Prestige Beauty Brand Founded by Linda Rodin
Offers an Indulgent Line of Luxurious Skin Care and Oils
The Estée Lauder Companies Inc. (NYSE:EL) announced today that
it has acquired RODIN olio lusso, a luxury skin care brand founded
by the iconic New York stylist Linda Rodin. Terms of the deal were
not disclosed.
Founded in 2007, RODIN olio lusso – which translates to “luxury
oil,” to honor the easygoing Italian beauty aesthetic that has long
inspired Ms. Rodin – provides a highly selective line of premium,
sensorial products that appeal to discriminating consumers of all
ages and skin types. RODIN olio lusso has unique positioning in the
high-growth subcategory of skin care oils, and a devoted following
of fashion and beauty connoisseurs around the world. The brand is
currently sold in select high-end, trend-setting boutiques and
specialty-retail channels, including Barney’s, Colette and
Liberty.
The centerpiece of RODIN olio lusso is The Luxury Face Oil,
which is mixed from a combination of eleven essential oils derived
from flowers and botanicals. Many of these same oils are featured
in the brand’s other products, including body oil, luxury hand and
body cream, perfume, soap, a scented candle, and hair oil developed
in partnership with renowned hairstylist Bob Recine.
“RODIN olio lusso is the ultimate ‘insider’ beauty brand,” said
Fabrizio Freda, President and Chief Executive Officer of The Estée
Lauder Companies. “With its luxurious product line and strong
creative point of view, we believe it has the potential to be a
high-growth global skin care brand that strategically enhances our
portfolio. Linda is truly an authentic creative force and has an
incredible entrepreneurial spirit. I am thrilled to welcome her and
her brand to The Estée Lauder Companies.”
Linda Rodin has had an exceptional career encompassing many
facets of the fashion industry, from model to stylist. In 2007, she
added “entrepreneur” to her resumé, when she began experimenting in
her Manhattan apartment with mixing essential oils to create face
and body oil products. Ms. Rodin started bringing samples of these
oils on set, where they quickly gained a passionate following –
soon, the brand was a “must-have” at certain photo shoots and
backstage at select global fashion events. Ms. Rodin has led the
expansion of the business since its inception, with the elegance
and stylish minimalism that are the hallmarks of her brand.
“The guiding philosophy of my brand has always been that ‘there
is beauty in simplicity,’” said Ms. Rodin. “The Estée Lauder
Companies not only shares and embraces the core values that I’ve
instilled into my business, but also has an amazing track record of
nurturing and growing prestige brands while maintaining – and
encouraging – the spark that makes them so unique. The Estée Lauder
Companies is truly the perfect home for RODIN olio lusso.”
“The Estée Lauder Companies shares with RODIN olio lusso a
deep-rooted legacy of creativity and entrepreneurialism,” said
William P. Lauder, Executive Chairman of The Estée Lauder
Companies. “This acquisition continues our strong history of
identifying brands with unique positioning and nurturing them to
realize their full growth potential. We are so pleased to welcome
Linda to our family.”
The brand will be overseen by John Demsey, Estée Lauder
Companies’ Group President, responsible for the Estée Lauder,
M·A·C, Tom Ford, Prescriptives, Bobbi Brown, Bumble and bumble, Jo
Malone, La Mer, Smashbox, and Aramis & Designer Fragrance
brands.
Lowenstein Sandler LLP served as legal counsel to The Estée
Lauder Companies Inc., while Linda Rodin received financial advice
from Susan Newman, CPA, and legal counsel from Greenberg Traurig,
LLP.
The forward-looking statements in this press release, including
those in the quoted remarks and those relating to the expectations
for the acquired brand, the impact on the Company's financial
results and the benefits of the acquisition, involve risks and
uncertainties. Factors that could cause actual results to differ
materially from those forward-looking statements include current
economic and other conditions in the global marketplace, actions by
retailers, suppliers and consumers, competition, the Company's
ability to successfully integrate the acquired business and/or
implement its long-term strategic plan, and those described in the
Company's annual report on Form 10-K for the year ended June 30,
2014.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading
manufacturers and marketers of quality skin care, makeup, fragrance
and hair care products. The Company’s products are sold in over 150
countries and territories under the following brand names: Estée
Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins,
M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan,
Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, Flirt!,
GoodSkin Labs, Tom Ford, Coach, Ojon, Smashbox, Ermenegildo Zegna,
Aerin Beauty, Osiao, Marni, and Tory Burch.
Investor Relations:Dennis D'Andrea,
212-572-4384orMedia Relations:Alexandra Trower,
212-572-4430
Entergy Louisiana (NYSE:ELC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Entergy Louisiana (NYSE:ELC)
Historical Stock Chart
From Jul 2023 to Jul 2024