Jimmy Choo’s Mellon named to board of directors at Revlon
NEW YORK Revlon announced on Monday that its board of directors has elected Tamara Mellon, president and founder of Jimmy Choo, as a new director.
The election of Mellon increases the size of Revlon’s board to 10 members and increases the number of independent directors to seven members. Revlon will continue to have a majority of independent directors on its board.
J. Choo Ltd., “Jimmy Choo”, is a manufacturer and international retailer of women’s shoes and accessories based in London, England. Mellon has served in a senior executive capacity with Jimmy Choo since its inception in 1996. She also serves on the board and on the creative advisory board of The H Company Holdings, a privately held holding company, which owns and manages the Halston fashion design company.
Commenting on the appointment of Mellon, Revlon chairman Ronald Perelman stated, “We would like to welcome Tamara to Revlon’s board and believe that the company will benefit greatly from Tamara’s experience and leadership. Tamara is an exceptional businesswoman with an extensive background in business development, management and the consumer market. The board and senior management look forward to working with Tamara and utilizing her expertise as we continue to build our brands and further strengthen our business to achieve our objective to generate sustainable, profitable sales growth.”
“I am thrilled to become a director of Revlon, an iconic brand in beauty and one that represents the image of a confident glamorous woman,” stated Mellon. “I look forward to leveraging my consumer insights and my experience in the luxury fashion business to help the company grow its Revlon brand, and its other strong brands around the world. Also, I am proud to be part of a company that does so much to benefit women’s health and related causes.”
Ascendia files for bankruptcy, Scheyer resigns
HAMILTON, N.J. Ascendia Brands, a maker of branded bath, health and beauty care products, has filed for bankruptcy protection under Chapter 11 and expects to sell the business before Sept. 30.
In addition, Steven Scheyer has resigned as president and chief executive officer of the company and as a member of Ascendia’s board. The company has appointed Douglas Booth, a partner in financial advisory firm Carl Marks Advisory Group, as chief restructuring officer. Marks will have overall responsibility for finance, sales, marketing and operations and will also oversee negotiations regarding a sale of the company.
Ascendia has entered an agreement with its senior secured lenders to provide a debtor-in-possession financing facility and plans to continue to operate in the ordinary course pending a sale. It is in discussions with prospective buyers and expects to complete a sale before Sept. 30.
The company’s decision to file for bankruptcy is a result of financial pressures from tightening credit markets, a strain on material flows and the liquidity impact associated with the Healing Garden brand re-launch.
“While many of Ascendia’s core brands have a very successful 50-year heritage and serve an important market niche, we have recently faced considerable challenges. After careful analysis, the decision was made to restructure the business through a Chapter 11 filing in order to streamline operations, refocus on our core profitable products and sell the company in order to better position the business for the future,” stated Booth.
The company plans to discontinue unprofitable products in order to focus on strong brands and high margin products within those brands and consolidate distribution centers.
Tom’s debuts aluminum-free deodorants
KENNEBUNK Tom’s of Maine, a maker of natural personal care products, has announced the launch of its new line of Sensitive Care aluminum-free deodorants:
Bay-Lime, Cucumber-Grapefruit and Fragrance-Free. The products are Kosher and Halal certified.
The company uses an environmentally friendly method called supercritical extraction to draw out the most effective elements from hops, which inhibit the growth of odor-causing bacteria and prevent odor naturally. The chamomile is extracted in a similar way and is used to soothe sensitive skin. According to the company, supercritical extraction does not generate chemical waste.
Tom’s of Maine products and packaging are designed to be sustainable and recyclable. Each year, the company uses packaging made of 100 percent recycled paperboard.