Top Companies Report

17. Elizabeth Arden

June 28, 2012

Miramar, FL
Sales: $1.1 billion.
Net income: $40 million for the year ended June 30, 2011.

Key Personnel: E. Scott Beattie, chairman, president and chief executive officer; Joel B. Ronkin, executive vice president and general manager, North America; Dirk Trappmann, executive vice president and general manager, international; Kathy Widmer, executive vice president and chief marketing officer; Stephen J. Smith, executive vice president and chief financial officer; Pierre Pirard, executive vice president, product innovation and global supply chain; Oscar E. Marina, executive vice president, general counsel and secretary; L. Hoy Heise, executive vice president and chief information officer.

Major Products: Elizabeth Arden skin care, color and fragrance products; Prevage skin care; Fragrances—Britney Spears, Elizabeth Taylor, Mariah Carey, Taylor Swift, and Usher; the designer fragrance brands of Juicy Couture, Alberta Ferretti, Alfred Sung, Bob Mackie, Geoffrey Beene, Halston, John Varvatos, Kate Spade, Lucky Brand, and Rocawear; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne.

New Products: Justin Bieber, Nicki Minaj, Ed Hardy, True Religion and BCBG Max Azria fragrances (licenses).

Comments: Bieber Fever? Elizabeth Arden’s got it, as well as a thing for Nicki Minaj. Last month, the company acquired the fragrance licenses for both recording stars for an undisclosed amount. What also wasn’t disclosed is how profits from sales of Bieber fragrances will be distributed. Give Back Brands, the company that held the Bieber license, was a non-profit organization that distributed its profits. Clearly, Elizabeth Arden acquired the Bieber license to make a buck or three.

Someday, the first fragrance from Bieber, debuted in Spring 2011 and became the No. 1 women’s fragrance launch of 2011 in US department stores, according to NPD Group, Port Washington, NY. The second fragrance, Justin Bieber’s Girlfriend, is currently launching in US department stores. Nicki Minaj, an R&B/hip hop artist, will launch her first scent in US department stores this fall.

The Bieber and Minaj license acquisitions came one month after Elizabeth Arden acquired the licensing rights to Ed Hardy, True Religion and BCBG Max Azria.

For the nine months ended March 31, 2012, Elizabeth Arden’s sales rose 5.5% to $972.7 million and net income jumped 51% to $35.5 million. According to E. Scott Beattie, the company’s results were in line with expectations. In the coming months, Elizabeth Arden will roll out new packages and product formulations as part of its brand repositioning.

“We continue to make considerable progress toward this initiative, which we believe will be transformational for our company,” explained Beattie. “We are on schedule to accomplish the rapid conversion of approximately 50 flagship customer doors by the end of September 2012, with a broader group of our customer doors to follow.”

For fiscal 2011, sales rose 6.5% and net income more than doubled. North American sales increased by 5%, according to the firm. International sales rose 9% on the strength of European and travel retail and distributor businesses. Global sales of Elizabeth Arden branded products increased by 8%, reflecting the company’s success at growing the Elizabeth Arden brand and the re-alignment of its marketing organization to better support global brand management, according to Beattie.


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