12.27.10 | Industry News – Beauty
L’Oreal Acquires Distributor Peel’s Salon Services
L’Oreal USA recently announced it was acquiring Peel’s Salon Services. Peels is headquartered in Omaha, Nebraska and will become part of SalonCentric, L’Oreal’s distribution arm for its professional salon products. Peel has been a family owned business since its founding in 1937. At time of its sale, it had over $100 million in annual revenues, 57 professional only stores, over 90 sales consultants and over 500 employees.
Coty Inc. Acquires OPI Products for $1 Billion
Coty, the seller of perfumes such as ones by Sarah Jessica Parker and Vera Wang, announced it was purchasing OPI Products for $1 billion. OPI, a nail care company, gives Coty entry into the professional salon market. This is just one of four recent acquisitions made by Coty. Coty is also buying beauty company Philosophy.