ARDEN SAID TO BE SELLING LASZLO
NEW YORK — Elizabeth Arden had no comment Thursday on reports that two cosmetics industry veterans are seeking to buy the company’s Erno Laszlo treatment and color cosmetics brand.
Sources said Paul Masturzo, former executive vice president and general manager of Arden’s U.S. business, and Richard Recker, former senior vice president of sales at Giorgio Beverly Hills, are the potential buyers. Discussions are still in the early stages.
Masturzo, whose responsibilities included Laszlo before he left Arden last August, could not be reached for comment. Neither could Recker.
In October 1992, Arden’s parent, Unilever, tried to sell Laszlo, but failed to get an acceptable offer, said an Arden spokeswoman; Laszlo, with estimated wholesale sales of $18 million, was taken off the block.