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Phoenix, AZ 602.794.8500 www.philosophy.com Sales: $200 million Sales: $200 million (estimated). Key Personnel: Cristina Carlino, founder; Kenneth T. Stevens, chief executive officer. Major Products: Skin care, personal care and related products. New Products: Hope in a Tinted Moisturizer, Divine Illumination color collection.
Phoenix, AZ
602.794.8500
www.philosophy.com
Sales: $200 million
Sales:
$200 million (estimated).
This is the last year that Philosophy will make our Top 50 list, as the company was sold to Coty late last year.
Founded in 1996 by Cristina Carlino, Philosophy has grown into a $200 million firm selling skin care and related beauty notions including fragrances and bath and body products. The firm, which was acquired by The Carlyle Group in March 2007, has since been sold to Coty in a deal that has been rumored at $1 billion. Not too shabby for a brand that sells products in simple packaging, but with ever-so catchy names like Hope in a Jar and Miracle Worker (skin care SKUs) and Amazing Grace (fragrance).
In fact, Philosophy, as a company, believes that what is “in” Philosophy jars and bottles can give you better skin. What is “on” Philosophy jars and bottles can inspire better days.
“Philosophy is one of the beauty industry’s most prestigious brands and a fantastic addition to the Coty family,” said Bernd Beetz, chief executive officer of Coty Inc. “This acquisition will allow Coty to strengthen its presence in the skin care category, which is one of our key strategic objectives.”
Recently, Philosophy linked up with CafePress to offer customized bath and body gifts. The CafePress design tool will allow Philosophy customers to customize the packaging on three of Philosophy’s signature shower gel scents: Amazing Grace, Pure Grace and Falling in Love.
Phoenix, AZ 602.794.8500 www.philosophy.com Sales: $165 million
Sales: $165 million (estimated)
Owned by investment firm The Carlyle Group, Washington, D.C., Philosophy has expanded beyond its popular 3-in-1 “Ultra Rich” shampoo, bubble bath and body wash products and, in October 2009, it launched a new line of makeup at Sephora.
According to the company, the range delivers its “bestselling skin care secrets” by way of paraben-free eyeshadows, mineral powders and SPF-infused lipglosses.
In November, Philosophy“got hitched” to well-known wedding website The Knot. The partnership included a multiplatform, integrated marketing campaign surrounding the launch of Philosophy’s first co-branded product. The “Tying The Knot ” just-for-brides gift set—available on TheKnot.com and philosophy.com—includes Philosophy’s Purity One-Step Facial Cleanser; Amazing Grace Firming Body Emulsion, Bath Gel and Spray Fragrance; Kiss Me Exfoliating Lip Scrub; Hope in a Jar Moisturizer; Microdelivery Peel Pads; Kiss Me Clear Lip Balm and an Eye Hope Deluxe Sample.
This summer, Philosophy shared its newest approach to anti-aging skin care with the launch of a collection of products based on a formulation of retinoids and vitamin C, as well as a fresh dispensing method that delivers optimum potency in application.
Sales: $170 million (estimated).
Philosophy needs a new leader. Last month, chief executive officer Michael McNamara left the company to spend more time with his family. While management searches for a new CEO, Ken Stevens will act as interim chief, and founder Cristina Carlino will continue as executive chairman.
Owned by investment firm The Carlyle Group,Washington, DC, Philosophy’s sales are $170 million, according to industry sources. In March, the company launched a new website, www.philosophygiveslove.com, which it calls the first interactive, fully-customized website devoted entirely to spreading love online and off. The site was launched in conjunction with Philosophy’s newest fragrance, Unconditional Love.
$150 million (estimated).
In March 2007, The Carlyle Group, a global private equity firm, acquired Philosophy. Born from Biomedic, the medical company that pioneered popular in-office treatments such as the micropeel, the international prestige skin care and cosmetics brand was established in 1996. Philosophy products are sold through multiple complementary channels of distribution, including direct response television and prestige retailers.
The company named Gretchen Price chief financial officer this year. Ms. Price joined Philosophy from The Procter & Gamble Company (P&G), where she held numerous senior financial positions over her 31-year tenure, including treasurer, controller and general manager. She most recently served as the vice president, finance, global operations at P&G.
According to the company, Ms. Price is the second high-profile executive to be hired by Philosophy since the company was acquired by The Carlyle Group. In May 2007, Carlyle recruited chief executive officer Michael McNamara from Neutrogena Corporation, which he had run since 1999.
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