Elf Sanofi
This article was originally published in The Rose Sheet
Executive Summary
Sanofi Beaute parent is putting the Perry Ellis and Geoffrey Beene fragrances on the selling block because it has "too many beauty brands," the firm states. Although Perry Ellis and Geoffrey Beene are strong brands, they have less "global potential" than the other cosmetics and fragrance brands in its stable, the firm notes. Annual sales of the two Perry Ellis scents -- Perry Ellis for Men and 360 degrees for women -- are estimated at more than $30 mil. in the U.S. and $38 mil. worldwide. Revenues from the two Geoffrey Beene scents -- Grey Flannel for men and Bowling Green for women -- are over $8 mil. in the U.S. and $15 mil. worldwide annually. Sanofi denied that the sale of the brands is linked to a bid to purchase Kodak's Sterling Winthrop business. Elf Sanofi said in early May that it had begun a review to "determine if asset sales may be required to help finance" the acquisition ("The Rose Sheet" May 9, p. 2). Sanofi says it has been approached by buyers for both brands