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Top Notes: Faust To Bath & Body Works…Marionnaud Numbers…Arden Completes Offering…

FAUST TO BATH & BODY WORKS: Leslie Faust has been appointed senior vice president of flagship merchandising at Bath & Body Works, a new position at the Limited Brands division. Faust was most recently vice president and divisional...

FAUST TO BATH & BODY WORKS: Leslie Faust has been appointed senior vice president of flagship merchandising at Bath & Body Works, a new position at the Limited Brands division. Faust was most recently vice president and divisional merchandise manager of cosmetics and fragrances at Neiman Marcus, where she spent 12 years. In her new post, Faust will focus on “building a product assortment and merchandising strategy that transforms Bath & Body Works’ flagship stores into a new channel of distribution — an apothecary of beauty and well-being that incorporates the best of Bath & Body Works’ products, marquee specialty brands and emerging brands,” the company said in a statement. As reported, Bath & Body works has continued to evolve a new store format since 2001, a concept that has incorporated non-Bath & Body Works brands. The company said that, while working closely with Neil Fiske, chief executive of Bath & Body Works, and Beth Kaplan, the chain’s executive vice president of flagships, Faust’s responsibilities will include developing a product line and merchandising strategy, managing vendor relationships with specialty brands and creating an integrated marketing campaign.

MARIONNAUD NUMBERS: Parfumeries Marionnaud will report its yearend 2003 sales on Monday and warning bells were sounded about potential surprises in the numbers. At issue are Marionnaud’s cost of producing customer fidelity cards and what impact their use will have on margins against a backdrop of discounting in the beauty sector. Uncertainties caused the perfumery’s stock to slip in trading on the Paris Bourse Wednesday, but it gained ground Thursday to close flat, at 26.50 euros, or $33.34 at current exchange. Marionnaud late Thursday issued a statement denying any accounting errors in response to a press report. The perfumery said the cost of producing the cards would be 1.3 million euros, or $1.6 million, with discount charges approaching 2 million euros, or almost $2.5 million. However, Marionnaud said these did not translate to “sales with no margins.” Notwithstanding this week’s media frenzy, some analysts have been apprehensive about the Marionnaud stock. Fideuram Wargny, for instance, downgraded its Marionnaud rating on Monday from “recommend” to “hold,” with a target price of 31 euros, or $39. For the nine months ended Sept. 30, Marionnaud registered consolidated pretax sales of 677.5 million euros, or $852.3 million, up 10.4 percent year-on-year.

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ARDEN COMPLETES OFFERING: Elizabeth Arden Inc. completed its offering of the $225 million aggregate principal amount of its 7 3/4 percent senior subordinated notes due in 2014. The firm also said it has called for a redemption of $84.3 million of the aggregate principal amount of its 10 3/8 percent senior notes due in 2007, representing all outstanding principal amounts that have not previously been called. The redemption date will be February 12, 2004. The sale of the 7 3/4 percent notes resulted in net proceeds of $219 million, to be used to purchase any and all 11 3/4 percent senior secured notes due in 2011 that are tendered pursuant to its cash tender offer announced Dec. 24, as well as $95 million aggregate principal amount of 10 3/8 percent notes. The cash tender offer expires Jan. 22, unless extended by Arden.

FERRARI LICENSE TO MORRIS: Italian perfumes and cosmetics manufacturer Morris recently signed a deal to manufacture and license Ferrari’s fragrance line. Originally licensed by the Milan-based fragrance manufacturer Satinine, Ferrari perfumes switched to the Palma-based Morris, which also has the Fiorucci, Krizia, La Perla and Sergio Tacchini perfume licenses. Terms of the deal were not disclosed and a spokesman from Morris declined to comment.

CEW’S YOUNG SET: Cosmetic Executive Women held its second Young Executive Committee event Wednesday night at Henri Bendel. Guest speaker Maureen Kelly, chief executive officer and owner of Tarte Cosmetics, was on hand to speak to the crowd of 300 young beauty executives who were also invited to shop with a 20 percent discount. Ten percent of the evening’s proceeds benefited CEW’s Cancer and Careers. Senior board members Robin Burns, Anne Martin and Jennifer Balbier were also in attendance. The Young Executive Committee, which now has about 500 members, is an effort to encourage networking and build relationships among the younger members of the beauty industry.

MAC BACK AT SUNDANCE: MAC Cosmetics is back in Park City, Utah, for its fourth consecutive appearance at the Sundance Film Festival, which runs until Jan. 25. The Estée Lauder-owned brand will provide makeup for a portrait studio at the festival that’s sponsored by Hewlett-Packard and hosted by WireImage. In addition to its presence at the studio — a venue for photo-ops with filmmakers and talent — MAC’s makeup artists will be on call for personal makeup appointments with VIPs.

CASWELL-MASSEY MOVE: Caswell-Massey has appointed Wayne Garten president and chief operating officer. Garten, who had been consulting for Caswell-Massey since July, was previously president and chief executive officer of Popular Club Inc., a catalogue marketer of general merchandise, apparel and gifts.

CARLINO DEPARTS: Robert Carlino, vice president, national sales manager at Parfums de Coeur, has resigned to take an executive sales position with Puig, N.A. Before joining Parfums de Coeur in 2001, Carlino had been senior vice president, corporate trade development, at Revlon. A replacement for Carlino at Parfums de Coeur has not been named.

PAPER DOLL’S NEW GLOSS: Paper Doll Cosmetics will launch a lip gloss kit, called “21st Century Fox,” in March. The item features three gloss wands — including pink, red and clear shades — packaged in a black box for $21. Saratoga, Calif.-based Paper Doll bowed with the introduction of lip glosses at Sephora last summer and has since introduced four blushes for face and body called Body Blush and Sexy Shimmer.