Page 2 - Cosmetics Industry

Shoppers Stop Q2 results: Net profit slumps at Rs 2.7 crore on weak demand

Retail chain Shoppers Stop on Wednesday reported a decline of 83.14 per cent in consolidated net profit at Rs 2.73 crore in the second quarter ended September 30, on muted demand in the apparel business and offset by growth in non-apparel business. The company had posted a net profit of Rs 16.20 crore in the July-September period a year ago, Shoppers Stop said in a regulatory filing. Its revenue from operations during the first quarter of this fiscal was at Rs 1,039.12 crore, up 2.6 per cent against Rs 1,012.74 crore in the year-ago period. The total expenses in the September quarter were at Rs 1,041.31 crore, up 5 per cent. "Shoppers Stop reported impressive financial results, despite challenging market conditions and shifting of Pujo from Q2 to Q3 this fiscal. We have witnessed a strong pick-up in the Beauty businesses and consistent performance from non-apparels," Shoppers Stop Executive Director and CEO Kavindra Mishra said. Its "net profit for the quarter was affected due to

Honasa's Derma Co crosses annual run rate of Rs 350 cr in June quarter

The company has also acquired stakes in BBlunt and Dr. Sheth's

Nykaa consolidated net profit up by 8% at Rs 5.4 cr in June quarter

Beauty and fashion firm FSN E-Commerce Ventures, which operates under Nykaa brand, on Friday posted 8 per cent increase in consolidated net profit at Rs 5.4 crore for June quarter 2023-24. The company had clocked a net profit of Rs 5 crore in the same period a year ago. Profit attributable to equity shareholders, however, declined about 26 per cent to Rs 3.3 crore from Rs 4.5 crore in April-June 2022. Consolidated revenue from operations increased about 24 per cent to Rs 1,421.8 crore during the quarter from Rs 1,148.4 crore in the corresponding period of 2022-23. "Our beauty vertical continues to shape into an ecosystem of its own with steady and balanced growth across our online platforms, physical footprint as well as our consumer brands. Fashion's consumer brands also experienced steady growth with our own labels now spanning across categories westernwear, indianwear, lingerie, menswear, accessories and much more," Nykaa Executive Chairperson, MD, and CEO Falguni Nayar said i

Indians spent Rs 5,000 crore on cosmetics in 6 months, mostly online: Study

Kantar Worldpanel study reveals that working women leading the way of cosmetic purchases both online and offline

Health min moots Centre, state be empowered to regulate drugs, cosmetics

The Union Health Ministry has mooted that either the Centre or state authorities be empowered to regulate the manufacture of drugs and cosmetics, changing its earlier proposal of allowing only the Central Drugs Standard Control Organisation (CDSCO) to do so. As of now, all manufacturing activities relating to drugs and cosmetics are regulated by only the state governments through their drug control organisations, official sources told PTI. The draft bill also mentions that the Central government may regulate, restrict or prohibit selling, stocking, exhibiting or offering sale or distribution of any drug online by notification. The latest draft of the New Drugs, Medical Devices and Cosmetics Bill, 2023, which seeks to replace the Drugs and Cosmetics Act of 1940, is yet to be approved by the Cabinet. It, however, features among the 21 key bills that are on the agenda for the Monsoon session of Parliament. The latest version of the draft bill states, "No person shall himself or by an

L'Oreal to buy luxury cosmetics brand Aesop in $2.5 billion deal

At L'Oreal, Aesop joins a cast of luxury brands such as Lancome and Yves Saint Laurent as the French company bets on a continued drift toward high-end cosmetics

Online cosmetics retailer Nykaa's Q2 net more than doubles to Rs 5.2 cr

Revenue for the quarter was up 39% YoY to Rs 1,230.8 crore

Rise of cosmetic dermatology space gets big pharma looking for buyouts

According to reports, Torrent Pharmaceuticals is set to sign a deal to acquire Curatio Healthcare, a maker of skincare products, for Rs 2100 crore.

Cosmetics firm L'Oreal ties up with Nasscom to innovate business operations

Joint initiative to explore potential application of AI, ML IoT and AR/VR in cosmetics and dermatology, and product development and personalisation at L'Oreal

German skincare brand Sebamed cuts prices, to use sachets for Indian market

The brand usually caters to premium consumers in personal care and baby care and it is a recent entrant in India

Beauty brand RENEE Cosmetics raises $10 mn in funding by Mensa brands

RENEE Cosmetics plans on utilising funds majorly in strengthening the brand presence and widening offline presence.

We are close to doubling revenue in FY22: Mamaearth CEO Varun Alagh

On Saturday, Mamaearth became the first start-up to enter the unicorn club in 2022 with a $52 million fundraise

'Anti-aging freak' gets $817 million haul in Japan's hottest stock

Kiyoshi Matsuura was so worried about growing old that he used anti-baldness treatment as a teenager: it's an obsessions reaping him profits

L'Oreal turns to Google as coronavirus spurs virtual make-up shift

Shoppers searching Google for cosmetics will be able to try them on virtually through a deal with L'Oreal, as the French group looks to make up for lost store sales caused by coronavirus lockdowns

Indian cosmetics industry to touch $35 bn by 2035: Assocham

The herbal cosmetic industry is expected to grow at 12% in India