Designer Parfums, LUXE form JV to acquire Procter & Gamble’s salon business

Designer Parfums and LUXE Brands have formed a joint venture (JV) to acquire Frederic Fekkai business from Procter & Gamble.

The JV Fekkai Brands will acquire Frederic Fekkai’s luxury hair care brand and salons.

Frederic Fekkai operates seven salons in New York, Connecticut, Florida, Texas and California and offers a range of hair products.

Around 225 people employed in Fekkai’s salons will be transferred to the newly formed company, as part of the acquisition.

Designer Parfums CEO Dilesh Mehta said: "We are excited to be working with the extraordinary talent of Frédéric Fekkai and the Fekkai brand to optimize and further develop his brand of world class and innovative hair care products."

LUXE Brands founder and CEO Tony Bajaj added: "This latest addition to our portfolio expands upon our vision to extend into every area of beauty; we cannot imagine a more perfect partner than Frédéric Fekkai, the premier brand in hair care and salons."

Additionally, LUXE will launch Ariana Grande fragrance in September this year.

Meanwhile, Designer Parfums plans to expand its portfolio of brands through brand ownership, license and distribution agreements in order to cover all major markets.