LVMH Moët Hennessy Louis Vuitton completed the acquisition of Ole Henriksen, a leading botanical skin care company founded and owned by its namesake. Terms of the transaction were not disclosed. The acquisition of Ole Henriksen is aligned with the strategies of LVMH, which include identifying brands with strong, long-term potential and helping them to capitalize on it. In the perfumes and cosmetics sector, specifically, the group has a strong track record of successfully partnering with innovative brands such as Benefit, Make Up For Ever, and Fresh. These brands have each achieved significant growth as part of LVMH’s portfolio and they are positioned for continued success.
Ole Henriksen, the namesake of the brand, is a world-renowned skin care specialist. In 1985, following studies in cosmetic chemistry, along with his hands-on experience treating Hollywood complexions at his Los Angeles spa, Henricksen created an at-home luxury, botanical-based skin care line that treats the face and body while helping to achieve overall health and wellness. The brand is currently sold at Sephora, as well as spas in a total of 22 countries. LVMH will focus on future product development breakthroughs, as well as expanding its international distribution.
“I am thrilled to join LVMH. Supported by the global knowledge of the leading luxury products group, I am confident my brand can expand its presence well beyond what we have achieved today to become a world-recognized and most highly desired brand in the skin care market,” explained Ole Henriksen, founder of the Ole Henriksen line.
“Ole Henriksen has developed a unique skin care brand, with great consumer appeal and clear prospects for continued success. 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 to accelerate the brand’s worldwide expansion,” commented Antonio Belloni, group managing director of LVMH.
Demeter Group, the San Francisco-based investment bank for growth consumer and retail companies, acted as exclusive financial advisor to Ole Henriksen. Mr. Henriksen will remain the brand’s creative director, and the company, which will continue to be based in Los Angeles, expects to appoint a new CEO in early 2011. This person will report to David Suliteanu, CEO and president of Sephora Americas.