PARIS — Groupe Clarins now fully owns Kibio.
This story first appeared in the February 5, 2010 issue of WWD. Subscribe Today.
On Jan. 29, Clarins acquired the remaining stake in the organic beauty brand it had not already owned, according to Olivier Courtin-Clarins, company vice president of research and development and managing director of Clarins’ executive board. However, Clarins had been Kibio’s majority shareholder since July 2009.
Clarins first took a 10 percent stake in Kibio and subscribed to the full amount of a convertible bond issue in 2006. The investment was 3 million euros, or $4.1 million at current exchange. The conversion of the bonds was allowed starting in 2008 and was there to enable Clarins to increase its shareholding in Kibio to 60 percent.
Kibio, created in 2005 by Pierre Cabane and Laurent Potier, is inspired by the idea of Chinese energy, called Qi.