Beauty Inc Unveils Top 100 Global Beauty Manufacturers

24/04/2021 Beauty & Balance Comments Off

L’ORÉAL

Clichy, France

2020 beauty sales:

$31.95 billion

€27.99 billion

-6.3% vs. 2019

Main Brands:
Consumer Products: L’Oréal Paris, Garnier, Maybelline New York, NYX Professional Makeup, Stylenanda, Essie, Dark & Lovely, Mixa, Magic.

L’Oréal Luxe: Lancôme, Yves Saint Laurent, Giorgio Armani, Kiehl’s, Biotherm, Urban Decay, Shu Uemura, It Cosmetics, Helena Rubinstein, Ralph Lauren, Viktor & Rolf, Diesel, Atelier Cologne, Valentino, Mugler, Azzaro, Prada.

Professional Products: L’Oréal Professionnel, Redken, Kérastase, Matrix, Pureology.

Active Cosmetics: La Roche-Posay, Vichy, SkinCeuticals, CeraVe.

Key Financials:

Like-for-like sales: -4.1%

Constant-currency sales: -3.6%

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Western Europe:
€7.51 billion, -9.2%
(-10.3% like-for-like)

North America:
€6.9 billion, -8.8%
(-7.4% like-for-like)

Asia Pacific: €9.8 billion, +1.5% (+3.5% like-for-like)

Latin America: €1.47 billion, -17.1% (-1.5% like-for-like)

Eastern Europe:
€1.69 billion, +11.8%
(-4.9% like-for-like)

Africa and Middle East: €620.6 million, -9.9%
(-3.3% like-for-like)

Biggest markets:
The U.S., China and France

While the world’s biggest beauty company was far from immune to the unprecedented global situation in 2020, it limited losses thanks in part to the strength of its digital capabilities and of the Active Cosmetics division, which resonated with consumers’ increased focus on health and the high demand for skin care. Implementing rigorous cost-control measures, the company achieved an operating margin of 18.6 percent, stable versus 2019. L’Oréal believes that its adaptation to the unprecedented context, which drove it to accelerate transformation initiatives, will help it to emerge stronger for the future.

E-commerce sales gained 62 percent and represented 26.6 percent of total revenues for the year.

The company noted an uptick in the second half, notably in the last quarter, when sales in all but the Consumer Products division gained on a like-for-like basis. With sales breaking the 3 billion euro barrier for the first time, Active Cosmetics did particularly well in North America and Asia. CeraVe, La Roche-Posay and SkinCeuticals, which the company said were aligned with consumers’ health preoccupations and recommended by medical professionals, all saw strong growth. CeraVe’s sales in particular almost doubled. Vichy benefited from the launch of Liftactiv Supreme H.A. Epidermic Filler.

The Consumer Products division stabilized in the second half despite the weight of the makeup category in its portfolio, and increased its market share in other key categories. It saw double-digit growth in hair color; hair care was propelled by Fructis Hair Food and Elsève Dream Long, as well as the launches of Elsève Full Resist and Ultra Doux solid shampoos. L’Oréal Paris serums and Garnier’s Fast Bright range were drivers in skin care, while despite the overall downturn in makeup, NYX and 3CE Stylenanda benefited from their digital focus.

Professional Products bounced back in the second half and outperformed the market through the year, according to L’Oréal. The digitalization of salons, the development of freelance stylists and an explosion of e-commerce were all key trends. In the U.S., the SalonCentric distribution channel posted strong growth. The division also performed well in China, especially on Tmall.

L’Oréal Luxe, despite the difficulties seen in prestige distribution in most parts of the world, returned to growth in the last three months of the year in both reported and like-for-like terms. The division’s performance was boosted by initiatives to accelerate e-commerce, particularly direct-to-consumer, the decision to maintain major launches and a focus on China. The division outperformed the luxury market — which declined by an estimated 14 percent — in all three prestige categories, L’Oréal said. Lancôme, Kiehl’s and Helena Rubinstein did well in skin care. Fragrance launches including My Way by Giorgio Armani, Voce Viva from Valentino and Libre by Yves Saint Laurent also helped to drive sales.

By region, the company described its performance in China as “spectacular,” saying the country’s contribution to overall sales for the year was significant. L’Oréal’s Chinese sales gained 24.1 percent for the year. Lancôme and L’Oréal Paris were the leading selective and mass-market brands, respectively, on Tmall, in the market.

Much speculated about over the past couple of years, a successor for Jean-Paul Agon, L’Oréal’s chairman and chief executive officer who reaches France’s legal retirement age of 65 in 2021, was announced in October. This May, Nicolas Hieronimus will take over as CEO, a decision lauded by the financial community. Agon will maintain the role of chairman. Hieronimus had been deputy CEO in charge of divisions since May 2017, when he started working side-by-side with Agon. He joined L’Oréal in 1987 as a product manager fresh out of ESSEC, one of France’s top business schools. When he headed Garnier, he was behind the launch of hair care range Fructis. As international manager of L’Oréal Paris, he positioned the brand in the accessible luxury segment. In 2011, he was named president of L’Oréal Luxe, then in 2013 took on the additional role for Selective divisions, in charge of Active Cosmetics and Professional Products as well as the company’s prestige arm.

Over the past year, he was instrumental in helping the group shift gears to help navigate the coronavirus pandemic and mitigate its impact.

Barbara Lavernos was named president of research, innovation and technologies in October, effective Feb. 1, 2021. She will also take on the role of deputy CEO, previously held by Hieronimus, in May.

In May 2020, Myriam Cohen-Welgryn joined L’Oréal as president of the Active Cosmetics division, and became a member of its executive committee. The executive, who has held senior management positions at PepsiCo, Danone Group and Mars, replaced Brigitte Liberman, who has retired.

November saw the naming of Frédéric Rozé as chief global growth officer. All of L’Oréal’s regional presidents as well as the travel-retail business will now report to Rozé.

L’Oréal restructured the scope of its reporting last November for its geographical zones. Its New Markets activity will now be divided to better represent the weight of the different markets. North Asia (mainland China, Hong Kong, Taiwan, Japan and South Korea) will be led by Fabrice Megarbane, currently CEO of L’Oréal China. A new zone, dubbed SAPMENA, was created for South Asia, Pacific, Middle East and North Africa, and will be managed by Vismay Sharma, the current managing director for the U.K. and Ireland. Sub-Saharan Africa will be headed by Burkhard Pieroth, previously managing director of the Consumer Products division for emerging markets.

At the end of March 2020, the company closed its acquisition of Groupe Clarins’ fragrance activity, integrating the Mugler and Azzaro brands into its portfolio, part of a drive to strengthen its perfume portfolio. U.S.-based mass skin care brand Thayers Natural Remedies joined the company in June, and in December, the firm invested in social selling platform Replika Software Inc. Roger & Gallet, a mid-market fragrance brand sold in pharmacies, was divested to French investment concern Impala in a deal that closed in June. The company also shuttered Clarisonic, the device brand it acquired in 2011 that failed to meet expectations.

In December, L’Oréal announced that it would acquire Japanese skin care company Takami Co., which had sales of €50 million in 2019. The deal was finalized in February 2021, and adds a digital-first Asian skin care brand to L’Oréal’s portfolio.

Sustainability continued to be a major focus, and the firm introduced L’Oréal for the Future, a series of new sustainability commitments for 2030, which involve a range of initiatives to limit the environmental impact of L’Oréal’s suppliers and the use of its products by consumers, as well as its own activities. As part of the program, the company has allocated €100 million to invest in regenerating ecosystems and help develop the circular economy and €50 million to a fund to support vulnerable women.

2

UNILEVER

London

2020 beauty sales:

$22.17 billion (EST.)

€19.42 billion (EST.)

-3.4% vs. 2019 (EST.)

Main Brands:

Beauty and Personal Care: AHC, Axe/Lynx, Clear, Dollar Shave Club, Dove, Dove Men+Care, Lifebuoy, Love Beauty and Planet, Lux, Nexxus, Pond’s, Rexona/Sure/Degree, Schmidt’s Naturals, Shea Moisture, Simple, Skinsei, St. Ives, Suave, Sunsilk/Seda/Sedal, TIGI, TRESemmé, Vaseline, The Right to Shower. Unilever Prestige: Dermalogica, Garancia, Hourglass, Kate Somerville, Living Proof, Murad, Ren Clean Skincare, Tatcha.

Key Financials:

Beauty and Personal Care division revenues: €21.12 billion, -3.4% (underlying sales growth: +1.2%, underlying volume growth: +1.2%)

Division operating profit: €4.3 billion, -4.6%

Total company revenues: €50.72 billion, -2.4%

Operating profit: €8.3 billion, -4.7%

Net profit: €6.07 billion, +0.8%

Unilever products.

It was a challenging first 18 months on the job for Sunny Jain, Unilever’s president of Beauty and Personal Care, who took on the role in June 2019.

In the unprecedented context of the global pandemic, Jain began laying the foundations for making Unilever “the most people- and planet-positive beauty business in the entire world,” he told Beauty Inc in an exclusive interview in December.

This purpose-driven approach — seen as key to resonating with consumers — was visible in initiatives under several of Unilever’s beauty brands last year. In the wake of the Black Lives Matter movement and growing demand for a more inclusive discourse in beauty, the company renamed the Fair & Lovely skin care brand Glow & Lovely. More broadly, Unilever committed to removing terms like fair/fairness, white/whitening and light/lightening from all of its products, packs and communication globally.

In the U.S., Dove cofounded the CROWN Coalition, which advocates for legislation that outlaws race-based hair discrimination, while Vaseline partnered with Medscape to train dermatologists and medical practitioners to better treat, diagnose and care for diverse skin tones. In the U.S., the company launched a new skin care brand, Mele, designed for and co-created with women and dermatologists with melanin-rich skin.

Several brands initiated campaigns designed to help consumers feel good about themselves during lockdowns. Dove’s “Courage Is Beautiful” campaign featuring frontline workers received several awards. Deodorant brand Rexona (branded as Sure and Degree in certain markets) launched the #MoveMoreAtHome initiative to encourage people to be active during lockdowns and contribute to wellbeing. Clear launched #ComeBackStronger to help consumers manage their mental wellbeing. Brand-wise, there was also the co-creation with Walmart of Find Your Happy Place, a new line of bath and body products intended to enhance wellbeing.

In December, Unilever said it plans to put its climate action targets to shareholders to vote on starting this year. In June 2020, the company announced a new target of zero net emissions, from sourcing to point of sale, by 2039.

During the year, Sunsilk, Suave and Chistaya Liniya joined the ranks of PETA-approved brands, which now number 23 in Unilever’s Beauty and Personal Care portfolio. Love Beauty and Planet launched refillable aluminum bottles for its shampoo and conditioner in the U.S., and in the U.K., the company initiated a refill trial in collaboration with Asda.

In terms of performance, skin cleansing was the main sales driver for the Beauty and Personal Care division. Thanks to growth in demand for hygiene products, Lifebuoy became Unilever’s sixth billion-euro beauty and personal care brand during 2020. The brand entered 58 new markets and launched “H for Handwashing,” an educational campaign to teach children about handwashing.

Demand decreased, though, for Unilever’s skin care, deodorants and hair care products. Skin care declined in the high-single digits, while deodorant sales dropped in the mid-single digits. In hair care, growth in demand for washing and care products offset declines in styling, with the category seeing a low-single-digit decrease in sales.

In the prestige business, which has been a pillar of Unilever’s strategy in recent years, sales declined in the low-single digits, but the company said it was nevertheless the best-performing luxury beauty business on the market last year. It generated sales in the region of €700 million, 50 percent of which were done online — compared with
9 percent for Unilever’s business overall.

