NEW YORK — Jane Cosmetics may be in the hunt for a new president.
Sandy Cataldo, the brand’s current president, is said to be leaving the Estée Lauder Cos.-owned brand after only one year at the helm, according to industry sources. A spokeswoman for Estée Lauder declined to confirm the report, saying the company does not comment on rumors. However, sources said Cataldo has been lured by another beauty firm.
Jane Cosmetics, which it acquired from the brand’s founders in 1997, is Lauder’s only mass market holding. When launched in 1994, Jane was an industry trendsetter and respected for being one of the first beauty firms to recognize the vast opportunity posed by the blossoming teen market. With a strength in lip color, its growth had been rapid until two years ago, when sales stumbled and market share began to slip as more teen players like Caboodles aggressively jumped into the market.
Cataldo is credited with successfully building sales for both the Clinique and Estée Lauder brands, had been reassigned to Jane with hopes of reinvigorating the brand as part of a companywide reorganization last July.
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