Patriarch Partners names CEO to lead Jane Cosmetics, Stila Cosmetics
NEW YORK — Patriarch Partners, LLC a New York-based investment firm and holding company, has announced that Lynn Tilton, Patriarch’s founder and CEO, will assume the role of CEO for portfolio companies Stila Cosmetics and Jane Cosmetics, effective immediately.
Patriarch acquired Stila Cosmetics and Jane Cosmetics in April and December of 2009, respectively.
“I believe both brands, together, allow us to inspire the inner beauty in every woman. I have long believed that these companies are a platform to educate, enlighten and empower women. I am excited and honored to work more closely with these teams to be disruptive in our strategies and more innovative in our products,” stated Tilton. “I am grateful for the dedication, work ethic and innovation of the new operating teams.”
Tilton will oversee the day-to-day global business for both brands including sales, operations, finance, marketing, product development, and packaging. Reporting to the CEO, the executive leadership team is comprised of Michael Hughes, CFO; Menal Parikh, chief commercial officer; Cynthia Rapp, chief marketing officer; and Jill Tomandl chief creative officer.
Valeant announces CeraVe sunscreen line at New York event
NEW YORK — Canadian drug maker Valeant Pharmaceuticals North America announced Wednesday plans to launch a new sun care line nationwide in the spring.
CeraVe (pronounced "sarah-VEE"), which the company said marked its entry into the sun-care space, is currently available at mass merchandisers, supermarkets and retail pharmacies in the Sun Belt states and online, and Valeant plans to launch it around the country in April, VP and general manager for consumer products Alissa Hsu Lynch said at an event in New York to promote the line. Olympic swimmer Rebecca Soni has been hired as a spokeswoman for the line. The products are oil-free and include ceramides, which help to repair and restore the skin barrier.
Valeant Pharmaceuticals North America VP and general manager for consumer products Alissa Hsu Lynch introduces Valeant’s new CeraVe line of sun-care products. The company plans to launch the product line nationwide in April.
The line, available in SPF 30 and SPF 50 strengths, includes SKUs such as the lotion-based CeraVe SPF 50 Sunscreen for Face, another version for the whole body, a wet-skin spray and a sunscreen stick that allows application in frequently missed areas such as the hairline. The facial and body lotions, which the company said are water-resistant for up to 80 minutes in the SPF 50 form and 40 minutes in SPF 30, include Invisible Zinc, which uses micro-file zinc oxide to deliver a dry, clear finish to the skin; Invisible Zinc was originally an Australian product that Valeant had previously acquired.
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Revlon records 3.2% net sales increase for 2012
NEW YORK — Revlon today announced results for the year and the fourth quarter ended Dec. 31, 2012, with a 3.2% increase in overall net sales. Excluding unfavorable foreign currency fluctuations of $21.2 million, 2012 net sales increased by 4.8%.
"2012 was a very positive year," said Alan Ennis, Revlon’s president and CEO. "We delivered top line growth of almost 5%, reflecting the effectiveness of our strategy. From a marketplace perspective, we introduced new, innovative products, which, together with effective brand communication and strong in-store execution, drove positive performance of our Revlon-branded products in many of our key regions. Our financial performance was strong as we again maintained highly competitive margins and delivered $84 million of free cash flow. We are also very pleased with the integration and performance during the year of our SinfulColors and Pure Ice acquisitions."
The increase was primarily driven by higher net sales of Revlon color cosmetics, Revlon ColorSilk hair color and SinfulColors color cosmetics, as well as the inclusion of the net sales of Pure Ice, partially offset by lower net sales of fragrances and other beauty care products.
Net sales in the fourth quarter of 2012 were $391.3 million, an increase of $31.5 million, or 8.8%, compared to $359.8 million in the fourth quarter of 2011. Excluding unfavorable foreign currency fluctuations of $1.8 million, net sales increased by $33.3 million, or 9.3%.
“We are pleased with our performance in 2012, and as we enter 2013, we continue to focus on driving profitable growth,” Ennis concluded.