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Mousse Partners Selling Ulta Salon Stock

The venture-capital firm founded by Chanel Inc. executive Charles Heilbronn is selling more than 8 million shares in a secondary offering.

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MOUSSE TO SELL: Mousse Partners, the venture-capital firm founded by Chanel Inc. executive Charles Heilbronn, is selling more than 8 million shares of the common stock of Ulta Salon in a secondary offering for 7 million shares. On Monday, the underwriters of the public offering exercised their right to purchase nearly an additional 1.1 million shares from one of the selling stockholders. The offering is set to close today. Ulta Salon will not receive any proceeds from the offering.

The shares being sold are owned by affiliates of Mousse Partners. Following the sale, Mousse Partners will still own around 5 percent of Ulta, according to a filing with the Securities and Exchange Commission last week. Heilbronn, who is an executive vice president and secretary at Chanel, is also on the board of Ulta and is on both its corporate governance and compensation committees. The beauty retailer went public in 2007.

In addition to Ulta, Mousse has investments in cinema developer Lumiere in China and late last year provided seed capital to Chinese e-commerce firm Hui She Shang (The Luxury Club). It has also invested in fashion photo app Pose.com and LED optics technology start-up firm Illumitex. An 11 percent stake co-invested with Goode Partners in All Saints is believed to have been sold back to Lion Capital earlier this year. Heilbronn is a member of the Wertheimer family, which owns Chanel.