The company is also flexing its muscles in what it sees as the high growth markets of the future, the U.S., India and China, where Unilever debuted its first external incubator, dubbed the Uni-Excubator, to collaborate with entrepreneurs and technology start-ups. The initiative involves a partnership with Tmall for a flagship store, Uni-Topia Planet.

In India, Unilever acquired Vwash, an intimate hygiene business.

As to people, Gülen Bengi joined Unilever as executive vice president of hair care, reporting to Sunny Jain. She was formerly president, North America for adult and feminine care at Kimberly-Clark. Jason Goldberger was named CEO of Dollar Shave Club as the digital native brand began entering physical retail.

In November, Unilever finalized the unification of its group legal structure under a single parent company, Unilever plc. The move, removing Unilever’s unique dual structure with headquarters in both London and Rotterdam, which had been in place since its inception in 1930, is intended to provide the company with “greater strategic flexibility…better positioned for
future success.”

THE ESTÉE LAUDER COS.

New York

2020 beauty sales:

$14.2 billion (EST.)

-11% vs. 2019 (EST.)

Main brands:

Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, MAC, Kiton, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Darphin, Michael Kors, Tom Ford Beauty, Smashbox, Ermenegildo Zegna, Aerin, Tory Burch, Rodin Olio Lusso, Le Labo, Editions de Parfums Frédéric Malle, Glamglow, Kilian Paris, Becca, Too Faced, Dr Jart+, Do the Right Thing.

KEY FINANCIALS (EST.):

Skin care:
$8.19 billion, +11%

Makeup: $3.92 billion, -35%

Fragrance:
$1.54 billion, -16%

Hair care:
$507 million, -13%

The Americas: $3.33 billion

EMEA: $6.08 billion

Asia Pacific: $4.79 billion

Estée Lauder Cos. brands.

Sales at The Estée Lauder Cos., like most major beauty companies, were negatively impacted by the COVID-19 pandemic, but the company was able to post growth in the final quarter of the year. The business was propelled by skin care, China and online shopping, while travel retail, makeup and in-store sales remained sluggish as consumers continued to stay home.

Revenues across the Asia Pacific region, but especially China, played a major role in the company’s stability during the pandemic. For the year, Asia Pacific sales were nearly $4.8 billion, comprising about one-third of Lauder’s total sales. The company continues to bet on the region, and is building a manufacturing facility in Tokyo and a new innovation center in Shanghai.

Lauder’s online sales skyrocketed in 2020, and now make up roughly 30 percent of the total business. Early in the pandemic, Lauder teams across brands, including sales associates, pivoted to online selling through a combination of online advice, shopping assistant options and social-media selling.

Skin care was a major bright spot for the company throughout the year. Dr. Jart+, which Lauder acquired in its entirety in 2019, contributed to sales gains. Full-year skin care sales were about $8.2 billion, meaning skin care now makes up almost 60 percent of the total business.

Makeup sales, which had already slumped as consumers continued to favor skin care, continued to have a tough year. Lauder’s makeup business is now less than half the size of its skin care operation. In early 2021, Lauder said it would wind down Becca, and industry sources have said the company started to consider divesting certain brands in makeup and hair. Prescriptives quietly closed at the end of 2020, and Lauder’s licensing deal with Kiton expired at the end of the year.

During the year, Lauder participated in COVID-19 relief efforts, including making donations of money and surgical masks, as well as manufacturing hand sanitizer in its New York and European plants. The business also reached certain sustainability goals, including net zero carbon emissions and 100 percent renewable electricity globally for its direct operations.

In June, Lauder stepped up diversity commitments with a comprehensive five-year plan meant to ensure the company hires more Black employees, and that those workers are mentored and promoted through the corporate ranks. The company was the first in beauty to release such a detailed action plan to address inequality after the resurgence of the social justice movement, and has since provided updates on internal diversity figures. The plan was established after employees flocked to an online petition calling for the business to oust Ronald Lauder, son of founder Estée, from the board because he has donated money to former President Donald Trump.

During the year, Lauder made several key promotions and hires: Jane Hertzmark Hudis was promoted to be the company’s first female executive group president; Stéphane de la Faverie was named group president and global brand president for Estée Lauder and Aerin; and Jane Lauder was named executive vice president of enterprise marketing and chief data officer.

For the next two years, Lauder will focus on its post-COVID-19 Business Acceleration plan, launched in August, that includes rationalizing the store and counter footprint in Europe, the Middle East and Africa and North America. The focus will continue to be on online sales and omnichannel operations.

PROCTER & GAMBLE

Cincinnati

2020 beauty sales:

$14 billion (EST.)

+0.7% vs. 2019 (EST.)

Main brands:

Aussie, Hair Food, Head & Shoulders, Herbal Essences, Pantene, Rejoice, VS, Walker & Co. (hair care). First Aid Beauty, SK-II, Snowberry (skin care). Olay (skin and body care). Old Spice (hair and body care, deodorant). Gillette (body care, deodorant). The Art of Shaving, Ivory, Safeguard (body care).
Native, Secret (deodorant).

Key financials:

Organic growth: +3%

2020 calendar year total company sales: $73.975 billion, +6.3%

As a whole, Procter & Gamble saw a massive lift in sales during 2020, due to the coronavirus pandemic, which had people staying home and stocking up on trusted household essentials. For the company’s beauty division, sales echoed broader themes seen throughout the pandemic — consumers bought personal care and hair care and they didn’t shop in travel retail corridors.

For P&G, those shifts resulted in new sales trends across the beauty portfolio, which had been supercharged by SK-II in recent years. But during 2020, when travel retail sales shrank and SK-II’s expansion was tempered, sales growth was instead bolstered by the sprawling nature of P&G Beauty’s portfolio. Overall, P&G Beauty sales gained 3 percent year-over-year in 2020.

Growth was supported by the company’s personal care segment, sales gains in the U.S. and China, growth from newly acquired brands, and e-commerce. Online, P&G has seen massive sales gains. In the back half of 2020, online sales gained almost 50 percent, P&G’s then chief financial officer Jon Moeller said.

Like all beauty companies, P&G was challenged by the situation in travel retail and inbound business — a non-duty free form of travel retail — that impacted SK-II more than other brands.

In the personal care category, P&G saw growth from brands like Safeguard, which saw increased hand sanitizer and liquid hand soap sales, and Old Spice, which posted nearly $1 billion in sales for the year. P&G has focused on “premiumization” across the portfolio, including in personal care.

In hair, P&G grew business in the U.S. and in China. Both markets were up in the high-single digits or more, P&G said. Head & Shoulders, now a multibillion-dollar brand, saw continued growth, as did Pantene, which continued to roll out relevant innovation, including the Nutrient Blends line, which features ingredients like rose water, bamboo and biotin. In the U.S., Aussie grew in the mass hair care channel. P&G also increased its share in the textured hair category with My Black Is Beautiful, Head & Shoulders Royal Oils and Pantene Gold Series, which all grew during the year.

New brands — Native, First Aid Beauty and Walker & Co. — also continue to grow disproportionately, and now represent about 2 percent of P&G Beauty’s annual sales, or about $280 million, collectively. Native, which makes deodorant, body wash and other products, was already nearing $100 million in annual sales in 2019.

In early 2021, P&G called off the planned acquisition of Billie, a women’s personal care and grooming business, after the Federal Trade Commission sued to block the deal, saying that it would “eliminate growing competition that benefits consumers.”

P&G continued to progress with sustainability goals in 2020. The company introduced “P&G Responsible Beauty,” a broad approach to thinking that is meant to include quality, performance, safety, transparency, sustainability, equality and inclusion across all aspects of the business. The company also experimented with new packaging, including paper tubes for Secret and Old Spice deodorants.

SHISEIDO

Tokyo

2020 beauty sales:

$8.39 billion (EST.)

¥895 billion (EST.)

-18.4% vs. 2019 (EST.)

Main brands:

Shiseido, Clé de Peau Beauté, BareMinerals, Nars, Laura Mercier, Benefique, Ipsa, Shiseido Professional, Elixir, Maquillage, Anessa, Za, Aupres, Urara, Pure & Mild, Tsubaki, Sea Breeze, Senka, Ettusais, Drunk Elephant. Fragrance: Dolce & Gabbana, Issey Miyake, Narciso Rodriguez, Zadig & Voltaire, Serge Lutens, Tory Burch.

Key financials:

Total sales: ¥920.89 billion, -18.6% (-17.8% at constant currency, -18.8% like-for-like)

Japan: ¥303.04 billion, -29.7%

China: ¥235.8 billion, +9%

Rest of Asia Pacific: ¥59.17 billion, -15.3%

The Americas: ¥91.41 billion, -25.7%

EMEA: ¥94.28 billion, -20.4%

Travel retail: ¥98.5 billion, -19.8%

Professional sales: ¥12.76 billion, -13.1%

Operating profit: ¥14.96 billion, -86.9%

Net loss: ¥11.66 billion (versus net profit of ¥73.56 billion in 2019)

Shiseido’s flagship store in Ginza, Tokyo courtesy

2020 was the final year of Shiseido’s five-year Vision 2020 management plan, which saw it work to focus more on consumers and enhance its brand value and Japanese heritage. It was also a tough year for Japan’s biggest beauty player.

Negatively impacted by the pandemic both at home and abroad, Shiseido reported significant sales declines.

In Japan, a sharp drop in the number of international tourists as well as consumers staying home resulted in falling sales, although the company worked on providing enhanced beauty information to consumers and shifting business online, where sales grew. It also worked to shift its focus in line with consumers’ new needs, introducing innovations like a hand cream under Ultimune and a BB Cream that stays in place under a mask.

In China, the market started to bounce back from March onward, resulting in sales gains, with prestige brands including Shiseido, Clé de Peau Beauté, IPSA and Nars growing significantly thanks to new counter openings and stronger investment in e-commerce. The company’s sales on Singles’ Day in November more than doubled, and e-commerce represented more than 40 percent of the group’s Chinese revenues for the year.

In the rest of Asia, particularly South Korea and Thailand, sales fell but e-commerce gained significantly, driven by the Shiseido and Senka brands.

In the Americas, the major focus for the year was restructuring at BareMinerals and ramping up marketing for Drunk Elephant, acquired in 2019. The company was impacted by retail closures — both temporary and permanent — and the makeup category was particularly challenging. E-commerce sales were strong, notably thanks to Drunk Elephant.

In Europe, the Middle East and Africa, business was also strongly impacted by the pandemic, but the company said its e-commerce business outpaced the market, notably thanks to Shiseido-brand skin care. Clé de Peau Beauté launched in Italy and Spain, and Drunk Elephant landed
in Germany.

In travel retail, losses were tempered by the channel’s strong performance in Asia, in part thanks to an influx of tourists to China’s Hainan Island and demand at South Korean downtown duty-free stores and e-commerce.

Shiseido stepped up its environmental activities in 2020, launching a global initiative called Sustainable Beauty Actions, which will see it implementing a range of sustainability-focused activities and products. One such initiative saw the company install a refill station at its newly opened store in Tokyo’s Ginza district. It also released the world’s first biodegradable lip palette in November, and said that it will make 100 percent of its packaging sustainable by 2025.

The year also saw Shiseido establish a joint venture with device-maker Ya-Man to create Effectim Co. Ltd., which started operations in October, combining devices with beauty products and initially targeting China. It launched a new sustainable brand, Baum. Plans were announced for a new innovation center in Shanghai’s The Oriental Beauty Valley.

In executive moves, the company announced in October that Yoichi Shimatani would retire from his position as representative director and executive vice president at the end of the year. He was replaced by Yukari Suzuki, whose title is representative director and executive corporate officer, making her effectively number two at the company behind CEO Masahiko Uotani. She is the first woman to hold such a role.

