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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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P&G’s Planned Billie Acquisition? Not So Fast, FTC Says

Less than a year after the US FTC put the skids on Edgewell’s intended acquisition of Harry’s, it is intervening to stop P&G from buying women’s razor startup Billie. “If P&G can snuff out Billie’s rapid competitive growth, consumers will likely face higher prices,” FTC leadership says.

Edgewell Without Harry’s: Strategic Path Remains The Same, Just A Longer Road Now

One week after the FTC challenged the deal as anticompetitive, Edgewell announced on 10 February that it has terminated its merger agreement with direct-to-consumer upstart Harry’s. The firm remains focused on improving its underlying business and says its first-quarter results, posted the same day, show that its strategy is working.

Natura Making Strong Headway In The Body Shop Transformation; Next Up, Avon

The Brazilian beauty giant reported 8.8% growth in The Body Shop sales in the fiscal 2019 first half, driven by strong gains in the UK and other key markets, offsetting the effect of 37 store closures in the past year as part of Natura’s transformation plan for the business. Meanwhile, incoming acquiree Avon is seeing better productivity, though sales continued to fall in the firm’s second quarter.

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