Honasa Consumer targets Gen Z with colour cosmetics brand Staze
Honasa Consumer diversifies into colour cosmetics with Staze, targeting young consumers with affordable products. The company's strategic expansion aims to capture a share of the growing beauty market by introducing new brands and categories. Key Points
Economic TimesUS mulling bans on cosmetics having 'forever chemicals'
Several US states are considering banning cosmetics and other products containing harmful chemicals, known as PFAS or per- and polyfluoroalkyl substances. They are also known as 'forever chemicals'. Key Points
India TodayBhumi Pednekar is first India ambassador for MAC Cosmetics’ VIVA GLAM Charitable initiative
With this launch, Pednekar joins previous ambassadors including Miley Cyrus, Elton John, Mary J. Blige, Rosalia and Ricky Martin. The Viva Glam Bhumi Pednekar lipstick thus launched is a limited-edition lipstick co-created by the actor and M·A·C Cosmetics. Key Points
mintTop Vini execs brought in after KKR deal walk out
Vini Cosmetics, backed by KKR, has seen several top-level exits, including CEO Vishal Kaul and CMO Sushrut Pant. The company's founder and non-executive chairman Darshan Patel confirmed the resignations and stated that replacements are being sought. Key Points
mintExclusive: Malabar Investments eyes Sugar cosmetics stake via Rs 80-100 crore secondary round
The secondary deal likely to value Sugar cosmetics at Rs 2,900 crore. Early backers like RB Investments, India Quotient, and angels are likely to part-sell shares in the ongoing funding round, according to people in the know of the matter. Key Points
Economic Times
The Body Shop files for bankruptcy, shuts down all US-based stores
The UK-based cosmetics company, The Body Shop, shut down all of its US-based operations and will soon be closing dozens of Canadian store locations... Key Points
The Tribune IndiaIndians spent over Rs 5,000 cr on cosmetics in last six months, sector may gain as more women go to work:
Indian buyers spent over ₹5,000 crore on more than 100 million cosmetic products in the last six months, with 40% making purchases online, according to Kantar Worldpanel's initial study on the industry in India. The data suggests working women who buy both online and offline spend 1.6 times what average consumers pay. Key Points
Economic TimesChemists' body urges cabinet secy to ban online pharmacies
The chemists's body has alleged that no further action has been taken, despite notices being served on various online pharmacies by the Drug Controller General of India (DCGI) in February. The chemists' body also brought an affidavit filed by the joint drug controller in 2020 which stated that there is currently no provision under the Drugs and cosmetics Act, 1940 and Drugs and cosmetics Rules, 1945 for online pharmacies. The issue of online sale of drugs was under the consideration of the government, it said. Key Points
Economic TimesHeinz India to pay tax at higher rate for Nycil: SC
A Bench led by Justice S Ravindra Bhatt on Friday upheld the decisions of the Kerala and Madras high courts that 'Nycil Prickly Heat Powder' cannot fall within the ambit of the category of medicine , i.e., Entry 79 of the Kerala General Sales Tax Act. Key Points
Economic Times