8 Big Deals, p. 4
4. LVMH: Ole Henriksen
Luxury-products group LVMH Moët Hennessy-Louis Vuitton announced in February that it acquired skincare company Ole Henriksen.
“Ole Henriksen has developed a unique skincare brand with great consumer appeal and clear prospects for continued success,” said Antonio Belloni, LVMH group managing director, when the announcement was made. “We are proud to welcome Ole Henriksen into the LVMH family and participate in the next phase of its development. In particular, Ole Henriksen will benefit from working closely with Sephora—our fast-growing, global prestige-beauty retailer—to accelerate the brand’s worldwide expansion.”
When it was bought, Ole Henriksen products were being sold at Sephora as well as spas and select beauty stores in 22 countries.
Skincare specialist Ole Henriksen created the brand in 1985, following studies in cosmetic chemistry and hands-on experience treating celebrities at his Los Angeles spa.
After the acquisition, he remained the brand’s visionary/creative director, and the company’s headquarters stayed in Los Angeles.
A new CEO—who will report to CEO and president of Sephora Americas David Suliteanu—is expected to be appointed, said the company when it announced the deal.