Information

THE WHAT? Louis Vuitton is said to be looking to open its first duty free store in the luxury island hub of Hainan, according to a report by Reuters. THE DETAILS According to two sources, Louis Vuitton will possibly open a duty free shop in the Haitang Bay shopping centre, located in Sanya. This will be developed …

THE WHAT? Alex Gorsky, CEO of Johnson & Johnson, has joined the Apple board of directors, ahead of his plan to leave J&J in January 2022.  THE DETAILS According to a company statement, Apple said, “Gorsky will bring decades of experience in corporate leadership and health technologies, and a long track record of leading innovative and diverse …

THE WHAT? Special-purpose acquisition company Waldencast has acquired skin care brand Obagi and make-up and skin care company Milk Makeup in a three-way deal valued at US$1.2 billion.  THE DETAILS Waldencast will be led by Founder and CEO and former L’Oréal exec, Michel Brousset, while Co-founder Hind Sebti, who has worked at L’Oréal and Procter & Gamble, …

THE WHAT? UK supermarket Morrisons has acquired a significant stake in a new recycling site in Fife, which will reprocess ‘hard-to-recycle’ soft plastics.  THE DETAILS The purchase will make Morrisons the first UK supermarket to own its own recycling operations, which is co-owned by recycling plant specialists Yes Recycling.  The plant will turn hard-to-recycle flexible food packaging …

THE WHAT? Johnson & Johnson has announced a plan to spin off its consumer health business, creating a new publicly traded company. THE DETAILS The new Consumer Health Company would comprise four US$1 billion megabrands and 20 brands over US$150 million, including Neutrogena, Aveeno, Tylenol, Listerine, Johnson’s and Band-Aid. It is expected to generate revenue …