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Hair News - August 2002 |
| Author: Karen Shelton |
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Date: August 2002 |
L'Oreal
Acquires ARTec; Deal Expands L'Oreal's Leadership in
Professional Hair Salon Market
NEW
YORK--(BUSINESS WIRE)--Aug. 20, 2002--L'Oreal, the world's
leading cosmetic company, today announced the acquisition of ARTec Systems Group, Inc. by L'Oreal's wholly owned U.S.
subsidiary, L'Oreal USA. Terms of the transaction have not
been announced.
Headquartered
in Long Island, New York and founded in 1990 by Mr. Leland
Hirsch and Mr. Michael Mazzei, ARTec markets hair care and
hair color products for the professional salon industry. Among
the company's brands are ARTec Color Deposit System,
Textureline, Purehair, Kiwi and Enamels, all of which are used
and sold exclusively through authorized distributors to beauty
salons.
"The
products of ARTec benefit from a premium image among American
hairdressers," declared Jean-Jacques Lebel, L'Oreal
worldwide President Professional Products. "Their future
development will be made in association with the L'Oreal
Professional brand enhancing our presence in America's most
prestigious salons," added Jean-Jacques Lebel.
"This
acquisition will further reinforce L'Oreal's commitment to the
beauty salon industry and its partnership with distributors
and hairstylists," said Mr. Jean-Paul Agon, President and
CEO of L'Oreal USA.
Mr.
David Craggs, L'Oreal USA's President of the Professional
Products Division said, "L'Oreal Professional are ARTec
brands share a commitment to Art, Technique and Technology
that make our product portfolios uniquely homogeneous."
"After
a decade of being one of the fastest growing beauty industry
companies, L'Oreal is the perfect parent organization to help
ARTec achieve its expansion goals," said Mr. Hirsch,
President and CEO of ARTec. "What's more, L'Oreal's
dedication to the salon business and its commitment to quality
and excellence mirrors our own company's philosophy," Mr.
Hirsch added.
L'Oreal
is the market leader in salon products, with brands like
L'Oreal Professional, Redken, Kerastase and Matrix in its
portfolio.
Headquartered
in New York City, with annual sales of over $3 billion and
8,800 employees, L'Oreal USA is a wholly owned subsidiary of
the L'Oreal Group, the world's leading cosmetics company.
L'Oreal USA has Research & Development, Manufacturing,
Distribution and Administration facilities in eight states as
well as the Caribbean.
The company's prestigious brand
portfolio includes, L'Oreal Paris, Lancome, Maybelline,
Garnier, Redken 5th Ave NYC, Soft Sheen/Carson, Kiehl's, Since
1851, Matrix, La Roche-Posay, Ralph Lauren Fragrances, Giorgio
Armani Parfums and Cosmetics, Biotherm and Helena Rubinstein.
CONTACT:
L'Oreal
Pam Alabaster, 212/984-4905
SOURCE: L'Oreal
(BW)(WA-PROCYTE)(PRCY) ProCyte Named a ``Fast Fifty''
Washington State Technology Company for Second Consecutive
Year
REDMOND, Wash.--(BUSINESS WIRE)--Aug.
20, 2002--ProCyte Corporation (OTCBB:PRCY.OB), a company whose
patented Copper Peptide technology is being used in a
broadening array of products for skin
care, hair care and tissue repair, today announced
that it has been included in the Deloitte & Touche 2002
Washington State Technology Fast 50.
The Washington State Fast 50 is an
annual listing compiled by Deloitte & Touche that
highlights the 50 fastest growing technology companies in
Washington State. Criteria include owning proprietary
technology that contributes a significant portion of the
company's operating revenues, being headquartered in
Washington State, and having at least a five-year operating
history. Companies named to the 2002 Fast 50 have generated
the highest revenue growth rates for the period from 1997
through 2001.
ProCyte Chairman and Chief Executive
Officer Jack Clifford stated, "We are proud to have
generated the growth necessary to be recognized on this
prestigious list for the second year in a row. Our compound
annual revenue growth rate for the 1997 to 2001 period was 79
percent, which places us in an enviable class of companies
that we respect greatly."
ProCyte recently announced
dramatically improved financial results for the second quarter
and first half of 2002. Net earnings for the first six months
surged, eclipsing the $1 million mark, compared with a net
loss of $866,000 for the first half of 2001.
"Our success is the result of
increasing consumer awareness regarding the distinct benefits
delivered by our patented Copper Peptide technology, and the
tireless efforts of our employees and partners,"
continued Clifford. "Moreover, our recent transition to
sustainable profitability after nearly 17 years of research
and development bolsters our outlook for rapid growth in
shareholder value going forward."
The annual awards celebration
recognizing the 2002 Washington State Technology Fast 50 is
scheduled for Thursday, September 26, 2002, at the new Seahawk
Stadium.
