NEW YORK, May 1, 2020 /PRNewswire/ -- The cosmetics industry has experienced an impressive period of growth over the past decade. Overall, there are many factors that have played in favor of the industry, including a considerable rise in disposable incomes, progress in global economies, changing lifestyles, rising demands of skin and sun care products due to varying climatic conditions and more. Among the various segments of the cosmetics industry are sun care, skin care, hair care, deodorants, makeup and color cosmetics, as well as fragrances; amidst them, skin care products represent the fastest growing segment. It is also one of the most technically advanced, complex and diverse categories of cosmetics as products in this category undergo many dermatological tests before they are manufactured and introduced for final use in the market. Presently, product manufacturers are using new technologies such as nanogold and nanosome technology, or nano particles, for the manufacturing of skin care products. And, overall, the global cosmetics market is expected to grow to USD 429.8 Billion by 2022 while registering a CAGR of 4.3%, according to Allied Market Research. Pressure BioSciences, Inc. (OTC: PBIO), Ulta Beauty, Inc. (NASDAQ: ULTA), The Estée Lauder Companies Inc. (NYSE: EL), e.l.f. Beauty (NYSE: ELF), Coty Inc. (NYSE: COTY)
Currently, there is a rising trend in the industry of an increased focus on natural ingredients in cosmetic products. For example, the use of herbal cosmetic products minimizes the chances of any possible side effects of the product, and eventually increases the usage of cosmetics among individuals. In recent years, with the rise of the cannabis industry, cosmetics using the plant's ingredients have also increased in popularity. In particular, cannabidiol, commonly known as CBD, is a naturally-occurring chemical compound found in cannabis plants, and is considered safe and effective for all skin types. Most commonly, CBD skin care products are useful for people who struggle with sensitivity, inflammatory conditions, acne, and skin related dryness.
Pressure BioSciences, Inc. (OTCQB: PBIO) announced yesterday breaking news regarding,
"a letter of intent to acquire SkinScience Labs, Inc., parent company of the award-winning Dr. Denese skin care and anti-aging product lines. The rights to acquire SkinScience Labs, Inc., which includes Dr. Denese SkinScience, is through Cannaworx, Inc. PBI announced plans on April 28, 2020 to acquire Cannaworx, Inc. (https://finance.yahoo.com/news/pressure-biosciences-announces-plans-acquire-121500615.html).
Dr. Adrienne Denese, M.D., Ph.D. (Cornell, Harvard) is an industry leader in scientific skin care breakthrough technologies. Dr. Denese, an accomplished doctor, businesswoman, and skin care visionary, is the creator of the award-winning Dr. Denese SkinScience®. Dr. Denese has made it her life's mission to help women look younger, feel younger, and live healthier lives. Over the past 17 years, her skin care and anti-aging product lines have been top sellers on QVC, generating approximately $18 million in sales in 2019 and over $500 million in sales over the past 17 years (https://drdenese.com).
Mr. Richard T. Schumacher, President and CEO of PBI, said: 'The Dr. Denese SkinScience brand has reached top performing status on QVC for a skin care line, selling over 25 million units and receiving multiple QVC customer choice beauty awards. Adrienne's tremendous brand recognition, regularly repeating customer base, and major existing sales momentum brings immediate accretive impact into the PBI portfolio – and we know that our UST nanoemulsions will create powerful new leverage and opportunities for her expanding product lines. Our team has worked very hard to bring this pivotal transition together for PBI and its shareholders, and we are very excited about the prospects for growth and value appreciation in our combined companies going forward.'
The Dr. Denese SkinScience product lines will leverage PBI's Ultra Shear Technology (UST) for preparing nanoemulsions, to propel their product lines through new frontiers in product quality and effectiveness, for both existing cosmetics formulations and the introduction of new nutritional and therapeutic components that clearly reposition them into the rapidly emerging cosmeceuticals applications arena.
Dr. Bobby (Babak) Ghalili partnered with Dr. Denese to create Cannaworx, Inc., bringing their combined medical and product design innovation backgrounds together to build a wide portfolio of products for Cannaworx in the cosmeceuticals industry. Dr. Ghalili added: 'We are very proud to have a luminary like Dr. Denese bringing her vision and dedication to breakthrough innovations and quality in skin care and anti-aging products, and her large and loyal following of dedicated customers into our new, combined company.'
