Health & Beauty
The latest news, updates and analysis on the health and beauty segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Feb- 2024 -8 February
Revolution Beauty eyes £1bn sales target amid turnaround strategy
Revolution Beauty has unveiled a new turnaround strategy amid plans to target sales of £1bn by 2030. The group said its ‘Reigniting the Revolution’ strategy will aim to deliver “long-term profitable growth in an attractive global beauty market, where Revolution Beauty has significant headroom to expand”. The plan is based…
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7 February
Estée Lauder to cut up to 3,100 jobs amid global sales decline
Estée Lauder has announced a restructuring programme, which will see the group cut up to 3,100 jobs across its global workforce, as net sales fell 7% to $4.28bn (£3.39bn) for the second quarter ended 31 December 2023. According to the group, the restructuring programme will go hand-in-hand with a further…
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6 February
Revolution Beauty reaches settlement agreement with co-founder
Revolution Beauty has reached a settlement agreement with its former CEO and co-founder Adam Minto, following an initial announcement on 13 December. The former CEO will pay the company a settlement sum of £2.9m in six annual instalments, with the first payment of £483,333.35 due on 28 March. Subsequent payments…
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5 February
Superdrug aims to enrol 500 apprentices throughout the year
Superdrug has pledged to take on a further 500 apprentices throughout 2024 in support of National Apprenticeship Week (5-11 February). Last year, the health and beauty retailer pledged to recruit 500 new apprentices over three years. However, it proved to be successful, reaching over 80% of this recruitment target by…
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1 February
Lloyds Pharmacy enters voluntary liquidation
Lloyds Pharmacy has entered voluntary liquidation owing its 514 creditors over £293m. As first reported by Chemist and Druggist, the company – which is now known as Diamond DCO Two Limited – filed documents for voluntary liquidation with Companies House on 22nd January. The documents reveal it has appointed Martin…
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Jan- 2024 -31 January
The Body Shop to offload part of international businesses
The Body Shop is set to sell parts of its business in Europe and Asia under its new owners Aurelius, according to reports from Retail Week. The beauty retailer has signed an agreement with “an international family office to sell its business in most of mainland Europe and in parts…
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29 January
THG to cut 160 jobs across three departments
THG has plans to cut 160 jobs across its marketing, sales and warehouse departments, The Times has reported. It is understood that roughly 60 marketing and sales roles are due to be dismissed at the retailer’s online and tech business. In addition, the group plans to cut the remaining 100…
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24 January
Bridgepoint to acquire RoC Skincare
Bridgepoint has announced a strategic investment in RoC Skincare (RoC) from the brand’s existing backer, Gryphon Investors for an undisclosed amount. Founded in Paris in 1957 by Dr. Jean-Charles Lissarrague, RoC is one of the largest independent skincare brands worldwide, offering clinically proven, dermatologist-backed skin health solutions with a focus…
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16 January
Superdrug sales rise 9.2% in December
Superdrug has experienced a strong Christmas trading period, as total sales rose 9.2% in the four weeks ended 30 December and like-for-like sales rose 7.1%. The retailer attributed its continued focus on its online and in-store offering, as well as investment in providing “high performance” products at an affordable price. …
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4 January
Superdrug permanently halves prices of over 150 items
Superdrug has revealed that it will permanently reduce the price of over 150 everyday and essential items to make shopping for necessities more affordable. The retailer said the price reduction is its next step in supporting customers with the current cost of living crisis, having previously frozen the prices of…
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