Tenne Cosmetics, Murad Inc. announce partnership
ROTTERDAM, Netherlands Tenne Cosmetics has reached a deal with Murad Inc. to broaden the distribution of the Murad skin care brand into the Netherlands.
The five-year partnership with Murad marks an opportunity for Tenne to introduce the brand to a new European audience. Murad is currently sold in 45 countries and, within the United States, is sold at several U.S. retailers including Ulta and Sephora.
“Tenne Cosmetics provides a range of experience and philosophy on innovative and effective beauty products that fits well with our growth plans in Europe,” stated Richard Murad, Murad’s COO and general counsel. “The Tenne team brings premier industry focus, knowledge and professionalism that is critical to our mutual success. With the signing of this agreement, we have completed a major step in our global distribution strategy.”
Nestle SA, Bettencourt family to work on L’Oreal after stakes expire
PARIS Nestle SA and France’s Bettencourt family will continue to work together on beauty company L’Oreal after their stakes in the company expire April 29, according to published reports.
Both Nestle and Bettencourt own about 30% stakes in L’Oreal and industry observers have been speculating on what Nestle might do with its stake when the shareholder pact expires.
According to a Reuters report, the two parties said in a joint statement, “The Bettencourt family and the Nestle company will continue on acting in concert towards the L’Oreal company beyond 29 April 2009.”
The report also quoted a Nestle spokeswoman who said, while there is no immediate need to act, the future of the firm?s involvement in L’Oreal is a high priority for the board.
Under the current agreement, Nestle is not able to snap up more L’Oreal shares until six months after the death of Liliane Bettencourt, the 86-year-old billionaire daughter of the firm’s founder. It also has right of first refusal if the family wants to sell up.
Johnson & Johnson reports decline in Q1 earnings
NEW BRUNSWICK, N.J. Even the big brands are feeling the economic slump.
Johnson & Johnson announced Tuesday sales of $15 billion for the first quarter of 2009, a decrease of 7.2%, compared with the first quarter of 2008.
Operational results declined 1.2% and the negative impact of currency was 6%. Domestic sales declined 5%, while international sales declined 9.6%, reflecting operational growth of 3% and a negative currency impact of 12.6%.
Net earnings for the first quarter of 2009 were $3.5 billion, representing a decrease of 2.5%, compared with the same period in 2008. Diluted earnings per share for the first quarter of 2009 were $1.26, the same versus a year ago. The company confirmed its earnings guidance for full-year 2009 of $4.45 – $4.55 per share, which excludes the impact of special items.
“Despite challenging economic and near term business pressures, we continue to deliver solid financial results,” said William C. Weldon, chairman and CEO. “We are continuing to make strategic investments in order to bring important new products to market, positioning us well for long-term growth.”
Worldwide consumer sales of $3.7 billion for the first quarter represented a decrease of 8.7%, versus the prior year with a decline of 1% operationally and a negative impact from currency of 7.7%. Domestic sales decreased 5.1%, while international sales decreased 11.6%; which reflected an operational increase of 2.4% and a negative currency impact of 14.0%.
Listerine antiseptic mouth rinse, and skin care lines of Neutrogena and Aveeno, had strong sales performance during the quarter. Also contributing were sales from the recently completed acquisition of Dabao, the leading moisturizer in China. Sales comparisons were negatively impacted due to the initial build of inventory by the trade related to the 2008 launch of Zyrtec.
Meanwhile, worldwide pharmaceutical sales of $5.8 billion for the first quarter represented a decrease versus the prior year of 10.1% with an operational decline of 5.1% and a negative impact from currency of 5%. Domestic sales decreased 9.7%, while international sales decreased 10.7%; which reflected an operational increase of 2.8% and a negative currency impact of 13.5%.