LONDON — PZ Cussons is dipping its toes into the spa market.
The U.K.-based personal care and consumer goods firm announced Tuesday it acquired Sanctuary Spa Holdings for 75 million pounds, or $148.6 million at current exchange, from private equity firm HgCapital. The business includes treatment and bath-and-body lines, plus a day spa located in Covent Garden here.
"The Sanctuary business represents an excellent strategic opportunity for PZ Cussons, giving us a greater presence in the premium segment of the U.K.'s personal care market through an established and well-respected brand," said Alex Kanellis, group chief executive of PZ Cussons plc, in a statement. "We see considerable opportunities to create further value from the Sanctuary business, through combining our new product and brand development expertise with theirs, developing the brand's international sales and exploring opportunities to develop the spa concept further. There are also synergies to be derived, particularly in the area of supply chain."
PZ Cussons, whose personal care portfolio includes Imperial Leather, Carex and Original Source, rang up revenues of 299.5 million pounds, or $607.2 million at average exchange, for the six-month period ended Nov. 30.
Sanctuary's revenues for the year ended Aug. 31 came in at 26.3 million pounds, or $51.5 million at average exchange, while pretax profits came in at 3.9 million pounds, or $7.6 million.
The Sanctuary brand, which is carried in Boots the Chemists in the U.K. and Target in the U.S., represents 70 percent of Sanctuary Spa Holdings revenues. The Sanctuary Spa hosts 64,000 clients annually, according to the company.
"The iconic spa in Covent Garden underpins our brand authority and has enabled us to develop the products business into one of the U.K.'s leading body care brands," said Alice Avis, chief executive of The Sanctuary Spa, in a statement released by HgCapital. "We have also expanded the business into international markets, with particular success in the U.S., where sales grew by 80 percent over the Christmas period.
"PZ Cussons has an excellent reputation in the industry, and we look forward to working with them to develop The Sanctuary Spa further, both in the U.K. and internationally," she continued.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast