Posts Tagged ‘Philosophy’

L’Oreal Buying QVC Vendor IT Cosmetics For $1.2 Billion

July 24, 2016

One of QVC’s popular makeup vendors, IT Cosmetics, is being purchased by L’Oreal for $1.2 billion, the French company said Friday.

Let’s hope this doesn’t mean a decline in the the up-and-coming makeup line, which according to Bloomberg News is based in our home state, in Jersey City.

http://www.bloomberg.com/news/articles/2016-07-22/l-oreal-agrees-to-acquire-it-cosmetics-for-1-2-billion-in-cash

Prior popular lines on QVC, such as Bare Minerals and Philosophy, were later sold by their female-entrepreneur owners to giant corporations, leading customers to complain that the products’ quality declined subsequently.

According to The Wall Street Journal, IT Cosmetics had net sales of $182 million for the fiscal year ended June 30, a 56 percent jump over the prior year.

Here is the press release on the sale.

http://www.lorealusa.com/media/press-releases/2016/jul/it-cosmetics

Clichy, New York – 22 July 2016 – L’Oréal announced today the signing of a definitive agreement to acquire IT Cosmetics, one of the fastest growing prestige beauty brands in the United States for a cash purchase price of 1.2 billion US dollars.

Founded in 2008 by Jamie Kern Lima and Paulo Lima and co-owned by TSG Consumer Partners, IT Cosmetics was developed with leading plastic surgeons to provide women with innovative, problem-solving skincare and makeup products that empower them to feel confident and beautiful.

IT Cosmetics offers more than 300 high-performance beauty products focusing on color cosmetics, skincare, brushes and tools. IT Cosmetics’ multi-channel distribution model includes select television shopping channels including QVC and TSC, specialty stores including ULTA and Sephora, and the brand’s website. For the 12 months ending June, 2016, IT Cosmetics had net sales of 182 million US dollars, up by 56%.

“IT Cosmetics shares L’Oréal’s passion for product innovation and our belief that offering beauty for all is a deeply purposeful mission,” said Frédéric Rozé, President and CEO of L’Oréal USA. “The brand has earned the devotion of its highly engaged consumers and we see potential for significant growth in the years to come.”

IT Cosmetics will become part of the Luxe Division of L’Oréal.

“IT Cosmetics will perfectly complement the L’Oréal Luxe’s brand portfolio to satisfy the rising demand for make-up as well as hybrid skincare. We are happy to welcome IT Cosmetics to the L’Oréal dream team which includes other great beauty brands such as Lancôme, Kiehl’s, Yves Saint Laurent, Armani and Urban Decay,” said Nicolas Hieronimus, President L’Oréal Selective Divisions.

The brand will continue to operate out of its Jersey City, New Jersey headquarters under the current leadership team.

“At IT Cosmetics our mission is to make the world more beautiful through our products, through our actions and through our belief that every woman is beautiful and deserves to feel her most beautiful,” said Jamie Kern Lima, Co-Founder & CEO, IT Cosmetics.

“Our makeup and skincare products are not only game-changing in their innovation, they are also life-changing for real women everywhere. Partnering with L’Oréal and utilizing the power of their global infrastructure will help us scale our mission in an even bigger way and we couldn’t be more excited.”

The closing is subject to the standard regulatory approvals and other customary conditions.

Mally And Beauty Products Thrive On QVC

August 9, 2013

The New York Times apparently just discovered that QVC sells cosmetics, and the paper’s Thursday Style section did a story on this news-making  development, headlined “Telling Stories, Selling Beauty,”

http://www.nytimes.com/2013/08/08/fashion/telling-stories-selling-beauty.html?ref=todayspaper

Much of the article focused on QVC beauty vendor and unspeakably bubbly Mally Roncal, she of the lion-like mane of gorgeous hair. The Times described her as “all flouncy hair and eyelashes.”

We swear by her mascara, by the way.

The reporter was at QVC’s headquarters in PA to see Mally and host Albany Irvin pitch Mally’s makeup line. QVC tells us that Mally does makeup for celebs, but never names who they are. The Times does. Beyonce and Jennifer Lopez are among Mally’s clients.

Mally Roncal and friend

Mally Roncal and friend

Here are some things The Times tells us about QVC’s beauty business:

1. Mally Beauty, based in Baltimore, has sold more than 7 million units.

2. Beauty accounts for 16 percent of QVC’s business, an increase from 9 percent in 2003.

3. QVC has sold $5 billion in beauty products around the world since 2009.

4. QVC’s customers are 83 percent female.

5. QVC’s Top 5 beauty vendors are Philosophy, Mally Beauty, WEN Hair Care, Bare Escentuals and Perricone MD.

6. QVC constructed a new set for beauty shows.

HSN got a brief plug in the story, for selling cosmetics from Urban Decay and fragrances from stars such as Mary J. Blige.

QVC’s Ubiquitous Vendor Philosophy Sold To Coty For Reported $1 Billion: That’s A Lot Of Hope In A Jar

November 23, 2010

We don’t know if this means you’ll be seeing more Philosophy products on QVC or not — if that were even possible — but the Phoenix-based skincare company is being sold to Coty.

