Procter & Gamble is at it again — acquisitions, that is.The consumer products giant made its second acquisition in the past three months with the purchase of Snowberry, a New Zealand-based prestige skin-care business. The company was founded by Soraya Hendesi, and the products are free of petrochemicals, sulphates, artificial coloring, silicones, glycols and parabens. Snowberry makes products like Gentle Cleanse & Tone, $45, and Nourishing Lite Day Cream, $70.P&G declined to make executives available for interviews. Terms of the deal were not disclosed.Snowberry falls in the prestige beauty category, which P&G mostly exited when it sold its specialty beauty portfolio to Coty Inc. P&G does still own premium skin-care brand SK-II, which has been lauded on the company’s recent earnings calls as a source of growth.“We estimate P&G’s super-premium skin care brand SK-II accounted for about half of the company’s sales growth in [the second quarter of fiscal 2018], compared with about a quarter of organic growth in [fiscal 2016] and [fiscal 2017],” wrote Stifel analyst Mark Astrachan in a note in January, when P&G reported earnings for its second fiscal quarter. “Brand growth accelerated sequentially in [the second fiscal quarter of 2018] and was highlighted as a growth driver of the beauty segment for both developed and developing markets, including a meaningful contributor to a 7 percent mix benefit, distantly the strongest level of growth in at least 15 years.”The purchase follows P&G’s deal for Native, a natural deodorant company. P&G executives have demonstrated interest in the natural category on the company’s recent earnings calls.P&G’s acquisition activity comes as it works to ramp up growth. The company recently ended a months-long proxy fight with activist investor Nelson Peltz, who was granted a seat on the P&G board. During that period, Peltz advocated for small acquisitions that could drive growth.The group is just one of the players making acquisitions in the beauty and personal care space. Edgewell Personal Care, traditionally a grooming business, recently acquired men’s brand Jack Black. Colgate — better known for toothpaste than toner — started building its professional skin-care business with the acquisitions of PCA Skin and EltaMD. Other recent acquisitions include Kao’s purchase of Oribe, Eurazeo Brands’ deal for Nest Fragrances and MidOcean Partners investment in BH Cosmetics.
Exclusive: @dsquared2 signs fragrance licensing agreement with Euroitalia, with the first effort of the new partnership being unveiled in September. The brand will launch two scents – one for men and one for women – in Italy. Read our interview with designer Dean and Dan Caten on WWD.com. #wwdbeauty #wwdnews (📷: @zefashioninsider)
@louisvuitton has officially renewed Nicolas Ghesquière’s contract as artistic director of women's collections. "I am very pleased to open the next chapter of the story I started with Louis Vuitton almost 5 years ago," said Ghesquière, who first signed on to design the French luxury brand's women's line in 2013. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @giovanni_giannoni_photo)
“I learned then and there that I had to figure out a way in life to maintain and preserve my sense of pride when I felt good about what I did or what I represented or created,” said @saintrecords on how being bullied for wearing capri pants inspired her to be the artist she is today. Knowles was at the 70th Parsons Benefit last night where she outbid the room for a Dapper Dan customized @gucci experience. #wwdeye (📷: @lexieblacklock)
“There’s this amazing braintrust of people who know the whole universe so well. So we talked to them and they gave us more input,” said actor Alden Ehrenreich on playing the young Han Solo in “Solo: A Star Wars Story.” The cast was at NYC’s SVA Theatre last night for an advanced screening of the film, which hits theaters this week. #wwdeye #starwars #hansolo (📷: @aurorarosedecrosta)
@asaprocky spent nearly two hours in a Plexiglas box Sunday night at @sothebys putting himself through a series of “tests” to demonstrate the process of completing his new album called “Testing.” Get all the details and see all the pictures on WWD.com. #wwdeye
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion (📷: Dan Doperalski)
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)