Industry News Flash #1 - Personal Care - June 18, 2024

⚡️ Personal Care Industry News Flash 🗞️ 

Ingredient Launch:

RejuveNAD™ is a holistic approach by Mibelle Biochemistry that naturally boosts the NAD+ molecule for skin longevity, and fights skin aging. It won the Silver award for best active ingredient at in-cosmetics Global 2024. Check it out on Covalo now!

Scientific Breakthrough:

ISO has recommended advancing the in-vitro Sun Protection Factor (SPF) method to the FDIS stage. This means that once this method is finalized, pending final vote in September, the industry will benefit from 1) significant savings in testing costs, 2) a more responsible and accessible testing method for all labs that doesn’t require human volunteers.

Regulations & Compliance:

The new Modernization of Cosmetics Regulation Act (MoCRA) law of the U.S. FDA will go into effect on July 1, 2024. This law requires cosmetics brands, manufacturers, and labs to submit Product Listings by July 1. Under this law, the FDA has the powerful authority to issue warning letters, detail imported products, inspect facilities and more. Make sure you comply and stay ahead of the deadline!

[Source: Registrar Corp]

Company/Brand Update:

The Estée Lauder Companies Inc. has acquired Deciem Beauty Group, for a total investment of $1.7B. The Ordinary being its most notable brand, Deciem is a leader in science-backed beauty, which has gained popularity among today’s increasingly knowledgeable and demanding consumer base.

Sustainability Update:

L’Occitane en Provence, Carbios and Pinard Beauty Pack have joined forces to launch a new sustainable packaging innovation — a 100% bio-recycled transparent PET bottle from enzymatic recycling. This represents a shared desire to build an efficient European recycling sector to accelerate the transition to a circular economy.

Events & Tradeshows:

BeautyMatter’s 2024 FUTURE50 Summit in NYC is coming up this week on June 20, 2024. BeautyMatter has curated and recognized a list of top brands and retailers to know and watch, as they push the boundaries of innovation. A few brands that made the list this year: Glossier, Malin + Goetz, Alpyn Beauty, Kopari Beauty, and more. While the event itself is sold out, get to know the brands on this list for inspiration! 

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