Back in October, BD reported there were rumours that Frédéric Fekkai was preparing to buy back his namesake haircare brand, and now it’s officially been confirmed.
Fekkai has partnered with private investment firm, Cornell Capital, to acquire Fekkai Brands – the joint venture created by Designer Parfums and Luxe Brands that purchased the business in 2015.
It is set to be run by Blue Mistral, a holding company set up by Fekkai and Cornell. Blue Mistral will also operate Bastide, the skin and body care line that Fejjai and his wife acquired in 2016.
“I am thrilled to rejoin Fekkai Brands and eager to reconnect with the salons, teams and consumers,” Fekkai said. “This acquisition will provide me with opportunity to reinfuse my passion for innovation into the brand, while igniting its growth and guiding Fekkai Brands through its next chapter in a modern and exciting way.”
Although terms of the deal were not disclosed, Fekkai Brands is estimated by market sources to boast a wholesale volume of approximately US$35 million, with the purchase price being around or slightly lower than the estimated US$50 million that Luxe Brands and Designer Parfums bought it for.
Image source: Cosmetics Business
