05.04.10
A sun block is on the block. Lloyds TSB Development Capital is putting tanning brand St. Tropez up for sale.
Rothschild investment bank was appointed last week to oversee the deal. St. Tropez generates annual retail sales of more than $90 million, but its CEO insists the brand has a lot of upside...an awful lot of upside.
“I think St. Tropez could be a $1 billion brand,” said Michelle Feeney, St. Tropez’s chief executive officer, adding the company’s profits have doubled in the last two years.
The beauty industry has been abuzz with merger and acquisition activity of late. Last month, L’Oréal inked a deal to acquire nail polish company Essie Cosmetics, for instance, while in March Avon snapped up Liz Earle Beauty Co.
Rothschild investment bank was appointed last week to oversee the deal. St. Tropez generates annual retail sales of more than $90 million, but its CEO insists the brand has a lot of upside...an awful lot of upside.
“I think St. Tropez could be a $1 billion brand,” said Michelle Feeney, St. Tropez’s chief executive officer, adding the company’s profits have doubled in the last two years.
The beauty industry has been abuzz with merger and acquisition activity of late. Last month, L’Oréal inked a deal to acquire nail polish company Essie Cosmetics, for instance, while in March Avon snapped up Liz Earle Beauty Co.