MILAN — As part of a high-end beauty buying spree, Unilever said it plans to acquire the skin-care business Carver Korea for 2.27 billion euros from Bain Capital Private Equity and Goldman Sachs.Carver was founded in 1999 as a supplier of professional products to beauty salons, and in 2016 had sales of 321 million euros and EBITDA, or earnings before interest, taxes, depreciation and amortization, of 137 million euros.According to Unilever, Carver is now the fastest-growing skin-care business in South Korea via sales of its brand AHC, which markets antiaging, hydration and nourishment products. Its star product is called Eye Cream for Face, and AHC also offers essences, toners, moisturizers, masks and sun protection.“It is an impressive business that is completely aligned to our personal-care strategy,” said Alan Jope, president of Unilever personal care, adding that the acquisition would significantly strengthen Unilever’s position in North Asia, the largest skin-care market in the world, and complement the existing portfolio.“AHC has been strongly gaining popularity thanks to its efficacious, innovative and premium products, and it, therefore, offers great opportunities for growth.”The transaction, which is subject to regulatory approvals, comes on the heels of a number of high-end deals for Unilever, including Hourglass Cosmetics — which it purchased in June for $250 and $300 million, Living Proof, and skin-care brands Murad, Kate Somerville and Ren.Personal care is Unilever’s single largest division, with revenues in 2016 of 20.2 billion euros. Its food and refreshment divisions combined were 22.5 billion euros. Principals have said the focus will be on those two divisions as the company seeks to streamline operations and build sales and profits through acquisitions.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion