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Amazon to Invest Over US$35 Billion in India to Accelerate AI, Exports and Infrastructure Expansion
THE WHAT? Amazon has outlined plans to invest more than US$35 billion in India by 2030, focusing on AI development, export growth and expanded operational infrastructure as competition intensifies in one of the world’s fastest-growing digital markets. THE DETAILS The investment builds on Amazon’s existing US$40 billion commitment to India since 2010 and follows…
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Orveda Opens First Bangkok Flagship to Accelerate Global Maison Expansion
THE WHAT? Orveda has launched La Maison Orveda Bangkok, its first flagship in Thailand and the newest addition to its expanding global Maison network. THE DETAILS Located in Bangkok’s Ploenchit district, the flagship marks Orveda’s entry into Southeast Asia, a key prestige skincare market where demand for biotech-led, results-driven skincare is rising. The restored…
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L’Oréal Increases Galderma Stake to 20% in Move to Deepen Presence in Aesthetics
THE WHAT? L’Oréal has acquired an additional 10% stake in Galderma Group AG, bringing its total ownership to 20% as it strengthens its position in the fast-growing medical aesthetics category. THE DETAILS The shares were purchased from a consortium led by EQT—which includes Sunshine SwissCo, ADIA and Auba Investment—for an undisclosed amount. As part…
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Melt&Marble Raises €7.3M to Scale Precision-Fermented Fats for Beauty
THE WHAT? Melt&Marble has secured €7.3 million in Series A funding to scale production of its precision-fermented fats and prepare for commercial launch in personal care. THE DETAILS The round was led by Industrifonden with participation from the EIC Fund, Beiersdorf, Valio, Catalyze Capital and Chalmers Ventures. Including recent EU grants, the company has…
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Innerskin Secures €12.8M to Scale Its European Aesthetics Centre Network
THE WHAT? Innerskin has raised €12.8 million to expand its network of medical aesthetics centres and integrated skin-health services across France and Europe. THE DETAILS IRIS Ventures led the round, joined by existing investor Label Capital. Founded in 2022, Innerskin has grown to 19 centres in France, offering preventive face and body treatments supported…
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P&G Flags Sharp U.S. Category Declines as Consumer Weakness Weighs on Q2 Outlook
THE WHAT? Procter & Gamble has cautioned that U.S. sales across key categories it competes in fell significantly in October and are expected to show similar declines for November, signalling pressure on consumer spending ahead of the holiday period. THE DETAILS Speaking at a Morgan Stanley conference, P&G CFO Andre Schulten reported that category…
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Ulta Beauty Reports Q3 FY2025 Results; Raises Full-Year Outlook
THE WHAT? Ulta Beauty reported third quarter fiscal 2025 results showing growth in net sales, comparable sales, and gross profit, while reaffirming expansion plans and increasing full-year guidance. THE DETAILS Net sales rose 12.9% to US$2.9 billion, driven by stronger comparable sales, the Space NK acquisition, and new store growth. Comparable sales increased 6.3%,…
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L’Oréal Signals Imminent Work on Potential Armani Stake Following Heir Instructions
THE WHAT? L’Oréal has confirmed it will begin work “very soon” on evaluating a potential investment in Giorgio Armani, following new instructions from the late designer’s will outlining a phased sale or listing of the fashion house. THE DETAILS Speaking at a fireside chat with analysts, L’Oréal CFO Christophe Babule said the beauty group…
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Hong Kong Retail Sales Post Sixth Consecutive Month of Growth as October Hits New High
THE WHAT? Hong Kong’s retail sector recorded its sixth straight month of year-on-year growth in October, rising 6.9% to HK$35.2 billion (US$4.5 billion), the strongest monthly increase in half a year. THE DETAILS According to the Census and Statistics Department, October delivered the strongest monthly retail performance in half a year, supported by firmer…