NEW YORK — Charles Knott has been named chairman and chief executive officer of fragrance supplier Quest International, succeeding Paul Drechsler, who resigned Tuesday after five years at the post.
Knott was formerly president and chief operating officer of National Starch, a subsidiary of London-based Imperial Chemical Industries Group, which is also Quest’s parent. Plans call for Knott to relocate to Quest’s headquarters in Naarden, The Netherlands, from the Bridgewater, N.J., headquarters of National Starch.
At the same time ICI said Drechsler was leaving the company, the group also announced expectations of lower profits for the first quarter. ICI stated it expected first-quarter "profit before taxation, exceptionals and goodwill amortization to be around $78.7 million in comparison with last year’s $103.9 million." Dollar figures have been converted from the British pound at current exchange rates.
One of the principal factors impacting first-quarter performance was weakness in sales on the food side of Quest’s European business, ICI stated. This was primarily due to "production problems at its Naarden facility as a result of systems changes," the company said.
Quest’s total 2002 food sales accounted for 60 percent of its revenues, which totaled $1.1 billion last year, or 12 percent of total group sales. The fragrance side of the business generated the remaining 40 percent of Quest’s sales. By comparison, National Starch had $2.9 billion in sales last year, generating 30 percent of ICI’s revenues. ICI’s other subsidiaries include ICI Paints and Uniqema — as well as businesses in India, Pakistan and Argentina, which fall within a subsidiary called Regional & Industrial Group.
In announcing the appointment of Knott, ICI ceo Brendan O’Neill said: "Charles has helped strengthen the operational efficiency of National Starch and I am certain that he will help improve the performance of the Quest business."
Despite weaker sales on Quest’s food side, performance on the fragrance side paints a different picture. Damas C. Thoman, Quest’s president of fragrances for North America, said: "We’ve had tremendous growth in fine fragrance." Recent fragrance launches that have included formulations from Quest include the red hot Glow by J.Lo; a scent from designer Lulu Guinness, and MAC Cosmetics’ MV1, MV2 and MV3 trio.
@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)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)