NESTLE TO DECIDE ON L'OREAL: Nestlé will decide upon the future of its 30 percent stake in L’Oréal in 2014, according to the company’s chairman, Peter Brabeck-Letmathe. “Further ahead, although your board of directors has already started to reflect on it, is the extremely important and complex issue of the future of our involvement in L’Oréal, which we will decide upon in 2014,” he said during the annual shareholders meeting in Lausanne, Switzerland, on Thursday. The principal terms of the shareholder pact between Nestlé and the Bettencourt family, which owns 31 percent of the French beauty giant, are that neither party can increase its stake in L’Oréal during the lifetime of Liliane Bettencourt and six months after her death. Each of the parties is free to sell its shares and has conceded to the other a first right of refusal until April 29, 2014. After that date, the parties can offer the shares to any third party.
LUXE PACK TAPS FINE COLLINS FOR AWARDS EVENT: Amy Fine Collins, special correspondent for Vanity Fair and International Best-Dressed List Hall of Famer, will host the Pratt Institute and Luxe Pack Art of Packaging Awards Gala, benefiting the Marc Rosen Scholarship and Education Fund for Packaging by Design, on Tuesday, May 17, at New York’s University Club, located at Fifth Avenue and 54th Street. This year’s honoree is P&G Prestige. Sumit Bhasin, global leader of innovation P&G Prestige, will accept the award. The event begins at 6:30 p.m. with a cocktail reception, which will be followed by an 8 p.m. dinner. The Art of Packaging Award is presented each year to a fragrance company that has excelled in the art form.
ROULEAU EXPANDS TO L.A.: After increased demand from West Coast clientele, celebrity aesthetician Renée Rouleau will kick off a partnership with LeSpa at the Sofitel Los Angeles hotel. LeSpa will host Dallas-based Rouleau four times a year for five-day visits and offer her exclusive facials. The first visit kicks off the week of June 18. Thirty-minute consultations with Rouleau cost $175 and include $75 worth of products. Also available are 80-minute facials for $400.
SANOFI-AVENTIS MULLS OPTIONS FOR DERMATOLOGY BUSINESS: Sanofi-aventis, the Paris-based pharmaceutical and vaccine group, said Thursday that its U.S. arm, Sanofi-aventis U.S., is “exploring strategic alternatives” for its U.S. dermatology business. That business includes therapeutic and aesthetic dermatology brands such as Benzaclin, a topical prescription product that treats acne; Carac, which treats keratoses skin lesions, and Sculptura, an injectable wrinkle treatment. The company said the decision to review its dermatology business in the U.S. is in keeping with its strategy to “reallocate resources to high growth areas,” which it said include its pharmaceuticals that relate to diabetes, oncology and atrial fibrillation, or abnormal heart rhythm.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styles by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)