Latest News Making Headline in the Fashion & Personal Care Industry

Latest News Making Headline in the Fashion & Personal Care Industry

Latest News Making Headline in the Fashion & Personal Care Industry

H&M Sales Exceed 20% and Reach SEK54.106 Million Gross Profit

July 2022: H&M Group, a multinational clothing company headquartered in Sweden, announced results of its sales report for the first half of fiscal 2022. The renowned fast-fashion company exhibited a surge of about 20 percent in terms of sales during the six months till May 31, 2022. The brand’s gross profit exceeded approximately SEK54.106 million during the same time period.

The brand had previously warned that sales in June were most likely to decline, as compared to that of the same month the previous year owing to paused sales in Russia. It further declared novel goals for Latin America on the back of a large number of new lease signings.

As per Helena Helmersson, CEO, sales of the H&M Group increased because of the well-received collections that every store had brought in the first quarter of 2022. The brand also witnessed lower markdowns and high full-price sales worldwide. The brand is nowadays focusing on catering to customers’ ever-growing expectations of sustainable and cost-effective fashion. It has positioned itself highly among customer offerings and is strengthening its digital, as well as physical sales channels.

Henkel Acquires Shiseido’s Professional Hair Business

July 2022: Henkel, a multinational chemical and consumer goods company based in Germany, successfully completed the acquisition of the hair business of Shiseido Professional. It includes best-selling professional hair brands, namely, Primience and Sublimic.

Shiseido is projected to retain nearly 20% stake under the terms of the deal in the legal entity in Japan. A new J-beauty innovation hub is projected to be set up in Tokyo to create and plan new products for customers in Asia Pacific. It will be serving as a new base for innovative ingredient formulation and product development for both Schwarzkopf and Shiseido Professional brands.

Regional President of Henkel Consumer Brands Asia, David Tung mentioned that the company is aiming to expand its Beauty Care business across Asia Pacific. With this unique acquisition strategy, Henkel is expected to become a dominant company in the hair professional business in Asia. The major markets in this region are Japan and China. The company has also strengthened its presence in Thailand and South Korea.

LVMH-Owned Sephora Plans to Sell Its Russian Subsidiary

July 2022: Sephora, a multinational retailer of personal care and beauty products based in Paris, declared that it is planning to sell its Russian subsidiary to the current local GM. The company’s stores located across Russia have been shut down since early March as the retailer teamed up with a slew of cutting-edge western brands getting out of the market amid ethical and safety concerns over the invasion of Ukraine.

Russia further announced its plans to seize various assets of foreign businesses, thereby compelling a large number of international brands to call time on the market once and for all. Sephora is yet to disclose financial terms of the entire deal. However, the selective perfumery company’s nearly 88 Russian outlets are anticipated to be transformed into Ile de Beaute branding.

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