BEAUTY CARE

Grammy Award-winning artist Colbie Caillat named Lily.B Skincare ambassador

BY Antoinette Alexander

LOS ANGELES — Lily.B Skincare, a line of natural skin care products, has named Grammy Award-winning singer and songwriter Colbie Caillat as the brand’s official spokeswoman.

Caillat has entered into a multiyear agreement with Lily.B Skincare to promote its line of skin care products. Currently, the brand consists of the Essential 5 Collection, a three-step regimen created for women of all skin types. The products are formulated to cleanse, nourish and protect the skin. The Essential 5 Collection consists of rose hip-infused facial wash, red tea defense booster hydrating serum, multiaction rescue ultra eye cream, 24/7 defense daily moisturizer and botanical rich protection SPF 30 ultra defense.

"We are thrilled to have Colbie on the Lily.B team," stated Lily.B founder Liz Bishop. "Her amazing talent, energy and lifestyle make her the perfect partner as we continue to grow the Lily.B brand."

Caillat will be actively promoting Lily.B in its print, online, in-store and social media campaign, including a series of appearances on behalf of the brand.

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Leading Edge Innovations secures round of financing

BY Antoinette Alexander

NEW YORK — Investment firm J. Burke Capital Partners has increased its strategic investment into Leading Edge Innovations, a Branchburg, N.J., company that develops cosmetic formulas in skin care, sun care, hair care and other related categories for use in over-the-counter drugs and personal care products.

“JBCP has increased its investment into LEI because we see enormous potential for the use of MicroSperse technology in the personal care and other consumer product categories. This investment will create a strong operational platform at the company, which will enable significant market penetration and dramatic growth,” stated Chris Delaney, a senior associate at JBCP.

LEI uses its proprietary technique MicroSperse to formulate product components so that they mix without the use of chemical emulsifiers, many of which are on the Food and Drug Administration’s “Watch List” as potentially harmful, LEI stated.

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Avon taps former J&J executive to fill CEO role

BY Antoinette Alexander

NEW YORK — Avon, which recently rejected a bid from Coty, has ended its previously announced search for a new CEO by hiring former Johnson & Johnson executive Sheri McCoy to take the helm.

McCoy will assume her role as Avon CEO as of April 23. The appointment brings to a close a four-month search to replace CEO Andrea Jung. Jung will continue as chairman of the board.

“We believe McCoy was one of the key prior candidates to become CEO at J&J (Alex Gorsky was recently appointed J&J’s CEO in February), and based on positive investor feedback and a strong background is a strong addition to Avon’s management team. McCoy has both global (including Latin America) and turnaround experience at J&J, important attributes at Avon, although she does not have direct selling experience,” Morgan Stanley analyst Dara Mohsenian wrote in a research note.

McCoy assumes leadership of Avon following a 30-year career at J&J, where she rose to become vice chairman of the company’s pharmaceutical, consumer, corporate office of science & technology, and information technology divisions.

As previously reported, Coty submitted a nonbinding proposal to acquire Avon in a deal valued at about $10 billion; however, Avon has rejected the unsolicited bid. Coty stated that it has no intention of pursuing a hostile takeover but is making its proposal public in order to inform Avon’s shareholders of what it believes is “significant value” in a transaction.

Avon stated that Coty’s offer did not reflect the fundamental value of the company and its global beauty care franchise, and also stressed its commitment to hiring a new CEO. Avon stated that hiring a new CEO is a “greater opportunity to improve shareholder value in excess of Coty’s conditional indication of interest.”

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