Philosophy’s owner, the private equity firm The Carlyle Group, may have fetched In the neighborhood of $1 billion for it, Bloomberg News reported Tuesday.

“The acquisition of philosophy will allow Coty to further diversify and expand its Coty Prestige division, which will manage the Philosophy portfolio,” Coty said in its press release.

“Philosophy is a beauty brand focused on skin care, with an important presence in bath and body. Founded in 1996, Philosophy has created a strong emotional connection with its consumer, thanks to the unique combination of brand approachability and product performance.”

The Philosophy product line, which is sold in QVC, Sephora, Ulta, Nordstrom and other premier retailers, is expected to generate sales of more than $200 million in 2010.

Coty’s big Kahuna also chimed in with his hype.

“Philosophy is one of the beauty industry’s most prestigious brands and a fantastic addition to the Coty family,” Coty CEO Bernd Beetz said in a prepared statement. “This acquisition will allow Coty to strengthen its presence in the skincare category, which is one of our key strategic objectives. Philosophy is a perfect fit with Coty. We have a common focus on innovation, passion for brand development.”

And another Coty bigwig got in the release.

“Philosophy is a perfect fit with Coty. We have a common focus on innovation, passion for brand development and entrepreneurial culture, and highly complementary brands,” said Michele Scannavini, president of Coty Prestige. “We believe the brand still has significant growth potential in the U.S. and tremendous opportunities in the international markets.”

Philosophy CEO Ken Stevens is thrilled with the deal.

“Philosophy’s success is driven by providing women with products that deliver results and inspiration,” he said. “We thrive on innovation and are extremely excited to join Coty, a company that shares our passion for delighting consumers with superior products. We look forward to significant growth as part of the Coty global portfolio of brands. I am grateful for the wise counsel and confident support that Sandra Horbach and the Carlyle team always provided to me in the running of this business.”

Financial terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals and is expected to close in December.

Blackstone Advisory Partners served as financial advisor to Coty in connection with the transaction. Goldman Sachs & Co. acted as financial advisor to philosophy. Gibson, Dunn & Crutcher LLP served as legal advisor to Coty in the transaction. Latham & Watkins LLP served as legal advisor to philosophy.

“Philosophy has achieved great success under our ownership thanks to the hard work of Ken Stevens, his management team and philosophy’s many devoted associates,” Sandra Horbach, managing director of The Carlyle Group, said in a canned statement. “We recognize and thank Philosophy founder Cristina Carlino for creating this unique brand and for her years of dedication to the company. Coty is an outstanding partner for Philosophy, and we wish them continued success.”

Here is Philosophy’s boilerplate: “Philosophy is a brand that approaches personal care from a skin care point of view, while celebrating the beauty of the human spirit. Our products, which include hope in a jar, purity made simple, amazing grace, microdelivery peel and miracle worker, are formulated with scientifically-proven ingredients and technologies.”

Yes, We Are Sick Of Seeing Philosophy On QVC

June 5, 2010

A QVC viewer was blasted last week for starting this thread on the online forum on Philosophy, the beauty and fragrance line: Is anyone as tired as she is of Philosophy products being featured on the home shopping channel?

“OK, I use 1 Philosophy product,” wrote one poster on the Philosophy-bashing thread. “But overall I am sick of their line their smells…everything! There I said it. What a relief! I go into one boutique in my town filled with it and I can’t get why EVERYBODY is a “Philosophy” girl?”

She went on, “When I called Arizona (where Philosophy is headquartered) to ask a question on 2 occasions they were rude…. Purity Made Simple won’t budge my Chanel Waterproof eyeliner with ease. Cute packaging won’t hide what’s inside!”

This had Philosophy’s fans fuming, especially since the seering complaint was posted on the line’s forum. “Go to another line and don`t bash those of us who love the products,” wrote one Philosophy cheerleader. “Pretty simple solution, don`t you think?”

But the woman who started the “Tired-of-” thread was at it again, defending herself, on a thread called “Phil TSV must have been a real dud.”

She wrote, “I started a thread ‘PHILOSOPHY IS ANYONE AS SICK OF IT AS I AM?’ Well the fur really went flying on the Philosophy ‘floor.’ How dare I, they began not post it on Beauty Banter instead. This was for ‘Philosophy Girls’ only! I ‘m on the Dooney site and we have negative posting, but haven’t seen such proprietary adoration since middle school-even grade school.”

Well, Philosophy fans, you can blast us, as well. We, too, are sick and tired of turning on QVC and practically every day seeing a Philosophy presentation. It was the same with fashion designer Marc Bouwer last week. He had three or four shows on during the span of just one day!

Does QVC own a piece of Philosophy and Bouwer?

We have been using Philosophy’s “Hope In A Jar” face cream for more than a year, and have it on auto-delivery, and our face still doesn’t feel soft enough.

The jar says, “Where there is faith miracles can occur.” We believe that in general, but not for “Hope In A Jar” anymore.

It may be time to dump the auto-ship.