Marc Rey, president and CEO of Shiseido Americas and the group’s chief growth officer, stepped down in September, with Ron Gee, the U.S.-based operations CFO and Shiseido’s global chief M&A officer, stepping in as interim CEO.

Nicole Tan was named president and CEO of the Asia Pacific business, effective Oct. 1. The former Estée Lauder Cos. executive is the first woman to hold a CEO title at Shiseido.

In February this year, the company announced plans to spin off its personal care business, in order to focus on its prestige activity, with CVC Capital Partners snapping up the operation for $1.5 billion.

L BRANDS

Columbus, Ohio

2020 beauty sales:

$7.24 billion (EST).

+ 11.3% vs. 2019 (EST.)

Main brands:

Bath & Body Works: Signature Collection (fragrance, body care), Aromatherapy, Water, CocoShea, Bath Fizzies, Face Masks (body care). Men’s Collection (fragrance, body care). Hand Soaps, Hand Cream (hand care). Victoria’s Secret: Victoria’s Secret Bombshell, Victoria’s Secret Bombshell Seduction, Victoria’s Secret Love, Victoria’s Secret Heavenly, Victoria’s Secret Very Sexy, Victoria’s Secret Tease, Victoria’s Secret Eau So Sexy, Victoria’s Secret Crush, Victoria’s Secret Very Sexy for Him, Victoria’s Secret Very Sexy for Him Platinum, Victoria’s Secret The Mist Collection (fragrance mists and lotion), Victoria’s Secret Velvet Matte Lip Collection, Victoria’s Secret Total Shine Addict Gloss Collection, Victoria’s Secret Get Gloss Collection, Victoria’s Secret Angel Edit (makeup).

Key financials:

Total company sales 2020: $11.83 billion (EST.) -8.4%

Total Bath & Body Works sales: $6.43 billion (EST.) +24.4%

Total Victoria’s Secret sales: $5.4 billion (EST.) -20.7%

L Brands saw an uptick in beauty sales in 2020, moving up in the top 10 companies ranking, driven in significant part by soap and hand sanitizer purchases at Bath & Body Works.

Bath & Body Works did well, ending 2020 with sales up more than 20 percent from the prior-year period, to $6.4 billion. Business boomed, despite store shutdowns early in the COVID-19 pandemic. Bath & Body Works’ direct business more than doubled during the year, the company told Wall Street analysts. The direct business now makes up 31 percent of sales for Bath & Body Works, or about $2 billion.

Soaps and hand sanitizers are now being thought of as a “third pillar of the business,” according to CEO Andrew Meslow. Customers shopped more frequently across categories in 2020, he said, and Bath & Body Works aimed to meet the desire for “nesting at home.” Customers who shopped for soap often bought home fragrances, which also make up a significant part of the total business.

Victoria’s Secret has struggled — both because of store shutdowns and because of its outdated brand ethos, which promotes women’s sexiness as defined by men. The company plans to change that, it has said, and switch to messaging that allows customers to decide what is sexy. Victoria’s Secret total sales dipped 20 percent during the year. Beauty sales traditionally comprise about 15 percent of the Victoria’s Secret business, which would put them at about $810 million for the year. Victoria’s Secret direct channel sales increased by 31 percent.

In terms of physical retail, Bath & Body works closed 30 stores during the year, but opened 27 others. Victoria’s Secret closed 225 stores, including six Victoria’s Secret Beauty and Accessories stores. L Brands collectively ended the year with 2,669 stores, 278 fewer than the prior-year period.

L Brands spent much of 2020 restructuring the company to prepare both brands to operate as separate businesses. The company also laid out a plan to reduce costs that included layoffs of about 15 percent of its corporate headquarters, or about 850 people.

The business had inked a deal to sell Victoria’s Secret to Sycamore Partners, but it fell through early on in the pandemic. L Brands still plans to separate the two businesses, with a stand-alone Bath & Body Works looking to veer out of mall-based retail. The separation could come sometime in 2021, but timing is not confirmed.

Les Wexner, the founder, longtime chairman and CEO of L Brands, stepped down from his post during the year, after being tied to sex offender Jeffrey Epstein.

NATURA & CO.

São Paulo

2020 beauty sales:

$7.23 billion

R36.92 billion

+155.6% vs. 2019

Main brands:

Natura: Alma, Amó, Essencial, Esta Flor, Biografia, Humor, Ilía (fragrance and body care). Kaiak, Kriska, Luna, #urbano (fragrance). Chronos (skin care). Tododia (skin care, deodorant). Sou (skin, bath and hair care). Ekos (fragrance; hair, skin and body care). Una, Faces (makeup, fragrance, skin care). Aquarela (makeup). Lumina, Plant (hair care). Sève, Erva Doce (body care). Natura Homem (men’s fragrance, skin and hair care). Mamãe e Bebê (mother and baby body and hair care, fragrance). Naturé (children’s skin, body and hair care). Fotoequilibrio (sun care). Águas (fragrance). Aesop (skin, body and hair care, fragrance). The Body Shop. Avon (outside North America).

Key financials:
(on a pro-forma basis, as if the Avon business were included for both years):

Pro-forma sales growth: +12.1%

Constant-currency sales change: -2.3%

Natura & Co. Latin America net sales: R20.54 billion, +9.4%

Avon International net sales: R9.1 billion, +2.9%

The Body Shop net sales: R5.33 billion, +32.4%

Aesop net sales:
R1.95 billion, +50%

Gross profit:
R23.69 billion, +12.3%

Group consolidated net loss: R650.2 million, compared with a net income of R173 million in 2019

Inside a The Body Shop location. Courtesy Photo

It was a year of massive change for Brazil’s Natura & Co., as it integrated Avon’s business and navigated the pandemic with its inherent shift toward online and social selling. The company said it performed 6 percentage points ahead of the global cosmetics and fragrance market for the year, and it became the first Brazilian beauty company to enter the top 10 of this ranking.

“This extraordinary year, which began with us welcoming Avon into our family of iconic brands just as the pandemic began to spread, actually accelerated many of our strategic initiatives and made us truly omnichannel,” stated the company’s executive chairman and CEO Roberto Marques when the firm released its 2020 results.

The integration makes Natura & Co. the world’s fourth biggest pure-play beauty company, it said at the time of the acquisition.

Digital sales for the group gained 79 percent in the final quarter of the year. It signed a strategic partnership with Singu, a Brazilian digital platform for at-home beauty services, and launched &Co Pay, a proprietary financial services platform. Online accounted for around 30 percent of the group’s sales for the year, compared with 10 percent a year earlier.

A key area of focus was integrating Avon, as the company worked to optimize synergies between the two direct-sales player’s Latin American operations in particular, notably through merging the two brands’ logistics, for example. The company said it had advanced well with the integration, with synergies materializing ahead of plan.

It worked to simplify Avon’s commercial model across all markets with a monthly campaign and a new earnings model. It initiated rebranding and linked with social causes including fighting domestic violence and racism and promoting gender equality. Despite the impact of COVID-19 on Avon’s operations in Europe and in the makeup and fragrance categories, it said it saw market share gains in the U.K. and improvements in Russia. Overall, the brand’s sales — in Latin America and elsewhere (Natura now reports Avon’s Latin American business within its overall activity for the region) — grew 0.4 percent in Brazilian real, but dropped 14.5 percent at constant currency.

Under Natura, social selling was a major focus. For the brand’s Latin American operations, the number of consultants sharing content online grew by more than 300 percent between the first and final quarters of the year. More than 1 million Natura consultants in the region had online stores, and the number of orders processed through these grew 60 percent in the fourth quarter, compared with the prior-year period.

The brand also opened a new flagship in São Paulo, on the street where it launched its first store 50 years earlier. The boutique offers experiences including personalized gifting and digital fragrance testing, as well as digital experiences to raise awareness of communities in the Amazon rainforest. Visitors receive a free product when they return five empty packs, to promote minimizing the environmental impact of packaging waste.

The company bought back The Body Shop’s operations in Japan, launched The Body Shop At-Home in the U.S. and progressed with plans to launch the operation in China. The Body Shop closed 93 stores net through the year, and rolled out its new store concept to 13 locations.

Aesop performed particularly well, with its sales up 50 percent for the year, or 13.2 percent at constant currency, thanks to strong growth online, especially in Asia, with the brand introducing digital features such as live chats, new payment platforms and same-day delivery. Japan became the brand’s largest market. Aesop put its store-expansion program on hold due to the pandemic.

Already a leader when it came to sustainability, Natura & Co. launched a new action plan for the next 10 years, dubbed “Commitment to Life.” It includes plans to become zero net carbon, reinforces initiatives to protect the Amazon, improves gender equality and human rights in the workforce for its representatives and for suppliers, and offers fully circular packaging and 95 percent renewable or natural and biodegradable ingredients, by 2030. In late 2020, Natura & Co. also received B Corp certification at group level, becoming the largest corporation in the world to have the distinction.

Product-wise, innovations included new fragrances from Natura, the introduction of Anew Protinol skin care from Avon, based on proprietary technology for accelerating collagen production, and the Winter Jasmine line from
The Body Shop.

The company initiated two capital increases, raising a total of R7.6 billion.

BEIERSDORF

Hamburg, Germany

2020 beauty sales:

$6.28 billion (EST.)

€5.50 billion (EST.)

-9.2% vs. 2019 (EST.)

Main brands:

Nivea, Eucerin, La Prairie, Labello, 8×4, Hidrofugal, Florena, Atrix, Aquaphor, Maestro, Coppertone.

Key financials:

Consumer division sales: €5.7 billion, -9.1% (organic sales: -6.6%)

Consumer division EBIT excluding special factors: €702 million, -20.5%

Consumer division by region: Western Europe: €2.22 billion, -8.3% (-8.6% organic); Eastern Europe: €535 million, -12.2% (-5.8%); North America: €585 million +17.8% (+0.2%); Latin America: €568 million, -12.3% (+5.4%); Africa/Asia/Australia: €1.8 billion, -14.6% (-10%).

Beiersdorf’s R&I center in Shanghai Courtesy Photo

Beiersdorf continued to progress with its C.A.R.E.+ strategic program last year, aimed at better positioning the German firm when it comes to sustainability, digitalization and growth markets. It said this focus helped it to gain market share in all of its skin care categories, with its core brands, and in all regions during the year.

Nivea, the company’s biggest brand, saw its sales drop nearly 11 percent to €3.96 billion, or 6 percent on an organic basis, although the brand reportedly gained market share in more than half of the countries in which it is present. The sales decline for the Consumer business unit was cushioned by strong performance in the Derma business thanks to the Eucerin and Aquaphor brands. That unit saw sales growth of 5.3 percent to €661 million, or 8.3 percent on an organic basis, and double-digit gains in North America, Latin America and Asia.

La Prairie saw significant declines, largely due to its exposure to travel retail. Sales fell 23.9 percent to €497 million, despite double-digit growth in China. The company is hopeful that its recent launch on Tmall will help bolster sales looking ahead.

Both Nivea and Eucerin gained market share in China.

Eucerin introduced the Hyaluron Filler + Elasticity 3D Serum, based on patented active ingredient Thiamidol. Nivea expanded the Naturally Good range.

Group-wide, e-commerce sales jumped 50 percent. The company introduced the Nivea Skin Guide app, which uses AI to help consumers identify skin issues, track skin changes, as well as recommending products and offering skin care tips.

In July, Beiersdorf opened a new innovation center in Shanghai, key to boosting its local expertise in Asia. Its biggest such facility outside Hamburg, the development involved an investment of €10 million.

Chaul, a brand developed exclusively for the Asian market based on fermented tea, was launched in South Korea, the first homegrown brand to come out of the NX Accelerator in Seoul, which Beiersdorf opened in 2019.

