Former Mars executive joins Coty’s board
NEW YORK — Beauty brand Coty has added Paul Michaels, former global president of Mars to its board of directors.
“Paul S. Michaels is one of the most highly respected leaders in the consumer goods industry and we are excited to add him to Coty’s Board of Directors,” Bart Becht, chairman and interim CEO of Coty, said. “His expertise and creativity in working with global brands will be a tremendous asset to the company as we continue to pursue our strategy of returning Coty to profitable growth behind its brand building and efficiency programs.”
During his time at Mars, he led efforts to strengthen the company’s portfolio of businesses through brand revitalization and product innovation. He began his career at Procter & Gamble and later moved to Johnson & Johnson, where he spent 15 years building many of the company’s flagship brands. This included building and positioning as global leaders Johnson & Johnson’s health and beauty products such as Band-Aid Brand Adhesive Bandages, Reach toothbrushes and Johnson’s Baby Shampoo, among others.
“I have admired Coty for a number of years and I am looking forward to working with my fellow directors to help guide Coty to its next phase of growth,” Michaels said. “I have immense respect for Bart and his colleagues and feel that Coty is poised to enhance its leadership position in the global beauty industry.”
General Atlantic to acquire majority stake in Too Faced Cosmetics
IRVINE, Calif. and NEW YORK — Beauty brand Too Faced Cosmetics has announced that General Atlantic will acquire a majority stake in the company from Weston Presidio.
"We are so grateful to our loyal Too Faced customers who have fueled our growth from a small indie brand to a fixture within the beauty industry. To continue our growth trajectory, we were seeking a global thought leader experienced in partnering with founder-led, high growth companies, and the team at General Atlantic was a natural fit. Their experience will help us accelerate our expansion as we invite even more women around the world to 'own their pretty,’” stated Jeremy Johnson, co-founder and CEO of Too Faced.
Jerrod Blandino and Jeremy Johnson were both working behind cosmetics counters at major department stores when they created Too Faced in 1998.
"We always dreamed that Too Faced would grow into the global brand and industry leader that it is today. After 17 years, we feel blessed to still be passionate about what we do and have fun doing it," Jerrod Blandino, co-founder and chief creative officer, added. “We have so much admiration and respect for our "Too Faced Girl" and with General Atlantic's partnership, we're excited to continue making high quality makeup that she loves to wear.”
In conjunction with General Atlantic's investment, beauty industry veteran Ken Stevens will join as Too Faced's chairman, bringing a wealth of experience as former chairman of Ulta Beauty, former CEO of philosophy, and former president of Bath & Body Works. Andrew Crawford and Andrew Ferrer, both senior leaders on General Atlantic's Global Retail and Consumer sector team, will also join the board of directors.
The Too Faced founders and senior management team will retain significant ownership in the company.
Fitness guru Jillian Michaels to expand licensing portfolio with beauty products
NEW YORK — Health and wellness expert Jillian Michaels has teamed up with Shark Branding’s licensing division to secure licenses in North America in such categories as cosmetics, skin care and hair care.
"The goal is to continue to position Jillian as more than just a health and fitness guru, with expertise extending to all aspects of living well," stated Daymond John, Shark Branding founder and CEO and co-star of “Shark Tank.”
In partnership with Empowered Media, which was launched by Michaels with business partner Giancarlo Chersich with the goal of creating total life solutions that involve all aspects of living well, Shark Branding will work with Empowered Media to secure licenses in North America and internationally. Categories in the North American market will include swimwear, eyewear, fragrance, cosmetics, skincare, hair care, food appliances, household cleaning products and more. Internationally, categories will encompass all of those in the North American market and will extend to active wear and accessories.
Perhaps best known for her role as trainer and life coach on NBC's long-running weight loss show, The Biggest Loser, Michaels will appear this fall on Spike TV's “Sweat Inc.” In addition, "Just Jillian" a docu-follow series on E! will premiere January 2016. Her reach extends to many other media portals, from her podcast, touring business and her fitness DVD's and books.