PARIS — It looks like Selective Beauty — the French beauty manufacturer and distributor — has selected some new shareholders.
According to sources, a new investor is arriving soon to replace private equity firm 3i, which controls a 45 percent stake in Selective Beauty. Christophe Cervasel and Corrado Brondi, plus other managers, hold a 55 percent share.
The identity of the new investor could not immediately be learned. Cervasel, chairman of Selective Beauty Corp., had no comment on the speculation.
Selective Beauty reported 2007 sales of 188 million euros, or $258 million at average exchange, up 24 percent year-on-year. That showing represented the company's seventh consecutive year of double-digit growth.
Selective Beauty owns the worldwide fragrance or beauty licenses for brands such as Agent Provocateur, MaxMara, Benetton and Marbert. Most recently, it inked deals with John Galliano, Zac Posen and Jimmy Choo.
Among others, Selective Beauty has a distribution agreement with Ferragamo Parfums for its Ferragamo and Emanuel Ungaro scents in the U.S.
In February 2007, Selective Beauty was divided into four divisions, each charged with the full management — including brand creativity, strategies, product development, plus international commercial and marketing implementation — of a limited number of brands. These include the luxury, prestige, fashion and lifestyle and distribution divisions.
— Jennifer Weil
New GM at Giorgio Armani Beauty
In an effort to unify the cosmetics and fragrance business of Giorgio Armani, L'Oréal has promoted Stephane de la Faverie to general manager of Giorgio Armani Beauty.
In the new post, which he took Wednesday, de la Faverie reports to Valérie Chapoulaud, president of the Luxury Products Group of New York-based L'Oréal USA. De la Faverie's new duties were previously handled by Serge Jureidini, president of Designer Fragrances, who handled Giorgio Armani Parfums, and Chris Salgardo, president of Specialty Brands Group, who oversaw Giorgio Armani Beauty, handling cosmetics, skin care and the Privé brand.
"As the Giorgio Armani brand is an extremely strategic part of the Luxury Products Group portfolio, we are uniting the [Armani] structure to allow us to focus our efforts and resources on the brand's future growth," said a spokeswoman for the firm.De la Faverie, who joined L'Oréal Group in 1998, was most recently vice president of marketing at Lancôme USA, where he oversaw the brand's skin care and fragrance businesses. Prior to that, he held numerous positions within the company, including general manager of Lancôme in Australia and area manager for the Travel Retail Division of Luxury Products Group North America, overseeing the Lancôme, Giorgio Armani, Ralph Lauren and Biotherm brands. He started his career within the Lancôme International Division in Paris.
"Stephane is a well-respected executive within the L'Oréal Group whose leadership and global vision make him an excellent choice for this role," stated Chapoulaud. "I am confident that along with his team, the Giorgio Armani Brand will continue its growth and success in the U.S. market."
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