Coty sells 9 per cent stake in Wella to KKR

Coty has reportedly announced that it has signed a definitive agreement to sell an approximate 9 per cent stake in Wella to KKR in exchange for roughly half of KKR’s remaining convertible shares in Coty. Upon completion of transaction, KKR will reduce its ownership to the equivalent of about 45 million Coty Class A shares, representing an estimated 5.2 percent stake. The strategy for unlocking value expansion in Coty was anchored on three key objectives: Accelerating their sales and profit growth, deleveraging their balance sheet, and simplifying their capital structure. With freed funds to drive growth and deleveraging, it would be yet another milestone for Coty in transforming into a beauty powerhouse. The value of Wella has increased significantly since it undertook its partial divestment in 2020 and KKR became their strategic partner in the Wella business.

Three new faces in Wella leadership team

Wella announced the appointment of three C-suite executives to its leadership team. Gretchen Koback Pursel has been named Global Chief People Officer, Virginie Costa joins as Global Chief Financial Officer and Hugh Dineen will take up the role of President of Global Brands and Global Chief Marketing Officer, all effective immediately. Pursel joins from Tiffany &Co, where she was Chief Human Resources Officer and is charged with leading Wella’s efforts to be an industry leader in diversity, equity and inclusion. Meanwhile, Dineen, has held senior roles at both Avon and Johnson & Johnson and until recently headed up the marketing team at MetLife as CMO. Costa has more than 25 years of financial management experience to her name including stints as Chief Financial and Operations Officer for Burberry Americas and CFO and COO of Hermes in France and Americas. Most recently she served as CFO at Godiva.

Henkel to cut ribbon of its first House of Schwarzkopf in Berlin

Henkel has announced the opening of its first House of Schwarzkopf in Berlin. The store and salon are in a prime location on Rosenthaler Staße in Berlin’s Mitte borough and was opened to the public on October 2. The store will be selling the brand’s professional product range, seasonal limited editions and also be the exclusive stockist of the new House of Schwarzkopf brand. Premium hairdressing services will also be offered at The Salon above, operated by Hauke Schmidt. Appointments can be booked via the accompanying virtual House of Schwarzkopf, which went live on September 30. Located in the heart of Berlin, where Hans Schwarzkopf laid the foundation stone, its new home now combines more than 120 years of expertise in hair with state-of-the-art technology, creating a place where the brand and its values, promises, products and history are not only represented but can be truly experienced.

ROLFS Global CEO, Francis Tesmer, introduces Lead, the firstever college degree for beauty professionals

ROLFS Global CEO Francis Tesmer, in collaboration with Mesa Community College (MCC), Arizona State University (ASU) and L’Oréal USA Professional Products Division (PPD), has pioneered the creation and development of Lead, a revolutionary higher-education program that will transform beauty professionals into industry leaders. The $500 billion beauty industry is reinventing itself, and it demands more leaders embracing innovation and entrepreneurial spirit than ever before. In partnership with MCC, students around the globe can now earn the first ever Associate in Applied Science (AAS) in beauty and wellness, and then apply to ASU to pursue a Bachelor of Applied Science (BAS) in Health, Entrepreneurship and Innovation with an emphasis on personal care. Lead is the only degree programme specifically designed with the future of the beauty industry in mind – shaping the next generation of beauty professionals. Tesmer enlisted L'Oréal USA PPD will provide additional opportunities for Lead students.

WWP Beauty wins multiple awards in the prestigious beauty packaging design competitions

WWP Beauty, a leading full-service supplier to the global beauty industry, was recently recognised for four of its sustainable stock packages during the 2021 Global Beauty & Wellness Awards and the 2021 Pentawards. Each of the packages represented a different category within the beauty space and showcased futurefocused, exemplary sustainable design. The 2021 Global Beauty & Wellness Awards recognises the outstanding performance of companies, products and services in the cosmetic, personal care, wellness, fitness and organic food industries. During this year’s instalment of the awards competition, WWP Beauty won the Best Packaging Makeup Product, Refill Revolution Multi-Use Face Stick; Best Packaging Skincare Product, Eco-Pac Tube; Best Packaging Hygiene Product, Refill Revolution Multi-Use Body Stick; and Silver Beauty Award, ColorVue Lipstick.