Global luxury giant Louis Vuitton Moët Hennessy (LVMH) in a venture to gain greater marketshare has acquired Nude – the niche skincare brand. A four year old brand, LVMH will own 70 percent of it, while the current shareholders own 30 percent. Toni Belloni, group managing director of LVMH, stated, “We believe Nude will be a global luxury skincare brand and are excited to work with Ali, Bryan and the team that they have built around them.” Products in the line range from the $14 Nude Lips balm to the $92 Advanced Cellular Renewal Serum, with many items hovering at $60. Nude executives would not comment on sales, but industry sources said the line of less than 20 products generates between $3 million and $4 million in revenues. Nude is the second skincare acquisition for LVMH this month, the first being Ole Henriksen, a luxury botanical brand.
Source: http://www.wwd.com