Adrienne Denese, MD., Ph.D., characterized the compelling case for combining the three companies: 'Our strong long-term repeating sales across a wide range of skin care & anti-aging products has been achieved with a passion for optimizing the consumer's experience and outcomes with our products. The potential for PBI's UST platform to deliver ultra-low nanoemulsions that yield higher and more consistent bioavailability of nutrients and therapies, while minimizing the need for added stabilizers and improving safety, created an undeniably convincing case for applying it to our products. In addition, we believe PBI's UST process will drive the nanoemulsion droplet sizes so small they not only will deliver new levels of silkiness, absorbability, and appeal, but should also turn previously cloudy mixtures into high quality transparent products.'
The Letter of Intent between Cannaworx and SSL is subject to certain closing conditions, including completion of all due diligence and acquisition financing."
For our latest "Buzz on the Street" Show featuring Pressure BioSciences, Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=utDim_mAMow
Ulta Beauty, Inc. (NASDAQ: ULTA), the largest U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services, announced back in March financial results for the fourth quarter and of the fiscal year ended February 1st, 2020. According to the Company, net sales increased 8.5% to USD 2,305.9 Million compared to USD 2,124.7 Million in the fourth quarter of fiscal 2018. "The Ulta Beauty team delivered results for the fourth quarter at the high end of our expectations, and I am proud of how our teams worked together to serve our guests this holiday season," said Mary Dillon, Chief Executive Officer. "Our enhanced omnichannel capabilities, combined with our merchandise exclusives, cross-category marketing events, and great execution by our store teams, enabled us to expand our market share and deliver a successful quarter."
The Estée Lauder Companies Inc. (NYSE: EL) announced last year that it had completed its acquisition of Have & Be Co. Ltd., the Seoul-based, global skin care company behind Dr. Jart+ and men's grooming brand Do The Right Thing. Founded in 2005 by ChinWook Lee in Seoul, South Korea, Dr. Jart+ is a high-growth, global skin care brand fueled by cutting-edge innovation that offers a wide variety of high-performing skin care products. With a unique combination of dermatological science and art – as is reflected in the brand name, which is inspired by the phrase "Doctor Joins Art" – Dr. Jart+ appeals to a broad range of consumers and has a devoted following among millennials in Asia and the United States.
e.l.f. Beauty (NYSE: ELF) announced earlier this year the acquisition of cruelty-free, clean beauty company W3LL PEOPLE for USD 27 Million in cash. e.l.f. plans to leverage its marketing, customer relationships and operational capabilities to drive the W3LL PEOPLE brand. e.l.f. expects W3LL PEOPLE to contribute approximately USD 7 Million in net sales and USD 0.01 to its adjusted earnings per share on a fully diluted basis in fiscal 2021. "We are pleased to bring clean beauty pioneer W3LL PEOPLE under the e.l.f. Beauty umbrella as our first strategic extension. Clean beauty is a strategically important segment given consumer sentiment and strong growth rates. W3LL PEOPLE has a long history of expertise and credibility in clean beauty that works. Their brand values and market opportunity align closely with e.l.f. and we believe there are a number of synergies to be realized on both the cost and distribution fronts," said Tarang Amin, e.l.f. Beauty Chairman and Chief Executive Officer.
Coty Inc. (NYSE: COTY) announced earlier this year its updated sustainability platform, "Beauty that Lasts," with goals focusing on three pillars: 'The Beauty of our People', 'The Beauty of our Products' and 'The Beauty of our Planet'. The sustainability platform is part of the company's Turnaround Plan to build a better business while making a positive contribution towards societal, ethical and environmental change within the beauty industry. This step reinforces Coty's continued support of the UN Global Compact Ten Principles which was announced five years ago. "We want to ensure our business is ready to compete in a more circular economy and to benefit from a more inclusive society," said Pierre Laubies, Coty, CEO. "We have seen huge interest and momentum from our associates, consumers and customers in these areas. We believe that by confirming targets, we will inspire action; and these goals will allow us to play a role alongside our peers to deliver meaningful impact in our industry."
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