This week, I’m trying something different. The Beauty & Wellness Briefing will continue to offer in-depth industry coverage, but from now on, you can expect a more well-rounded take on timely topics and insights from conversations across the beauty world. You’ll also see interesting tidbits, news of executive moves and roundups of other noteworthy beauty happenings. I hope this becomes a one-stop shop for the news you need to know. Let me know what you think and what suggestions you may have by emailing me at emma@glossy.co.
EMV and brand awareness are the name of the game in 2024.
Brands have opened up their marketing funnels again, investing more in top-funnel brand awareness activities. This year, Beekman 1802 is investing in connected TV for the first time and recently introduced a formal ambassador program, with EMV a big focus, said Brad Farrell, CMO of Beekman 1802. Meanwhile, Urban Skin Rx pulled back its top-funnel influencer marketing by 60% in 2023 as it invested more in performance media, only to reinvest that 60% in top-funnel marketing for 2024 — its paid media investment remained flat year-over-year. For 2024, the Curology team also shifted its focus to be more omnichannel and full-funnel by newly investing in live-streaming TV, among other tactics. Regarding TikTok, both Olaplex and Estée Lauder aimed to capture EMV late last year as Olaplex launched a digital campaign and Estée Lauder entered TikTok Shop.
“The biggest thing we’re trying to learn is how to create the most effective model to drive that total EMV. At the end of the day, that’s what we want,” Jon Roman, svp of global online at The Estée Lauder Companies, said at the time.
So, what’s driving the shift? Some execs point to consumer confidence and willingness to explore and shop for new brands. Between Nov. 2023 and January 2024, consumer confidence grew, according to The Conference Board, a non-profit business and research group. However, February data showed a modest decline, signaling the fickleness of consumers and economic uncertainties. Another consideration pointing toward a renewed interest in investing in EMV is the maturity of some brands, like Curology, which grew to $200 million in revenue in 2022. Such brands must create an emotional relationship with consumers rather than only point to direct product benefits. But EMV has limitations, and some execs don’t like it. EMV alone doesn’t measure the quality of the earned media or the influence of the brand, plus it often doesn’t specify where along the consumer journey someone interacted with the brand. Since it can be bought with a splashy campaign, it’s a surprisingly poor metric for tracking ROI and brand growth.
Stat of the week:
Approximately 50% of the E.l.f Beauty company, in some capacity, reports to an executive in marketing — a department overseen by Kory Marchisotto, CMO. That includes workers in product development and innovation. This corporate arrangement is partly responsible for the 20-year-old company’s ability to respond quickly to market trends. For example, its famous Jennifer Coolidge 2023 Super Bowl commercial came together in three weeks. The team gave itself more wiggle room this year, taking seven weeks to produce its “Judge Beauty” ad. As the team says, they move at “E.l.f speed.”
Executive moves:
- Chanel Inc. has named Emilie de Tramasure gm of fragrance and beauty, effective Sept. 9. She succeeds Barbara Menarguez, who will retire from Chanel on April 26.
- Markus Strobel, the longtime head of Procter & Gamble’s skin and personal care businesses, will retire, effective Aug. 1.
- Freddy Bharucha, president of North American personal care and beauty operations for P&G, was named global president of personal care
- Sue Kyung Lee, CEO of SK-II, was appointed global president of P&G Skin Care.
- The Beauty Health Company, owner of Hydrafacial, appointed Marla Beck as the Company’s permanent president and CEO. Beck has been Interim CEO since November 20, 2023.
- ZO Skin Health, founded by dermatologist Dr. Zein Obagi, named Justin Skala as the new CEO
- Shiseido appointed Alberto Noé its president and CEO of the Europe, Middle East and Africa (EMEA) region.
- Deirdre Stanley has decided to resign from her position as evp and general counsel at The Estée Lauder Companies. Stanley will remain in her role until April 2, 2024. Her successor has yet to be announced.
News to know:
- Starting Monday, oatmilk company Oatly and fitness company Barry’s partnered up to feature Oatly’s new Unsweetened Oatmilk on Fuel Bar menus in Barry’s studios nationwide. The collaboration ends April 22.
- On Monday, Westman Atelier revamped its loyalty program. It now features first-to-know product releases, private offers, event invitations and the opportunity to redeem points for savings at checkout.
- Summer Fridays introduced its first expansion of the Jet Leg franchise with an Overnight Eye Serum, available March 26.
- Goop announced that its wellness summit will return to Southern California on April 20.
In the headlines:
Versed held its first-ever pop-up. Celine piled into designer-brand cosmetics with lipstick. Michael Kors introduced its first fragrance under new licensing. Exosomes are trending. Ulta Beauty reported FY2023 full-year profit below expectations. Influencer Matilda Djerf unveiled the Djerf Avenue Beauty line.
Need a Glossy recap?:
Ulta Beauty expanded its take-back program. Gabrielle Union and Larry Sims discussed the challenges of brand-building. Kinship expanded its sensitivity marketing to all ages. And Michelle Freye, global brand president of Clinique, joined Glossy Beauty podcast.