The company debuted a new sustainability agenda, Care Beyond Skin, in early 2020. During the year, important progress was made including a switch to recycled materials for 90 percent of the Consumer division’s PET bottles in Europe and the use of only sustainably certified palm oil in cosmetics manufacturing. Toward the end of the year, the firm teamed up with chemicals company SABIC to create renewable PP plastic for its beauty packaging based on a byproduct of the paper industry.

In Germany, it introduced its first shower gel refill stations with drugstore chain DM, and has partnered with Loop to test reusable packaging under Nivea for Men. It is also participating in trials of digital watermarking technology to improve waste sorting and thereby the availability of recycled plastic content.

In February 2020, the company snapped up Stop the Water While Using Me!, a German natural personal care line offering refillable systems and biodegradable formulas.

For the C.A.R.E.+ program, Beiersdorf has said it will invest another €300 million over the next five years — in addition to the €70 million to €80 million per year initially planned — to accelerate its transformation.

In order to enhance its innovation capabilities, Beiersdorf said it would invest €60 million in a technology center at its headquarters in Hamburg by the end of 2024. The new center will allow employees and external partners including researchers, startups and suppliers to explore new concepts.

LVMH MOËT HENNESSY LOUIS VUITTON

Paris

2020 beauty sales:

$5.99 billion (EST.)

€5.25 billion (EST.)

-23.2% vs. 2019 (EST.)

Main brands:

Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Fendi, Acqua di Parma, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Fresh. Maison Francis Kurkdjian (majority stake). Kendo brands: Bite Beauty, KVD Vegan Beauty, Marc Jacobs Beauty, Ole Henriksen, Fenty Beauty by Rihanna. Bulgari. Louis Vuitton. Sephora.

Key financials:

Organic sales decline: -22%

LVMH Perfumes and Cosmetics revenue by region: France: 9%; rest of Europe: 18%: U.S.: 14%; Japan: 5%; rest of Asia: 45%; other markets: 9%.

Perfumes and Cosmetics Division profit from recurring operations: €80 million, -88.3%.

Fenty Beauty products Courtesy of Fenty Beauty

With its portfolio weighted heavily in prestige, LVMH Moët Hennessy Louis Vuitton’s beauty business in 2020 was significantly impacted by declines in spending by international travelers and the weakness of the makeup category. The company said losses were partially offset by the stronger performance of both skin care and the Asian market through the year, though it acknowledged that both also saw sales declines. According to estimates, the company’s beauty sales in Asia — outside Japan — dropped by around 13.6 percent last year, compared with around 30 percent in most other markets. Asia (excluding Japan) accounted for 45 percent of the Perfumes and Cosmetics division’s revenues in 2020, up from 40 percent a year earlier.

The company cited Guerlain and Fresh as proving resilient despite the context, but acknowledged sales declines from both brands nonetheless.

Core brand Dior’s business improved in the second half, LVMH said, especially in China, the U.S., Japan and the Middle East. Its online sales grew, especially in China.

Guerlain’s skin care offer was a strong point, notably in China, its biggest market, with key lines Abeille Royale and Orchidée Impériale seeing “exceptional” growth. The brand continued to highlight its sustainability projects, introducing a new design approach and implementing bee protection initiatives in partnership with UNESCO.

Givenchy also performed well in China, notably thanks to Prisme Libre. The L’Interdit fragrance registered market share gains in Europe, especially France. Benefit, whose cofounder Jane Ford passed away in December, was hit by the limited availability of its services due to store closures, but saw strong momentum for its online sales. Fresh also focused on digital, especially in China, and its premium line Crème Ancienne performed well, as did Kombucha Facial Treatment Essence. Fenty Beauty generated buzz with the online-only launch of the Fenty Skin range. Maison Francis Kurkdjian’s growth accelerated, notably with the new L’Homme à la Rose scent, while Acqua di Parma expanded in China. Perfumes Loewe, which launched a range of home scents, saw solid momentum in China.

The beauty division’s operating margin fell from 10 percent to 1.5 percent, despite efforts to manage costs.

The changing of the guard for LVMH’s beauty activity implemented in late 2019 continued, with Parfums Christian Dior naming Claudia Marcocci, formerly senior vice president of Gucci Beauty at Coty, as its new brand general director in February, succeeding Véronique Courtois, who moved over to head Guerlain in 2019.

Sephora rejigged its top management. Martin Brok, a former Starbucks executive, was named president and CEO in September, reporting to previous head Chris de Lapuente, who has been named president and CEO of LVMH’s Selective Retailing division, effective Jan. 1, 2021. Artemis Patrick was named executive vice president, global chief merchandising officer for Sephora, a newly created role, in August. Previously chief merchandising officer for Sephora U.S., she is known for having shaped major new categories including indie fragrances and clean beauty.

Change was also in the air at brand incubation division Kendo, which has laid off an estimated 10 percent of its staff in the wake of COVID-19, according to sources. It named Kristin Walott, formerly president, as CEO, succeeding longtime head David Suliteanu, who has left the business. Kat Von D was renamed KVD Vegan Beauty in the wake of its separation from namesake Katherine von Drachenberg, the tattoo shop owner turned reality star, who sold her ownership shares in the makeup line early in the year. Bite Beauty went vegan and expanded its offer with a range of products for the complexion.

CHANEL LTD.

London

2020 beauty sales:

$5.30 billion (EST.)

€4.64 billion (EST.)

-22% vs. 2019 (EST.)

Main brands:

Chanel No.5, Gabrielle Chanel, Allure, Allure Sensuelle, Coco, Coco Mademoiselle, Coco Noir, Chance, Chance Eau Fraîche, Chance Eau Tendre, Chance Eau Vive, No.19, Cristalle, Allure Homme, Allure Homme Sport, Allure Homme Edition Blanche, Bleu de Chanel, Pour Monsieur, Antaeus, Egoiste, Platinum Egoiste, Les Exclusifs, Les Eaux de Chanel (fragrance). Sublimage, Blue Serum, Le Lift, Hydra Beauty, CC Cream, Le Blanc (skin care). Rouge Allure, Rouge Coco, Le Vernis, Inimitable, Le Volume, Dimensions, Les 4 Ombres, Ombre Première, Les Beiges, Vitalumière, Ultra Le Teint, Le Blanc, Le Teint Ultra, Sublimage, Joues Contrastes (makeup).

Key financials:

Main markets: China, the U.S. and Japan represented an estimated 45% of 2020 sales (compared with
35% in 2019).

Inside the Chanel beauty boutique. Courtesy

Like most prestige-weighted beauty players, Chanel saw sales declines in all product categories, with more resilience for its skin care business than other segments. All regions declined, and travel retail was particularly negatively impacted by the halt in international travel.

Within fragrance, two pillars scents, Coco Mademoiselle and Bleu de Chanel, resisted better than the rest of the portfolio. Gabrielle was boosted by the rollout of Gabrielle Essence in Asia; it launched in other regions in 2019. Classic fragrance No. 5 got a new face, French actress Marion Cotillard. Coco Mademoiselle introduced L’Eau Privée, reinterpreting the accord of the original fragrance especially for nighttime wear.

The company’s makeup business, especially lip products, were the most impacted by the crisis as consumers moved away from the category. Chanel expanded its Boy de Chanel makeup line for men and there were introductions for Les Beiges Essence de Teint, a lightweight foundation with skin care benefits, and Rouge Allure Laque, a long-wearing lip color.

In skin care, boosted by Asia in particular, La Mousse continued to perform well, as did the Sublimage and Le Lift franchises. Key launches for the year included Hydra Beauty Camellia Repair Mask, Le Lift Night Cream and Sublimage l’Extrait de Nuit, a night serum.

The company saw online sales grow strongly, both on its own sites and retailer dot-com platforms. It introduced new e-commerce sites for Portugal, Luxembourg and Austria.

On the retail front, 20 new Chanel beauty boutiques opened during the year, with a focus on Asia.

To see more of the Top 100, please click here.

Beauty Inc’s 2020 Top 100

KAO CORP.

Tokyo

2020 beauty sales:

$5.09 billion

¥543 billion

-15.5% vs. 2019

Main brands:

Kao: Bioré, Jergens, Curél, Soﬁna, Asience, Essential, Merit, Feather, Liese, Blauné, Segreta, Cape, Prettia, John Frieda, Guhl, Goldwell, KMS California, Oribe, Ban (deodorant, except in Japan). Molton Brown.

Kanebo Cosmetics: Sensai, Kanebo, Kate, Freeplus, Suqqu, RMK, Athletia, Suisai, Evita, Lunasol, Media, Allie, Milano Collection, Coffret D’Or, Dew, Twany, Lissage, L’Equil.

Key financials:

Total company revenues: ¥1.38 trillion, -8% (-5.2% like-for-like)

Cosmetics sales:
¥234.1 billion, -22.4% (-22.1% like-for-like)

By market:

Japan: ¥164.2 billion, -29.3%

Rest of Asia: ¥45.4 billion, +6.2% (+7.6% like-for-like)

Americas: ¥5.5 billion, -8.4% (-6.3% like-for-like)

Europe: ¥19 billion, -7.9% (-6.9% like-for-like)

Cosmetics operating income: ¥2.6 billion, -38.8%

Skin and hair care sales: ¥308.9 billion, -9.3% (+1.4% like-for-like)

By market:

Japan: ¥177.7 billion, -10.9% (+7.4% like-for-like)

Rest of Asia: ¥25.3 billion, -11.1% (-9.4% like-for-like)

Americas: ¥68.6 billion, -3.9% (-1.7% like-for-like)

Europe: ¥37.2 billion, -9.9% (-9.6% like-for-like)

Skin and hair care operating income: ¥50.8 billion, +1.3%

LG HOUSEHOLD & HEALTH CARE

Seoul, South Korea

2020 beauty sales:

$4.54 billion (EST.)

KRW5.35 trillion (EST.)

+4.9% vs. 2019 (EST.)

Main brands:

Beauty division: The History of Whoo, Su:m37°, O Hui, Belif, VDL, CNP, CNP Rx, (luxury skin care, makeup), Jane Packer (fragrance). Dr. Belmeur, Yehwadam, Isa Knox, Sooryehan, VDIVOV, fmgt (premium skin care, makeup). The Face Shop, Beyond (skin, body and hair care, makeup, fragrance). Avon (skin, body and hair care, makeup, fragrance; in the U.S., Canada and Puerto Rico).

Home Care and Daily Beauty division: Veilment, On: The Body (body care), Physiogel (skin and body care, in Asia and North America). Fruits & Passion (body care, fragrance). Elastine, Dr.Groot, ReEn, Organist (hair care).

Key financials:

Total sales: KRW7.8 trillion, +2.1%

Operating profit: KRW1.2 trillion, +3.8%

Beauty division sales: KRW4.46 trillion, -6.1%

Beauty division operating profit: KRW823 billion, -8.3%

JOHNSON & JOHNSON

New Brunswick, N.J.

2020 beauty sales:

$4.45 billion

-3.1% vs. 2019

Main brands:

Aveeno, Bebe, Biafine, Clean & Clear, Coverblend, Dabao, Dr. Ci: Labo, Exuviance, Labo, Le Petit Marseillais, Lubriderm, NeoStrata, Neutrogena, Piz Buin, Sundown (skin, body and hair care, including sunscreen). Maui Moisture, Neutrogena, OGX, Rogaine (hair care).

Key financials:

U.S. Skin Health/Beauty Sales: $2.35 billion, -1.7%

International Skin Health/Beauty Sales: $2.1 billion, -4.6% (-2.3% at constant currency)

COTY INC.

Amsterdam

2020 beauty sales:

$4.2 billion (EST.)

-51.4% vs. 2019 (EST.)

