailer for makeup, haircare and skincare gift sets have all increased year-on-year, up 433%, 130% and more than 102%, respectively.

REOME secures over £1m funding to drive global growth

Biotech-powered skincare brand REOME secured over £1.1million in its first-ever seed fundraise, led by Tom Singh’s family office Rianta Capital. The funding will accelerate growth, both locally and internationally

British Beauty Council

British Beauty Council names Rita Ora as Global Ambassador

The British Beauty Council named singer-songwriter and beauty industry entrepreneur Rita Ora as its new Global Ambassador. Under the new partnership, Ora will spotlight the organisation's work in future proofing the beauty sector for all, while elevating the industry as whole.

Nails.INC acquired by Pacific World Corporation to accelerate US expansion

British nail brand, Nails.INC was acquired by Pacific World Corporation - a New York-based private equity firm renowned for scaling consumer brands. This strategic partnership aims to accelerate Nails.INC’s growth and solidify its presence in the North American market.

Revolution Beauty forecasts return to sales growth despite half-year tumble

Revolution Beauty revealed tumbling first half sales amid an overhaul but said it is set to return to growth in its fourth quarter as the turnaround starts to pay off. The group said net sales plunged by a fifth to £72 million in the six months to 31 August as it simplified its product offering and ramped up clearance promotions to shift old stock.

Sephora to open in Liverpool as it continues UK expansion

Sephora is continuing its retail expansion across the UK with plans to open at Liverpool ONE in spring 2025. Taking a 6,727 sq ft cornerstone unit on South John Street, the new store will boast an extensive selection of products across makeup, skincare, haircare, fragrance and wellness.

Boots sales improve as parent firm shuts 1,200 US stores

Boots posted stronger sales as its parent firm revealed mass store closures across the US. The health and beauty retailer revealed on that total sales grew by 2.3% over the fourth quarter as it was affected by its shrinking store estate.

THG hires new CEO of Beauty Brands

THG, the owner of Cult Beauty and Lookfantastic, appointed Amy Fisher as CEO of Beauty Brands. Fisher most recently served as Chief Executive at women’s reproductive care brand Lola until December 2023.

No7

No7 unveils new luxury cosmetics collection

No7 launched a 12-piece makeup collection, featuring high-quality, premium formulas at an affordable price. With all products retailing at under £20, the new range is designed to provide an "affordable selection of products that doesn’t compromise on luxury and quality".

Rhode says 'Hi London', announcing London pop-up

Hailey Bieber's Rhode started a frenzy after confirming that it was coming to the UK with its first-ever pop-up in London, from 17-20 October. Rhode was founded by American model Hailey Bieber in June 2022, offering customers a chance to achieve her 'glazed' skin.

P&G reaffirms full-year guidance despite Q1 sales drop

Procter & Gamble (P&G) maintained its guidance for FY25, despite a 1% decrease in first quarter sales to £16.6 billion ($21.7 billion). Organic sales, which exclude the impacts of foreign exchange, acquisitions and divestitures, increased 2% during the quarter.

Fenwick opens largest Beauty Hall in North East

Fenwick unveiled its transformed Beauty Hall in Newcastle. At an impressive 26,000 sq ft, it marks the UK's largest Beauty Hall outside of London. Housing 163 beauty brands, the new space stocks makeup, skincare, niche and prestige fragrance, haircare, and nail and brow products.

Caroline Hirons BABTAC

Caroline Hirons announces first UK tour

Skincare expert Caroline Hirons is going on tour, bringing her podcast, Glad We Had This Chat, live to theatres around the UK and Ireland in February 2025. As with the podcast, the upcoming tour promises to feature Hiron's trademark mix of frank, honest and funny conversation.

Dr.PAWPAW expands lip care line-up with new stick format for its iconic Original Balm and Tropical Balms

Dr.PAWPAW gave customers more choice with the launch of a new stick format for its Original Balm. The new option is all about offering flexibility and convenience, allowing everyone to pick the format that works best for them.

ILIA Beauty appoints former Murad boss as new CEO

ILIA Beauty appointed Paul Schiraldi as its new Chief Executive Officer, replacing Lynda Berkowitz, who has stepped down after nearly eight years in the role. Berkowitz will "semi-retire", transitioning into an advisory role at Famille C, the majority owner of ILIA Beauty.

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