Mauritian company Flame Tree Group is taking news step into the cosmetics sector by signing an acquisition agreement to buy Kenyan brand Suzie Beauty, for an undisclosed amount.
Flame Tree Group acquires Kenya's Suzie Beauty
Mauritius-based company makes third acquisition in personal care sector
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Sub-Saharan Africa personal care market comes of age
Read moreThe country's personal care product sector is growing across the continent, while wealthy South Africa offers rich pickings
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Colour Cosmetics
Regional report – Eyes on Africa
Africa\'s middle class has tripled in size in the last 30 years and is driving the continent\'s demand for cosmetics. In Nigeria cosmetics companies are racing for market share. While multinational brands dominate the market in Kenya and Uganda and lack of capacity for local manufacturing remains an issue, local entrepreneurs are outsourcing manufacture and are using unique sales strategies. Meanwhile, South Africa, the continent\'s most mature market, has seen local economic difficulties dampen demand for premium products
Research & Development
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L'Oréal’s strategic corporate venture capital fund BOLD said it will leverage its beauty and formulation expertise to explore the broader scientific value of innovative bio-actives via a minority investment in PAM2L Biotechnologies
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Finance
Colgate-Palmolive fined $930,000 by US authorities over ‘violations’ of chemical reporting
Colgate-Palmolive, the owner of Sanex, failed to report numerous chemical substances imported between 2016 and 2019, and has reached a settlement with the US Environmental Protection Agency over violations of its chemical reporting