Stila Cosmetics looks for something new under sun.WOWED by its celebrity make-up artist under, sleek packaging and quirky mage mage n. A magician or sorcerer. [From Middle English mages, magicians, variant of magi; see magus.] , Estee Lauder Cos. Inc. squeezed out other bidders to snatch up Verb 1. snatch up - to grasp hastily or eagerly; "Before I could stop him the dog snatched the ham bone" snatch, snap clutch, prehend, seize - take hold of; grab; "The sales clerk quickly seized the money on the counter"; "She clutched her purse"; "The Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. company Stila Cosmetics Inc. for around $25 million in 1999. But Stila's revenues have been relatively static since making an estimated $26 million the year of its acquisition, and Lauder's patience with the brand ran out. The company announced last week it sold Stila to an affiliate of Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.-based Sun Capital Partners Inc. Jane McKellar, former managing director of Elizabeth Arden Elizabeth Arden (December 31, 1878 - October 19, 1966) was a Canadian businesswoman who built a cosmetics empire in the United States. Arden was born Florence Nightingale Graham in Woodbridge, Ontario, where she lived until she was twenty-four years old. Inc. in Australia, is taking over Stila's management. Kim Waite, a spokeswoman for Stila, said McKellar is moving to L.A. for the job: her cats arrived on Wednesday. Other than that, she said staff changes aren't expected at the local headquarters. "Jane McKellar and her colleagues are talented, experienced executives who are passionate about cosmetics and the Stila brand," William Lander, president and chief executive of Estee Lauder, said in a statement. "We believe this bodes well for the brand's future. At the same time, we are pleased that our company has taken this important step in our drive to optimize our portfolio of brands." Lauder is holding onto MAC and Bobbi Brown
Bobbi Brown (born April 14, 1957) is a makeup artist and CEO of Bobbi Brown Cosmetics. Her products are sold in over 400 stores and twenty countries worldwide. , two brands started by make-up artists that it purchased in the 1990s, a decade that saw the company expand aggressively. Now, Lauder is pulling back from upstarts, and William Lauder has emphasized that he'd rather not coddle brands making less than $100 million. Jeanine Lobell, whose client list includes Natalie Portman and Diane Lane, founded Stila here as a specialty brand in 1994. Under the new ownership, Waite said Stila will return to its roots and move away from a wider distribution in department stores. |
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