Cosmetics

L'Oral India FY24 results: Profit marginally down at Rs 487.46 cr

Comestic major L'Oral India reported a marginal decline in profit to Rs 487.46 crore in FY24, while its revenue from operations -- income from net sales -- was up 12.6 per cent to Rs 5,576.47 crore, according to an RoC filing. Its total income, which includes other income, was up 13.83 per cent to Rs 5,684.60 crore for the financial year ended March 31, 2024. L'Oreal India Pvt Ltd had reported a profit of Rs 488.35 crore and its revenue from operations was at Rs 4,952.55 crore a year earlier, for 2022-23, according to financial data accessed through business intelligence platform Tofler. Its "advertising promotional expenses" in FY24 were up 23.7 per cent to Rs 1,714.54 crore, as against Rs 1,385.74 crore a year ago. Moreover, the royalty paid to its French parent firm was up 16.3 per cent to Rs 265.16 crore in FY24. This "cost royalty" was at Rs 228.05 for FY23. L'Oral India is a subsidiary of French multinational L'Oral SA, which owns a 99.99 per cent stake in the company. Tota

Confident of achieving $31 bn chemical export target in FY25: CHEMEXCIL

The export target of USD 31 billion for 2024-25 will be achieved, as there is a healthy demand for 'made in India' chemicals in countries like Brazil, the US, Japan and Saudi Arabia, CHEMEXCIL Director General Raghuveer Kini said. The Basic Chemicals, Cosmetics and Dyes Export Promotion Council (CHEMEXCIL) is set by the commerce ministry to promote exports of these goods. Kini said that the total exports of chemicals during April-September rose by 4.57 per cent to USD 14.1 billion. "So far, we are registering good growth, and we are confident of achieving the USD 31 billion target this fiscal. Last year, it was around USD 30 billion," he added. During the second half of this year, the exports will grow at a faster pace, he noted. "Last year, because of drought in Brazil, which is the key market for us, exports were down. But this year, the situation is good, and we expect high growth," Kini said. India exports these goods worth about USD one billion annually to the South American

French cosmetics L'Oreal Q2 sales rise but depressed China market weighs

The Paris-based company, which owns the Maybelline and Lancome brands, said on Tuesday that sales in the quarter reached 10.88 billion euros

Eris buys India formulation biz of Biocon Biologics for Rs 1,242 crore

The deal would enable Eris' entry into the Rs 3k cr injectables market, and it would become one of major players in the insulins segment with the acquisition of Biocon Biologic's Basalog and Insugen

The Body Shop ends US operations; to close Canadian stores amid bankruptcy

Despite having more than 2,500 retail locations in 80+ countries, The Body Shop has faced challenges in recent years and struggled to compete in the market, leading to its bankruptcy filing

Indians spent Rs 5,000 crore on cosmetics in 6 months, mostly online: Study

Kantar Worldpanel study reveals that working women leading the way of cosmetic purchases both online and offline

Health min moots Centre, state be empowered to regulate drugs, cosmetics

The Union Health Ministry has mooted that either the Centre or state authorities be empowered to regulate the manufacture of drugs and cosmetics, changing its earlier proposal of allowing only the Central Drugs Standard Control Organisation (CDSCO) to do so. As of now, all manufacturing activities relating to drugs and cosmetics are regulated by only the state governments through their drug control organisations, official sources told PTI. The draft bill also mentions that the Central government may regulate, restrict or prohibit selling, stocking, exhibiting or offering sale or distribution of any drug online by notification. The latest draft of the New Drugs, Medical Devices and Cosmetics Bill, 2023, which seeks to replace the Drugs and Cosmetics Act of 1940, is yet to be approved by the Cabinet. It, however, features among the 21 key bills that are on the agenda for the Monsoon session of Parliament. The latest version of the draft bill states, "No person shall himself or by an

Delhi HC seeks Centre's reply on PIL for QR codes on medicines, cosmetics

The court asked the authorities to file their response to the PIL and posted the matter for next hearing on August 16

Lakme at 70: The story of India's first cosmetic brand

Online cosmetics retailer Nykaa's Q2 net more than doubles to Rs 5.2 cr

Revenue for the quarter was up 39% YoY to Rs 1,230.8 crore

Nothing Ear (stick) unveiling scheduled for October 26: What to expect

The Nothing Ear (stick) is expected to be an affordable pair of true wireless earbuds. It may lack the Active Noise Cancellation (ANC) feature, which was available on the Nothing Ear (1)

Cosmetics firm L'Oreal ties up with Nasscom to innovate business operations

Joint initiative to explore potential application of AI, ML IoT and AR/VR in cosmetics and dermatology, and product development and personalisation at L'Oreal

Skincare start-up Mamaearth eyes $3 bn valuation in 2023 IPO: Report

Company, popular in India with its range of 'toxin-free' products last valued at $1.2 bn.

Cosmetics maker Revlon, in $3.31 bn debt, nears bankruptcy filing: Report

The lipstick maker began talks with lenders ahead of looming debt maturities to try to steer the business clear of bankruptcy, a report said

Not big players, but small brands catering to the needs of India: CAIT

CAIT said it is a myth that about 3,000 big brands of corporate houses are catering to the needs of the people of the country

German skincare brand Sebamed cuts prices, to use sachets for Indian market

The brand usually caters to premium consumers in personal care and baby care and it is a recent entrant in India

E-commerce firm Purplle acquires Indian arm of makeup brand Faces Canada

The deal size was not disclosed

Nykaa looks to triple store count in retail expansion: CEO Falguni Nayar

Falguni Nayar declined to give a timeline for the rollout but said the company was targeting 100 cities.

D2C player MyGlamm emerges stronger from setbacks, plans to float IPO

The company, which saw investors pull out of a fund raise as the pandemic struck, is now eyeing an annual revenue run rate of Rs 600 cr by this December

This IIT grad is taking on MNC giants with her $100 mn beauty brand

Before the Covid-19 outbreak in the country, Vineeta Singh's firm SUGAR had already crossed Rs 100 crore in net revenue and posted an 85% YoY growth rate