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Gucci Acquires $583.4 Mil. Sanofi Beauty Business From Artemis

This article was originally published in The Rose Sheet

Executive Summary

Gucci is purchasing Sanofi Beaute from Artemis for $1 bil., giving the fashion house Yves Saint Laurent fragrances and cosmetics, Roger & Gallet, and fragrance licenses for Van Cleef & Arpels, Oscar de la Renta, Fendi and Krizia. Sanofi beauty sales total $583.4 mil.

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Yves Saint Laurent retires

Fashion designer announces retirement in Paris Jan. 7. Retirement will result in the closing of YSL fashion house's couture business but will have little impact on the ready-to-wear business or fragrance and beauty license, which operate under Gucci. The rights to YSL ready-to-wear and beauty were acquired by the Pinault-Printemps-Redoute-owned Gucci for $1 bil. in 1999 from Artemis, a PPR holding company (1"The Rose Sheet" Nov. 22, 1999, p. 4). YSL fragrances include Opium, Kouros, Baby Doll and Nu, the most recent introduction that debuted in the fall (2"The Rose Sheet" July 16, 2001, p. 4)...

Yves Saint Laurent retires

Fashion designer announces retirement in Paris Jan. 7. Retirement will result in the closing of YSL fashion house's couture business but will have little impact on the ready-to-wear business or fragrance and beauty license, which operate under Gucci. The rights to YSL ready-to-wear and beauty were acquired by the Pinault-Printemps-Redoute-owned Gucci for $1 bil. in 1999 from Artemis, a PPR holding company (1"The Rose Sheet" Nov. 22, 1999, p. 4). YSL fragrances include Opium, Kouros, Baby Doll and Nu, the most recent introduction that debuted in the fall (2"The Rose Sheet" July 16, 2001, p. 4)...

YSL

Sales increase 6.7% to $138.4 mil. for fiscal first quarter (ended April 30), Gucci reports June 21. Yves Saint Laurent cosmetics sales increased 15.9% to $40 mil., while fragrance revenues were off 1% at $60.9 mil. Gucci purchased Sanofi's beauty business, which included YSL and couture, from Artemis, a holding company for Pinault-Printemps-Redoute, in November (1"The Rose Sheet" Nov. 22, 1999, p. 4). LVMH and PPR have engaged in talks to resolve disagreements surrounding PPR's alliance with Gucci. The two companies had been negotiating a sale of LVMH's 20 mil. Gucci shares for $100 per share, but the deal fell through

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