Main brands:

Prestige: Calvin Klein, Hugo Boss, Marc Jacobs, Chloé, Balenciaga, Bottega Veneta, Alexander McQueen, Davidoff, Miu Miu, Lacoste, Tiffany & Co., Joop!, Jil Sander, Roberto Cavalli, Escada (prestige fragrance). Philosophy (skin care, fragrance). Kylie Skin, Lancaster (skin care). Gucci, Burberry (fragrance, color cosmetics).

Mass: Cover Girl, Rimmel London, Max Factor, Bourjois, Manhattan (color cosmetics). Sally Hansen, Risque (nail products). Biocolor (retail hair color). Adidas, Cenoura & Bronze, Paixão, Bozzano, Monage (body care). 007 James Bond, Bruno Banani, Katy Perry, David Beckham, Mexx, Nautica (mass fragrance).

Key financials:

Like-for-like sales decline (not including the divestment of the professional division): -28% (EST.)

The U.S., Germany and the U.K are Coty’s biggest markets, collectively accounting for more than 40 percent of sales.

HENKEL

Düsseldorf, Germany

2020 beauty sales:

$4.06 billion (EST.)

€3.56 billion (EST.)

-3.2% vs. 2019 (EST.)

Main brands:

Retail: Schwarzkopf, Syoss, Dial, Fa, Diadermine, N.A.E. (skin, hair and body care). Nature Box (hair and
body care).

Professional: Igora, BC Bonacure, Osis, Silhouette, Indola, BlondMe, Essensity, SexyHair, Alterna, Kenra Professional, Joico, Zotos Professional, Oil Ultime, Mad About, Chroma ID, TBH – True Beautiful Honest, Authentic Beauty Concept (hair care and color).

Key financials:

Beauty Care division sales: €3.75 billion, -3.2% (-2.8% like-for-like)

Beauty Care division operating profit: €246 million, -41.2%

Group sales: €19.25 billion, -4.3%

AMOREPACIFIC

Seoul, South Korea

2020 beauty sales:

$4.01 billion (EST.)

KRW4.73 trillion (EST.)

-21.9% vs. 2019 (EST.)

Main brands:

Amorepacific, Sulwhasoo, Hera, Primera, Lirikos, Iope, Laneige, Mamonde, Hanyul, Etude, Innisfree, Espoir, Bro&Tips, Be Ready, Sienu, Enough Project, Make On (skin care & makeup). Mise-en-Scene, Ryo, Amos Professional, Labo-H (hair care). Happy Bath, Illiyoon (body care). Goutal Paris (fragrance).

Key financials:

Amorepacific Group
total sales: KRW4.94 trillion, -21.5%

Amorepacific Group operating profit:
KRW150.7 billion, -69.8%

Domestic beauty sales:
KRW3 trillion, -24.8%

Beauty sales in the rest of Asia: KRW1.65 trillion, -15.9%

Beauty sales in North America: KRW76.6 billion, -17.6%

MARY KAY

Addison, Texas

2020 beauty sales:

$3.7 billion (EST.)

+5.7% vs. 2019 (EST.)

Main brands:

Mary Kay (makeup, skin, bath and body care, fragrance), Mary Kay Unlimited, Mary Kay Naturally, TimeWise, TimeWise Repair, Botanical Effects, Satin Hands, Satin Body, Satin Lips, Clear Proof, Skinvigorate (skin care). MKMen (men’s skin care, fragrance), Chromafusion (makeup).

Key financials: N/A

COLGATE-PALMOLIVE

New York, N.Y.

2020 beauty sales:

$3.46 billion (EST.)

+11.6% vs. 2019 (EST.)

Main brands:

Palmolive, Speed Stick, Sanex, Protex, Caprice, Lady Speed Stick, Softsoap, Irish Spring, Tom’s of Maine, (deodorant, skin care, lip care), PCA Skin, EltaMD, (professional skin care), Laboratoires Filorga Cosmétiques.

Key financials:

Total company sales: $16.47 billion, +5%

Oral, Personal and Home Care sales: $13.6 billion, +3%

Oral, Personal and Home Care Sales by Region:

North America: $3.74 billion, +9.3%

Latin America: $3.42 billion, -5%

Europe: $2.75 billion, +12.2%

Asia Pacific: $2.7 billion, flat

Africa Eurasia: $1 billion, flat

KOSÉ CORP.

Tokyo

2020 beauty sales:

$2.65 billion (EST.)

¥282.83 billion (EST.)

-15% vs. 2019 (EST.)

Main brands:

Decorté, Sekkisei, Jill Stuart, Addiction, Clear Turn, One by Kosé, Infinity, Crie, Esprique, Visée, Fasio, Elsia, Nail Holic, Softymo, Je L’Aime, Kokutousei, Grace One, Suncut, Prédia, Paul Stuart, Awake, Imprea, Albion, Tarte, Phil Naturnt, Formule, Maihada, Stephen Knoll New York, Cell Radiance, Spawake, Carté HD.

Key financials
(Nine months to December 2020):

Company net sales:
¥204.14 billion, -18% (-17.4% at constant currency)

Operating profit:
¥11.14 billion, -70.6%

Cosmetics sales:
¥161.22 billion, -16.4%

Cosmetaries sales:
¥40.95 billion, -23%

Japan sales: ¥124.59 billion, -28.1%

Rest of Asia sales:
¥56.74 billion, +20.7%

North America sales:
¥20.21 billion, -19.4%

Other sales: ¥2.6 billion, -28.4%

GROUPE ROCHER

Issy-les-Moulineaux, France

2020 beauty sales:

$2.37 billion (EST.)

€2.08 billion (EST.)

-5.2% vs. 2019 (EST.)

Main brands:

Yves Rocher (makeup, fragrance, skin and body care). Arbonne (skin care, cosmetics). Stanhome, Kiotis (skin and body care, fragrance). Dr. Pierre Ricaud (skin and body care, makeup). Daniel Jouvance (skin and body care, makeup, fragrance). Kiotis (skin and body care, fragrance). Sabon (skin and body care). Flormar (makeup).
ID Parfums (fragrance).

Key financials (EST.):

Group sales: €2.58 billion, -6.25%

Yves Rocher: 45.2% of sales (vs. 49.8% in 2019)

Arbonne: 26.4% (vs. 20.1%)

Stanhome: 9.2% (vs. 9.3%)

Sabon: 4.5% (vs. 3.7%)

Dr Pierre Ricaud, Daniel Jouvence and ID Parfums: 3.1% (stable)

Flormar: 1.6% (vs. 3.1%)

THE WELLA CO.

Geneva

2020 beauty sales:

$2 billion (EST.)

-13% vs. 2019 (EST.)

Main brands:

Wella Professionals, Nioxin, Clairol, Sebastian Professional, Wedo Professional, System Professional, Kadus Professional, Londa Professional, Wella, Sassoon Professional, Clairol Professional (hair care). OPI (nails).

Key financials:

Sales in the six months ended Dec. 31, 2020: $1.19 billion, flat.

Main markets: The U.S., Germany and the U.K.

REVLON INC.

New York

2020 beauty sales:

$1.9 billion

-21.3% vs. 2019

Main brands:

Revlon: Revlon, Revlon Professional, Revlon ColorSilk. Elizabeth Arden: Elizabeth Arden, Ceramide, Prevage, Eight Hour. Portfolio: Almay, American Crew, CND, Mitchum, Cutex, Crème of Nature, Natural Honey, SinfulColors, D:Fi, Orofluido, Gatineau. Fragrances: Juicy Couture, John Varvatos, AllSaints, Britney Spears, Curve, Giorgio Beverly Hills, Ed Hardy, Christina Aguilera, Jennifer Aniston, Lucky Brand, Halston, Geoffrey Beene, Alfred Sung, Mariah Carey, Elizabeth Taylor, Paul Sebastian.

Key financials:

Revlon net sales:
$688.4 million, -28.2%

Elizabeth Arden net sales: $463.5 million, -10.9%

Portfolio net sales:
$401.3 million, -17.7%

Fragrances net sales: $351.1 million, -22.5%

Operating loss: $226.3 million, N/M vs. 2019

Net loss: $619 million, N/M vs. 2019

WALGREENS BOOTS ALLIANCE

Deerfield, Il.

2020 beauty sales:

$1.76 billion (EST.)

-10% vs. 2019 (EST.)

Main brands:

No7, Botanics, Boots Soltan, Soap & Glory, Liz Earle, Sleek MakeUp, YourGoodSkin.

Key financials:
(FY ended Aug. 31, 2020):

Total sales: $139.54 billion, +2%

Retail Pharmacy USA sales: $107.7 billion, +3%

Retail Pharmacy international sales: $10 billion, -12.7%

L’OCCITANE INTERNATIONAL

Plan-Les-Ouates, Switzerland

2020 beauty sales:

$1.75 billion (EST.)

€1.53 billion (EST.)

-7.2% vs. 2019 (EST.)

Main brands:

L’Occitane en Provence (skin, hair, body and men’s care; fragrance; makeup). Elemis. Melvita. L’Occitane
au Brésil. Erborian. LimeLife.

Key financials:

Estimated sales for the calendar year fell by 4.6% at constant-currency rates

Nine months to Dec. 31, 2020:

Net sales:
€1.19 billion, -8.9%

Constant currency sales progression: -5.4%

Sales by brand:

L’Occitane en Provence €932.8 million, -9.8%
(-6.4% at constant currency)

Elemis: €116.5 million, -10.7% (+0.4% at constant currency and on a comparable basis)

LimeLife: €79.1 million, +20.8% (+24.7%)

Others: €61 million, -20.2% (-13.1%)

Largest markets:

U.S. €198.8 million, -15.8% (-12.3% at constant currency)

China: €198.6 million, +27.3% (+29.7%)

Japan: €158.9 million, -8.3% (-6.7%%)

GROUPE CLARINS

Neuilly-sur-Seine, France

2020 beauty sales:

$1.71 billion (EST.)

€1.5 billion (EST.)

-25% vs. 2019 (EST.)

Main brands:

Clarins (skin care, makeup), Clarins Men (men’s skin care). My Blend by Dr. Olivier Courtin.

Key financials (EST.):

Like-for-like and constant currency sales decline: -10%

Product category breakdown: Skin care: 91%; Makeup: 9%; Fragrance N/A.

Change by category: Skin care: -7%; Makeup: -27%.

Change by region: Asia: +9%; Europe: -12%: the Americas: -21%; the Middle East and Africa: -14%;
Travel retail: -23%.

Domestic sales: 79% progression in largest international markets: Mainland China: +29%; Travel retail: -23%; E-commerce: +83%.

POLA ORBIS HOLDINGS

Tokyo

2020 beauty sales:

$1.61 billion

¥171.66 billion

-20.1% vs. 2019

Main brands:

Pola (skin care, makeup), Orbis (skin care, makeup), Jurlique, H20 Plus, Three, Decencia, Amplitude, Itrim, Fiveism x Three.

Key financials:

Total net sales: ¥176.31 billion, -19.8%

Beauty Care operating income: ¥12.97 billion, -57.1%

RODAN + FIELDS

San Francisco

2020 beauty sales:

$1.6 billion (EST.)

-8.6% vs. 2019 (EST.)

Main brands:

Recharge, Redefine, Reverse, Unblemish, Soothe, Enhancements, Essentials, Spotless, Dermacosmetics (skin care).

Key financials: N/A

PUIG

Barcelona/Paris

2020 beauty sales:

$1.59 billion (EST.)

€1.39 billion (EST.)

-23.4% vs. 2019 (EST.)

Main brands:

Paco Rabanne, Carolina Herrera, Jean Paul Gaultier, Nina Ricci, Charlotte Tilbury, Penhaligon’s, L’Artisan Parfumeur, Christian Louboutin, Comme des Garçons Parfums, Antonio Banderas, Shakira, United Colors of Benetton, Adolfo Dominguez.

