Hard Candy Return To Prestige Teen Roots On Track Under The Falic Group
This article was originally published in The Rose Sheet
Executive Summary
The Falic Group, the new owner of Hard Candy, intends to move forward with plans initiated under the ownership of LVMH to return the brand to its "prestige teen" roots, according to the brand's new Creative Director Wende Zomnir
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Urban Decay
Castanea Partners will broaden the existing Urban Decay product line and expand it into new markets following its acquisition from The Falic Group, the private-equity firm reports March 30. Urban Decay, a line of premium color cosmetics known for its alternative spin on beauty, has more than 300 SKUs in specialty retailers such as Sephora and Ulta Beauty and in better department stores. Terms of the deal were not disclosed. Urban Decay General Manager Tim Warner, co-Founder and Executive Creative Director Wende Zomnir and worldwide retail director and international makeup artist Eric Jimenez will continue to serve the company in their respective roles. "As we continue to grow and add new channels of distribution, Castanea will help us build the infrastructure to meet that demand and realize exciting growth opportunities," Zomnir says. The Falic Group purchased Urban Decay from LVMH in 2002 (1"The Rose Sheet" May 12, 2003, p. 9)
Urban Decay
Castanea Partners will broaden the existing Urban Decay product line and expand it into new markets following its acquisition from The Falic Group, the private-equity firm reports March 30. Urban Decay, a line of premium color cosmetics known for its alternative spin on beauty, has more than 300 SKUs in specialty retailers such as Sephora and Ulta Beauty and in better department stores. Terms of the deal were not disclosed. Urban Decay General Manager Tim Warner, co-Founder and Executive Creative Director Wende Zomnir and worldwide retail director and international makeup artist Eric Jimenez will continue to serve the company in their respective roles. "As we continue to grow and add new channels of distribution, Castanea will help us build the infrastructure to meet that demand and realize exciting growth opportunities," Zomnir says. The Falic Group purchased Urban Decay from LVMH in 2002 (1"The Rose Sheet" May 12, 2003, p. 9)
LVMH sheds Hard Candy, Urban Decay
Miami, Fla.-based Falic Group, owner of Duty Free Americas chain, acquired niche prestige cosmetics brands Hard Candy and Urban Decay from LVMH in December, luxury goods manufacturer says. Hard Candy has had difficulty defining its position in the market and registered a revenue decline of about 20% in 2002, while Urban Decay sales increased about 20% (1"The Rose Sheet" Dec. 23, 2002, p. 6). LVMH picked up Hard Candy in 1999, followed by the acquisition of Urban Decay in 2000. Divestiture of the two smallest brands in LVMH's portfolio does not presage a large-scale sell-off of brands, LVMH states. During a Jan. 23 fourth quarter, year-end sales call, CFO Patrick Houel said LVMH will continue to sell-off "non-core" brands in 2003, but will not divest any major businesses. While LVMH has said it has no plans to sell Sephora, the company also has called the retailer a "non-core" business (2"The Rose Sheet" Dec. 3, 2001, p. 4)...