TIGI GETS NEW CEO: As expected, TIGI president and chief operating officer, Thomas Reasonover, has retired from the Unilever-owned firm. TIGI was acquired in January 2009, and industry sources expected Reasonover to remain until the integration of TIGI into Unilever was complete. Reasonover will be succeeded by Philippe Hostaléry, effective Jan. 19, reporting to Michael Polk, president, Americas, Unilever. Hostaléry most recently served as group vice president, Global Beauty Brands, Avon Products.
This story first appeared in the January 15, 2010 issue of WWD. Subscribe Today.
LAUDER MOVE: Christopher Wood has been named a senior vice president as head of the Global Strategic Modernization Initiative at the Estée Lauder Cos. Inc. As part of the succession plan, Wood, who has been with Lauder since 1993, recently has been general manager of the company’s affiliate in Korea. He will be succeeded in that post by Hervé Bouvier, who heads the Lauder brand in the Asia-Pacific region. Wood will relocate to New York and join the company’s Executive Leadership Team, Program Management Team and SMI Steering Team.
REGIS NUMBERS: Hair salon operator Regis Corp. posted revenues of $575 million for the second fiscal quarter of 2010 ended Dec. 31, a 2 percent slide from $587 million in the same period a year ago, as the firm maintained its expectations for the full fiscal year. Overall same-store sales for the second quarter were down 3.7 percent. “In December 2008, we began to see a significant lengthening in consumers’ salon visitation patterns due to the economic recession,” stated Paul D. Finkelstein, Regis’ chairman and chief executive officer. He added, however, that “we continue to believe same-store sales in the second half of our current fiscal year should improve over the first half of the year. Our expectations for fiscal year 2010 are unchanged,” he added, “with same-store sales estimated to be in a range of negative 3 percent to positive 1 percent, and operational [EBITDA] in a range of $200 million to $240 million.”
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ANIMAL-FREE TESTING CLOSER: L’Oréal and Hurel Corp. said Thursday they have achieved the initial milestone of a research and development collaboration to create “a new and transformational” in vitro test for potential allergic reactions to substances that could come into contact with the skin. The new device, named Allergy Test on a Chip, is intended to comprise a technological substitute for the animal test known as the local lymph node assay. The development “is totally in line with our 25-year commitment in nonanimal toxicology,” said Jacques Leclaire, Ph.D., director of Life Sciences Research at L’Oréal, in a statement.
CEW TAPS MARKETING EXEC: Cosmetic Executive Women has hired Susan Bornstein as vice president of Events, Marketing and Membership. Bornstein will be responsible for marketing, media relations and membership as well as developing new opportunities and strategic planning. Most recently, Bornstein was the associate publisher-marketing of Gourmet Magazine. Prior to Gourmet, which closed in 2009, Bornstein was associate publisher-marketing at Allure Magazine.
VIRTUAL 360: CVS Pharmacy has introduced an e-commerce site for its upscale beauty venture, Beauty 360. The online site, beauty360.com, will house the same assortment as the eight Beauty 360 brick-and-mortar outposts, which began rolling out in November 2008 to select CVS stores. Visitors to the site are directed to cvs.com once they click on a brand or item. Nearly six million consumers visit cvs.com each month, according to the company.