P&G Abandons Billie Acquisition; Coty Board Changes; Beauty News In Brief
Executive Summary
P&G and women’s razor competitor Billie call off their proposed combination after the FTC made initial moves in December to prevent the deal, deeming it not in consumers’ interest. More cosmetics industry news in brief.
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Edgewell Announces Fieldtrip For Gen Z, Including Around-The-World Ingredient Tour
Edgewell has hitched its wagon to younger consumers in its return to quarterly growth, from women’s shave brand Billie, acquired in late 2021, to rebranded Schick Men and now Fieldtrip, a new skin-care line featuring sustainably sourced ingredients across four continents, plus environmentally thoughtful packaging. “Gen-Z consumers expect more than just functional benefits,” Edgewell says.
Unilever Plan To Grow Consumer Health By Acquisition, Meet US Tightening Of Merger Scrutiny
Unilever, which has had three offers for GSK rebuffed, likely notes that the Federal Trade Commission and Department of Justice signal they will tighten scrutiny of deals that merge companies providing consumer-facing products and services.
Edgewell Cuts $310m Billie Deal Without FTC Incident
Acquisition of value-tier, female-first razor firm Billie, Inc. – previously attempted by P&G before the US Federal Trade Commission intervened – will add a youthful, on-message brand to the Schick owner’s women’s shave portfolio. The deal follows Edgewell’s bid to acquire Harry’s in 2020, also thwarted by the FTC.