We Hate To Break It To You, Fellow Jewelry Lovers, But It Looks Like Another Year Of Boring Laptops, B. Makowksy Bags and Wii On QVC

February 25, 2010

Mike, enough with the Clarisonic, cause we don't care if it's one of Lisa's favorite things

QVC had a great fourth quarter, which is good for the home shopping network but bad for jewelry geeks like us.

The U.S. channel, a unit of John Malone’s Liberty Media, Thursday reported a 13 percent jump in revenue to $1.7 billion in the fourth quarter.

“We posted our strongest quarterly results in over 10 years, and moved our full-year results into positive territory,” QVC CEO and president Mike George told analysts during a conference call Thursday.

And George got a pat on the back from his boss, Liberty CEO Greg Maffei.

“At Liberty Interactive, QVC had a very impressive fourth quarter, which capped a greatly improved 2009 overall,” Maffei said.

Why is all this bad news for bling lovers? George said that QVC saw the revenue gains because it posted strong sales on consumer electronics, kitchen and floor care, beauty, accessories and fashion jewelry. Apparel, while soft, improved significantly over the trend for prior quarters, according to George.

“Jewelry, especially gold, did remain difficult, however,” he said, at one point noting, “We continue to pull back our time on jewelry.”

That means more Wii and Clarisonic shows, not sterling and gold (fashion jewelry doesn’t count). Break out the No-Doz.

George spent quite a bit of time crowing about Isaac Mizrahi joining the QVC family, but offered no numbers on how well the designer’s extensive line of products have sold.

“Compelling exclusive content is powering our business,” he said, calling the debut of the Mizrahi line as “one of the biggest brand launches in our history.”

QVC also premiered Godiva chocolate, NARS cosmetics, Stephen Dweck diamonds and fashions by celebrity styliest Rachel Zoe in the fourth quarter, said George, who boasted that the channel in its history had never had the level of publicity and buzz it got in the final quarter.

Veteran brands on QVC — B. Makowsky, Rachael Ray, Philosophy, Bobbi Brown and Dennis Basso in fashion — performed well in the quarter, according to George.

Some 720,000 new customers joined QVC in the fourth quarter (which we presume means they made purchases), a 22 percent increase in the number of new customers a year ago. Revenue from new customers was up 53 percent from last year.

“At any given point in time we have 10 non-customers watching QVC for every customer watching QVC,” George said. “So when we get it just right, and get the right kind of products that have high appeal to new names, as we did in Q4, you can really get explosive growth without any additional advertising or other support, just by people coming by the channel.”

He also attributed some of QVC’s fourth-quarter success to the more favorable channel position it now has on DirecTV and Dish Network, and the fact that the network’s HDTV channel is now in more than 25 million homes.

In December QVC launched an iPhone application that’s been downloaded by 115,000 customers in a little over two months, George said.

QVC Aims To ‘Redefine’ Black Friday With 28 Hours Of Non-Stop Shopping: Give Thanks For Three Today’s Special Values

November 23, 2009

In a PR Blitz that even caught the Associated Press’s attention, QVC Monday announced it is looking to give brick-and-mortar stores a run for shoppers’ money on Black Friday.

In a press release, QVC claimed it “is seeking to redefine Black Friday by offering all of the deals shoppers are looking for, with none of the craziness.”

To kick off “The New Black Friday, QVC is inviting America to get a jump-start on its post-turkey gift shopping with 28 hours of nonstop holiday shopping,” we are told.

The games Thursday, Thanksgiving evening, at 8 p.m. and continue until Friday at 11:59 p.m.

QVC Host Dave James

“When conventional retailers zig, QVC zags,” Claire Watts, QVC’s president of U.S. Commerce, said in a prepared statement. “This year, we’re joining the Black Friday fray – but in our own way – to make holiday gift shopping easier and more enjoyable than ever. The New Black Friday event at QVC offers a welcome escape from the mayhem – no long lines, no traffic, plus our customers can rest assured, knowing that they found really special gift ideas, at exceptional values.”

In addition to five hours of all-new, specially priced gifts Thanksgiving evening, QVC will offer three Today’s Special Value offers, items presented at exceptionally low prices, for a specific period of time. Holy crow!

AP’s David Bauder — who is a very nice guy, by the way — reported that QVC host Dave James will stay up 28 hours straight to do “telethon-like coverage” of the Black Friday event.

QVC shoppers will also get a sneak peek at the TSV for Saturday at QVC.com.

The nonstop shopping continues throughout the day on Black Friday, as QVC will offer a specially priced offer in every hour of programming. There will also be additional, specially priced offers at QVC.com.

QVC’s Black Friday programming will include, keeping with that Thanksgiving theme, “a cornucopia of terrific holiday gift-giving ideas”, the press release says.

Those include: the Nintendo Wii Gaming System with accessories, case and games; Panasonic HD Video Camera; Clarisonic Facial Cleansing System (enough with that damned Clarisonic!); and Philosophy Merry-Mint Chocolate Box 3-in-1 Shower Gel Duo.

Throughout the holiday season, QVC has extended its returns policy; gifts purchased between now and Dec. 23 may be returned up until Jan. 31 next year. But that’s not special: HSN and ShopNBC have done the same.