The customer data is explained in a bankruptcy court document as “promotable e-mail addresses.” Essentially that’s the list of customers, and their e-mail addresses, who have bought beauty products either online or at Bon-Ton’s now closed stores. The purchase price is subject to adjustment depending on the final customer count on the list. The court document detailing the purchase agreement said that if the number is less than 894,000, then the cash payable by L’Oréal shall be 35 cents multiplied by the final customer count.
David Morgan, L’Oréal’s senior vice president of business development, said in a court affidavit that due to the store closings, “a large pool of loyal” Lancôme and L’Oréal customers will no longer have access to the brands because of where the stores were located and that the company would like to “keep in contact with its loyal customers and also to expand its customer base to include other beauty customers.”
In a separate acquisition, CSC Generation has agreed to pay $900,000 for Bon-Ton’s intellectual property assets, which includes its trademarks and different web sites for the nameplates that operated under the retailer’s corporate umbrella. Bon-Ton filed its bankruptcy petition in February, and going-out-of-business sales were completed last month. It wasn’t immediately clear what CSC, a technology firm, would do with the IP assets, although it reportedly is looking at bringing back a brick-and-mortar presence for Bon-Ton.
Both purchases still require Delaware bankruptcy court approval.