Erim Kaur, entrepreneur and influencer, made $4 million in sales after founding a hair-oil brand rooted in ancient Indian traditions. London-based Kaur has over 700,000 followers on Instagram and TikTok combined, and founded ByErim in 2019 — a luxury haircare brand known for its flagship hair growth oil containing eight pure oils, including Amla, Argan, Coconut, and Castor oil. It has raked in £3.3 million ($4.2 million) since its launchas verified. The 30-year-old pinned the popularity of her hair growth oil on having social media savvy and building a core audience of young Indian women and men turning to her…
Author: Olivia Martinez
A $1 million settlement for a company with annual revenues of $270 million is not usually enough to bat an eyelash, except when it has to do with North Korea. The U.S. Office of Foreign Assets Control says e.l.f. Beauty imported 156 shipments of false eyelash kits, valued at $4.43 million, from two suppliers located in China, and those eyelash kits contained materials the Chinese suppliers sourced from North Korea. The eyelash kits were imported approximately from April 1, 2012 to Jan. 28, 2017. e.l.f. Beauty has agreed to pay $996,080 to settle its “its potential civil liability for 156 apparent violations…
A newly-created South Asia Pacific and Middle East market will account for the majority of L’Oreal’s new business over the coming decade — with men making up a big part of that, the French cosmetics giant has said. The combined geographical zone — dubbed internally as SAPMENA — will cover 35 markets across South Asia Pacific, the Middle East and North Africa. Headquartered in Singapore, the new zone comes in response to shared consumer trends and growth opportunities, said the region’s president Vismay Sharma. “This region, or SAPMENA as we call it … is going to be a major growth engine…
The cosmetics retailer on Thursday blew past quarterly estimates again, posting a 50% gain in sales. The company’s sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. That increase follows a staggering 76% jump in the year-ago quarter. CEO Tarang Amin told CNBC the company saw growth across its categories. He added that its Bronzing Drops serum quickly became a best seller on the company’s website after its launch during the quarter. Here’s how the cosmetics company performed compared with what Wall Street was expecting, based on a survey of analysts by LSEG:…
On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump’s chaotic economic agenda. The market that embraced Trump for most of his first term and in the lead-up to his second has turned on the president. The S&P 500 closed in correction territory Thursday, falling 10% from the all-time high it set just three weeks ago. The Dow is approaching correction too. The tech-heavy Nasdaq fell into a correction more than a week ago. And the Russell 2000, made up of smaller businesses, which are typically more exposed to shifting economic winds,…
Bonus season on Wall Street runs through March, and based on estimates released Wednesday morning, it has been a lucrative start to spring for the more than 200,000 people working for New York City-based securities firms. Their total bonus pool hit a record $47.5 billion, up 34% from last year, according to the office of New York State Comptroller Thomas P. DiNapoli. The average bonus paid to employees also hit a record high, at $244,700, up 31.5% from the year before. The big bonus payouts follow a 90% jump in Wall Street profits last year, DiNapoli said in a statement.…
Automakers Volkswagen and Stellantis have confirmed that their vehicles made in North America will be exempt from U.S. President Donald Trump’s newly rolled out 25% tariffs, while BMW says it will face levies, as European car manufacturers grapple with new trade rules. The newly returned White House leader has long been threatening to slap tariffs on major U.S. trading partners, including Canada, Mexico and the EU. Last week, new duties on goods from Mexico, Canada and China came into effect. The threat of import tariffs has raised alarm bells in Europe, as vehicles and machinery are the European Union’s biggest exports to the United States. In 2023, the EU…
A car company boss says a new import tariff of 25% on cars and car parts coming into the US would be a “significant shift” for the business. Morgan Motor Company in Malvern exports around 200 sports cars to the US every year, which makes up around a third of its overall revenue. US President Donald Trump announced on Wednesday that the new tariff would come into effect on 2 April. Managing director Matthew Hole said the move would have an impact on the company. “It’s a big chunk of our business; we make a £55m turnover a year so,…
US tariffs on imported steel and aluminium have “spooked” customers of British steel, according to Tata Steel UK. Chief executive Rajesh Nair told MPs some American customers were seeking other suppliers to avoid “tariff warfare”. Tata Steel operates the UK’s largest steelworks in Port Talbot and exports around $100m (£77m) of steel annually to the USA. The company told the business and trade committee there was also a “significant impact” from cheaper steel from around the world being diverted to the UK because of the US tariffs. On 12 March the USA imposed 25% tariffs, or import taxes, on steel…
President Donald Trump on Wednesday announced 25% tariffs on all cars shipped to the United States, a significant escalation in a global trade war. The tariffs, set to take effect on April 3 at 12:01 am ET, are aimed at expanding America’s auto manufacturing prowess. For decades, because of a free trade agreement, automakers have treated Canada, Mexico and the United States as one big country, with no tariffs among them. Although the United States is home to a significant automaking industry, Trump wants to grow it. “Frankly, friend has been oftentimes much worse than foe. And what we’re going…