JUDGMENT DAY: Wella AG is expected to comment on whether it accepts Procter & Gamble’s increased public offer for its 78 percent of voting rights today. Last week, P&G raised its offer for Wella’s preferred shares by $3.85 to $71.50. In March, P&G signed an agreement to purchase 77.6 percent of the voting stock in Wella from its founding family majority shareholders at a cash price of $109.18 per share. At that time, P&G said it would make a tender offer of $67.65 for the preferred shares, a markup of only 0.25 percent. P&G upped its bid in a move that looked to garner support from Wella’s board.
This story first appeared in the May 9, 2003 issue of WWD. Subscribe Today.
A LEAGUE OF HER OWN: The stylings of celebrity hairdresser Sally Hershberger will soon be available in a new Manhattan salon under her own name. Located in the trendy Meatpacking district between the Alexander McQueen and Stella McCartney boutiques, the second-floor space is currently under construction and measures 1,800 square feet. A soft opening this summer will be held for select VIPs; an official launch is scheduled for fall. The salon will serve as a place where “Hershberger can develop new looks and work on her clientele,” according to publicist Brooke Wall. The New York location is Hershberger’s second outpost — the Sally Hershberger for John Frieda salon opened three years ago in L.A. Much like the L.A. salon, which features palm trees and is designed around a pool, the Manhattan space will be conducive to the trendy neighborhood’s rough-around-the-edges environment. Industrial minimalist is the architectural theme, with flat-screen TVs and concrete countertops accenting the raw space. In addition to sharing her time between the L.A. and N.Y. salons and serving as one of the industry’s most sought-after editorial hairstylists, Hershberger remains very active in the development of mass hair care products under the John Frieda brand. Hershberger was instrumental in developing the company’s Sheer Blonde and Beach Blonde hair care lines.
POLISHING UP: Ji Baek, owner of Manhattan’s three Rescue Nail salons, is launching a line of nail polishes, as well as a three-item treatment line. The color line features 28 shades, which Baek described as the most “classic and neutral nail colors for our clients.” Sheer White, Opaque Pink and Moulin Rouge are some of the basic shades offered, and then there’s Chinoisse, an orange/red shade Baek said was inspired by one of her favorite designers, Alexander McQueen. The treatment system includes a prep, base and top coats, which are designed to prolong nail polish life. In addition to selling the new items in her salons, the new wares are now available in Barneys New York and will retail for $18 per nail polish and $45 for the treatment system.
EBAY MOTHER’S DAY: Jergens is auctioning off autographed photographs of celebrities pictured along with their mothers or daughters as part of a Mother’s Day charity promotion happening this week on eBay. Proceeds from the sale of prints of the likes of Joan and Melissa Rivers; Britney Spears and her mom, and Jamie-Lynn Sigler and her mom will be donated to the Starbright Foundation. The auction, held at eBay.com/Jergens is scheduled to end Sunday.