(PRESS RELEASE) DÜSSELDORF, 26-Jul-2019 — /EuropaWire/ — Henkel to acquire 51 per cent stake in eSalon.com LLC, further strengthening its leading hair coloration portfolio and expand its digital business.
eSalon creates customized hair colorations mixed on an individual basis for at home application and is available as a one-time purchase or as a subscription. Every single color order is formulated and dispensed on-demand, with over six million orders shipped and over 165,000 unique color combinations created. The company generated sales of around 30 million dollars, mainly in the US market in fiscal 2018. eSalon was launched in 2010 and employs 120 professionals. The company’s headquarters including production, office and warehouse are in Los Angeles. eSalon is a four-time winner of Allure Magazine’s “Best Home Hair Color.”
Jens-Martin Schwärzler, Executive Vice President and responsible for Henkel’s Beauty Care business, said: “We continue to drive the execution of our strategy by strengthening our portfolio and our digital capabilities through targeted investments. With this joint venture, we aim to grow our core business and at the same time expand in an innovative digital business model. The strong eSalon business which addresses the growing trend of personalization in beauty care will be a perfect fit. We expect to gain valuable consumer insights that will also help us to create meaningful innovations for our classical retail consumers. The founders and existing management team will stay on board and join forces with Henkel to further accelerate the future growth of the business.”
Francisco Gimenez, eSalon CEO commented: “Through our partnership with Henkel, we look forward to accelerating our marketing efforts and enhancing our product offering for our current and future clients.”
The agreement is subject to customary closing conditions, including regulatory approvals. Financial details of the transaction are not disclosed.
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SOURCE: Henkel AG & Co. KGaA