NEW YORK — Booming sales from its cosmetics and fragrances division pushed recent Procter & Gamble acquisition The Wella Group to a double-digit earnings increase for the third quarter.
This story first appeared in the November 13, 2003 issue of WWD. Subscribe Today.
For the three months ended Sept. 30, the Damstadt, Germany-based hair and beauty products manufacturer reported a 20.1 percent jump in earnings to $46.6 million from $38.8 million in last year’s comparable period.
Sales increased 1.7 percent to $962.9 million against $956.9 million last year.
Dollar figures have been converted from the euro at current exchange as Wella reported net income of 40.1 million euros on sales of 827.4 million euros.
Buoying results were strong sales in the company’s cosmetics and fragrances division, which reported an 11 percent increase to $252.6 million, or 217.2 million euros. Professional division sales rose 1.2 percent to $436.5 million, or 375.3 million euros. Sales of consumer products weighed on results, sliding 4.8 percent to $273.3 million, or 234.9 million euros.
For the nine months to date, the company said earnings rose 18.2 percent to $94 million, or 80.8 million euros, against $79.5 million, or 68.3 million euros, last year.
Sales slid 1.8 percent to $2.76 billion, or 2.4 billion euros, from $2.81 billion, or 2.41 billion euros, last year.
— Ross Tucker
PARIS — Barbara Bui is breaking into beauty.
The designer has signed a worldwide licensing agreement with Paris-based Parfums Parour to develop fragrances for the signature fashion brand. A debut scent — created by Parfums Parour’s newly formed prestige division — is slated for France in fall 2004. The fragrance’s international rollout will start in January 2005.
Terms of the deal were not disclosed.
“There is part of a woman’s identity that can be expressed with fragrance that can’t be expressed by fashion,” Bui told WWD in a telephone interview, adding that she has been planning to work on a scent for years.
The designer noted that while she has an eclectic taste in fragrances, she finds most too strong. “I have trouble finding a fragrance for myself — that’s why I’m creating my own,” she explained.
Parfums Parour also manufactures mass market fragrances and skin care products.
— Brid Costello
Kiehl’s and a Pear Tree
Kiehl’s Since 1851 got in touch with its historical roots Wednesday, with the help of a host of distinguished New Yorkers that included former Parks Commissioner Henry Stern, Kiehl’s president Philip Clough and former owner Jami Morse Heidegger.
As reported, Kiehl’s original space — which it reclaimed this fall — occupied a location known as Pear Tree Corner. The original pear tree had been planted by Peter Stuyvesant, the governor of what was then called New Amsterdam, on the corner in 1647; it was destroyed in a wagon accident in 1867.
On Wednesday, a new pear tree was dedicated on the corner, accompanied by a proclamation from Mayor Michael Bloomberg declaring the day Kiehl’s Day. Stern led the crowd in reciting Joyce Kilmer’s poem, “Trees.”
“It is our hope that this new pear tree will offer a vibrant symbol of Kiehl’s commitment to the city of New York,” said Clough.
— Julie Naughton