BeautyBank, a subsidiary of The Estée Lauder Companies Inc., and HSN announced plans to launch a beauty brand specifically developed for television retail, which BeautyBank has developed exclusively for distribution on HSN and HSN.com. The brand is expected to launch on HSN in July 2008.
BeautyBank, launched in 2004, is the entrepreneurial arm of The Estée Lauder Companies. The first venture for BeautyBank was the strategic alliance to create a cosmetics department for Kohl's Department Stores. The company has also collaborated with Coach, and has launched an exclusive fragrance in Coach freestanding stores.
"The primary mission of BeautyBank is to seek out and create original brands and business opportunities in alternative channels", said Jane Hudis, president, BeautyBank. "We have watched the amazing transformation of HSN under Mindy Grossman's leadership and feel she has created a vibrant, dynamic network, with a loyal and expanding consumer base, ideal as the launching pad of our new brand. We are just thrilled to be a key part of her growth plan for HSN and proud to be a part of this new movement."
"Beauty is the most demonstrable category in our business and because of that, lends itself particularly well to our array of multichannel assets, including TV, online, podcasts and assorted multimedia," said Mindy Grossman, CEO, IAC Retailing, HSN's parent company. "Jane Hudis and the team at BeautyBank fully appreciate the power of this media and by developing a brand specifically for it, have demonstrated once again the innovation and forward-thinking that is BeautyBank's hallmark."