In Brief: Thomas Bonoma
This article was originally published in The Rose Sheet
Executive Summary
Thomas Bonoma: Chairman, CEO and founder of Renaissance Cosmetics, Inc. died May 21. Bonoma, 50, started the mass market fragrance and cosmetic company in 1994 and was instrumental in the company's rapid rise to success. Renaissance reported approximately $300 mil. in sales for FY 1996 (ended March 31). As head of RCI, Bonoma made a practice of revitalizing underperforming brands. In the past several months, the company has embarked on an acquisition spree to strengthen its presence, buying most of P&G's mass fragrance portfolio, fragrance marketer MEM and Great American Cosmetics color brand Nat Robbins. Before establishing Renaissance, Bonoma served as Benckiser exec VP from 1987 to 1993. During that time, he headed up the acquisitions of Coty from Pfizer, Calgon bath products from SmithKline Beecham and fragrance marketer Quintessence Holdings (Jovan Musk, Aspen, Adidas and Dare). Prior to entering the personal care arena, Bonoma served as a professor of business administration at Harvard University for 14 years. Renaissance President and Chief Operating Officer Norbert Becker succeeds Bonoma in the CEO post, the company announced May 29...
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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