Key financials: Main markets: The U.K., Spain and the U.S.

AMWAY

Ada, Mich.

2020 beauty sales:

$1.57 billion

-5.8% vs. 2019

Main brands:

Amway: Artistry, Artistry Studio, Artistry Men (skin care, makeup), Body Series/G&H (body care), Satinique, Ertia (hair care).

Key financials:

Total sales: $8.5 billion, +1.2%

Beauty sales: 13% of revenue

Top markets: China, the U.S., Japan.

GROUPE PIERRE FABRE

Paris

2020 beauty sales:

$1.28 billion

€1.12 billion

-12.2% vs. 2019

Main brands:

Pierre Fabre Dermo-Cosmétique: Eau Thermale Avène, A-Derma, Darrow, Glytone (skin and body care). Ducray, Klorane (skin, hair and body care). René Furterer (hair care).

Key financials:

Sales decline not including divestments: -11.7%

Organic sales decline: -9.6%

International sales: 71% of beauty revenues (up from 69%)

Group sales: €2.27 billion, -1.3%

GRUPO BOTICÁRIO

Curitiba, Brazil

2020 beauty sales:

$1.22 billion (EST.)

R6.22 billion (EST.)

+6.2% vs. 2019 (EST.)

Main brands:

O Boticário: Nativa Spa (body and hair care), Make B., Intense (makeup), Floretta, Egeo Dolce, Malbec (fragrance). The Beauty Box (hair, bath and body care). Eume (hair care). Eudora, Quem Disse, Berenice, Vult.

Key financials: N/A

GALDERMA

Lausanne, Switzerland

2020 beauty sales:

$1.19 billion (EST.)

SFR1.12 billion (EST.)

Flat vs. 2019 (EST.)

Main brands:

Cetaphil (skin care). Proactiv (majority stake).

Key financials: N/A

NU SKIN ENTERPRISES

Provo, Utah

2020 beauty sales:

$1.14 billion (EST.)

+4.8% vs. 2019 (EST.)

Main brands:

Nu Skin, AgeLOC, Nutricentials, Epoch, Tru Face, Nu Colour.

Key financials:

Personal care sales including devices: $1.49 billion, +4.8%

Total company sales: $2.58 billion, +7%

Sales in China: $625.5 million, -13%

Sales in the Americas and Pacific: $511.9 million, +47%

Sales in South Korea: $326.5 million, -1%

ORIFLAME HOLDING AG

Schaffausen, Switzerland

2020 beauty sales:

$1.04 billion (EST.)

€914 million (EST.)

-11.2% vs. 2019 (EST.)

Main brands:

Oriflame (makeup, skin, body, hair and personal care, fragrance).

Key financials:

Total company sales (including wellness and accessories): €1.16 billion, -8%

Constant-currency sales: -2%

Local currency sales progression by region: Latin America: -6%; CIS: +10%; Europe: +1%; Turkey & Africa: +6%; Asia: -14%.

Adjusted EBITDA: €178.6 million, -1.2%

EUROITALIA

Cavenago di Brianza, Italy

2020 BEAUTY SALES:

$945.7 million (EST.)

€828.5 million (EST.)

-17% vs. 2019 (EST.)

Main brands:

Versace, Moschino, Missoni, Dsquared2, Reporter, Atkinsons 1799 (fragrance). Naj Oleari Beauty (makeup), I Coloniali (body and skin care).

Key financials:

Exports: 94% of sales

LUSH

Poole, U.K.

2020 beauty sales:

$924.9 million (EST.)

£720.7 million (EST.)

-22.5% vs. 2019 (EST.)

Main brands:

Lush Fresh Handmade Cosmetics (bath, body, hair and skin care, makeup, fragrance).

Key financials (EST.):

Constant-currency sales decline: -23%

Top markets:

U.K.: £119.9 million, -21.6%

Japan: £61.3 million, -18.3%

North America: £262.4 million, -23.8%

SISLEY

Paris

2020 beauty sales:

$918.8 million

€805 million

-6.5% vs. 2019

Main brands:

Sisley (fragrance, skin care, makeup). Hair Rituel by Sisley (hair care).

Key financials: N/A

BELCORP

Lima, Peru

2020 beauty sales:

$880 million (EST.)

-24.8% vs. 2019 (EST.)

Main brands:

Ésika, L’Bel, Cyzone (fragrance, makeup, skin, body and hair care).

Key financials:

Main markets: Peru, Colombia and Mexico: 52% of sales

Breakdown by brand: Ésika: 48%; Cyzone: 30%; L´Bel: 22%.

JOHN PAUL MITCHELL SYSTEMS

Los Angeles

2020 beauty sales:

$875 million (EST.)

+2.9% vs. 2019 (EST.)

Main brands:

Paul Mitchell, Paul Mitchell Clean Beauty, Awapuhi Wild Ginger, MarulaOil, Neuro, Neon (hair care). Tea Tree (hair and body care). MITCH (men’s grooming).

Key financials: N/A

ALCORA CORP.

Miami

2020 beauty sales:

$788.4 million (EST).

+103.3% vs. 2019 (EST.)

Main brands:

Monat (hair care, skin care). Hairgurt (hair care). L’Eudine (hair and body care, fragrance), Pardon My Pretty (body care).

Key financials:

U.S.: 85% of sales

Canada: 10% of sales

Europe: 5% of sales

SHANGHAI JAHWA UNITED CO. LTD.

Shanghai

2020 beauty sales:

$763.9 million (EST.)

CNY5.27 billion (EST.)

-7.4% vs. 2019 (EST.)

Main brands:

Shanghai Vive (skin care, fragrance), Maxam (skin, body and hair care), Liushen (skin, body and hair care, fragrance), GF (men’s skin and hair care, fragrance), Herborist (skin care, makeup, men’s skin care), Dr. Yu (skin care), Fresh Herb (skin care, makeup), Giving (baby care).

Key financials:

Total company revenues: CNY7.03 billion, -7.4%

Net profit: CNY430 million, -22.8%

NEORA

Farmers Branch, Texas

2020 beauty sales:

$760 million (EST.)

+10.9% vs. 2019 (EST.)

Main brands:

ProLuxe Hair Care System and NeoraFit Set, Age IQ Night & Day Cream, Double-Cleansing Botanical Face Wash, Age-Defying Eye Serum, Illumaboost Brightening & Shield, Complexion Clearing Acne Treatment (skin and
body care).

Key financials:

Largest markets: U.S., Canada, Mexico

YATSEN HOLDING LTD.

Guangzhou, China

2020 beauty sales:

$758.1 million (EST.)

CNY5.23 billion (EST.)

+72.6% vs. 2019 (EST.)

Main brands:

Perfect Diary, Little Ondine (makeup), Abby’s Choice, Galénic (skin care).

Key financials:

Gross profit: CNY3.36 billion, +74.5%

Net loss: CNY2.69 billion, compared with net income of CNY75.4 million in 2019

MARICO LTD.

Mumbai

2020 beauty sales:

$716.9 million (EST.)

53.07 billion rupees (EST.)

-2.4% vs. 2019 (EST.)

Main brands:

Parachute, Livon, NiharNaturals, Hair & Care, Caivil, Black Chic, True Roots (hair care and color). Parachute Advansed (hair and body care). Set Wet (deodorants and hair styling). Fiancée, Hair Code, IsoPlus (hair care and styling). Code 10, X-Men (men’s grooming). Kamillen, Jamilla (hair styling), Karazel, Rivage, Grace, Kaya Youth O2 (skin care), Beardo (men’s grooming).

Key financials:

Total company sales (nine months to December 2020): 60.36 billion rupees, +4%.

Main international markets: Bangladesh (49% of international business), South East Asia (26%), MENA (12%),South Africa (7%).

GODREJ CONSUMER PRODUCTS LTD.

Mumbai

2020 beauty sales:

$707.6 million (EST.)

52.38 billion rupees (EST.)

+0.4% vs. 2019 (EST.)

Main brands:

Godrej Expert, Godrej Nupur, NYU, BBlunt, Godrej Professional, Motions, Profectiv Mega Growth, African Pride, Just for Me, TCB, Darling, Valon, Illicit, Issue, 919, Renew, Inecto, Touch of Silver, Roby (hair care), Millefiori, Cinthol, Godrej No 1, Villeneuve, Tura (skin care). Pamela Grant (makeup).

Key financials:

Biggest markets: India (56% of sales), Africa and the U.S. (23%), Indonesia (17%).

DABUR INDIA LTD.

Ghaziabad, India

2020 beauty sales:

$680.8 million (EST.)

50.40 billion rupees (EST.)

-7.5% vs. 2019 (EST.)

Main brands:

Dabur Amla, Dabur Almond, Vatika ORS, Long & Lasting (hair care). Fem, Gulabari, OxyLife, New Era, DermoViva, Vatika (skin care). Hobby (skin, hair and bath care; shave preparations).

Key financials:

International sales: Approximately 60% of personal care revenues.

EDGEWELL PERSONAL CARE

Shelton, Conn.

2020 beauty sales:

$629.9 million (EST.)

+3.2% vs. 2019 (EST.)

Main brands:

Banana Boat, Hawaiian Tropic, Bulldog, Black Jack (sun and skin care), Skintimate, Edge, Schick (shave preparations), Cremo (grooming).

Key financials
(FY Ended Sept. 30, 2020):

Company sales:
$1.94 billion, -9.4%

Sun Care:
$283.3 million, -13.8%

Shave Prep:
$139 million, -1.9%

Skin Care:
$178.7 million, +36.3%

MANDOM CORP.

Osaka, Japan

2020 beauty sales:

$627.6 million (EST.)

¥66.99 billion (EST.)

-16.9% vs. 2019 (EST.)

Main brands:

Men’s grooming: Gatsby (skin, body and hair care; hair color, fragrance, deodorant), Lúcido (skin, body, hair and scalp care; deodorant), Mandom (skin, body and hair care; fragrance), Tancho (hair care and color), Spalding (deodorant, fragrance, body care).

Women’s cosmetics: Pixy (skin care, makeup), Bifesta, Barrier Repair (skin care). Lúcido-L (hair care and color), Baby Veil (hair care), Lovillea (fragrance), Miratone (hair color), Mandom (skin, body and hair care), Johnny Andrean, Style Up (hair care), Simplity (deodorant), Pucelle (fragrance, body care).

Key financials (Nine months to December 2020):

Net sales: ¥47.94 billion, -23.6%

Operating income: ¥813 million, -85.9%

Sales in Japan: ¥29.81 billion, -16.6%

Sales in Indonesia: ¥8.81 billion, -35.1%

Sales in other markets: ¥9.32 billion, -30.5%

Biggest markets: Japan, Indonesia and China.

NAOS

Aix-en-Provence, France

2020 beauty sales:

$613.3 million (EST.)

€537.3 million (EST.)

-13.9% vs. 2019 (EST.)

Main brands:

Laboratoire Bioderma: ABC Derm, Atoderm, Cicabio, Crealine/Sensibio, Hydrabio, Matricium, Sebium, Secure, Pigmentbio (skin care), Node (hair care), Photoderm (sun care).

Institut Esthederm: Age Prevention, Age Correction, Body Care, Cabine Exclusive, Cellular Water Range, Cleansing Osmoclean, Intensive Molecular Care, Sun Care, White (skin care).

Etat Pur: Actifs Pur, Cosmétiques Biomimétiques (skin, sun and body care).

Key financials:

Laboratoire Bioderma: €494.4 million, -14%

Institut Esthederm :
€42.5 million, -18%

International Markets: 76.4% of sales

Key markets: France, China and South Korea accounted for an estimated 45.8% of global sales.

