Aloette Revamps With Upscale Image Following Ownership Change
This article was originally published in The Rose Sheet
Executive Summary
Aloette Cosmetics is repositioning itself to reflect a more upscale image with a packaging redesign and product reformulation.
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Aloette
Cosmetics direct seller goes online with its first Internet store, www.aloettecosmetics.com, in an effort to "capture the lead for direct sales to consumers" through the Web and the firm's 5,000 beauty reps nationwide, the Atlanta, Ga.-based company said. The online store will be tested in August and expects to be in full-time operation in September. The $40 mil. prestige cosmetics retail company was purchased last year by Christie and Bob Cohen, the firm's largest franchise operator. Aloette was relocated from Philadelphia to Atlanta earlier this year
Aloette
Enters into an agreement to merge with ACI Acquisition Partners (Marietta, Ga.), the direct marketer, distributor and franchiser said. Under the agreement, ACIA will acquire all outstanding Aloette capital stock for $5.25 a share in cash for an aggregate consideration of about $11.8 mil. to Aloette's shareholders, option and warrant holders. ACIA also will assume roughly $2 mil. in Aloette debt. The purchase is subject to shareholder approval at Aloette's annual meeting, which is slated to be held before the end of July. Aloette sales in 1997 fell 13.7% to $10 mil., while net income declined 19.8% to $738,000. The firm has been working to reduce administrative expenses, which contributed to a 1.9% gain to $265,000 in the fourth quarter, while sales dropped 10.4% to $2.6 mil...
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