- Designer Parfums and LUXE Brands have formed a joint venture, Fekkai Brands, LLC, to acquire the business
NEW YORK, May 21, 2015 /PRNewswire/ -- 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 June 30, 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.
About Frédéric Fekkai & Co.
Frédéric Fekkai & Co. is the leader in luxury hair care, offering a complete range of innovative products and exclusive, full-service salons. Fekkai products are distributed through the finest beauty retailers around the world and Frédéric Fekkai Salons.
About Designer Parfums
Designer Parfums is a family-owned, entrepreneurial business and has established itself as a creative and innovative force in the world of fine fragrance and beauty. Their current portfolio of brands are wholly owned or operated under license – investing in both fashion and beauty, it contains a broad spectrum of designer and lifestyle brands, including the renowned House of JEAN PATOU. Designer Parfums plans to expand its portfolio of brands through brand ownership, license and distribution agreements in order to cover all major markets.
About LUXE Brands
LUXE Brands is a prestige beauty company with a portfolio of brands distributed in over 70 countries. It was founded with the mission to develop world-class brands that will endure. The company plans to continue to expand its diverse brand portfolio and establish a solid foundation in the beauty industry. In September 2015, LUXE will launch the highly anticipated Ariana Grande fragrance. The company has also added DDF to its portfolio, a top dermatologic skincare brand.
SOURCE LUXE Brands