L’Oreal USA to acquire Essie
NEW YORK L’Oreal USA has signed an agreement to acquire the Essie cosmetics business, a move that will bolster L’Oreal’s share in the nail color and care market.
Financial terms of the deal were not disclosed. The acquisition is expected to be completed within 60 to 90 days, and is subject to customary U.S. and international regulatory approvals.
Essie Weingarten founded the Astoria, N.Y.-based company in 1981 and still serves as the company’s president today. The company offers a growing line of nail colors, treatments, accessories, spa products and lip glosses. Essie’s net sales through the last 12 months were $28 million.
“This strategic acquisition will enable L’Oreal to increase our share in the nail color and care market, which has seen significant growth year over year,” stated Frederic Roze, president and CEO of L’Oreal USA.
Weingarten and Max Sortino, CEO of Essie, will continue to play a pivotal role under a multi-year agreement. “It’s a perfect match,” stated Weingarten. “This acquisition presents a tremendous opportunity to allow the Essie brand to grow even stronger. With Max and me as part of the team, we will be able to provide our customers with a greater level of service as we take the brand to new heights.”
Elizabeth Arden to develop, market, distribute John Varvatos fragrances
NEW YORK Elizabeth Arden has inked an exclusive global licensing agreement with John Varvatos Apparel Group for the development, marketing and distribution of John Varvatos men’s and women’s fragrances.
The John Varvatos fragrance collection currently includes the original John Varvatos classic fragrance, which was launched in 2004, the John Varvatos Vintage fragrance and the recently launched John Varvatos Artisan fragrance. The fragrances are currently sold primarily in U.S. prestige department stores and to select markets internationally.
The previous licensee for John Varvatos fragrances and skin care was Shiseido Americas Corp. Shiseido will continue to sell the John Varvatos fragrances until June 30, 2010.
“John has established a premier men’s designer fragrance business in the United States and is one of the most dynamic men’s fashion designers. We are excited to take the fragrance business to another level and expand the franchise,” stated Ron Rolleston, EVP of global fragrance marketing. “This license provides us the opportunity to grow our market share of the men’s fragrance market with an already existing and successful men’s designer fragrance brand and leverage the growing awareness of the John Varvatos fashion line.”
Say goodbye to stink with new Old Spice Odor Blocker body wash
CINCINNATI Procter & Gamble’s Old Spice brand has introduced new Odor Blocker body wash to detect, neutralize and protect guys from all kinds of body odors for 16 hours.
The Odor Blocker launch was kicked off with a series of new commercials, starring Terry Crews, which re-enforces the long-lasting power of the new body wash.
Odor Blocker combines a clean scent to keep guys smelling and feeling fresh throughout the day. The formula is designed with a proprietary, breakthrough technology to stop odor — before it starts — by targeting and neutralizing the source.
Old Spice Odor Blocker now is available with a suggested retail price of $3.99 for a 10-oz. bottle.