Colgate Doubles Down On Premium Skin Care With $1.7bn Filorga Acquisition
Back in April, CEO Noel Wallace noted Colgate’s interest in further skin-care M&A during his first quarterly presentation at the firm’s helm. The Filorga purchase is significantly bigger than 2018 deals that whet Colgate’s appetite for high-growth, high-margin skin care and represents a gateway to the fast-growing travel retail channel.
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Successfully acquired by Colgate-Palmolive on 31 January, Hello quickly made a statement with the launch of a CBD oral-care range and its first go at lip care, CBD Vegan Lip Balm. Available exclusively through Ulta Beauty, the CBD products have the potential to score well with younger consumers interested in natural ingredients, eco-friendly packaging and, of course, cannabis-based innovations.
Colgate changing to be more “agile” and predictive of local trends while also cutting product development time significantly, says CEO Noel Wallace. Approach has worked well in natural toothpaste business, where firm is gaining market share with toothpastes appealing to local preferences.
Lauder again hikes its full-year net sales guidance after beating expectations with 11% reported growth in the fiscal 2019 third quarter. Coty reports on its turnaround progress, and Revlon points to optimistic improvements that drove Q1 constant-currency net revenue growth of 2.3%.