Parlux
This article was originally published in The Rose Sheet
Executive Summary
Firm completes the acquisition of the worldwide marketing rights to the Fred Hayman Beverly Hills fragrances for $11 mil. in cash and long- and short-term notes, 500,000 shares of Parlux Fragrances common stock and stock options for an additional 100,000 shares, the company announces June 16. Parlux signed a letter of intent to purchase the rights to the scents earlier this month ("The Rose Sheet" June 13, In Brief). As a result of the sale, Fred Hayman now owns 15% of Parlux's stock
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says