Carson, Inc. Appoints Former Charles of the Ritz Executive President and CEO of New Dermablend Subsidiary.SAVANNAH Savannah, city, United States Savannah, city (1990 pop. 137,560), seat of Chatham co., SE Ga., a port of entry on the Savannah River near its mouth; inc. 1789. , Ga.--(BUSINESS WIRE)--Dec. 22, 1998--Carson, Inc. (NYSE NYSE See: New York Stock Exchange :CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. ), announced today the appointment of Tim Hogan, a former President of Charles of the Ritz Charles of the Ritz is a cosmetics brand known today for its line of perfume fragrances. Foreground In 1916, coiffeur Charles Jundt took over the Manhattan beauty salon of the New York City Ritz (later the Ritz-Carlton) hotel. , as President and Chief Executive Officer of its Dermablend, Inc., subsidiary, a leading manufacturer and marketer of corrective cosmetics. Carson is the leading international manufacturer and marketer of personal care products for people of color Noun 1. people of color - a race with skin pigmentation different from the white race (especially Blacks) people of colour, colour, color race - people who are believed to belong to the same genetic stock; "some biologists doubt that there are important . "We believe that Dermablend has significant growth potential in its niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. , and with Tim Hogan leading the effort I have ever confidence that the Dermablend brand will reach its goals," said Gregory J. Andrews, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Carson Dermablend was acquired this past June as part of the acquisition of Johnson Products. "Our initial thinking was to sell Dermablend, but after careful analysis of its potential it made good sense to retain the company, especially since we were able to put highly experienced management into the situation. In addition, and not unimportantly, approximately one-third of Dermablend's product line is sold to the ethnic market, thus it is very much in keeping with our Company's committed focus on this area. One of the areas we anticipate seeing strong growth is internationally, particularly in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. through our subsidiary, Carson Holdings." "Dermablend has an extremely loyal and growing consumer base, strong product attributes and a position in the cosmetic category that is unique," said Mr. Hogan. "The product can truly change people's lives, and we see opportunities to improve on service levels to consumers by focusing on fundamentals and execution." While Mr. Hogan headed up Charles of the Ritz, then a subsidiary of Squibb Corporation, he was instrumental in driving sales to over $579 million and earnings to $70 million. He has spent 23 of his 30-year business career in the Cosmetic, Personal Care and Home Fashions markets. Carson, Inc. is the leading global manufacturer and marketer of hair and skin care products which are specifically formulated to address the unique characteristics of people of African descent. Carson sells its products in the U.S. and in over 60 countries around the world under the leading brand names Dark & Lovely, Gentle Treatment, Magic Shave, UltraSheen and Dermablend. Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items; together with other statements that are not historical facts, are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined under Federal Securities Laws. "Forward-looking statements" are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, industry cyclicality, fluctuations in customer demand and order patterns, the seasonal nature of the business, changes in pricing, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. |
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