Vegan skin care brand acquisition
In December 2021, L’Oreal SA (L’Oreal) acquired US superfood skin care specialist Youth to the People (YTTP) in order to expand its offering of ethical products. YTTP provides a range of vegan skin care products produced with unconventional superfood ingredients that include kale, green tea and spinach. The company’s range of cleansers, face creams serums and exfoliants are stocked by major online and in-store retailers globally, with sales forecast to reach $50.0 million during 2021. The acquisition provides L’Oreal with a strategic addition in a competitive global market for ethical beauty products.
New Activity|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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