Most Recent Articles In Beauty Features
Latest Beauty Features Articles
Shiseido had announced its interest in bidding, but later withdrew from the competition. “There is not much merit for Shiseido to buy Kanebo,” said one industry source, who requested anonymity.
Kose is interested only in buying the cosmetics section. Meanwhile, some of the firms are believed to have entered bids simply to gain information about Kanebo and its competitors. Asked about L’Oréal’s interest, a company spokeswoman in Paris declined all comment.
Kanebo is expected to fetch as much as $4 billion, industry sources estimate.
Meanwhile, a number of Kanebo’s former executives, including former president Takashi Hoashi, were arrested recently in connection with an accounting scandal involving $2 billion, or 215 billion yen. Kanebo covered the net losses from the years between fiscal 1996 to 2004. Recently, Kanebo revised financial statements for the past five fiscal years.
“The prosecution is not a positive factor for the talk with applicants,” noted Hideo Sato, a beauty business consultant. “But it is necessary to get through this moment to revitalize the brand with a new partner.”
Kanebo is now concentrating on home products, pharmaceutical goods and foods. “Kanebo is currently making steady efforts towards the realization of its business revitalization plan,” the IRJC commented in a statement earlier this year.
— Koji Hirano
Pop Artist Romero Britto Does Sea-Inspired Scent
DALLAS — Brazilian pop artist Romero Britto has become an iconic favorite of presidents and celebrities with his colorful, whimsical and pricy paintings of flowers, dogs, hearts and butterflies — collectors include Bill Clinton, Elton John, Jennifer Lopez and Michael Jordan.
Additionally, designers Nicole Miller, Enrico Coveri and Rosa Cha reportedly have used Romero’s works as prints or color story inspirations.
Now, the Miami Beach-based Britto is spreading his creative and sensory wings with a new women’s fragrance, called Britto Azul, which is set to launch in November. Britto Azul joins his popular two-year-old women’s and men’s signature fragrance collection that’s a big hit at merchants such as Neiman Marcus Direct, among others. The Romero Britto fragrance lineup is licensed to Genesis International Marketing Corp. of Miami.