FANCL CORP.

Yokohama, Japan

2020 beauty sales:

$612.6 million (EST.)

¥65.39 billion (EST.)

-14.1% vs. 2019 (EST.)

Main brands:

Fancl Cosmetics, Attenir Cosmetics (skin care, makeup), Boscia (skin care).

Key financials (Nine months to Dec. 31, 2020):

Cosmetics sales: ¥48.13 billion, -17.9%

Fancl Cosmetics sales: ¥36.54 billion, -22.2%

Attenir Cosmetics sales: ¥9.32 billion, -4.4%

Boscia sales: ¥1.77 billion, +32.9%

Domestic online and catalogue sales: ¥24.72 billion, +10.5%

Domestic retail store sales: ¥12.37 billion, -47.5%

Domestic wholesale and others: ¥5.86 billion, -20.4%

Overseas sales: ¥5.18 billion, -3.1%

Cosmetics division operating profit: ¥5.47 billion, -45.3%

RITUALS COSMETICS ENTERPRISE B.V.

Amsterdam

2020 beauty sales:

$608.4 million (EST.)

€533 million (EST.)

Flat vs. 2019 (EST.)

Main brands:

Rituals (fragrance, home fragrance, skin, body and hair care, makeup).

Key financials: N/A

PDC WEllness & Personal Care Co.

Stamford, Conn.

2020 beauty sales:

$606 million (EST.)

+15% vs. 2019 (EST.)

Main brands: Dr Teal’s, Bodycology (wellness and bath), Cantu, Eylure (makeup), Body Fantasies, BOD Man (fragrance).

Key financials:

International sales: 20% of revenues

Largest markets: The U.S., U.K., Canada

Wellness and bath sales: $295 million, +35%

Personal care (formerly Beauty): $218 million, +9%

Fragrance: $92 million, -13%

JALA GROUP CO.

Shanghai

2020 beauty sales:

$605.9 million (EST.)

cny4.18 billion (EST.)

-9.1% vs. 2019 (EST.)

Main brands:

Chando, Maysu (skin care, makeup). Botanical Wisdom, Spring Summer, Biorrier (skin care). Como (makeup). Assassina (fragrance).

Key financials: N/A

INTERPARFUMS INC.

New York

2020 beauty sales:

$539 million

-24.5% vs. 2019

Main brands: Abercrombie & Fitch, Anna Sui, Bebe, Boucheron, Coach, Dunhill, Graff, Guess, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, Lanvin, MCM, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, S.T. Dupont, Van Cleef & Arpels.

Key financials:

Constant-currency sales decline: -25.6%

Operating Income: $70.1 million, -33%

Net Income: $38.2 million, -36.6%

Sales by brand:

Montblanc: $115 million, -27.2%

Coach: $93.4 million, -6.3%

Jimmy Choo: $85 million, -26.7%

Sales by key region:

North America: $193.5 million, -17.8%

Western Europe: $147.1 million, -20.7%

Asia: $79.7 million, -28.2%

BEAUTYCOUNTER

Santa Monica, Calif.

2020 beauty sales:

$526.56 million (EST.)

+20% vs. 2019 (EST.)

Main brands:

Beautycounter

Key financials: N/A

MARKWINS BEAUTY BRANDS

City of Industry, Calif.

2020 beauty sales:

$507.5 million (EST.)

-16.2% vs. 2019 (EST.)

Main brands: Wet ‘n’ Wild, Lip Smacker, Physicians Formula, Lorac, Black Radiance, The Color Workshop, The Color Institute, Bonne Bell, Pop.

Key financials: N/A

RECKITT BENCKISER GROUP

Berkshire, U.K.

2020 beauty sales:

$500.6 million (EST.)

£390.1 million (EST.)

+1.2% vs. 2019 (EST.)

Main brands:

E45, Clearasil (skin care), Veet (depilatories).

Key financials:

Total revenues:

£13.99 billion, +8.9% (+11.8% life-for-like)

Health division revenues: £4.89 billion, +9.6%.

PROYA COSMETICS CO. LTD.

Hangzhou, China

2020 beauty sales:

$498.7 million (EST.)

CNY3.44 billion (EST.)

+10% vs. 2019 (EST.)

Main brands:

Proya, Uzero, Anya, Yoya, Cats & Roses, Timage, Ins Baha.

Key financials:

Net sales for the nine months ended Sept. 30, 2020: CNY2.29 billion, +10.1%

Net profit for the nine months ended Sept. 30, 2020: CNY288.3 million, +21.1%

HOYU CO. LTD.

Nagoya, Japan

2020 beauty sales:

$487.2 million (EST.)

¥52 billion (EST.)

-7.1% vs. 2019 (EST.)

Main brands:

Bigen, Cielo, Beautylabo, Beauteen, Naturain, Promaster, Men’s Bigen
(hair color and care).

Key financials (FY ended Oct. 31, 2020):

Consolidated net sales: ¥52 billion, -7.1%

Consolidated operating income: ¥3.9 billion, -35%

NIPPON MENARD COSMETIC CO. LTD.

Nagoya, Japan

2020 beauty sales:

$475.9 million (EST.)

¥50.8 billion (EST.)

+1% vs. 2019 (EST.)

Main brands:

Authent (skin care, fragrance, body care), Embellir, Fairlucent (skin care, makeup), Illuneige, Lisciare, Colax, Herb Mask (skin care), Beauness (skin and body care), Jupier, TK (makeup, skin care), Crowa (hair care), Divum (skin care, makeup, in China), Reliever (skin care, in China).

Key financials:

Biggest markets: Japan, China and Vietnam

COSNOVA

Sulzbach, Germany

2020 beauty sales:

$460 million (EST.)

€403 million (EST.)

-9% vs. 2019 (EST.)

Main brands:

Essence, Catrice (makeup).

Key financials:

International sales: 61% of business

Biggest non-German-speaking markets (in alphabetical order): Italy, the Netherlands, North America, Russia, South Africa, Spain.

YANBAL INTERNATIONAL

Lima, Peru

2020 beauty sales:

$456 million (EST.)

-20% vs. 2019 (EST.)

Main brands:

Yanbal, Unique (makeup, skin, body, sun and hair care, fragrance).

Key financials: N/A

GUTHY-RENKER

El Segundo, Calif.

2020 beauty sales:

$446 million (EST.)

-2% vs. 2019 (EST.)

Main brands:

Crépe Erase, Meaningful Beauty, Westmore, Specific Beauty, Dermaflash, It Cosmetics (repeat sales to existing customers), Mally Beauty, Sea Calm Skin, JLo Beauty.

Key financials: N/A

DECIEM

Toronto

2020 beauty sales:

$438.8 million (EST.)

C588 million (EST.)

+92% vs. 2019 (EST.)

Main brands:

The Ordinary, NIOD, Hylamide, The Chemistry Brand, Abnomaly, Loopha, HIF.

Key financials:

U.S. sales: C215 million, +165%

U.K.: C114 million, +58%

Canada: C61 million, +67%

Australia: C37 million, +77%

Other: C161 million, +87%

LION CORP.

Tokyo

2020 beauty sales:

$438.3 million (EST.)

¥46.78 billion (EST.)

+33.9% vs. 2019 (EST.)

Main brands:

Kirei Kirei (hand soap), Ban (deodorant), Pro Tec (men’s hair and body care), Hadakara, Shokubutsu-Monogatari (body care), Soft in 1 (hair care).

Key financials:

Total company net sales: ¥355.35 billion, +2.3%

Total operating profit: ¥44.07 billion, +47.7%

Beauty Care sales in Japan: ¥31.48 billion, +40.9%

KIKO SPA

Bergamo, Italy

2020 beauty sales:

$420 million (EST.)

€368 million (EST.)

-37.4% vs. 2019 (EST.)

Main brands:

Kiko Milano (makeup).

Key financials:

Biggest markets: Italy, France and Spain (65% of total sales)

Domestic sales: 31% of total

FORMA BRANDS

San Francisco

2020 beauty sales:

$400 million (EST.)

-9% vs. 2019 (EST.)

Main brands:

Bad Habit (skin care), Lipstick Queen, Morphe, Morphe 2 (makeup). Playa (hair care).

Key financials: N/A

WELEDA

Arlesheim, Switzerland

2020 beauty sales:

$380.1 million

€333 million

+1.9% vs. 2019

Main brands:

Weleda (natural and organic skin and body care, men’s care, hair care, mother and baby care, lip balms, personal care).

Key financials:

Biggest markets: Germany, France and Switzerland

Fastest-growing markets: Russia, Ukraine, South Korea and North America

COMBE INC.

White Plains, N.Y.

2020 beauty sales:

$380 million (EST.)

+1.3% vs. 2019 (EST.)

Main brands:

Just for Men, Control GX, Virtue Labs (hair care and color), Aqua Velva, Williams Lectric Shave, Brylcreem (men’s grooming, in North America), Vagisil (intimate skin care).

Key financials: N/A

EMBELLEZE GROUP

Rio de Janeiro, Brazil

2020 beauty sales:

$377.9 million (EST.)

R1.93 billion (EST.)

+41.9% vs. 2019 (EST.)

Main brands:

Novex, Amacihair, Hairlife, Lisahair, SempreBella (hair care and treatment). Natucor, Maxton (hair color), Nutrisalon (professional hair care). BioSalut (personal care).

Key financials:

International sales: 10% of revenues

Domestic sales: +20%

MANZANITA CAPITAL

London

2020 beauty sales:

$371 million (EST.)

+14% vs. 2019 (EST.)

Main brands:

Byredo, Diptyque (fragrance); Kevyn Aucoin (makeup); Eve Lom (skin care); Malin + Goetz (skin, body and hair care, fragrance); Susanne Kaufmann (skin, body and hair care).

Key financials:

Like-for-like sales growth: +18%

NOEVIR HOLDINGS

Kobe/Tokyo

2020 beauty sales:

$350.4 million (EST.)

¥37.4 billion (EST.)

-16.4% vs. 2019 (EST.)

Main brands:
Noevir Co.: Speciale, 505, 99Plus (skin care, makeup). Tokiwa Pharmaceutical Co.: Nameraka Honpo (skin care), Excel (makeup), Nov (skin care, makeup).

Key financials: (FY ended Sept. 30, 2020):

Cosmetics sales: ¥38.74 billion, -14.2%

Cosmetics operating income: ¥9.5 billion, -27.9%

Domestic business: more than 90 percent of sales

Biggest international markets: Taiwan and China

BURT’S BEES

Durham, N.C.

2020 beauty sales:

$345 million (EST.)

-8.5% vs. 2019 (EST.)

Main brands:

Burt’s Bees (beauty, skin, lip, hair, men’s and baby care)

Key financials:

Domestic retail sales: $328 million, -13% (based on IRI POS data)

JAFRA COSMETICS INTERNATIONAL

Westlake Village, Calif.

2020 beauty sales:

$336 million (EST.)

-14.6% vs. 2019 (EST.)

Main brands:
Jafra (fragrance, skin care, color cosmetics, toiletries).

Key financials:

Biggest market: Mexico

PZ CUSSONS

London

2020 beauty sales:

$335 million (EST.)

£261 million (EST.)

+1.2% vs. 2019 (EST.)

Main brands:
St. Tropez (skin and body care), The Sanctuary Spa, Imperial Leather (bath, body and skin care), Carex (hygiene, hand care).

Key financials: (Six months to Nov. 30, 2020):

Total company sales from continuing operations: £312.9 million, +14.6%.

Largest markets: The U.K., U.S. and Nigeria

MILBON CO. LTD.

Tokyo

2020 beauty sales:

$334.8 million

¥35.73 billion

-1.5% vs. 2019

Main brands:
Milbon, Aujua, Villa Lodola, Ordeve, Sophistone, NeoLiscio (hair care, color, styling and perming), Imprea (skin care).

