Hong Kong’s Li & Fung acquires Lornamead
HONG KONG — Hong Kong-based Li & Fung — a multinational consumer goods sourcing, distribution and logistics group — has acquired Lornamead for about $190 million.
Lornamead owns and manages a portfolio of U.S., German and U.K. personal care brands — such as Finesse, Aqua Net, Yardley and Lypsyl — across hair, body, skin and oral care product categories. It has operating platforms in the United States, Germany and the U.K., and sells more than 20 brands in more than 60 countries to a variety of large retailers, including CVS and Walgreens in the United States; Rossmann and DM in Germany; and Boots, Tesco and Sainsbury in the U.K. Lornamead generated net sales of approximately $155 million in its financial year ended March 2012.
The transaction excluded cash on Lornamead balance sheet, the Yardley business outside the United States — which was sold by Lornamead in a separate transaction prior to this deal — as well as certain other operations that were retained by Lornamead shareholders.
“The acquisition of Lornamead will further expand our market share in the beauty business on a global basis,” stated Bruce Rockowitz, group president and CEO of Li & Fung Limited. “This is a very strong platform and will allow us to deepen our relationships with major retailers across all key markets and provide enormous cross-selling opportunities among our existing business networks. In addition, as we see increasing opportunities in the beauty business across Asia, this transaction will add a strong growth driver for LF Asia in the beauty and cosmetics arena.”
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Walmart announces launch of Drew Barrymore’s beauty collection
NEW YORK — It’s official. Actress Drew Barrymore — through a collaboration with Maesa, a creator and manufacturer of beauty products — is launching her new Flower cosmetics line in Walmart.
The new collection is comprised of 181 eye, face, lip and nail products ranging from $4.98 to $13.98, and will be available in more than 1,500 Walmart stores and on Walmart.com by the end of January.
Actress, producer, director and former co-creative director of her own CoverGirl campaign (2007 to 2012), Barrymore has a true passion for makeup. Flower encompasses her favorite cosmetics that she’s used throughout her career.
"Today, too many women overpay for quality makeup or make a unnecessary extra trip to a department store to purchase their cosmetics," stated Carmen Bauza, VP beauty and personal care at Walmart U.S. "This partnership will save our customers time and money. Flower is the premium cosmetics line our customers have been asking for, and is the newest addition to Walmart’s broad assortment of beauty products that help women feel beautiful at a great value."
As an owner of the brand, Barrymore takes pride in promoting Flower, which in turn allows the company to put all of its money into the formulations and packaging, and not into advertising, the company stated. The result: This saved revenue allows Flower to spend two to three times more on formulation and packaging than the average mass market brand, resulting. Flower is manufactured in the United States and not tested on animals
Drew will surely bring a great deal of attention to the brand. Too bad she did not focus on the formulations being natural with a name like Flower. Perhaps Walmart shoppers are not ready for naturals.
L’Oreal Paris USA celebrates launch of Advanced Haircare collection with Facebook giveaway
NEW YORK — L’Oreal Paris has officially unveiled a new franchise five years in the making — Advanced Haircare.
Designed to help American women change the life of their hair, this collection consists of shampoos, conditioners and hair treatments that promise to deliver instant results and lasting transformation. With seven treatments at the center of Advanced Haircare, L’Oreal Paris is encouraging women to adopt a three-step hair care routine — shampoo, condition and treat.
As a means to introduce America to Advanced Haircare, L’Oreal Paris is giving away one million product samples exclusively on the brand’s Facebook page on Jan. 15.
"With 1.7 million U.S. fans and over 14 million fans globally, Facebook has become the definitive location for women who love L’Oreal Paris to share, discuss and learn about the latest in beauty products. It’s great that L’Oreal Paris has chosen to utilize Facebook to give away these new Advanced Haircare products to one million of their biggest fans," stated Facebook VP of global marketing solutions and head of U.S. Sales Tom Arrix.
L’Oreal Paris developed the five modules of Advanced Haircare based on the top hair care concerns of American women, as shown by market research conducted by the brand: Total Repair 5 for damaged hair, Smooth Intense for frizzy hair, Power Moisture for dry hair, Color Vibrancy for color-treated hair and Triple Resist for breakage-prone, weak hair.
All five modules feature Arginine-K Complex. The Arginine-K Complex in the five individual modules is paired with customized actives that tailor each formula for particular hair needs and types, the company stated.
To personalize the regimen, the treatments within Advanced Haircare comprise of two rinse-out masks, three lightweight leave-in sprays, a serum and a creme formula.
"Right now, U.S. women believe that only skin care warrants an ongoing regimen. They see hair as a quick fix, when really, hair deserves and needs the same multi-step approach as skin care to be at its best," stated Karen Fondu, president of L’Oreal Paris USA. "Behind Advanced Haircare is a technology with highly efficacious formulas to meet the specific needs of U.S. consumers."
Actress Lea Michele is the L’Oreal Paris spokesperson for Advanced Haircare’s Total Repair 5 line.
The entire Advanced Haircare collection is now available at drug stores and mass retailers nationwide. All shampoos and conditioners have a suggested retail price of $4.99. Advanced Haircare Treatments are $6.99.
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