ProCyte Corporation develops and
markets products based on its patented, clinically proven
Copper Peptide technology for skin health, hair care and wound
care. The Company sells directly to Dermatologists and Plastic
Surgeons and through licenses with strategic partners into the
consumer market, including its long-term worldwide license
agreement with Neutrogena(R), a Johnson & Johnson company.
ProCyte's products include Neova(R)
Anti-Aging Skin Care, Complex Cu3(R) Post-Procedure Skin Care,
GraftCyte(R) Hair Transplant Care and Tricomin(R) Advanced
Care for Thinning Hair. Additional information is
available by visiting our website at
www.procyte.com.
This release may contain
forward-looking statements relating to the research,
development, commercialization, production, marketing and
distribution of the Company's products and future operating
results that are subject to certain risks and uncertainties
which could cause actual results to differ materially from
those projected. The words "believe,"
"expect," "intend,"
"anticipate," variations of such words, and similar
expressions identify forward-looking statements, but their
absence does not mean that the statement is not
forward-looking. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties
and assumptions that are difficult to predict. Factors that
could affect the Company's actual results include its ability
to develop, commercialize and produce new products, the market
acceptance of existing and potential future products, the
availability, cost and timely delivery of materials and
services from and performance of third party suppliers,
manufacturers, distributors, licensees and other collaborative
partners, the satisfaction of regulatory requirements, and the
receipt, timing, terms and conditions of required regulatory
approvals. Reference is made to the Company's latest Quarterly
Report on Form 10Q or Form 10K filed with the Securities and
Exchange Commission for a more detailed description of such
factors. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the
date of this release. The Company undertakes no obligation to
publicly update any forward-looking statement to reflect new
information, events or circumstances after the date of this
release or to reflect the occurrence of unanticipated
events. --30--CJG/se*
CONTACT: For ProCyte Corporation
SM Berger & Company
Stan Berger, 216/464-6400
stan@smberger.com
ir@procyte.com
SOURCE: ProCyte Corporation
Brushes With
Greatness
American
Salon Magazine's 125th Anniversary Cocktail Party in Las Vegas
Attended by Industry Movers, Shakers and History Makers
LAS VEGAS, Aug. 6 /PRNewswire/ -- American Salon, America's
oldest professional beauty magazine celebrated 125 years of
publication with an exclusive cocktail party in Las Vegas on
Tuesday, July 30, 2002. The party coincided with the
July release of the anniversary issue of American Salon and
was held at the ultra chic nightspot Ghostbar, located on the
55th floor atop the hip Palms Casino Resort.
Industry pioneers like former British Hairdresser of the Year
Robert Lobetta of Sebastian International, Anthony Mascolo,
also the recipient of the prestigious British Hairdresser of
the Year Award and the co-founder of Toni&Guy, Annie
Humphreys and Tim Hartley of Vidal Sassoon turned out to pay
homage as did scissors wizard Robert Cromeans from John Paul
Mitchell Systems, photographer David Raccuglia, celebrity
hairstylists Laurent D., Michael Boychuck, Edward St. George
and Mark Garrison.
"American Salon has been on the cutting edge for 125
years," said Robbin McClain, editor in chief of American
Salon. "It was fantastic to gather together future
trendsetters and innovators, industry pioneers and leaders as
well as some of our hair heroes to celebrate this industry
milestone."
The mood was festive as the "Who's Who" of the
beauty industry nibbled on a mouth-watering assortment of
delectable appetizers, sipped cocktails, and caught up with
one another while watching a flat screen monitor that flashed
beautiful images of groundbreaking hairstyles from the
magazine's last 125 years. Those with a sweet tooth
enjoyed a slice of the three-tiered Bavarian cream anniversary
cake while taking in the stunning desert sunset out on the
terrace.
The July issue of American Salon celebrated the magazine's
125th year of serving the beauty professional.
The 250-page issue included a triple-gatefold cover,
photographed by David Raccuglia, featuring nine hair icons,
including the legendary Vidal Sassoon, and Trevor Sorbie, who
created the Wedge, the first hairstyle to be printed as a
spread in British Vogue and a longtime favorite of ice queen
Dorothy Hamill, who have helped to shape the industry. A
beautiful 20-page portfolio inside showed new black-and-white
portraits of the nine legends, along with photos of their
favorite creations and interviews conducted by executive
editor Kelley Donahue. "It was very important to us
to pay tribute to the makers of hair history, and we were
thrilled by their enthusiasm for the project. We are
deeply honored that so many of them joined us at the
anniversary cocktail party," said Donahue.
Publisher Brett Vinovich reports that "the impactful
issue, which will be a keepsake for years to come, has broken
all records with 100% support from the industry."
(NOTE TO EDITORS: American Salon is published monthly by
Advanstar Communications).
For more
information on the magazine visit
www.americansalonmag.com
.
For further information, please contact Susie Dobson of Susie
Dobson Global PR, +1-310-573-2146, susiedobson@labridge.com,
for American Salon Magazine.)
SOURCE American Salon Magazine
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