L’Oréal said it has signed an agreement to acquire Skinbetter Science, a physician-dispensed, U.S.-based skin care brand.
The global skin care market is expected generate sales of $131 billion this year, according to Future Market Insights, which projects the segment to develop rapidly, with 8.1 percent compound annual growth during the 2022-2032 period, to reach $230.21 billion.
Skinbetter Science products have active ingredients with antiaging, moisturizing, cleansing, exfoliating, skin-peeling and sun-protection benefits. They are sold primarily through a network of dermatologists, plastic surgeons and medical aesthetic practices by a medical sales team. The company’s management will stay on, and Skinbetter Science is to be integrated into L’Oréal under Christina Fair, president of the Active Cosmetics Division at L’Oréal USA.
“Skinbetter Science is a perfect complement to the Active Cosmetics Division’s brand portfolio,” Myriam Cohen-Welgryn, worldwide president of L’Oréal’s Active Cosmetics Division, said in a statement released Friday morning. “It will contribute greatly to the L’Oréal Active Cosmetics Division’s longstanding mission to pioneer health and beauty with advanced science-based skin care innovations. I am confident this high-growth U.S. brand has great international potential.
In the first six months of 2022, the Active Cosmetics Division’s sales reached 2.54 billion euros, representing gains of 28 percent in reported terms and 20.9 percent in like-for-like terms. L’Oréal said that in the period, the division grew much faster than the dermocosmetics market. The company touted a “remarkable” performance in North America, Europe and the South Pacific, Middle East, North Africa, Sub-Saharan Africa, or SAPMENA-SSA, zone. CeraVe is a prime example. The company acquired the derm-created, U.S.-based brand in 2017. At the time, CeraVe generated estimated yearly revenues of about $140 million. Today, its sales have surpassed the $1 billion threshold.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive interrogation video shows detectives confront Sherri Papini about 2016 kidnapping hoaxVideo obtained exclusively by ABC News shows how detectives exposed the lies of Sherri Papini, the California woman sentenced to prison for faking her own kidnaping in 2016.
Read more »
'Incredibly dangerous': Philadelphia hitman admits to 6 deadly shootings dating back to 2016A Philadelphia man will spend the rest of his life behind bars after prosecutors say he admitted to carrying out six murders as a hitman, four of which were at the bidding of a drug trafficker.
Read more »
TikTok's Latest 'Nostalgic' Beauty Trend Is 2016 MakeupBig brows are back, baby!
Read more »
$100,000 reward in 2016 San Francisco cold case murder of homeless coupleCold case investigators increased the reward to $100,000 for information leading to the arrest of the gunman who fatally shot a homeless couple in 2016 as they slept inside a wooden box they used as living quarters on the street.
Read more »
Cancer deaths in US declined by 2% every year since 2016, report saysDeaths from cancer have decreased by 2.3% every year between 2016 and 2019, according to a new report.
Read more »
Used 2016 Lagonda Taraf for sale2016 LAGONDA TARAF The Lagonda Taraf, introduced at the Geneva International Motor Show in 2015, a super saloon firmly aimed at the Ultra Luxury market and undoubtedly for extremely limited production. When launched the Taraf carried a price tag of a $1 million excluding taxes and was by far most expensive saloon available, in the day. Styled by Aston Martin’s renowned Gaydon studios, under the guidance of design director Marek Reichman and hand-built, in a dedicated facility, previously given over to the creation of the One-77 hypercar, the quite spectacular Lagonda Taraf, manages to be both perfectly proportioned and sculpturally sophisticated, whilst simultaneously being both spectacular and yet, restrained. The unique bodywork of this elegant super limousine is formed from Carbon Fibre and Aluminium. Constructed on Aston Martins highly adaptable all aluminium VH chassis architecture, configured for the Lagonda Taraf’s extensive wheelbase, creating a spacious and sumptuous rear compartment, capable of carrying its occupant’s in great comfort. Powered by the legendary Aston Martin V12 engine, producing a mighty 540 BHP, transmitted through Aston Martin’s unique 8 speed TT3 automatic transaxle gearbox, the specification combines to provide a top speed in excess of 190 mph with 0-60 mph arriving in 4.4 seconds. Beautifully finished in Onyx Black metallic paintwork with a Winter Wheat and Obsidian Black Caithness hide Interior, the luxurious and comprehensive equipment of the Taraf, is further complemented by a Bang & Olufsen BeoSound 1,000W audio system and a refrigerated rear stowage compartment, whilst distinctive Tamo Ash wood veneered door and facia finishers and twin rear entertainment screens, complete the refined interior specifications. Built in 2016, in Left Hand Drive configuration, the Lagonda Taraf is in all probability, the last Lagonda model to be built and powered by the internal combustion engine and is therefore something of a landmark in the long a
Read more »