LONDON — Lloyds TSB Development Capital is putting tanning brand St. Tropez on the block.
This story first appeared in the May 4, 2010 issue of WWD. Subscribe Today.
Rothschild investment bank was appointed last week to oversee the deal. St. Tropez generates annual retail sales of 60 million pounds, or $91.5 million at current exchange.
“I think St. Tropez could be a $1 billion brand,” said Michelle Feeney, St. Tropez’s chief executive officer, adding the company’s profits have doubled in the last two years.
The beauty industry has been abuzz with merger and acquisition activity of late. Last month, L’Oréal inked a deal to acquire nail polish company Essie Cosmetics, for instance, while in March Avon snapped up Liz Earle Beauty Co.