Unilever acquiring TIGI professional hair product business
ENGLEWOOD CLIFFS, N.J. Unilever, whose hair care brands include Dove, Suave and Sunsilk, is stepping into the premium hair care business by agreeing to buy the TIGI professional hair product business and its supporting education academies for $411.5 million in cash.
“We already have a strong position in daily hair care and adding the salon brands will further our position in the hair category. We can bring our world-class R&D expertise to it and offer greater opportunity for geographical expansion. TIGI’s strength in styling, and its fashion and beauty expertise will also help us raise the bar on innovation for our existing hair brands,” stated Vindi Banga, Unilever president of foods, home and personal care.
The deal, which is subject to regulatory approval, is expected to be completed by the end of March.
Upon completion of the transaction, TIGI will operate as a stand-alone global business unit within Unilever, reporting to Michael Polk, president of Unilever Americas.
TIGI’s major brands include Bed Head, Catwalk and S-Factor. TIGI, which launched in 1986, has operations in the United States, United Kingdom, Italy, Germany and Australia. It employs about 550 people and, in 2008, generated worldwide sales of approximately $250 million, with nearly half coming from the United States.
The transaction does not include the Toni & Guy salon business.
TIGI has been owned and run by Bruno, Guy and Anthony Mascolo, creators of Toni & Guy ‹ with their brother Toni — who are CEO, chairman and worldwide creative director of TIGI, respectively. As part of an exclusive consulting agreement with Anthony and Bruno, Anthony will continue to work in the business in his creative role and Bruno will continue to be an advisor.
Sephora seeks Times Square store opening
NEW YORK Beauty retailer Sephora is looking to open a flagship store in Times Square this summer, according to a local news report.
Sephora has signed on to open a 12,000-sq.-ft., three-level store at 5 Times Square, according to a report by GlobeSt.com, which serves the real estate industry. The space, which has an annual asking rent of $4.2 million, was vacant due to the bankruptcy of Times Square Brewery, its former tenant.
The flagship location is expected to carry product lines not found in any other Sephora store.
Beautology Brands, Daisy Fuentes unveil ethnic hair care line
CHICAGO Hair care company Beautology Brands is expanding its portfolio with the addition of the new Daisy Fuentes Style Pro line, an ethnic hair care line developed in partnership with the Cuban-American model and actress.
“Daisy has and continues to play an integral role in every aspect of the brand from formulations to packaging to advertising. She has a wealth of knowledge to share from her years of hands-on experience with the world’s top beauty and fashion experts,” stated Stuart Straus, CEOand president of Beautology Brands, which he founded in 2006.
The new paraben and sulfate-free collection is comprised of nine SKUs, including Smooth & Straight Conditioner and Shampoo; Curls & Waves Shampoo, Conditioner and Mousse; Ultra Deep Conditioner; All Day Hair Spray; Straightening Blow Dry Flat Iron Finishing Spray; and High Shine Finishing Spray. Prices range between $7.99 and $9.99.
In addition to the launch of the Daisy Fuentes Style Pro line, Beautology Brands is debuting in 2009 its Big Colour on the Charles Worthington London front. Big Colour has a dual benefit of volumizing plus color protection/enhancement.