LG Household & Health Care to Acquire New Avon

LG Household & Health Care, Ltd. has announced a deal to acquire New Avon, LLC for $125 million cash. In 2016, the company was separated into privately-held entity owned by Cerberus Capital Management, L.P. and Avon Products, Inc., and has a dedicated employee base and network of 250,000 sales representatives throughout North America. As part of the deal, LG H&H will acquire the entirety of Cerberus’ majority interest and Avon Worldwide’s minority interest in Avon North America.

LG H&H’s is currently the number one consumer goods company in Korea, with a market capitalization of USD $20 billion and full-year revenue of approximately USD $6 billion for 2018. Over the last few years, LG H&H has accelerated its expansion beyond Korea, with brands such as The history of Whoo and belif. The deal will help support LG H&H’s international growth plans, while Avon North America is expected to benefit from LG H&H’s R&D capabilities.

Suk Cha, CEO of LG Household & Health Care, said, “We recognize Avon North America’s strong brand, leading market position in the region, and talented employees and Representatives. Avon North America’s innovative social selling model builds deep connections with customers and we are excited to leverage this as we continue to expand. We look forward to building on Avon North America’s success to drive customer engagement and long-term growth in this market.”
The transaction is expected to close on September 30, 2019.

Brandless Debuts New Clean Beauty Skin Care Essentials

Brandless is moving forward with its mission to make clean and cruelty-free beauty and personal care products more financially accessible through the launch of ten new products, which debuted this week. The products include a depuffing eye gel, hydrating rose water facial toner spray, facial wipes made from 100 percent plant-based substrate, and vegan, responsibly-sourced makeup brushes, ranging in prices from $4 to $8. The brand has created its own list of over 400 potentially harmful ingredients, including sulfates, phthalates and parabens, which are banned from its assortment.

Kylie Cosmetics Expands into Eyebrows

In true Kylie Jenner style, the 21-year-old mogul used Instagram to announce a new category extension of her popular Kylie Cosmetics empire: brows. The new collection, Kybrow, will be launching on April 29 at 9am PST, and includes all the makeup essentials needed for achieving the perfect arch: a brow pencil, pomade, powder duo, brow gel, highlighter and brush. Price points have not been announced yet. Forbes estimates Kylie Cosmetics, which launched in 2015, to be worth at least $900 million.