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Morphe closes all standalone UK stores
Colour cosmetics brand Morphe has closed all its standalone stores across the UK and one in Amsterdam and is said to be putting its focus on wholesale and ecommerce instead.
The makeup company, which is owned by US-based beauty incubator business Forma Brands, has closed its seven shops and made 73 employees immediately redundant.
It is currently continuing to sell products via British high street retailers Boots and Superdrug, along with selected Selfridges, H Beauty and Flannels stores.
Parent company Forma Brands filed for chapter 11 bankruptcy in January 2023 and shut all its US Morphe stores, but the company was then acquired by lenders for $690m in March 2023.
Morphe was once valued at $2bn, has faced a period of difficulty due to reduced consumer demand for colour cosmetics during and following the Covid pandemic. The situation was made even more difficult when influencer partner Jeffree Star faced allegations of racist and offensive language, and another influencer partner James Charles was accused of alleged sexual misconduct.
A spokesperson from Forma Brands noted that the company “has made significant progress over the last year positioning our business for growth by focusing on our flagship Morphe brand largely through our wholesale and ecommerce operations.”
The spokesperson said the decision to close its stores in the UK and Amsterdam aligns with its “strategy to prioritise and expand our successful wholesale and e-commerce operations, similar to our model in the U.S.”
The company said it had “provided goodwill payments to all affected employees, equivalent to an enhanced redundancy package,” but former employees have still been vocal on TikTok and X (formerly Twitter), criticising Morphe for a lack of communication over the closures.
CeraVe launches in Nigeria
Nigerian health care company Konga Health revealed via its Instagram channel that it has signed a distribution agreement with French multinational L’Oréal to sell its derma skin care brand CeraVe in Nigeria for the first time.
Senior VP at Konga Health Nnenna Emenyonu said the collaboration “allows our customers access to top-tier skincare products that are dermatologically tested and proven effective.”
This comes as L’Oréal Group recently revealed that some other emerging market countries, such as Mexico and India, are seeing strong sales results, while more established markets such as the US and China slow down.
In its half-year financial results call in July 2024, CEO of the French beauty company Nicolas Hieronimus said that it aimed to reach two billion new consumers over the next decade and it’s likely that many of these will be in emerging markets.
Chanel’s high-profile executive shakeup
Anne Kirby the president of Chanel’s Fragrance and Beauty division has announced that she will retire at the end of 2024.
Kirby assumed her current role in 2018 but has worked at Chanel for over three decades. Her successor hasn’t yet been announced.
CFO Europe and President of Chanel SAS Luc Dony is also set to retire. Fabrice Raoul, who has been global CFO of the Fragrance & Beauty division since 2016, has been appointed as CFO Europe, CFO of the Corporate Finance teams in France, and CEO of Chanel SAS.
There have recently been a series of changes among long-serving, high-profile executives at the luxury brand. Global CEO Leena Nair has stated that “Leadership changes and retirements are a part of the natural cycle of business” and that the French fashion house had been “very privileged and lucky to have accomplished leaders who forged long careers.”
Guerlain x Pucci launch limited-edition makeup range
Luxury beauty brand Guerlain and Italian fashion house Pucci have collaborated on a limited-edition makeup collection.
The result of the partnership between the two LVMH-owned brands includes reformulated Rouge G lipsticks, an Ombres G eye shadow quad, and Guerlain’s iconic Météorites and Terracotta products packaged in Pucci’s ‘Marmo’ print.
The advertising campaign is set to feature ambassador Russian supermodel and businesswoman Natalia Vodianova.
The range will launch at a pop-up at Japan’s Isetan store on 15 August, then globally from 26 August in “select doors”.
Elemis cofounder to speak at B Corp festival
The cofounder of British skin care brand Elemis, Oriole Frank, will join other founders of other UK-born, eco-conscious beauty brands to speak at the B Corp festival on 11 September 2024.
Frank, along with Jo Chidley from Beauty Kitchen and Laura Rudoe from Evolve Organic Beauty, will be sharing her experiences of setting up cross-industry initiatives to drive systemic change through the B Beauty Coalition and UK Sustainable Beauty Coalition, in a bid to create a global beauty coalition for collective action.
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