Natura Blisse Has a 'Cure'
IRVING, Tex. — With the launch of The Cure day facial cream in August, Natura Bissé is maneuvering to capture a broader customer base.
The Cure is $190 for 1.7 ounces — not cheap, but more accessible than the company’s premium restorative moisturizer, the $318 Diamond Extreme Cream.
The Cure represents the top price in a line of products that the company considers “essentials,” including dozens of items priced from $35 to $77, some of which are subbranded Oxygen and C+C.
“We have to show our product specialists that we have the opportunity to develop new customers,” said Patricia Fisas, chief executive officer of Natura’s U.S. division and daughter of company founder Ricardo Fisas. “Hello, we have other things. The Cure will help a lot, and we are relaunching our vitamin C products in October with streamlined packaging.”
The Cure is designed as an all-in-one cream to repair cellular damage by activating the production of sirtuin enzymes in the skin, moisturize and fight free radicals, Fisas explained. It is projected to do $2 million its first year.
“This is like taking your skin to the spa to restore balance and prevent aging,” said Fisas. “It’s the top rung for our essentials products.”
Natura has only three items branded Essential, but Fisas applies the term “essential” to Natura treatments that retail under $200.
“We can get more customers with the essentials,” she said. “It is not a Diamond season for us.”
Fisas said she feels the company has put so much emphasis on luxury launches, including the $715 Inhibit Tensolift plumping serum, that it is missing out on business in treatments that constitute the majority of the line.
“We can compete with Clarins, Lancôme [and] Estée Lauder in better prices,” noted Jose Borrell, chief operating officer of the U.S. division and Fisas’ husband. “We know our products are effective. But we have to change the mind-set of our employees.”
This doesn’t mean the company will tweak its luxury image or U.S. distribution strategy, which is limited to Neiman Marcus Group, Barneys New York, about 50 handpicked independent fashion and beauty stores and a few spas.
Based in Barcelona, the company’s fastest growing markets are the U.K., where it was launched in 60 Space NK stores this year, and the Middle East. Natura is also gaining distribution in Asia, Japan and Europe.�
OFI Buys Majority Stake in Dessange
PARIS — OFI Private Equity Capital has acquired 65 percent of hair care and beauty salon concern Dessange International for approximately 80 million euros, or $124.4 million at current exchange, from company founder Jacques Dessange, his partners Daniel Conte and Michel Cauvin and Naxitis Group.
Dessange retains 20 percent of the firm and remains a strategic adviser to the company’s management team, comprising Benjamin Dessange, Bernard Sagon and Frédéric Moréno, who together hold a 15 percent stake in Dessange International.
The company, founded in 1954, has three salon brands — Dessange, Camille Albane and Frédéric Moréno — which make up a franchised network of more than 1,000 salons, of which 40 percent are outside of France, in 40 countries.
Dessange-branded products also exist. L’Oréal has the license for the supermarket hair care brand Compétence Professionnelle Dessange, and it is the exclusive supplier to Dessange and Frédéric Moréno salons. Procter & Gamble, through its Wella brand, supplies exclusively to Camille Albane salons. In house, Dessange International has created numerous product lines, including Phytodess and Camille Albane hair care and Dessange makeup and beauty care.
Globally, the Dessange brand generates more than 700 million euros, or $1.09 billion, annually.
In 2007, Dessange International posted revenues of 55 million euros, or $85.6 million, at average exchange for the period.
“OFI Private Equity Capital will accompany an ambitious development plan in France and throughout the world: the opening of new franchised salons of the group’s three brands, and the sales development of group-branded products sold directly in franchised salons and through specialized distribution networks,” stated OFI.
Clarins Tender Offer OK'd by AMF
PARIS — The Autorité des Marchés Financiers, France’s stock market regulator, gave the green light Friday to Financière FC’s tender offer on Groupe Clarins. As reported, in late June, Financière FC, the holding company of the Courtin-Clarins family majority shareholders in Clarins, filed a public offer with the AMF proposing to pay 55.50 euros, or $86.36 at current exchange, a share for the stake it doesn’t already own. On July 31, Financière FC owned 55.17 percent of Clarins’ capital and 62.16 percent of its voting rights. The Courtin-Clarins family will bring its shares, representing 33.63 percent of Clarins’ capital, to the offer, the AMF stated. The offer could reportedly run from Wednesday to Sept. 16.
Major Mideast Push for Neal's Yard
LONDON — Neal’s Yard Remedies is branching out to the Middle East. The natural beauty brand has inked a licensing agreement with Kamal Osman Jamjoom Est, a United Arab Emirates-based retail and manufacturing group, which will oversee 50 Neal’s Yard store openings in the region over the next five years. A debut store is slated to open in Dubai this fall and will be followed by doors in shopping malls in the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain.
“The Middle East presents a huge growth opportunity for us, and we are delighted that we have found such an experienced and like-minded partner to help us launch Neal’s Yard Remedies in the region,” stated Jonathan Hook, Neal’s Yard’s managing director, referring to Kamal Jamjoom, founder of Kamal Osman Jamjoom Est, who also established The Body Shop there. “Our goal is to become the leading premium organic beauty brand globally, and this is a very important step in that journey.”
The deal will “act as a showcase for Neal’s Yard Remedies’ further expansion plans with like-minded potential partners across the world,” the company stated, adding it aims to open in up to 10 international markets. Other markets under consideration include America and Thailand.
“We are very excited about bringing Neal’s Yard Remedies to the Middle East,” stated Jamjoom, who came into contact with the brand when vacationing in the U.K. “The region is going though a very exciting retail growth phase, and the organic remedies and herbs fit well with our culture.”
Neal’s Yard Remedies, which was founded in Neal’s Yard in London’s Covent Garden, is known for natural products packaged in distinctive blue bottles.
Charlotte Russe's Mogil Adds to Duties
The responsibility is piling up on Len Mogil. The interim chief executive officer and board member of Charlotte Russe Inc. added interim chief financial officer to his titles Friday. He takes over the number-crunching responsibilities from Patti Johnson, who resigned effective Aug. 14. A search for a permanent replacement is under way.
Just two weeks ago, Mogil, a former Phillips-Van Heusen Corp. executive, took over the ceo duties from Mark Hoffman, who retired. Mogil will lead the 469-door chain in a time of considerable flux.
Patti Shields, executive vice president and general merchandising manager, also resigned effective Aug. 14. Kara Stangl and Jennifer Mitchell, each of whom was a vice president, were both promoted to senior vice president of merchandising and will together direct the chain’s merchandising until a permanent replacement for Shields is found.
In addition, Edward Wong, executive vice president and chief supply chain officer, was named chief operating officer. Zina Rabinovich was promoted to senior vice president from vice president. She remains corporate controller.
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