FT News Briefing How the beauty industry left Revlon behind
Jun 30, 2022
Chinese stocks are soaring, marking their biggest monthly rise since 2020. Meanwhile, Meta is causing a stir by charging developers for VR apps. The beauty industry is witnessing a shift as Revlon's bankruptcy underscores the need for continuous innovation. Independent brands and online trends are reshaping the market, leaving Revlon struggling to keep pace while other firms thrive.
AI Snips
Chapters
Transcript
Episode notes
Chinese Stocks Rebound
- Chinese stocks are set for their biggest monthly rise since 2020, driven by easing COVID-19 restrictions.
- Investors are optimistic as outbreaks in major cities are under control and quarantine rules are relaxed.
Meta's VR App Store Fees
- Meta is charging developers high fees for VR apps, mirroring Apple's approach despite previous criticism.
- This frustrates developers who saw Meta as a potential ally against Apple's app store policies.
Revlon's Downfall
- Revlon's bankruptcy is partly due to debt from a leveraged buyout and failure to adapt to changing beauty trends.
- The rise of influencer-driven indie brands and online marketing has disrupted the industry.