P&G closes Frédéric Fekkai deal

P&G closes Frédéric Fekkai deal

P&G closes Frédéric Fekkai deal

 

Procter & Gamble Co. has closed on its acquisition of Frédéric Fekkai & Co., a luxury hair care firm, further expanding its beauty business into high-end, professional products.

Fekkai, founded by stylist Frédéric Fekkai, operates salons in such cities as New York, Beverly Hills and Palm Beach, and its products are sold in Saks Fifth Avenue, Nordstrom and Sephora. Its broad line of shampoos, conditioners and styling gels are priced accordingly, with an 8-ounce bottle of full-volume shampoo tagged at $22.

By further expanding its hair-care portfolio into the prestige category, P&G can reach a broader cross-section of consumers who are, importantly, in a high-margin business. Earlier such moves include its 2003 acquisition of Wella, also a professional brand.

"With the closing of the deal behind us, we now look forward to partnering with the Fekkai organization to build the brand and grow the business together," said Craig Bahner, P&G's vice president and general manager for North America Hair Care, in a press release.

Frédéric Fekkai has been appointed "brand architect," and will continue to oversee creative efforts and brand image.

"I'm thrilled to continue to inspire and shape the essence of the Fekkai brand," he said in the release. "P&G is the ideal partner to build on my original vision of offering women the ultimate in luxury hair care."

The hair care company was owned by equity firm Catterton Partners, based in Greenwich, Conn.