Coty to Acquire Chanel Beauty
In a surprising move, Coty Inc. has announced plans to acquire Chanel Beauty from Bourjois in a deal worth an estimated $239 million. The move gives the French luxury house a 4.2 percent stake in Coty. “I’m not surprised that Coty made an acquisition, as it’s always on the hunt for deals. I was surprised that Chanel is a seller, but with investment into Coty through stock they now can ride the upside on the whole company, and that may have been a key consideration,” said an inside industry source. Another source noted it’s unusual that Chanel would make a deal for shares, because it doesn’t need the cash.
Tommy Hilfiger Partners with Alexa Chung
Model, author and host Alexa Chung is teaming with Tommy Hilfiger as its guest editor for autumn. She has shared her must-have pieces from the women’s collection, ranging from holiday looks to outerwear. Chung also reveals her new favorite looks and style essentials on tommy.com/alexachung. There will be new outfits selected every month through January. “To be embraced by such a behemoth of an American fashion brand is a huge honor,” said Chung. The campaign will launch on the brand’s social media channels.
Neiman Marcus Unveils Christmas Book
The luxury department store has debuted their 88th annual Christmas Book, which is essentially a marketing campaign offering pricy gifts. This year’s most expensive item is the chance to blend a personal fragrance in Paris with master perfumer Olivier Creed, costing $475,000. The 186-page Christmas Book represents “an important part of Neiman Marcus and the brand,” according to Jim Gold, president and chief merchandising officer. Other exclusive experiences offered by the catalog include an all-inclusive trip to the Vanity Fair Academy Awards party, a trip to Germany to design a gold locket and a pair of jet skis. The majority of the money from purchases benefits the Heart of Neiman Marcus Foundation, which supports youth arts education.
– Claire Mykrantz
Source: WWD, WSJ