Growing demand for organic personal care products could create a market worth $25.11 billion by 2025, says Grand View Research. “Growing demand for organic products has resulted in an increase in their availability in supermarkets, malls, and drugstores. In addition, growth in online market where consumers can access a wide range of products from any part of the world has been a primary reason for increase in accessibility and is expected to remain a key contributing factor for the market growth over the forecast period,” they noted. That’s great news for companies like Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), Ulta Beauty (NASDAQ:ULTA), Coty Inc. (NYSE:COTY), Amazon.com (NASDAQ:AMZN), and Estee Lauder Companies Inc. (NYSE:EL). In addition, by 2027, the market could be worth up to $54.4 billion, as noted by Formula Botanica.
Look at Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), for example
Better Plant Sciences Inc. just announced that its Jusu Home and Body line is now available for purchase on Faire Wholesale Marketplace, an online wholesale marketplace valued at US $2.5 billion. Jusu Home and Body products are currently featured in their “New Arrivals” section.
Growing by 200% year over year, Faire currently serves over 170,000 independent retailers across North America, representing more retail locations than Marks & Spencer, Boots, Aldi, Starbucks, and Tesco combined. The platform has also recently launched in the United Kingdom and the Netherlands, with other European markets to follow in the coming months. “This partnership with Faire gives boutique retailers access to Jusu Home and Body products on a global scale, and will showcase to retailers that are outside of our typical demographic”, says Amber Allen, Head of Sales for Better Plant. “We look forward to promoting Jusu products on this platform and connecting with many diverse buyers.”
Faire provides a holistic, end-to-end platform that enables independent retailers to build, grow, and run their businesses. Leveraging the Faire platform benefits retailers with perks such as payment flexibility and security, free returns, shipping solutions and data-driven recommendations.
According to a report by Globe Newswire, the global market for natural and organic personal care products is projected to reach a revised size of US $23.6 billion by 2027, growing at a CAGR of 9.3% over the analysis period 2020-2027.
Other related developments from around the markets include:
Ulta Beauty announced financial results for the thirteen-week period and fifty-two-week period ended January 30, 2021 compared to the same periods ended February 1, 2020. During the fourth quarter of fiscal 2020, the Company recorded long-lived asset impairment and restructuring related costs, primarily related to the suspension of the Company’s Canadian expansion and employee severance costs, which reduced reported operating income by $30.4 million and net income by $23.0 million, or $0.40 per diluted share.
Coty Inc. announced continued improvement in financial results for the second quarter of fiscal year 2021, ended December 31, 2020. In Q2, Coty reported adjusted operating income of $188.4 million, up 7% versus last year, with a reported operating income of $17.0 million. Strong profit performance in the quarter was fueled by fixed costs savings, which totaled approximately $80 million, consistent with Q1. The strong delivery in 1H21 coupled with the acceleration of certain projects into the year are driving an increase to the savings target for FY21, now expected to be approximately $300 million compared to the previous target of over $200 million. For the quarter, the operational improvements and stringent cost controls resulted in Adjusted EPS for Total Coty of $0.17, which includes two months of contribution from Wella, while reported EPS was $(0.36) driven by the impact of the cost of the Wella transaction as well as additional restructuring accruals under the fixed cost savings plan.
Amazon Web Services and Red Hat, the world’s leading provider of enterprise open source solutions, announced the general availability of Red Hat OpenShift Service on AWS (ROSA), a new managed service available via the AWS Console that makes it easier for Red Hat OpenShift customers to build, scale, and manage containerized applications on AWS. With ROSA, customers can enjoy more simplified Kubernetes cluster creation using the familiar Red Hat OpenShift console, features, and tooling without the burden of manually scaling and managing the underlying infrastructure. ROSA streamlines moving on-premises Red Hat OpenShift workloads to AWS, and offers a tighter integration with other AWS services.
Estee Lauder Companies Inc. announced that after 13 years with the company, Alexandra (Alex) Trower, Executive Vice President, Global Communications, will retire effective July 1, 2021. The successor to Alex’s role will be announced at a later date. “Alex has been a highly respected thought-leader, collaborative partner, and a trusted senior business advisor,” said Fabrizio Freda, President and CEO, The Estée Lauder Companies. “Leveraging her deep expertise across financial, corporate, consumer and crisis communications, Alex has continuously evolved our strategic communications priorities to drive and support the rapid growth of our business. She built a truly outstanding, global, multi-disciplinary organization and has led her team with wisdom and grace, continuously strengthening the delicate balance of art and science that is ever-present in the world of communications.”
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