For Freeze 24-7, the techie skin care company bent on zapping wrinkles, a sales thaw may be in the offing.
This story first appeared in the July 1, 2011 issue of WWD. Subscribe Today.
TPR Holdings LLC, a consumer products company based in New York, acquired the brand and its assets from a secured lender after Freeze 24-7 defaulted on its debt earlier this year, said Brian Robinson, president of TPR Holdings, which has a growing portfolio of beauty brands. On June 9, TPR acquired a controlling interest in Oscar Blandi Hair Care Products.
Freeze 24-7 marks TPR’s only current skin care holding, although it’s a category close to the company’s roots. Robinson founded the men’s skin care brand Zirh in the Nineties, which was ultimately bought by Procter & Gamble Co. in 2009.
The eight-year-old Freeze 24-7 brand was a onetime indie darling, which in its heyday in 2007 generated roughly $20 million in wholesales across tony retailers like Henri Bendel, Bloomingdale’s and Nordstrom. In recent years, it was found in Ulta and in CVS Pharmacy’s Beauty 360 concept.
Robinson said under TPR’s watch, Freeze 24-7 has aligned itself with a “major U.S. department store,” which will relaunch the brand on Sept. 1 and allot it dedicated counter space. “We want to re-create the success of this brand in a small concentration of doors and build from there,” said Robinson.
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Freeze 24-7’s first product, Freeze 24-7 Anti-Wrinkle Cream, introduced in 2003, touted a wrinkle-fighting formula that relied on a natural muscle-relaxing agent called Gaba. Robinson said the company plans to review current formulas, updating some, while “injecting newness into the brand with hero items.” But, it will be a steady build. Robinson said the brand requires a much longer turnaround process than TPR’s typical six to nine months. “There’s a lot of ground to catch up on,” he said. “This is a five- or six-year project.”
As for what attracted him to the brand, Robinson said, “The barriers to entry in women’s skin care are staggering.…Freeze 24-7 did have consistent sell-through and traction.”
Terms of the transaction were not disclosed.