BAKER EXITS BORGHESE
NEW YORK — Sherry Baker resigned as president for North America of Halston Borghese Thursday, the day the company announced major ownership changes. Halston Borghese said it has decided to retain the Princess Marcella Borghese cosmetics and fragrance brand, following the collapse of negotiations to sell the brand to an investor group led by Francesco Borghese.
Although the company previously said it wanted to sell all its brands, the owners apparently have changed their minds about Borghese.
But on the fragrance front, Paul Sebastian has acquired the firm’s Nautica brand, confirming a report that appeared in WWD Jan. 19, page 5. Tropic Tex has acquired the Halston licensing business for nonfragrance goods.
As reported, French Fragrances acquired the Halston fragrances.
Michael D’Appolonia joined the company in February to oversee the divestiture, but he will stay on as chief executive officer and president. “The owners of the company are committed to Borghese and will continue to invest to develop the franchise,” he said. “From their perspective, they weren’t able to realize the value they thought was inherent in the brand.”
He praised the job Baker had done in managing the business over the last two years.
Baker’s only explanation for her departure, which takes effect at the end of the month, was that the ownership had changed and she felt it was time to move on. Francesco Borghese had no comment about the breakdown of negotiations, other than to say, “We met every criteria and we were ready to do the deal.”