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LVMH Acquires 70% Stake in Nude Skincare
Posted: February 11, 2011
LVMH Moët Hennessy has completed the acquisition of a 70% stake in Nude Skincare, a luxury performance skin care brand. Nude’s current shareholders will retain a 30% equity ownership in Nude Brands Ltd. Terms of the transaction are not being disclosed.
Nude is a pioneering biocompatible luxury skin care line using high performance bioavailable ingredients to deliver skin care results. The brand was founded in 2006 by Ali Hewson and Bryan Meehan. “We are delighted with our new partnership with LVMH. Our shared commitment to growing Nude Skincare and continuing to invest together in the principles that are fundamental to the success of the brand are extremely exciting. Nude Skincare has made great strides since its start, and with the benefit of LVMH’s support, the brand will no doubt be able to grow substantially and innovate at a much faster pace, consistent with the successful approach LVMH has had with other brands in the perfumes and cosmetics sector,” explained Hewson and Meehan.
“LVMH shares Nude’s vision and spirit of pioneering innovation in natural performance. Our group is proud to contribute to the development of Nude’s business and is committed to growing the brand true to its core beliefs and values. We believe Nude will be a global luxury skin care brand and are excited to work with Ali, Bryan and the team that they have built,” commented Antonio Belloni, group managing director of LVMH.
Nude Skincare will continue to be based in London. Bryan Meehan, founder and executive chairman of Nude Skincare, and Anna Ghee, general manager, will continue in their respective roles. Hugues Dusseaux, president of new ventures LVMH perfumes & cosmetics, will work with Nude on behalf of LVMH, as he does for Benefit and Make Up For Ever.