US’ Luxury Brands buys hair styling tool company FHI Heat

US-based beauty firm Luxury Brands has acquired hair styling tool company FHI Heat.

The transaction includes all FHI Heat subsidiary beauty brands, including Stylus, Neo Bond, Hair Veil and Daily Beauty.

The acquisition will enable FHI Heat to extend its marketing operations, expand its wholesale and retail distribution channels, and invest in new product research and development (R&D).

Michael Dodo of Luxury Brands has taken over as FHI Heat president and CEO. In addition, FHI Heat has moved its corporate headquarters from the city of Valencia to Norwalk, California.

Michael Dodo said: “Luxury Brands is growing rapidly, and we are particularly excited to expand our business to haircare with FHI Heat’s amazing range of styling tools and products.

“This acquisition allows us to realise our vision of becoming the premiere brand of choice for beauty enthusiasts worldwide.

“FHI Heat’s success would not be possible without the dedication of our highly committed team members and our loyal customer base, and both will continue to play critical roles in the global expansion of this sensational beauty brand.”

The newly restructured FHI Heat executive team includes Jason Dodo as executive vice-president, Nicolas Bobroff as senior vice-president of operations, Tracie May-Wagner as vice-president of global communications and Sean James will serve as artistic director.