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Walgreens employs $2 million in tax savings to create more DC jobs

BY Michael Johnsen

MILWAUKEE — The Wisconsin Economic Development Corp. earmarked $2 million in tax credits for a Walgreens distribution center in DeForest, Wis., according to a report published Wednesday by the Business Journal Serving Greater Milwaukee

Walgreens plans to create 115 jobs as part of a program to employ and train people with disabilities by fall 2013.

The center supplies drug stores across Minnesota, Wisconsin, Illinois, Iowa and South Dakota. 

According to the report, the tax credits will be awarded annually based on job retention and job creation metrics.

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Tone teams up with pop duo Karmin to promote new body wash

BY Antoinette Alexander

SCOTTSDALE, Ariz. — Henkel’s Tone Body Wash is promoting its new Tone Ocean Therapy Body Wash by partnering with pop duo Karmin for the Tone Turn it Up! series this summer.

The Tone Turn it Up! series provides fans with exclusive access to Karmin while on tour with their newest single “A Cappella.” Fans can visit the Tone brand’s Facebook page for the chance to meet Karmin, as well as win such other prizes as CDs, concert tickets and Tone Ocean Therapy Body Wash.

“Tone Body Wash continues to find exciting ways to offer exclusive access to top music talent by partnering with celebrated musicians like Karmin. Through the Tone Turn it Up! series, fans are given a unique, behind-the-scenes look at how musicians amp up their day from the shower to the spotlight,” stated Stefan Schriefer, senior brand manager of the Tone brand at Henkel.

The summertime launch of the Tone Turn it Up! series coincides with the launch of new Tone Ocean Therapy Body Wash. Infused with such ingredients as sea kelp extracts and vitamin E, Tone Ocean Therapy Body Wash strives to evoke the luxury of a deep sea spa treatment in the shower.
 

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Coty prices IPO at $17.50 per share

BY Antoinette Alexander

NEW YORK — Coty announced on Thursday the pricing of its initial public offering of 57.1 million shares of its Class A common stock at a price of $17.50 per share.

Coty’s Class A common stock began trading on the New York Stock Exchange on Thursday under the ticker symbol COTY. As reported, the shares offered are being sold by existing Coty stockholders, and the beauty company will not receive any of the proceeds of the offering.

These existing stockholders also have granted the underwriters an option for 30 days to purchase an additional 8.6 million shares of Class A common stock at the initial offering price less the underwriting discount.

Michele Scannavini, CEO of Coty, accompanied by Coty’s executive committee and a group of business partners, celebrated the company’s first day of trading by ringing the NYSE Opening Bell and visiting the trading floor for the stock opening.

“Today marks an important milestone in the continued growth of Coty, as we list on the prestigious New York Stock Exchange,” Scannavini said. “We are proud of Coty’s many accomplishments and proven industry track record, and are enthusiastic to embark on this exciting new chapter.”

As of late morning, shares were trading at $17.22, down 1.6%.
 

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