PARIS — The Courtin-Clarins family repeated Wednesday its unwillingness to cede control of Groupe Clarins and it has been approached by various cosmetics companies.
"Following persistent rumors concerning Clarins' stock, we should like to reiterate that the Courtin-Clarins family, the group's majority shareholder, is not considering handing over control of the company," Christian Courtin-Clarins, the firm's president and chief executive officer, said in a statement. (The Courtin-Clarins clan boasts 65.1 percent of the beauty company's capital and 78.6 percent of its voting rights.)
"Having established this, it is a fact that numerous contacts have been made with several players of the cosmetics industry in relation to the external growth policy that Clarins has never made a mystery of," he added. "To this date there exists no element of a nature to be made public."
Courtin-Clarins' words come as a mantra. As recently as last week, he was reported as explaining, "All of the groups are interested in Clarins; they have all made propositions, but liberty does not have a price. We remain our own masters."
Yet nowhere in the statement Wednesday does Courtin-Clarins respond directly to widespread reports that Clarins could have entered into exclusive negotiations with PPR. According to these speculative reports, PPR could offer its beauty division, YSL Beauté, to Clarins in return for up to a 30 percent stake in the company — and even a right of first refusal if the company is eventually sold.
Clarins executives could not be reached for further comment, as they are in Macau, China, on business. A PPR spokeswoman would not comment on any speculation.
Clarins' stock price closed down 1.52 percent to a unit price of 58 euros, or $85.69 at current exchange, on the Paris Bourse Wednesday. PPR's stock price rose 2.4 percent to 113.29 euros, or $167.37.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)