Inter Parfums to acquire Rochas brand from P&G
NEW YORK — Inter Parfums has announced that its majority owned Paris-based subsidiary, Interparfums S.A., has entered into an agreement with Procter & Gamble to acquire the Rochas brand.
Founded by Marcel Rochas in 1925, the brand began as a fashion house and expanded into perfumery in the 1950s under Hélène Rochas' direction. The Rochas brand achieved net sales of $46 million in the 2013/2014 financial year, driven mainly by the "Eau de Rochas" fragrance line. Rochas brand sales include $2 million of royalties generated by the fashion and accessory business via its portfolio of license agreements.
This transaction will cover all brand names and registered trademarks for Rochas (Femme, Madame, Eau de Rochas, etc.). The acquisition will be payable in cash on the closing date for $108 million and financed entirely through a medium-term loan, the company stated.
This transaction is expected to be completed within the first half of 2015, subject to customary closing conditions.
"For the first time, this acquisition will integrate both fragrances and fashion. It will open up new opportunities in terms of creativity as well as aesthetic design and marketing choices. It will also allow us to apply a global approach to managing a fragrance brand boasting very high name recognition and without time constraints. Finally, this acquisition has generated enormous enthusiasm internally and high motivation by all to reestablish Rochas' position, even more preeminent in the universe of luxury. Under Interparfums, we could generate approximately €25 million of sales in 2016,” stated Jean Madar, chairman and CEO of Inter Parfums.
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Walgreens unveils new CIRCA beauty line
NEW YORK — Walgreens today unveiled its CIRCA line of cosmetics at Duane Reade’s 40 Wall Street location in Manhattan.
Created with beauty company Maesa, CIRCA features 133 SKUs to meet the varying needs of a multicultural market, with shades designed to work across the lightest and darkest of skin tones through the use of high-performance formulations, rich pigments and innovative technologies offered at more affordable prices.
The portfolio of products is available at Walgreens’ and Duane Reade’s top 3,000 beauty doors, as well as on Walgreens.com and drugstore.com.
To read more about CIRCA, including creative director Eva Mendes’ take on the new line, click here.
To learn more about Walgreens’ journey to transform its beauty offer, download DSN‘s exclusive Walgreens Goes Big in Beauty report.