US. BeautyBank, a subsidiary of The Estée Lauder Companies and HSN, an operating business of IAC, have announced plans to launch a first-to-market beauty brand specifically developed for television retail. The brand is expected to launch on HSN in July 2008.
BeautyBank has developed the brand exclusively for distribution on HSN and HSN.com. The collaboration is the first of its kind between a prestige beauty company and a television retail destination.
The brand will utilise strong visual elements paired with innovative demonstration techniques and will incorporate proprietary BeautyBank technology and ingredients, according to the Lauder group.
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 in the US.
The company has also collaborated with Coach and has launched an exclusive fragrance in Coach free-standing stores. This latest announcement marks The Estée Lauder Companies’ first foray into an exclusive deal with HSN.
“The primary mission of BeautyBank is to seek out and create original brands and business opportunities in alternative channels,” commented BeautyBank President Jane Hudis.
“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.”
HSN is described as an interactive lifestyle network and retail destination, offering a cultivated assortment of exclusive products combined with the “best of breed” in top brand names.
HSN’s beauty assortment, which currently comprises around 75 brands, is one of the company’s fastest growing segments.
Mindy Grossman, CEO of IAC Retailing, which includes HSN, noted: “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, pod casts and assorted multimedia.
“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.”
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