Prestige Beauty Brand Founded by Linda Rodin Offers an Indulgent Line of Luxurious Skin Care and Oils
NEW YORK. - Saturday, November 1st 2014 [ME NewsWire]
(BUSINESS WIRE) The Estée Lauder Companies Inc. (NYSE:EL) announced today that it has acquired RODIN olio lusso, a luxury skin care brand founded by the iconic New York stylist Linda Rodin. Terms of the deal were not disclosed.
Founded in 2007, RODIN olio lusso – which translates to “luxury oil,” to honor the easygoing Italian beauty aesthetic that has long inspired Ms. Rodin – provides a highly selective line of premium, sensorial products that appeal to discriminating consumers of all ages and skin types. RODIN olio lusso has unique positioning in the high-growth subcategory of skin care oils, and a devoted following of fashion and beauty connoisseurs around the world. The brand is currently sold in select high-end, trend-setting boutiques and specialty-retail channels, including Barney’s, Colette and Liberty.
The centerpiece of RODIN olio lusso is The Luxury Face Oil, which is mixed from a combination of eleven essential oils derived from flowers and botanicals. Many of these same oils are featured in the brand’s other products, including body oil, luxury hand and body cream, perfume, soap, a scented candle, and hair oil developed in partnership with renowned hairstylist Bob Recine.
“RODIN olio lusso is the ultimate ‘insider’ beauty brand,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies. “With its luxurious product line and strong creative point of view, we believe it has the potential to be a high-growth global skin care brand that strategically enhances our portfolio. Linda is truly an authentic creative force and has an incredible entrepreneurial spirit. I am thrilled to welcome her and her brand to The Estée Lauder Companies.”
Linda Rodin has had an exceptional career encompassing many facets of the fashion industry, from model to stylist. In 2007, she added “entrepreneur” to her resumé, when she began experimenting in her Manhattan apartment with mixing essential oils to create face and body oil products. Ms. Rodin started bringing samples of these oils on set, where they quickly gained a passionate following – soon, the brand was a “must-have” at certain photo shoots and backstage at select global fashion events. Ms. Rodin has led the expansion of the business since its inception, with the elegance and stylish minimalism that are the hallmarks of her brand.
“The guiding philosophy of my brand has always been that ‘there is beauty in simplicity,’” said Ms. Rodin. “The Estée Lauder Companies not only shares and embraces the core values that I’ve instilled into my business, but also has an amazing track record of nurturing and growing prestige brands while maintaining – and encouraging – the spark that makes them so unique. The Estée Lauder Companies is truly the perfect home for RODIN olio lusso.”
“The Estée Lauder Companies shares with RODIN olio lusso a deep-rooted legacy of creativity and entrepreneurialism,” said William P. Lauder, Executive Chairman of The Estée Lauder Companies. “This acquisition continues our strong history of identifying brands with unique positioning and nurturing them to realize their full growth potential. We are so pleased to welcome Linda to our family.”
The brand will be overseen by John Demsey, Estée Lauder Companies’ Group President, responsible for the Estée Lauder, M·A·C, Tom Ford, Prescriptives, Bobbi Brown, Bumble and bumble, Jo Malone, La Mer, Smashbox, and Aramis & Designer Fragrance brands.
Lowenstein Sandler LLP served as legal counsel to The Estée Lauder Companies Inc., while Linda Rodin received financial advice from Susan Newman, CPA, and legal counsel from Greenberg Traurig, LLP.
The forward-looking statements in this press release, including those in the quoted remarks and those relating to the expectations for the acquired brand, the impact on the Company's financial results and the benefits of the acquisition, involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the Company's ability to successfully integrate the acquired business and/or implement its long-term strategic plan, and those described in the Company's annual report on Form 10-K for the year ended June 30, 2014.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, Flirt!, GoodSkin Labs, Tom Ford, Coach, Ojon, Smashbox, Ermenegildo Zegna, Aerin Beauty, Osiao, Marni, and Tory Burch.
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