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Elizabeth Arden divests Erno Laszlo skin care business; former Arden exec heads company.

This article was originally published in The Rose Sheet

Executive Summary

ELIZABETH ARDEN SELLS ERNO LASZLO SKIN CARE BUSINESS for an undisclosed amount to a group of investors led by Mana Products President and CEO Nikos Mouyiaris. The deal was finalized Aug. 18. Operations for Erno Laszlo LLC will begin immediately, the newly formed firm said. Although Laszlo will run as an independent company, Mana will take on manufacturing responsibility for the 84-SKU prestige skin care line. Laszlo noted that it has retained all personnel employed by the business under Elizabeth Arden. Sales in 1994 for the line were $20 mil., according to Laszlo.
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