PARIS – Maesa has sold its European and Middle Eastern operations to Knowlton Development Corp. Inc.
Financial terms of the deal were not disclosed.
The transaction takes place as New York-based Maesa is doubling down on its core business, the portfolio of what it considers “high-growth global brands” such as Kristin Ess, Being Frenshe, Hairitage by Mindy McKnight and Fine’ry, and fragrances it has created for fashion brands and retailers.
From Kristen Ess
Courtesy
“Maesa EMEA is an important part of Maesa’s origin story, and it became a leading partner for makeup and fragrance brands across Europe and the Middle East,” Piyush Jain, chief executive officer of Maesa, said in a statement released Monday. “Our EMEA team accelerated this incredible business, and we believe Kdc/One is the right partner to support this team’s next chapter of growth.
“We expect the combination to further strengthen their ability to deliver exceptional and innovative solutions to customers,” continued Jain. “With this transaction, I am excited to continue to strength Maesa’s focus on innovation and redefining the consumer experience in beauty through leading innovation both on our existing portfolio of brands and launching exciting new ones. This strategic move will enable Maesa to continue to accelerate our rapid growth globally.”
“Kdc/One shares our unwavering focus on supporting customers and innovation, and this partnership will enable us to access new capabilities, accelerate our development and better service our customers,” said Olga Nazarkova, president of Maesa EMEA. “We are confident this is the right next step for our team and the brands we support, and we look forward to bringing the combined strength of our capabilities to better service our customers.”
Maesa is billed to be the largest incubator in beauty’s mass market.
The company placed 83rd in the most recent edition of WWD Beauty Inc’s Top 100 ranking of beauty company by sales, based on 2023 results. That year, Maesa generated an estimated $365 million, representing a 20 percent on-year gain.
