Quinn Murphy, a makeup artist who has worked with the likes of Kate Hudson, Karlie Kloss and Natalie Portman, is launching a beauty brand called Spatch on May 4, 2024.

The line will include six shades of Invisible Spot Fix, a new kind of spot-concealing product – the brand name, Spatch, is a play on the “patch” feature on the photo retouching app Facetune that allows users to quickly remove blemishes.

Unlike traditional concealers, Invisible Spot Fix, $29, is powder-based, not cream, and works to neutralise imperfections by colour correcting, rather than simply masking. “The [spot] could be rosacea, acne, dark spots, bruises, anything,” said Murphy. Because the product doesn’t conceal in the traditional sense, the shade selection is different, with more of a focus on correcting the imperfection, not matching the skin. “The colour of your spot is not the colour of your skin,” said Murphy, explaining that green-toned products work better for concealing red spots, while orange or peachy tones work to correct grey or blue areas.

A primer with salicylic acid, an alcohol-free setting spray and a dedicated application tool will also be available, with prices between $16 - $38. The range will be manufactured in Los Angeles and in Taiwan. Products will be sold directly to consumers via Spatch’s website, and Murphy is self-funding the launch.

It will initially be available only in the US and Canada, but Murphy hopes to offer international shipping and add more products. Wholesale distribution may be a consideration, with Murphy considering dermatologists’ offices over specialty retail for the time being, given how many people visit dermatologists with skin concerns.

Murphy expects the line to be popular with younger consumers, but also with men. “When I show this to anybody under 30…they tacitly understand it. Investors are typically older… they’re used to Chanel [or other luxury brands]. They want a beauty experience that’s not yet in their imagination,” said Murphy.

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Pandora A/S rose the most in almost six months after the jewellery brand lifted its revenue guidance for this year, thanks to growing sales of lab-grown diamonds.

The Danish company, which makes more pieces of jewellery than any other in the world, said organic sales are projected to rise 8-10 percent this year, up from the 6-9 percent previously expected.

The shares advanced as much as 6.6 percent in Copenhagen, for the biggest intraday rise since Nov. 8. The shares are up more than 80 percent in the past 12 months.

Pandora’s first-quarter results confirm the business is in strong shape, analysts at Jefferies in a research note.

Sales of lab-grown diamonds surged 87 percent in the first quarter, the company said. Gross margins reached a record 79 percent, boosted by higher prices and the benefits from silver pricing and favourable foreign exchange rates.

While jewellery markets generally remain subdued, the company’s ongoing brand investments have allowed it to take market share, said CEO Alexander Lacik in the earnings release.

Pandora has previously said it’s targeting more than 1 billion kroner ($143 million) in revenue in the lab-grown diamond segment by 2026.

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Estée Lauder lowered its annual organic sales estimate on persistent softness in Mainland China’s prestige beauty space, even as a demand rebound in the US and Asia-Pacific markets drove a profit forecast raise.

Shares of the New York-based company dropped 5 percent in pre-market trading on Wednesday.

Estée also beat Wall Street targets for third-quarter results, hinting at a recovery in demand for beauty and cosmetic products in the US after a long bout of inflation had pressured sales of luxury items in the world’s biggest economy.

A pick-up in China demand after several quarters of weakness also underscored customer willingness to splurge on “affordable luxuries” such as fragrances and make-up products.

“Estée Lauder’s management might have taken the view it is better to be cautious now and over-deliver, than continue with high expectations and fail to sell enough products,” said Dan Coatsworth, investment analyst at AJ Bell.

The company expects annual organic sales to fall 1 percent to 2 percent, compared with its previous forecast for a 1 percent decrease to a 1 percent increase.

Third-quarter organic net sales in the Americas grew 1 percent, with a 3 percent rise in the Asia Pacific region.

Last month, European rival L’Oréal also beat sales expectations and eased concerns about waning demand in the US and China - the two biggest beauty markets.

“The sector has held better than I expected and the question really around luxury and personal luxury goods is whether 2024 will be a hard or soft landing ... so far it speaks to the narrative of a soft landing,” said Javier Gonzalez Lastra, luxury-focused portfolio manager at Tema ETFs.

Estée now expects full-year 2024 adjusted profit per share between $2.14 and $2.24, compared with a prior forecast of $2.08 to $2.23.

Net sales rose 5 percent to $3.94 billion, compared with LSEG estimates of $3.91 billion. Adjusted profit of 97 cents per share surpassed expectations of 49 cents.

By Ananya Mariam Rajesh; Editing by Devika Syamnath

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Mulberry, the luxury British brand best known for its leather handbags that can cost more than £1,600 ($1,998) each, has reported a 4 percent decline in annual sales, becoming the latest high-end company to warn of a slowdown in spending among the richest shoppers.

In a trading update, Thierry Andretta, the chief executive, said: “While we achieved positive revenue growth in the first half, Mulberry has not been immune to the broader downturn in luxury spending experienced in recent months, particularly in the UK and Asia. This decline was partially offset by positive trading in the US, where we have benefited from increased brand awareness.

“Looking ahead, the trading environment in the UK and China remains challenging and we do not expect this to change in the short-term. We are therefore managing the business prudently, focusing on executing our strategy and vision to become a global sustainable luxury brand,” Andretta added.

The company, which was founded in 1971 by the entrepreneur Roger Saul and his mother, Joan, said international sales had increased by 7.2 percent but UK retail sales had dropped by 3.2 percent in the year to the end of March.

The share price, which has fallen by almost 60 percent so far this year, declined by a further 4.5 percent in early trading on Wednesday.

In January, Mulberry blamed the slowdown in demand for luxury spending and a lack of VAT-free shopping for a 9 percent decline in sales over its “golden quarter,” which included the Christmas shopping period.

“In the UK, we continue to believe the lack of VAT-free shopping is impacting the retail landscape, as well as the hospitality, leisure and tourism sectors,” Andretta said at the time. “Looking ahead, we are continuing to execute our plans and remain confident that our investments will underpin future sustainable growth.

“In the run-up to Christmas, the macroeconomic environment continued to impact consumer spending in the luxury retail sector, which Mulberry was not immune from.”

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