Key financials:

Domestic sales: ¥29.88 billion, -1.7%

International sales: ¥5.84 billion, -0.2%

Top international markets: South Korea (sales ¥2.54 billion, +9%, or +13.2% in local currency); China (sales ¥1.53 billion, +2.7%, or +5.2% in local currency).

DHC CORP.

Tokyo

2020 beauty sales:

$333.9 million (EST.)

¥35.64 billion (EST.)

-25.2% vs. 2019 (EST.)

Main brands:
DHC (skin care, makeup, hair care, men’s, body and baby care, fragrance), Olive Sube Sube, Medicated Q,
Super Collagen, Q10.

Key financials:

Beauty sales: ¥35.64 billion, -25.2%

Domestic sales: ¥30.59 billion, -25.54% (86% of beauty revenues)

International sales: ¥5.05 billion, -23.11% (14% of beauty revenues)

Main markets: Japan, the rest of Asia, U.S.

OLAPLEX

New York

2020 beauty sales:

$309 million (EST.)

+50% vs. 2019 (EST.)

Main brands:
Olaplex (hair care).

Key financials:

D-to-c sales: +300%

U.S.: 60% of sales

Largest international markets: The U.K. and Germany

NUXE GROUPE

Boulogne-Billancourt, France

2020 beauty sales:

$308.2 million (EST.)

€270 million (EST.)

-5.9% vs. 2019 (EST.)

Main brands:
Nuxe, Resultime (skin and body care, fragrance).

Key financials:

France: Approx. 50% of sales (EST.)

Biggest international markets: Italy and Spain

Growth in China: +180%

Growth in Asia (including China): +80%

HERMÈS INTERNATIONAL

Paris

2020 beauty sales:

$300.4 million

€263.2 million

-19.3% vs. 2019

Main brands:
Hermès Parfums: Terre d’Hermès, Eau des Merveilles, Collection Les Jardins, Twilly d’Hermès, Les Colognes Hermès, Eau d’orange verte, Jour d’Hermès, Collection Hermessence, Voyage d’Hermès, 24 Faubourg, Galop d’Hermès, Kelly Calèche, Calèche, Rouge Hermès, Hiris, Amazone, Bel Ami, Equipage, Rocabar, Eau d’Hermès (fragrance). Le Bain (toiletries), Le Parfum de la Maison (home fragrances). Rouge Hermès (makeup).

Key financials:

Constant-currency sales decline for fragrance and beauty: -19%

Total company sales: €6.39 billion, -7.2% (-6% at constant currency)

E.L.F. BEAUTY

Oakland, Calif.

2020 beauty sales:

$300 million (EST.)

+9.4% vs. 2019 (EST.)

Main brands
E.l.f. Cosmetics (makeup, skin care, brushes, tools and devices), W3ll People (makeup, skin care), Keys Soulcare (Skin care, home fragrance)

Key financials (Nine months to Dec. 31, 2020):

Net sales: $225.4 million, +8%

Adjusted EBITDA: $48.2 million, -5%

Net income: $6.3 million, -65.4%

U.S.: 89% of sales

L CATTERTON

Greenwich, Conn.

2020 beauty sales:

$299.4 million (EST.)

+17% vs. 2019 (EST.)

Main brands:
Bliss, CoverFX, Etvos, Jou, La Thérapie, Laboratoire Remède, StriVectin, Tula.

Key financials:

Organic growth (excluding the Elemis business, which was sold in March 2019): +43%

SODALIS GROUP

Lodi Vecchio, Italy

2020 beauty sales:

$298.7 million (EST.)

€261.7 million (EST.)

-6% vs. 2019 (EST.)

Main brands:
BioNike (skin care, body care, makeup). Lycia (skin care, deodorants). Leocrema, Dermolab (skin and sun care). Vitesse (face care). Tesori D’Oriente, Denim (body care, fragrances). Natural Honey (lotion). Noxzema, Depilzero, Strep (shaving/depilation). Biopoint (hair care, skin care and sun care). Brelil, Wash & Go (hair care). Deborah, Debby, Rouge Baiser (makeup).

Key financials:

Italy: €191.4 million, -7%

International: €70.3 million, -2%

CAUDALIE

Paris

2020 beauty sales:

$296.8 million (EST.)

€260 million (EST.)

Flat vs. 2019 (EST.)

Main brands:
Resveratrol-Lift, Vinoperfect, Premier Cru, Vinosource, Eau de Beauté, Vinopure, Vin[Activ], Teint Divin (skin care). Vinosculpt, Divine Body (body care). Eaux Fraîches, Parfum Divin (fragrance).

Key financials:

Biggest markets: France, the U.S., China, Italy, Germany.

E-commerce sales growth: +120%

MEIYUME

Hong Kong

2020 beauty sales:

$285.7 million (EST.)

-7.3% vs. 2019 (EST.)

Main brands:
Collection Cosmetics (makeup). Finesse, Aqua Net, Harmony, Vosene, Bristows (hair care). Yardley of London (in Germany, Austria and the Americas), CD (bath and body). Lypsyl (lip care).Witch, Handsan (skin care). Triple Dry (deodorant). Wrights, Cidal, Simple (soap, in the U.K., Ireland and Channel islands). Brisk (beard oil). The Beauty Mask Co. (facial sheet masks).

Key financials: N/A

DR. WOLFF GROUP

Bielefeld, Germany

2020 beauty sales:

$274.9 million (EST.)

€240.8 million (EST.)

+8% vs. 2019 (EST.)

Main brands:
Dr. Kurt Wolff: Alpecin, Plantur 39, Plantur 21 (hair care). Alcina (hair and skin care; makeup). Dr. August Wolff: Linola (skin care) Vagisan (intimate hygiene).

Key financials:

Preliminary group sales: €340 million, +8.5% (EST.)

FABERLIC

Moscow

2020 beauty sales:

$259.8 million

18.7 billion rubles

+17.6% vs. 2019

Main brands:
Global Oxygen, Oxiology, OxyCarboxy, Oceanum, Prolixir, Garderica, Renovage, Beauty Lab, Biomica, BioGlow, Verbena, Iseul, Vario, Bloom (skin care). Faberlic Expert, L.Ove (skin and body care, hair care). Beauty Café (body care, fragrance). Faberlic by Valentin Yudashkin, Renata, Viking (fragrance). Glam Team, Secret Story, Sky Line (makeup). Salon Care, Arisu, Blonde Icon (hair care).

Key financials:

Domestic sales: 43% of revenues

Key international markets: Kazakhstan, Uzbekistan, Azerbaijan, Belarus, Poland.

ABLE C&C

Seoul, South Korea

2020 beauty sales:

$258.1 million (EST.)

KRW304.42 billion (EST.)

-27.9% vs. 2019 (EST.)

Main brands:
Missha, A’Pieu, Swiss Pure, Mefactory, TR (skin, bath and body care; makeup).

Key financials:

Operating loss: KRW65.96 billion, versus an operating profit of KRW1.8 billion in 2019.

Net loss: KRW87.35 billion, versus 9.61 billion in 2019 (-809.1%)

GUANGDONG MARUBI BIOTECHNOLOGY CO.

Guangdong, China

2020 beauty sales:

$256.6 million (EST.)

CNY1.77 billion (EST.)

-1.9% vs. 2019 (EST.)

Main brands:
Marubi, Haruki (skin care). Passional Lover (makeup).

Key financials: N/A

HUDA BEAUTY

Dubai, U.A.E.

2020 beauty sales:

$250 million (EST).

Flat vs. 2019 (EST).

Main brands:
Huda Beauty (makeup), Kayali (fragrance), Wishful (skin care).

Key financials: N/A

EMAMI LTD.

Kolkata, India

2020 beauty sales:

$244.4 million (EST.)

18.09 billion rupees (EST.)

-12.2% vs. 2019 (EST.)

Main brands:
Boroplus, Navratna, Vasocare, Emami Golden Beauty Talc, Malai Kesar Cold Cream (skin care), Fair & Handsome (men’s skin care), Kesh King, Emami 7 Oils in One, Creme 21 (hair care), HE (deodorant)

Key financials:

Domestic sales: 84% of business (EST.)

International sales: South Asian Association for Regional Cooperation (42%), Middle East, North Africa and Pakistan (34%), Commonwealth of Independent States (12%), Africa (7%), Others (5%)

TUPPERWARE BRANDS CORP.

Orlando, Fla.

2020 beauty sales:

$233.9 million

-5.7% vs. 2019

Main brands:
Avroy Shlain, Fuller Cosmetics, NaturCare, Nutrimetics, Nuvo Cosmetics (makeup, skin care, fragrance).

Key financials:

Total net sales: $1.74 billion, -4.4%

Operating income from beauty: $15.4 million (prior-year number unavailable)

PAULA’S CHOICE

Seattle

2020 beauty sales:

$220 million (EST.)

+83% vs. 2019 (EST.)

Main brands:
Paula’s Choice

Key financials: N/A

LUXURY BRAND PARTNERS

Miami

2020 beauty sales:

$210 million (EST.)

+3% vs. 2019 (EST.)

Main brands:
R+Co, R+Co Bleu, IGK, V76 by Vaughn, In Common (hair care). Smith & Cult (makeup, nails). One/Size (makeup). Elaluz (makeup, skin care).

Key financials: N/A

MÄURER & WIRTZ

Stolberg, Germany

2020 beauty sales:

$201 million (EST.)

€176.1 million (EST.)

-14.1% vs. 2019 (EST.)

Main brands:
Baldessarini, 4711 Original Eau de Cologne, 4711 Acqua Colonia, 4711 Remix Cologne, Tabac, S. Oliver, Betty Barclay, Otto Kern, Tosca, Sir Irisch Moos, Nonchalance, Sophia Thiel.

Key financials:

International sales: 35% of revenues (stable year-on-year).

ANASTASIA BEVERLY HILLS

Los Angeles

2020 beauty sales:

$200 million (EST.)

-33% vs. 2019 (EST.)

Main brands:
Anastasia Beverly Hills (makeup).

Key financials: N/A

LABORATOIRE NATIVE

Paris

2020 beauty sales:

$196.3 million (EST.)

€172 million (EST.)

N/A vs. 2019

Main brands:
Phyto (hair care). Lierac, Jowaé (skin care), Roger & Gallet (fragrance and body care).

Key financials: N/A

CARTIER

Paris

2020 beauty sales:

$194 million (EST.)

€170 million (EST.)

-19% vs. 2019 (EST.)

Main brands:

Cartier Carat, L’Envol de Cartier, La Panthère de Cartier, Pasha de Cartier, Baiser Volé, Déclaration, Eau de Cartier, Must de Cartier, Santos de Cartier, Les Heures de Parfum, Les Heures Voyageuses, Les Epures de Parfum (fragrance).

Key financials: N/A

LABORATOIRES EXPANSCIENCE

La Défense, France

2020 beauty sales:

$191 million (EST.)

€167.3 million (EST.)

+1% vs. 2019 (EST.)

Main brands:
Mustela, Babo Botanicals (infant skin care).

Key financials:

Constant-currency sales growth for beauty: +2%

Total company sales: €250.4 million, -6.2%

International sales: +3%, 73.1% of total revenues

100

CLIO COSMETICS CO. LTD.

Seoul, South Korea

2020 beauty sales:

$185 million (EST.)

KRW218.2 billion (EST.)

-12.8% vs. 2019 (EST.)

Main brands:
Clio Professional, Peripera (makeup), Goodal, Dermatory (skin care), Healing Bird (hair and body care).

Key financials:

Operating profit: KRW6.33 billion, -66%

Net income: KRW9.66 billion, +228.2%

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