Patterson, who is also taking a seat on the board, has more 22 years of retail expertise building luxury brands, including most recently as co-president of Peter Thomas Roth Clinical Skincare. Under his leadership, PTR achieved record-breaking results. Prior to his tenure at PTR, he served as a senior executive at Bare Escentuals and several LVMH cosmetic divisions, including Benefit Cosmetics, Acqua Di Parma, and Bliss.
Patterson succeeds Sarah Rotheram, who resigned her positions with Cradle Holdings and affiliates to become chief executive of Aspinals of London, a manufacturer of luxury leather goods.
"We are delighted that Lance Patterson joined Cradle Holdings as its Chief Executive," stated Saul Fox, founding Member of Fox Paine, whose affiliated private equity fund is Cradle Holding's predominant investor. "Given Lance Patterson's track record building highly profitable and rapidly growing global luxury brands, he is ideally suited to oversee Penhaligon's and L'Artisan Parfumeur's efforts going forward."
Cradle Holdings, Ltd. is an affiliate of Fox Paine & Company, LLC, which is based in Woodside, CA.