LVMH Mot Hennessy Louis Vuitton, the world’s leading luxury products group, has completed the acquisition of Ole Henriksen, a leading botanical skincare company founded and owned by its namesake. Terms of the transaction were not disclosed.
The acquisition of Ole Henriksen is aligned with the strategies of LVMH, which include identifying brands with strong, long-term potential and helping them to capitalize on it.
Ole Henriksen, the namesake of the brand, is a world-renowned skincare specialist. In 1985, following studies in cosmetic chemistry, along with his hands-on experience treating Hollywood’s most famous complexions at his Los Angeles spa, he created the ultimate in at-home luxury – botanical-based skincare that treats the face and body while helping to achieve overall health and wellness. The brand is currently sold at Sephora as well as spas in a total of 22 countries. LVMH will focus on future product development breakthroughs as well as expanding its international distribution.
“Ole Henriksen has developed a unique skincare brand, with great consumer appeal and clear prospects for continued success. We are proud to welcome Ole Henriksen into the LVMH family and participate in the next phase of its development. In particular, Ole Henriksen will benefit from working closely with Sephora -- our fast-growing, global prestige beauty retailer -- to accelerate the brand’s worldwide expansion,” commented Antonio Belloni, Group Managing Director of LVMH.
Demeter Group, the San Francisco-based investment bank for growth Consumer and Retail companies, acted as exclusive financial advisor to Ole Henriksen. Mr. Henriksen will remain the brand’s Visionary/Creative Director. The Company, which will continue to be based in Los Angeles, expects to appoint a new CEO in early 2011, who will report to David Suliteanu, CEO and President of Sephora Americas.