Procter & Gamble to sell Frédéric Fekkai brand, salons to JV between Designer Parfums and LUXE Brands execs

Provided exclusively by Mergermarket

Designer Parfums CEO Dilesh Mehta and Tony Bajaj, Founder and CEO of LUXE Brands, have collaborated to form a joint venture to acquire the Frédéric Fekkai luxury hair care brand and salons from Procter & Gamble, effective 30 June 2015. This newly formed entity is called Fekkai Brands, LLC. The Fekkai product line is distributed in some of the finest beauty retailers as well as in Fekkai’s namesake salons. Frédéric Fekkai, its founder, is the leader in luxury hair care. Mr. Fekkai retains his role as adviser and Brand architect at the flagship salon on 5th Avenue in New York.

The Fekkai business comprises a range of award-winning hair products and seven salons in New York, Connecticut, Florida, Texas and California. Approximately 225 people are currently employed in the salon business; they are expected to transfer to the newly formed entity.

“We are excited to be working with the extraordinary talent of Frédéric Fekkai and the Fekkai brand to optimize and further develop his brand of world class and innovative hair care products,” said Dilesh Mehta. Added Tony Bajaj: “This latest addition to our portfolio expands upon our vision to extend into every area of beauty; we cannot imagine a more perfect partner than Frédéric Fekkai, the premier brand in hair care and salons.”

The Fekkai acquisition marks the latest exciting step in expanding ever-growing and diversified portfolio, which includes the widely anticipated Ariana Grande fragrance, set to launch in September 2015, the legendary House of Jean Patou fragrances, including the iconic JOY, and DDF, the well-known dermatologic skincare brand.

Source Company press release.

As seen in the mergermarket newsletter on 21/05/2015

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