On January 5, Korean skincare brand Laneige announced that its first global brand ambassador will be renowned actress and two-time Emmy Award nominee Sydney Sweeney.
Beauty
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On December 23, The Shiseido Americas Corporation, a Shiseido Company subsidiary, announced the acquisition of DDG Skincare Holdings LLC, which owns Dr. Dennis Gross Skincare.
Korea is one of the most advanced countries in the world in the beauty industry, but the popularity of Korean beauty is not limited to Asian countries; it is also creating a huge boom in the North American market.
Swedish fast fashion brand H&M will raise the price of garments produced in Bangladesh to compensate for higher wages for supplier workers.
On August 29, E.l.f. Beauty announced that it has entered into a definitive agreement to acquire Naturium for $355 million in cash and stock.
Along with New York Fashion Week, Chanel will open a diner in New York City.
From Friday, September 8 to Saturday, September 10, Chanel will celebrate the launch of its iconic Chance fragrance in Williamsburg, Brooklyn with a diner-themed pop-up event, LUCKY CHANCE DINER.
Marc Jacobs Beauty is coming back with a new agreement with Coty, a beauty conglomerate that has created fragrances for numerous luxury brands.
On August 9, synthetic biotechnology company Amyris, Inc. filed for bankruptcy in the U.S. Bankruptcy Court in Delaware.
Last April, luxury marketplace Farfetch made a splash with its entry into the beauty sector. However, the company has recently been facing difficulties in running its beauty division, and industry insiders are reporting that Farfetch’s beauty division may be shutting down.
Leading sports apparel brand Nike has announced plans to partner with FitLab, an integrated operating company of performance lifestyle brands, to open group fitness studios called Nike Studios later this year.