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Q1: Unilever was named among the many ‘soiled dozen’ for failing to exit Russia correctly. Huda Magnificence closed its Tmall retailer, marking an exit from the Chinese language market. L’Occitane reported an 8 p.c development in Q3 gross sales however felt the impression of China’s COVID-19 exit technique. E.l.f. withdrew from China, and Unilever Nigeria pulled out of the house care and pores and skin cleaning classes.
Q2: Essity finalized the sale of its operations in Russia. Avon Firm bid farewell to Puerto Rico and the Caribbean markets. Sephora ended its operations in Taiwan, whereas Etude Home shut down its enterprise in Hong Kong. Henkel offered its Russian enterprise to native traders. Inditex obtained approval to promote its Russian arm to the Daher Group. Moreover, Nykaa skilled the departure of 5 executives, together with a number of high-ranking officers.
Q3: The salon in Bergdorf Goodman’s penthouse shut its doorways. Essity inked a deal to promote its Russian operations to New Applied sciences LLC. Johnson & Johnson separated from Kenvue Inc. Procter & Gamble backtracked on its dedication to buying wooden pulp from degraded forests. Yves Rocher ceased operations in Germany, Austria, and Switzerland. Procter & Gamble’s First Assist Magnificence (FAB) model shuttered its on-line presence on platforms like Douyin and Tmall. Kao contemplated the divestment of a number of non-core cosmetics manufacturers. L’Oreal finalised the sale of its Sanoflore.
This fall: Farfetch put Violet Gray up on the market. L’Oréal discontinued its Decléor skincare line. Unilever offered a good portion of Greenback Shave Membership to Nexus Capital Administration LP. The Carlyle Group thought of promoting Each Man Jack. Males’s skincare model Disco filed for Chapter 7 chapter. Harvey Nichols introduced the closure of its Hong Kong Central retailer. Natura &Co offered The Physique Store. Procter & Gamble shifted to an import-only mannequin in Nigeria, ending its native operations. LVMH offered most of its stake in Cruise Line Holdings Co., the proprietor of Miami-based Starboard
The submit 2023 Year in Review: Exit appeared first on Global Cosmetics News.
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