KALINA TO SET IPO: Kalina, Russia’s largest producer of cosmetics, is preparing to make an initial public offering, likely within the next few weeks, company sources say. “We are preparing to list our shares on the Moscow exchange,” a Kalina official said. “This will probably take place in the near future.” The company has not made any final decision on the size of the issue, nor on its indicative price range, but expects to do so following the release later this month of its accounts for 2003, the official added. Kalina, based in Yekaterinburg in Russia’s Urals region, reported annual sales of $168 million, or 4.8 billion Russian rubles, last year. It is particularly strong in skin care, where the company claims a 33 percent market share. Kalina also has activities in the Ukraine and Uzbekistan. The company’s main shareholder is its director, general Timur Goryayev, with a 66 percent stake. The European Bank for Reconstruction and Development holds about 19 percent. The Russian cosmetics market had turnover of $5.2 billion last year, up 16 percent from 2002, according to Staraya Krepost, a Russian trade organization.
TAKEOVER TALK: With a liquid 1.5 billion euros, or $1.79 billion, at hand, and another 1 billion euros, or $1.19 billion, worth of company-owned stock that could and “will be used,” Beiersdorf chief executive Rolf Kunisch is more than ready to shop. And the first place he’d like to drop those euros is in the American beauty market. In an interview Thursday in the German news weekly Focus Money, Kunisch reiterated his eagerness to see Beiersdorf grow through the acquisition of a company or companies that complement the Hamburg-based skin care giant’s portfolio. “And our biggest interest is in North America,” Kunisch acknowledged. “Talks are always going on,” he said, but added there were no concrete negotiations going on at the present. And while Kunisch didn’t deny that Revlon or Playtex are indeed on the block, “I won’t say more than that,” he stated for the record. An accompanying article in Focus Money also said The Estée Lauder Cos. was another Beiersdorf takeover goal. Kunisch was unavailable for comment and a Beiersdorf spokeswoman repeated that Beiersdorf does plan an American acquisition, “but no specific companies are particularly relevant.”
FIT TO HONOR TURNER: Teril Turner, director of marketing for Henri Bendel, will receive the 2003 SUNY Chancellor’s Award for Academic Excellence for her graduate work in the FIT masters of professional studies in Cosmetics and Fragrance Marketing and Management. Turner is the first graduate from the M.P.S. program at FIT to win this award.
FUEL EFFICIENT: Riviera Concepts Inc. is planning to launch a men’s fragrance called Hummer. Riviera has signed a licensing agreement with General Motors Corp. to launch the scent in North America, as well as the Toronto-based fragrance firm’s international markets, this fall.
“We are very pleased with this new and unique partnership with General Motors Corp. and the Hummer brand,” stated Adrian Ellis, president of Riviera Concepts. “This new brand is going to help strengthen our presence in the men’s fragrance arena.”