FRANCE. LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, has acquired Ole Henriksen, a leading botanical skincare company founded and owned by its namesake. Terms of the transaction were not disclosed.
Ole Henriksen is a world-renowned skincare specialist. In 1985, following studies in cosmetic chemistry, along with his hands-on experience treating Hollywood’s most famous people at his Los Angeles spa, he created botanical-based skincare that treats the face and body while helping to achieve overall wellness.
The brand is sold at Sephora as well as spas in 22 countries. LVMH will focus on product development breakthroughs as well as expanding its international distribution.
Henriksen will remain the brand’s Creative Director. The company, which will continue to be based in Los Angeles, expects to appoint a new CEO in early 2011, who will report to Sephora Americas CEO and President David Suliteanu.
“I am thrilled to join LVMH,” said Ole Henriksen. “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-recognised and most highly desired brand in the skincare market.”
Accelerating the brand’s worldwide expansion
LVMH Group Managing Director Antonio Belloni commented: “Ole Henriksen has developed a unique skincare 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, our fast-growing, global prestige beauty retailer, to accelerate the brand’s worldwide expansion.”
The acquisition of Ole Henriksen is aligned with the strategy of LVMH, which includes identifying brands with strong, long-term potential and helping them to capitalise on it, the French group said.
The company added that it had a strong track record of successfully partnering with innovative beauty 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,” it noted.
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