Quarter 1
L’Oréal heiress, Françoise Bettencourt Meyers, reached a remarkable milestone of becoming the world’s first woman to attain a $100 billion fortune. Bernard Arnault, the eminent figure behind LVMH, was awarded France’s prestigious Grand Cross of the Legion of Honor, marking his inclusion in the New Year’s honors list. The Direct Selling Association has named Ayo Olaseinde as its Board Chair. Concerns arose at the John Lewis Partnership as it considered reducing its workforce by up to 11,000 over five years. Meanwhile, the National Association of Corporate Directors allied with e.l.f. Beauty, representing around 24,000 directors in the US. Market whispers suggested THG was planning job cuts, with roughly 160 employees, primarily from marketing, sales, and warehousing, set to face redundancies. L’Oréal established a policy requiring its 87,000 global team members to work from the office on at least two Fridays monthly. Revolution Beauty reached a resolution with its former CEO Adam Minto after issues caused delays in auditing its FY22 results, which suspended its Aim shares. Superdrug, in collaboration with Savers, aimed to recruit a further 500 apprentices. In another development, Aurelius appointed administrators to oversee The Body Shop’s UK division shortly after its £207 million purchase from Natura & Co.
Quarter 2
Jessica Alba announced her departure as Honest Company’s Chief Creative Officer to explore new ventures. Walmart revealed strategic layoffs alongside a return-to-office directive. e.l.f. Beauty introduced a provocative campaign titled ‘So Many Dicks,’ spotlighting the corporate boardroom’s diversity gap. Procter & Gamble outlined a plan to relocate 1,500 positions from its Winton Hill Business Center by late 2024.
Quarter 3
After a significant 28-year journey, Alessandro Manfredi parted ways with Unilever, exiting his role as the global CMO for Dove. Sara Davies MBE, known for her entrepreneurial acumen on Dragons’ Den, embraced her new position as Chief Inspiration Officer at Avon UK. Keerthana Ramakrishnan decided to step down as CMO of 82˚E. Speculation surrounded the exit of Tracey Travis, Estée Lauder’s EVP and CFO. Unilever announced plans to trim a third of European office roles as part of growth strategies steered by their newly appointed CEO. The Chinese fast fashion giant, Shein, drew attention from UK parliamentary committees regarding its proposed London listing and the need for regulatory scrutiny before its IPO. In response to imposed penalties, suppliers confronted Temu at its Guangzhou office. Unilever relocated its US headquarters to Hoboken, claiming significant office space on River Street. To support its holiday season rush, Bath & Body Works planned to onboard 30,000 seasonal hires across North America. Lush made a strategic choice to shutter a woodshop in British Columbia and move manufacturing from Vancouver to Toronto.
Quarter 4
CVS Health detailed its intent to enhance efficiency by reducing its workforce by 2,900, totaling under 1% of staff. Procter & Gamble faced shareholder inquiries concerning gender and racial pay disparities and an unsuccessful attempt to oust CEO Jon Moeller. The Body Shop declared a new chapter under different leadership as it shifted its head office to Brighton. Superdrug enlisted Gemma Collins to champion its beauty services campaign, aligning with seasonal offerings. Harvey Nichols added a fresh dimension with the appointment of Kate Phelan as their inaugural Creative Director. Lastly, Ma:nyo, noted in the K-beauty sector, celebrated the achievements of its adaptable work arrangements.