Global demand for organic personal care and cosmetic products is only set to grow. In fact, between now and 2026, the market is expected to grow at a CAGR of 8.7%. All thanks to rising consumer awareness about the harmful effects of materials, such as aluminum compounds, found in skin care products. With growth showing no signs of cooling, companies benefiting from demand include Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), Ulta Beauty (NASDAQ:ULTA), Coty Inc. (NYSE:COTY), E.L.F. Beauty Inc. (NYSE:ELF), and L’Oreal SA (OTC:LRLCY) are already benefiting.
According to analysts at Research and Markets, North America is the largest market. “American consumers are constantly seeking eco-friendly, ethically labelled products, which are free from harsh chemicals, which in turn, is boosting the demand for plant sourced skincare products. The organic skincare market has been driven by premiumization and product innovations. Additionally, approximately 78% of the American customers prefer fruit - based extracts, and 76% prefer honey as a key ingredient in their skin care products,” they added. “Hence, the key players in the market are trying to launch organic skin care products infused with these ingredients in order to capture the on-going interest of the consumers and gain competitive advantage in the country.
Look at Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), for example
Better Plant Sciences Inc. just announced the launch of Jusu Labs, a division of Better Plant dedicated to partnering with celebrities and other influencers to create additional revenue streams by selling healthy and sustainable co-branded products to their audiences.
Better Plant has over 500 plant-based formulas ready for production, including personal care products and food and beverage formulas. Products can be launched through Better Plant’s trusted Jusu brand, as a white label, or as a featured brand under the Jusu label. Influencers can take advantage of Jusu’s production facility, and its eCommerce platform and fulfillment network to launch products quickly and efficiently.
Better Plant is working with Mieux Digital Agency, experts in all aspects of marketing, branding, eCommerce, affiliate programs, and influencer programs. The Company has engaged Mieux specifically to increase brand awareness and gain access to prospective celebrity influencers, as part of its new division, “Jusu Labs”.
“This partnership with Mieux will be a way for Better Plant to continue to reach more potential customers who resonate with the brand’s values and messaging via aligned celebrity influencers. In particular, influencers that align with plant-based, healthy products,” says Better Plant’s Vice President of Marketing, Gabriel Villablanca. “We know there are celebrities who want to support these kinds of initiatives, especially by supporting products they love. Our partnership will allow us to work together to find these partners and potentially create new lines of products that do that.”
Mieux previously set up a well-publicized collaboration with Jusu and Wu-Tang Clan’s contemporary fashion and vegan accessories line, 36 Chambers. The campaign featured Jusu’s all-natural plant-based hand sanitizer, aptly named ‘Protect Ya Hands’, which was featured in publications such as Hypebeast, Complex, Pitchfork and NME.
“We couldn’t be more excited for our partnership with Better Plant,” said Nik Topolovec, President of Mieux Digital. “The world is looking for plant-based product solutions and Better Plant is uniquely positioned to help folks with influence bring their plant-based products to market. By bridging the gap, we are hoping to provide celebrities with unique products and development opportunities that can help them build their businesses, personal brands and bring wellness offerings to their fans. The future is incredibly bright in this space!”
With the increased exposure of celebrity endorsements and its partnerships with trusted wholesalers in globalized marketplaces, Jusu is well positioned to attract retailers globally.
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. A reconciliation of non-GAAP financial measures to the respective GAAP measures is included in this release.
Coty Inc., one of the world’s leading beauty companies and the global leader in fragrances, announced that Lancaster has become the first ever sun care brand awarded the prestigious C2C Certified Material Health Certificate at the Silver level from the Cradle to Cradle Products Innovation Institute. The award indicates that 100% of the ingredients in Lancaster Sun Sensitive collection –Lancaster’s first clean and vegan range, and its most environmentally friendly yet - meet the Institute’s strict criteria. In addition to recognizing the sustainable innovation behind the collection, the Certification serves as the foundation for further improving the sustainability and product safety of sun care products over time.
E.L.F. Beauty Inc. announced results for the three and nine months ended December 31, 2020. Net sales increased 10%, or $7.8 million, to $88.6 million, as compared to $80.8 million in the three months ended December 31, 2019. The increase was driven by strength in e-commerce, international, and our national retailers. Gross margin decreased 50 basis points to 64%, as compared to 65% in the three months ended December 31, 2019. Gross margin benefited from margin accretive product mix and cost savings, a mix shift to elfcosmetics.com, and to a lesser degree, a favorable foreign exchange rate impact. Offsetting these benefits were certain costs related to retailer activity and space expansion.
L’Oreal SA announces a minority investment in Swiss environmental tech startup Gjosa, made through its corporate venture capital fund BOLD Business Opportunities for L’Ore´al Development. Based in Bienne, Switzerland, Gjosa develops unique water-saving solutions. L’Ore´al and Gjosa have been working together since 2015 to optimize shampoo rinse technologies with the objective to save water. In 2018, L’Ore´al and Gjosa have announced the development of a shower head able to rinse shampoo with 1.5 litre of water (instead of 8 usually used). At CES in January 2021, L’Ore´al and Gjosa have presented the L’Ore´al Water Saver, a sustainable haircare system for the salon and at-home beauty routine.
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