Last week in beauty Saks emerges from bankruptcy while Harvey Nichols could be put up for sale.
SAKS EMERGES FROM BANKRUPTCY AS EXEMPLAR LUXURY GROUP
Saks Global has exited Chapter 11 bankruptcy and rebranded as Exemplar Luxury Group, with a nearly 75% debt reduction and new ownership under a restructured board. The group continues to operate Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue, with a new board including former Ulta Beauty CEO Dave Kimbell and ex-Moët Hennessy CEO Philippe Schaus.
HARVEY NICHOLS REPORTEDLY PUT UP FOR SALE
Hong Kong billionaire Dickson Poon is reportedly exploring a sale of Harvey Nichols after 35 years of ownership, having appointed financial advisors to explore strategic options for the loss-making luxury department store business. The retailer, which has been undergoing a recovery plan under CEO Julia Goddard following store closures and a flagship revamp, could also consider bringing in investment partners, with a deal potentially materializing in the coming months.
EU REMOVES CUSTOMS EXEMPTION FOR LOW-VALUE E-COMMERCE IMPORTS
The European Union has abolished the customs duty exemption for packages valued below €150, introducing a €3 customs duty per item on low-value imports from third countries, with charges collected from platforms rather than consumers at delivery. The measure, which also introduces product identifier declarations to strengthen safety checks, aims to create a level playing field for EU retailers and increase scrutiny of imported cosmetics, following findings that over 60% of low-value imports failed to meet EU safety requirements.
COTY RESHUFFLES LEADERSHIP TO STREAMLINE OPERATIONS
Coty has reshuffled its executive team, with interim CEO Markus Strobel taking direct control of prestige commercial operations, while three senior leaders including chief commercial officer Caroline Andreotti are departing. The changes aim to accelerate the Coty.Curated strategy and simplify operations, following a third quarter where net revenue fell 1% to $1.28 billion.
IBERCHEM OPENS NEW MEGA-CENTER IN GUANGZHOU
Spanish fragrance and flavor company Iberchem has inaugurated a new 30,000-square-meter mega-center in Guangzhou, China, featuring R&D labs, production facilities and a fully automated warehouse to accelerate growth across the Asian market. The facility, which employs 170 people and strengthens the company’s presence following its 2020 acquisition by Croda, will focus on advanced fragrance technologies including microencapsulation and applied neuroscience.
PREMIÈRE VISION TO BRING BEAUTY TO FASHION TRADE SHOWS
Première Vision has signed a partnership with French beauty cluster Cosmetic Valley to introduce beauty offerings into its fashion trade shows, starting with a “Cosmetic Village” at Première Vision Paris in September 2026 featuring French beauty manufacturers. The collaboration aims to create cross-industry synergies, enabling fashion brands to diversify into beauty while helping cosmetics companies find new growth partners and production opportunities.
L’ORÉAL TARGETS GEN-Z WITH NYX SCENTED MISTS
L’Oréal is entering the mass-market scented mist category with its NYX brand, offering hair and body mists priced at under €14 for 80ml, targeting Gen-Z consumers seeking affordable, trend-driven fragrances. The move aims to diversify NYX beyond slowing makeup sales and tap into the fast-growing body mist market, where competitors like Sol de Janeiro and PHLUR are already active.
L’ORÉAL EXPANDS RNAI RESEARCH PARTNERSHIP TO NAIL HEALTH
L’Oréal has expanded its RNA interference research partnership with South Korean biotech OliX Pharmaceuticals to include nail health alongside skin and hair applications, building on a collaboration launched in 2025. The extended agreement follows L’Oréal venture fund BOLD’s recent investment in OliX’s KRW 110 billion funding round, reinforcing the beauty giant’s commitment to advanced biotechnology platforms for next-generation innovations in emerging categories.
OLAPLEX ENTERS FRAGRANCE WITH LIMITED EDITION HAIR AND BODY MIST
Olaplex has launched a limited edition Signature Hair and Body Mist priced at $28, featuring grapefruit zest and sugared mint notes that echo the scent of its hero hair care products like No.3 Hair Perfumer. The launch, available on Olaplex.com and Sephora U.S., follows consumer demand and joins a growing trend of hair brands including Gisou, Amika and Sam McKnight expanding into fragrance.
BOOTS EXPANDS PREMIUM BEAUTY WITH CHARLOTTE TILBURY LAUNCH
Boots has partnered with Charlotte Tilbury Beauty to launch the prestige brand in 31 UK stores starting July 3, offering the full product range alongside personalised consultations and beauty services. The partnership strengthens Boots’ premium beauty position while expanding Charlotte Tilbury’s physical retail footprint in response to strong consumer demand for in-store discovery and expert advice.
BOOTS EXTENDS LATE-NIGHT DELIVERY AS WORLD CUP BOOSTS DEMAND
Boots has expanded its late-night on-demand delivery service through Deliveroo until midnight at 25 additional UK locations, responding to increased demand for SPF, hayfever and recovery products during the summer football tournament. The retailer now offers on-demand delivery from more than 500 stores across the UK through Deliveroo, Uber Eats and Just Eat.
BEIJING LIYUAN TO EXIT CHINA SHISEIDO COSMETICS JOINT VENTURE
Beijing Liyuan is seeking to sell its 35% stake in Shiseido Liyuan Cosmetics for at least RMB199.5 million (US$29.3 million), ending a more than 30-year partnership with Shiseido. The joint venture, established in 1991 to develop products for Chinese consumers including the Aupres brand, remains subject to completion.
PERFECT DIARY EXPANDS INTO SEPHORA CHINA
Yatsen Group has launched its flagship color cosmetics brand Perfect Diary in approximately 300 Sephora stores across China, marking the brand’s transition from a value-focused digital player to a science-driven premium beauty label with prices now ranging from RMB100 to 200. The Sephora partnership provides offline visibility and supports Yatsen’s ambition to establish Perfect Diary as a global prestige player, with future expansion into Hong Kong and other international markets.
VALENTINO BEAUTY NAMES ACTORS JOHNSON & SKARSGÅRD AMBASSADORS
Valentino Beauty has appointed actors Dakota Johnson and Alexander Skarsgård as its new fragrance ambassadors, fronting a campaign that celebrates emotional intensity, individuality and deep human connection. The brand also expanded its Born in Roma collection with the launch of Hair & Body Mists this month.
BODYCARE BRAND SALTAIR EXPLORES SALE AS GROWTH ACCELERATES
Body care brand Saltair is reportedly exploring a potential sale, with parent company The Center appointing Raymond James to manage the process and seeking bids as the brand is projected to generate approximately $150 million in sales in 2026. The brand, which launched in 2022 with model Iskra Lawrence and is distributed through Target, Ulta Beauty and Amazon, follows The Center’s previous sales of Naturium to e.l.f. Beauty for $355 million and Phlur to TSG Consumer.
