Clarins' Stock Falls on Report

PARIS —
Shares of Groupe Clarins lost ground late last week amid reports that the company would not be exploring a sale.

On Thursday, Groupe Clarins stock price dropped 7.4 percent to 57.99 euros, or $86.10, versus Wednesday's close. However, shares rebounded somewhat on Friday, inching up 1.25 percent to close at 58.72 euros, or $87.05. Currencies were converted using the average exchange rates for Thursday and Friday respectively.

"All of the groups are interested in Clarins; they have all made propositions, but liberty does not have a price. We remain our own masters," said Christian Courtin-Clarins, Clarins' president and chief executive officer, in an article appearing in French daily newspaper Le Figaro on Thursday. Courtin-Clarins reportedly did not deny his readiness to welcome investors into his company if they remain minority shareholders and he and his brother Olivier, who is currently vice president of research and development, maintain control over the firm's board. Courtin-Clarins said he is not going to allow someone "to put a foot in the door, a fox to mind the geese."

The company has been ample fodder for the rumor mill of late. The company's stock price has been on an upward trajectory, thanks to conjecture that it would be acquired by the likes of L'Oréal, Procter & Gamble Co., The Estée Lauder Cos., Shiseido or Beiersdorf AG following the death of its founder Jacques Courtin-Clarins earlier this year. Last Monday, Clarins' stock price closed up 8 percent to 64.71 euros, or $95.95, due to the resurgence of speculation that PPR could take over Clarins.

The Courtin-Clarins family has steadfastly maintained in the past that the company is not for sale.
— Jennifer Weil

Kiehl's Names Worldwide GM

NEW YORK —
Patrick Kullenberg has been named the new general manager worldwide of Kiehl's Since 1851, a division of L'Oréal USA, succeeding Rob Robillard, who previously resigned.

Kullenberg, a 12-year veteran of the L'Oréal Group, will be responsible for all of Kiehl's international operations and will report to Valerie Chapoulaud, president of L'Oréal USA's Luxury Products Division. The appointment will take effect in January.The new Kiehl's chief spent the last two years in Paris as the deputy general manager of Garnier Worldwide. Previously, he held various marketing positions within that L'Oréal division.

Kullenberg began his career with L'Oréal in 1995 at the L'Oréal Paris Division in the U.K. He also served as general manager for L'Oréal Paris in Spain.

Chapoulaud said in a statement, "Patrick is a well-respected executive within the L'Oréal Group whose leadership and global vision make him an excellent choice for this role."

Ormonde Jayne Headed to Dubai

LONDON — Ormonde Jayne is spreading its wings.

The perfumery, which is based on Old Bond Street here, will open two outposts in Dubai starting in February. The spaces, which will be located in Boutique 1 stores in the city, will be the brand's first locations outside of London.

"A lot of people in Dubai had been asking Boutique 1 if it stocked Ormonde Jayne," said Linda Pilkington, the brand's founder. "We have quite a big following in the Middle East."

The spaces — one will be in Boulevard at Emirates Towers from February and the other, in Jumeirah Beach, will open in March — will replicate the brand's London flagship and feature bronze smoked mirrors and black lacquered testing tables.
— Brid Costello

Cofinluxe Inks Charriol Scent License

PARIS — Cofinluxe has signed a worldwide licensing agreement for the creation, manufacturing and distribution of Charriol fragrances. Charriol is a Geneva-based watch, jewelry and accessories brand. Its products are sold in more than 3,200 doors worldwide, including 81 freestanding stores. The first Charriol scent is due to be launched in the second half of 2008. Cofinluxe also has in its portfolio the fragrances from Salvador Dali and Morgan.

Annette Green to RMJ

NEW YORK — Beauty manufacturer RMJ Laboratories Inc. has named Annette Green business development consultant. Green stepped down as president of the Fragrance Foundation in 2003 after heading it for 41 years. In her new role with RMJ, Green will act as a liaison between beauty brands and RMJ, a contract manufacturer of skin care, bath and body, hair care and organic personal care products.In addition to manufacturing, filling and assembling beauty products, RMJ, which is based in Edison, N.J., conducts research and development, product development and analytical work on product formulations.

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