BERLIN — In another sign of movement in the fragrance supply industry, Symrise held its initial public offering Friday.
The world's fourth-largest fragrance and flavors supplier, based in Holzminden, Germany, is offering a maximum of 81 million shares at a subscription range of 15.75 to 17.75 euros, or $20.86 to $23.51, at current exchange.
The subscription offer runs through Dec. 8 and the final price will be announced on Dec. 9 or 10.
Dec. 11 is expected to be the first day of trading.
If all shares are purchased at the higher end of the range, this would be Germany's largest IPO this year. Symrise is primed to raise about 1.44 billion euros, or $1.9 billion, which the company said will be used primarily to cut debt and fund expansion.
The Swedish investment firm EQT III Fund and unnamed co-investors now control 80 percent of Symrise. The shares offered include up to 37.8 million shares from a capital increase and up to 32,661,181 shares from the holdings of the company's existing investors. Up to 69 percent of total capital will be on free float after the listing.
Symrise employs some 4,900 people in 26 locations worldwide. In 2005, the company's fragrance supply sales were estimated at 609 million euros, or $758 million at average exchange, out of total sales of 1.15 billion euros, or $1.46 billion.
Analysts suggest that on the heels of Givaudan's acquisition of Quest two weeks ago, Symrise hopes to share in the consolidation of the market and pick up smaller players. Proceeds from the share sale would make it possible for Symrise to do so.
Hargitay Dazzles Bloomingdale's NEW YORK — Some stars pay lip service to philanthropy, but actress Mariska Hargitay is so passionate about her cause that she created the Joyful Heart Foundation. The organization aims to aid the recovery of sexual abuse survivors, something her "Law & Order: Special Victims Unit" character, Olivia Benson, deals with far too often.
To benefit the cause, Hargitay has teamed up with Philosophy founder Cristina Carlino to create Joyful Heart Shower Gel. It retails for $18, and all proceeds benefit the Joyful Heart Foundation. The duo signed more than 400 bottles of the shower gel at Bloomingdale's 59th Street flagship on Friday afternoon, taking the opportunity to unveil the brand's first shop-in-shop."I've been such a personal fan of Philosophy for so many years," said Hargitay, clad in a Gucci top and jacket, True Religion jeans and blue patent leather Ferragamo heels. "I always say there are no accidents — I'd be in my bathroom, soaking in the tub after a long day and reading the Philosophy bottles [which have always featured empowering statements] and saying, ‘I love these people!' It was a natural partnership."
Myra Scheer, a friend of both women, made the initial connection, said Carlino: "[Scheer] said, ‘My good friend, Mariska Hargitay, has this incredible foundation and I want to hook the two of you up — would you be interested?' I said, ‘Of course. Tell me more about the cause.'" One in four — some say one in three, if you factor in unreported cases — women will be victims of rape, incest or other sexual abuse in their lifetimes, which made Carlino eager to help. "I said, ‘We're doing all this stuff with breast cancer, but this is more relevant.'"
Hargitay added, "We have the same agenda: empowering women and helping them heal — mind, body and spirit."
Now that she's tested the beauty waters with Joyful Heart, Hargitay says she's up for deeper involvement in the industry. "I've loved getting my feet wet with Cristina. I was so excited when I saw the shower gel, I cried. I was like, ‘I'm an actor! How did I get here?'" she said with a laugh. "It's so great to be involved with something that makes people feel good. It was a dream realized. I go around calling Cristina my partner."
So could Hargitay be headed for a celebrity fragrance deal? She's clearly not ruling it out. When asked what her celebrity fragrance would smell like, Hargitay immediately answered: "Peonies. They're my favorite flower on the planet. I'm all about peonies. My two favorite scents are peonies and orange blossoms."
And while she's hitting new heights in her professional life, Hargitay has a refreshingly simple goal for her next project: "Getting enough sleep!" she said with a laugh, noting that her son, August — born June 28 — makes that a challenge for her and her husband, Peter Hermann. "My only project right now is being the best mom I can to August." — Julie NaughtonAlberto-Culver to Cut Jobs NEW YORK — Now that Alberto-Culver Co. has parted ways with its distribution arm, Sally Beauty Holdings Inc., Alberto-Culver plans to slim down.
As part of its reorganization, the consumer products company will combine two marketing units into one and some international services will be outsourced or combined into regional offices, according to the company. Alberto-Culver will trim about 90 posts from its global workforce of 3,800.
The company expects to take restructuring charges of approximately $13 million and $3 million in the first and second quarters of fiscal 2007, respectively.
Also in the first quarter, the company will take previously announced charges related to its split from Sally Beauty, including payments totaling $14 million to its former president and chief executive officer, Howard B. Bernick, and the former chairman of Sally Beauty, Michael H. Renzulli. Another first-quarter charge is a non-cash charge of approximately $18 million for the acceleration of stock options and restricted stock as of the closing date of the separation transaction.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)