The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
With increasing concerns surrounding global climate change, beauty brands – namely those in colour make-up – are having to re-think, revise and reinvent their products with the environment in mind. With the eco-beauty landscape changing by the minute, contributing beauty and lifestyle editor, Kathleen Baird-Murray shines the light on sustainable sourcing, responsible labour and the brands making a difference.
Zipline is partnering with Walmart for a new drone delivery operation in the US, the companies announced. Zipline’s launch and release system allows for on-demand delivery in less than an hour, and operating from a Walmart store, can service a 50-mile radius.
China has become a battleground for plant-based meat companies looking to tap into the world’s largest market for meat-consumption. American plant-based meat company Impossible Foods Inc. said Thursday it is awaiting regulatory approval to enter the China market, while rivals such as Beyond Meat have pushed forward with plans to set up production in China despite edgy relations between Beijing and Washington.
Glossier has announced the recipients of its Black-owned beauty business grants, amidst allegations that the cult US beauty brand allowed non-inclusive retail environments. The initiative created in response to Black Lives Matter provides mentorship and a total of $500,000 to 16 US-based brands.
Beam, a 2-year-old DTC brand, is out to show that CBD is not just a product of the Netflix-and-chill variety. CBD first emerged in the beauty industry as a means of combatting skin inflammation in beauty, before quickly finding itself as a wellness supplement to address stress and anxiety.
At-home workouts have exploded as the coronavirus pandemic shifted wellness routines from gyms and parks to living rooms and balconies. The latest proof: the blowout earnings from at-home bike and streaming fitness subscription company Peloton Interactive, which crushed earnings estimates this week and said it expects demand to stay strong into 2021.
The John Lewis Partnership is plotting the takeover of a fast-growing recipe box provider backed by the former Wimbledon champion Sir Andy Murray as it seeks to tap into consumers’ post-pandemic penchant for subscription services. Sky News has learnt that Waitrose is in detailed negotiations to buy Mindful Chef, which provides meal-kits to thousands of customers and has seen sales explode during the coronavirus crisis.
For Peloton, the pandemic has been profitable. The at-home fitness company announced its first-ever quarterly profit, which was bolstered by a 172% surge in sales and more than 1 million people subscribing to its streaming classes.