Schmidt’s is said to have hired Goldman Sachs to conduct a sale process, according to industry sources.The business, which is best known for its natural deodorants, also makes soaps. Schmidt's has about $45 million in sales, and is on track to double this year, according to industry sources, who said value expectations from the company are high, and indicated the transaction is likely to be a sale to a large strategic buyer or a minority private equity deal.Goldman Sachs and Schmidt's declined to comment for this story.The news comes on the heels of Procter & Gamble’s acquisition of Native, a natural deodorant company that sources said has between $25 million and $30 million in sales, and has plans to expand into other product categories. Consumer interest in wellness has created a market for products like aluminum-free deodorants like the ones Native and Schmidt's make. Other brands in the category include Ursa Major, which has a personal-care product line that includes aluminum-free deodorant, and Vapour, Lovefresh, Kaia Naturals, Meow Meow Tweet and others.According to Euromonitor, global deodorant sales were $20.2 billion in 2016 and could climb to $23.4 billion by 2021. For the U.S. market, deodorant sales for 2016 were about $4.5 billion for 2016 and projected to climb to almost $5.3 billion for 2021, according to Euromonitor.Schmidt's, based in Portland, Ore., was founded by Jaime Schmidt. The brand sells direct to consumers, and branched beyond the natural grocery channel earlier this year when it entered Target Corp. and then Kroger.At Schmidt’s, a large part of the focus (outside of ingredients) is on scent. The company recently released a holiday deodorant collection that includes fragrances Oh, Christmas Tree, Holiday Spice and Snow Day, which are sold as a three-pack for $24.99 or $26.99 (for sensitive skin). Schmidt's also makes Charcoal and Magnesium, Earth and Wood, Rose and Vanilla, Bergamot and Lime, Lavender and Sage, and other flavors of deodorant. The products come in stick and jar form — consumers who recycle five glass jars of product are eligible to receive one free deodorant jar. The brand also makes natural bar soaps, deodorant minis and offers a subscription service with free shipping.M&A in the beauty and personal care world has been on fire. On Monday, Unilever announced a deal for Sundial, which owns hair and personal care brands SheaMoisture, Nubian Heritage and Madam C.J. Walker. Before that, Henkel agreed to buy Zotos from Shiseido, Castanea Partners invested in skin-care brand Tatcha, Tengram Capital acquired ReVive from Shiseido, and Unilever bought Hourglass Cosmetics.
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)