Five People to Watch at NACDS Annual
It is that time again — the National Association of Chain Drug Stores Annual meeting, a glittering event with celebrity appearances and productive one on one meetings of the most influential people in the business.
The sun will undoubtedly shine on the posh Breakers Hotel as chief executive officers hammer out the future of drugstore retailing, especially with the backdrop of health care issues, pharmacy benefits managers and managed health care. Election years are always the most riveting.
Here are five people that will be among the most watched during the four days packed with meetings, speeches and parties.
• George W. Bush: The nation’s 43rd president doesn’t make many keynote speeches. But NACDS isn’t known for being just any meeting and year-to-year it pulls in the top names. Bush’s view on the election, health care and the direction of the country will be among the most anticipated words of the meeting. His appearance reveals just how important NACDS is as far as an association.
• Steven Anderson: This is NACDS president and chief executive officer Steven Anderson’s sixth meeting at the helm. He hit the ground running in 2007 and created a well-oiled machine that has made an impact on Capital Hill, but also as far as providing front-end information. His address on the industry is always food for thought for executives from all categories.
• Joe Magnacca: The merchandising wunderkind is always fun to chat with to see just what vision he has next for in-store excitement. Last year, he teased about what Duane Reade at 40 Wall Street would deliver and it did more than any executive could expect for beauty retailing.
• Michael Bloom: The former CVS executive now president of Family Dollar has been in the background as he puts his touch on the value chain. The NACDS meeting could be the time new plans are unveiled.
• Sheri McCoy: It is not clear whether McCoy, the newly named chief executive officer of Avon, will still be on the speaker podium in her former role at Johnson & Johnson. However, she is still listed on the NACDS Web site. If she does attend, it will be interesting to see if she shares any plans for Avon. She assumes her new role the day after NACDS ends.
People, Places and Things
A few words with Philip Solomon, Palladio chief executive officer, following North Castle Partner’s investment in Palladio, a color cosmetics and skin care firm. Solomon, a long time beauty industry veteran, will stay with the firm. North Castle’s previous investments include Avalon Organics, Alba Botanicals, and Doctors Dermatologic Formula. Current investments include gloProfessional, Mineral Fusion Natural Brands, and the Red Door Spa.
Solomon: When we determined it was time to bring in a partner to help with our growth strategy, I immediately thought of North Castle given their industry knowledge, commitment to partnership, and successful track record in beauty and personal care….We share a vision for continuing to grow Palladio, including: bringing more consumers who seek the Palladio brand into the stores of our U.S. distribution partners, acquiring complementary brands, and continuing to expand the Palladio international footprint.
What’s In Store
Dr. Teal’s Introduces Mass Market Milk Bath: Advanced Beauty’s Dr. Teal’s has a new Milk Bath that is available in two forms: a liquid foaming Milk Bath and a powdered Milk Bath. Dr. Teal’s Milk Bath combines real milk protein with vitamins A, D and E to help soften the skin with a comforting aroma of honey.
“Dr. Teal’s new Milk Bath items enter the market as the sales of bath items continue to rise at mass,” said Chris McClain, president of Advanced Beauty. “Consumers looking for bath products with both beauty and wellness benefits turn to Dr. Teal’s as a reliable resource that offers a variety of products that perform.”
Support for Legislation: The nation’s cosmetics industry announced its support for legislation to strengthen and modernize regulatory oversight of the industry and to create a greater role for the U.S. Food and Drug Administration in assessing the safety of personal care products.
Introduced by Representative Leonard Lance (R., N.J.), the “Cosmetic Safety Amendments Act of 2012,” H.R. 4395, will modernize federal oversight of cosmetics and personal care products, currently one of the safest product categories regulated by the FDA. H.R. 4395 builds on that strong record. The proposal has the full support of the Personal Care Products Council and the Safe Cosmetics Alliance, which have consistently advocated for an updated, enhanced and transparent regulatory framework for the FDA.
“FDA regulation of cosmetics has protected the public for decades, and this landmark legislation will enhance protections for millions of American consumers,” said Lezlee Westine, the Council’s president and chief executive officer. “Cosmetics companies recognize the need for a modern regulatory process that keeps pace with product innovation, as well as the demand for transparency. The Council applauds Congressman Lance for introducing this bill and will work to help gain bipartisan support for its passage.”