Good morning, Broadsheet readers! Jane Fraser's Citigroup is delayed in its China expansion plan, the Women’s Super League agrees to a record deal with Barclays, and a beauty brand tries to cut down on its industry's waste. Have a terrific Tuesday.
- Beauty biz. The $430 billion global beauty industry produces an estimated 120 billion units of trash each year—waste that piles up even as “clean beauty,” which mainly refers to a product’s ingredients, takes off with consumers.
Laney Crowell, an alum of Estée Lauder, founded the brand Saie in 2019 in an effort to meet consumers' demand for a sustainable beauty brand. Backed by Unilever Ventures and G9 Ventures, the brand is popular on social media and sold at Sephora. While some might question whether adding more products to the world ultimately helps the industry’s waste issue—even if those products are more sustainability produced—Crowell argues that setting an example can have “massive ripple effects” that push the industry forward.
