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Kao to Acquire Oribe Hair Care from Luxury Brand Partners
Cincinnati, Ohio (ots) - Kao USA Inc., a wholly owned subsidiary of Kao Corporation, a leading manufacturer and marketer of top beauty brands recognized around the world for innovation and quality, announced today it has signed an agreement to acquire Oribe Hair Care, LLC from its owners, including Luxury Brand Partners, LLC, an innovator in beauty known for its artist-driven brands and entrepreneurial culture. Daniel Kaner, co-founder and currently co-president of Oribe Hair Care will be named president of the newly acquired entity. The terms of the deal were not disclosed.
Oribe will join the Kao Salon Division portfolio of professional brands, including Goldwell, a full service line of stylist-exclusive, premium hair products designed for professional needs, and the KMS line of globally inspired hair care and styling products for creative stylists and their clients.
Oribe has grown from a prestige hair care brand into a global beauty authority that offers hair care, skincare, body care, makeup, tools and accessories. The brand holds a strong presence in the top-tier professional salon segment as well as in leading specialty retailers around the world.
"Oribe is a stellar brand and a perfect fit for the Kao Salon Division portfolio," said Cory Couts, Global President, Kao Salon Division. "And Daniel will be an exciting and inspiring addition to our management team. Daniel's appointment not only guarantees the continuity of all that is extraordinary about Oribe but is also a progression of our company's mission to appeal to the most artistic and business-minded salon professionals in the world."
"Kao is the ideal place for Oribe Hair Care to take the next step in its transformative journey," said Kaner. "I have a deep respect for their organization and talented leadership team. Our friendship and business relationship goes back years, most successfully with the strategic partnership in the United States between Oribe and Goldwell color. We have always believed that hair care should be an immersive and luxury experience, and Kao is incredibly supportive of the high standard that we set for ourselves."
"With its focus on luxury products, Oribe will meet the need for a prestige line in the Kao Salon product mix," continued Couts. "And, the extensive global distribution network of Kao Salon Division will enable Oribe to expand internationally."
"It is a bittersweet moment to say goodbye to a brand that Oribe Canales, Daniel Kaner and I founded and created almost ten years ago," said Tevya Finger, CEO of Luxury Brand Partners. "I am extremely proud of what Oribe Hair Care has been able to accomplish since its inception, and I look forward to watching Kao Corporation develop the brand on a global scale."
The Oribe business will continue to be based in New York City under current management, reporting to Kao Salon Division.
The acquisition is subject to normal regulatory review and approval.
About Kao Salon Division:
Kao Salon Division is part of the Kao Beauty Care Business Division offering salon-exclusive products and services to stylists around the globe. It is a thought and trend leader in the professional hair care industry as well as the home of the Goldwell and KMS brands. The mission of Kao Salon Division is to enrich the lives of stylists, salon owners and their clients through partnership, salon business growth and our salon exclusive portfolio of advanced services, innovative products and inspiring education.
About Oribe Hair Care: Oribe Hair Care has set the standard for professional hair care within the prestige market. Blending innovative formulations, top-performing products, award-winning packaging and unparalleled education, Oribe has become a renowned beauty authority for experienced stylists and taste-driven consumers alike. These are the products of the hair-obsessed.
About Luxury Brand Partners: Luxury Brand Partners develops and nurtures prestige artist-driven beauty brands, with a focus on innovation and a passion for the creative mind. With offices in Miami and New York City, our portfolio of companies offers high-performance products and top-of-the-line education informed by both an artistic and a business perspective. Luxury Brand Partners includes R+Co, Smith & Cult, IGK, V76 by Vaughn and Pulp Riot.
Kao Europe, Middle East, Africa: Melanie Schnitzler
email@example.com 0049-6151 3960686
Oribe Hair Care: Tara Lowenberg TL Communications
firstname.lastname@example.org 001-212 375 8660
Luxury Brand Partners: Erin McCaffrey Nenadich BPCM
email@example.com 001-646 795 6893