The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — UK buyout firm Lion Capital is considering a sale of skincare brand Perricone MD that could fetch more than $200 million, people with knowledge of the matter said.
Lion Capital is working with an adviser for the potential sale of the anti-aging skincare brand, founded by US celebrity dermatologist Nicholas Perricone, said the people, who asked not to be identified as the information is private. The adviser has started sounding out to potential suitors, the people said.
In any sale, Perricone MD will be joining other skincare brands in having new owners. US personal care giant Colgate-Palmolive Co. in July agreed to buy French anti-aging skincare company Laboratoires Filorga Cosmetiques for 1.5 billion euros ($1.67 billion), while Japanese cosmetic company Shiseido Co. agreed in October to acquire US organic skincare brand Drunk Elephant for $845 million.
Established in 1997, Perricone MD specialises in anti-aging products such as face lifting serum and neck firming cream, according to its website.
ADVERTISEMENT
The London-based private equity firm bought Perricone MD from San Francisco-based TSG Consumer Partners in 2014 for an undisclosed amount, according to a press release at the time.
Deliberations are at an early stage, and it may not lead to a transaction, the people said. A representative for Lion Capital declined to comment, while a representative for Perricone didn’t immediately respond to requests for comment.
By Vinicy Chan and Kiel Porter; editors: Fion Li, Liana Baker and Jeff Sutherland
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.