Sales: $150 million
Sales:$150 million (estimated).
Key Personnel:Michael McNamara, chief executive officer; Cristina Carlino, brand founder and executive chairman; Gretchen Price, chief financial officer.
Chief Scientific Officer:
Chief Marketing Officer:
Major Products:Hope in a Jar, Purity Made Simple, Amazing Grace fragrance and ancillaries.
Hope in a Jar High Performance with SPF 20, Foaming Purity Made Simple.
Comments:In March 2007, The Carlyle Group, a global private equity firm, acquired Philosophy. Born from Biomedic, the medical company that pioneered popular in-office treatments such as the micropeel, the international prestige skin care and cosmetics brand was established in 1996. Philosophy products are sold through multiple complementary channels of distribution, including direct response television and prestige retailers.
The company named Gretchen Price chief financial officer this year. Ms. Price joined Philosophy from The Procter & Gamble Company (P&G), where she held numerous senior financial positions over her 31-year tenure, including treasurer, controller and general manager. She most recently served as the vice president, finance, global operations at P&G.
According to the company, Ms. Price is the second high-profile executive to be hired by Philosophy since the company was acquired by The Carlyle Group. In May 2007, Carlyle recruited chief executive officer Michael McNamara from Neutrogena Corporation, which he had run since 1999.