Printer Friendly

LIFETIME PRODUCTS ANNOUNCES PRODUCT ACQUISITION

 LIFETIME PRODUCTS ANNOUNCES PRODUCT ACQUISITION
 DALLAS, Dec. 4 /PRNewswire/ -- Lifetime Products, Inc. (AMEX: LPI)


today announced that its newly formed subsidiary, Lifetime Cosmetics, Inc., has acquired from ULTRAset Limited Partnership and ULTRAset, Inc., two Phoenix, Ariz.-based privately held entities, the assets and trademarks to a patent pending product involving a unique accelerated nail polish drying system.
 The consideration paid for the product was a 15 percent ownership interest in Lifetime Cosmetics, Inc. Additionally, Lifetime Cosmetics, Inc. has agreed to pay a trailing royalty to the former owners. The system, which was developed at a cost of over a million dollars and is currently being used by professional salons nationwide, uses photo- sensitive polymers to reduce the drying time of conventional nail polishes by approximately 90 percent.
 The product is currently sold through professional salons and major department stores such as Dillard's and Neiman Marcus. The company plans to continue marketing the system to professional salons through the existing distribution system and to redirect consumer sales through direct response marketing channels under the name SalonNail 3(TM). Lifetime is currently negotiating with several well-known female celebrities to endorse the product and participate in the marketing campaign. The direct response marketing effort, which will precede the reintroduction of the product to retail, will include credit card inserts as well as television, print and catalog advertising. Lifetime Products' president, Jennifer P. Runyeon stated, "SalonNail 3 is our flagship entry into the cosmetics industry. We believe that by redirecting the marketing efforts for this product to the individual consumer through direct response, as we successfully did with TRIPLEDGE(R) Lifetime Wipers, we can produce sales at a level that will make SalonNail 3 a significant addition to the Lifetime family of products."
 Lifetime Products, Inc. is a Dallas-based manufacturer and marketer of premium consumer products including the famous TRIPLEDGE(R) Lifetime Wipers.
 -0- 12/4/91
 /CONTACT: Vince White of Lifetime Products, 214-980-2886/
 (LPI) CO: Lifetime Products Inc. ST: Texas IN: AUT SU: TNM


CK -- NY028 -- 9086 12/04/91 10:03 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 4, 1991
Words:340
Previous Article:WORLD COLOR PRESS APPOINTS FIRST IN-HOUSE COUNSEL
Next Article:DIXIELAND FOOD STORES SELLING ITS SUPERMARKET OPERATIONS
Topics:


Related Articles
LIFETIME PRODUCTS ANNOUNCES CELEBRITY SPOKESPERSON FOR MARKETING CAMPAIGN
LIFETIME PRODUCTS ANNOUNCES AGREEMENT WITH DIRECT TO RETAIL LIMITED PARTNERSHIP AND LAP ACQUISITION LIMITED PARTNERSHIP
LIFETIME PRODUCTS, INC. MAKES ANNOUNCEMENT
LIFETIME HOAN NAMES KEY POSTS TO BUOY PRODUCT DEVELOPMENT.
Coventry Adds Three Executives to Its Team.
Handleman Company Acquires Lifetime Entertainment, An Independent Distributor of Music and Videos in the United Kingdom.
Lifetime and Iceberg Enter Into Licensing Agreement.
LIFETIME HOAN EXCEL DEAL MEANS BIGGER PLACE AT TABLE.
LIFETIME SETS A BIGGER TABLE WITH MOVES.
Lifetime Acquires Assets of Salt Lake City-Based Jumping Jack Trailers.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters