MILAN — While Intercos SpA would not comment on a local published report that it is gearing up for an initial public offering in Milan before the end of the year, a luxury goods analyst who spoke on condition of anonymity said the rumors are true. Established in 1972, Intercos is controlled by its founder and president Dario Ferrari and the Eurazeo private equity firm, which owns a 20 percent stake. With the Rothschild financial group as adviser, Ferrari is expected to sell about one third of his company, which he would still control.
Intercos sales projections for 2014 are just shy of 400 million euros, or about $552.6 million at current exchange, according to the company, which expects to hit turnover of 500 million euros, or $690.6 million, in 2016. The Italian cosmetics supplier — which manufactures lipstick, eye shadow, mascara, foundation, powder, pencils, nail polish and skin-care products — was prepping for a listing “five or six years ago,” said another Milan-based analyst. However, he said “the IPO did not materialize because there were problems concerning the value of the company. Also, at the time the market was less interested in luxury companies.” The analyst said that Intercos was “already an interesting company at the time,” and now that it has expanded and grown in sales, “it could pull off” a good market price.
Intercos owns 13 plants worldwide, with five in Europe, three in North America, one in South America and four in Asia, and the firm employs more than 3,500 people internationally, with more than 15 percent of its workforce dedicated to cosmetics innovation. The company has significantly boosted its skin-care business in recent years, and is currently in the planning stages of a research and development center in South Korea focused on raw materials and packaging innovation, a category it is keen to expand.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty