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L Catterton seems to be to be eyeing status magnificence with the appointment of John Demsey as senior adviser.
Whereas no official announcement was made, Demsey is listed on the funding agency’s website as a senior adviser. A consultant for L Catterton declined to remark, whereas Demsey didn’t not reply to request for remark.
Demsey was most just lately an government group president on the Estée Lauder Cos., overseeing a few of its key manufacturers, together with MAC, Estée Lauder, Tom Ford Magnificence and Clinique. He was requested to go away the enterprise final yr after he posted a meme on Instagram that contained a racial slur and joke about COVID-19.
In its annual report, the Estée Lauder Cos. said that Demsey’s non-compete provision would final two years till March 2024. The precise particulars of the settlement are usually not identified, however WWD understands that the transfer to L Catterton was given the inexperienced gentle by Lauder.
Previous to Lauder, which he joined in 1991 and the place he grew to become an government group president in 2015, he held positions at Revlon, Macy’s, Saks Fifth Avenue, Bloomingdale’s and Benetton.
Demsey has expertise of working with L Catterton as he was beforehand on the board of Baccarat, which is backed by L Catterton.
As for L Catterton’s magnificence footprint, it just lately made a “important” development funding in colour cosmetics model Dibs Magnificence, launched in September 2021 by Tula Skincare founders Ken Landis (who additionally cofounded Bobbi Brown Cosmetics) and Dan Reich, with Austin, Texas-based influencer Courtney Shields and former chief working officer of A-Rod Corp Jeff Lee. Phrases of the transaction weren’t disclosed. It beforehand partnered with Tula, a probiotic, superfoods-based skincare line, in 2017, which was acquired final yr by Procter & Gamble for an undisclosed quantity.
Its present investments within the magnificence sector embrace Intercos, Oddity and Advantage.
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